Bankwest Qantas Classic Mastercard

Credit Card Review: Bankwest Qantas Classic Mastercard

What's Hot

  • The card uses annual points capping rather than monthly, which could help you earn more points overall

What's Not

  • Points capped at 50,000 per year

X-Factor

  • Minimum credit limit of only $1,000

Introduction

Bankwest's Qantas Classic Mastercard is a no-frills credit card that offers frequent flyer points in return for an affordable annual fee, with those points automatically transferred over to your Qantas Frequent Flyer account every month.

You'll also earn the same number of points per dollar spent as the bank's Qantas Platinum Mastercard – just with a lower annual points cap that's better-suited to lower spenders, with a minimum credit limit of only $1,000 which makes the card accessible to most.

Bankwest Qantas Mastercard: fast facts

  • Grade/tier: Standard
  • Card type: Mastercard
  • Loyalty program: Qantas Frequent Flyer
  • Qantas Points earned per $1: 0.5
  • Points capping: Earn up to 50,000 Qantas Points per calendar year

Fees, charges and interest: 3/5

  • Annual fee: $100
  • Additional/supplementary cardholder fee: $0
  • Interest rate on purchases: 20.49% p.a.
  • Interest-free days on purchases: Up to 44
  • Interest rate on cash advances: 21.99% p.a.
  • International transaction fee: 2.95%
  • Minimum income requirement: None defined
  • Minimum credit limit: $1,000

Earning points for free flights: 3/5

Being an entry-level product, the Bankwest Qantas Mastercard delivers 0.5 Qantas Points per dollar spent up to 50,000 Qantas Points per year.

Over a calendar year, that means you could spend an average of $8,333 per month while still earning points – and with this card aimed at entry-level users rather than points-hungry jetsetters, the cap isn't restrictive enough to affect to most users.

Certainly, points caps are never a 'great thing', but we do appreciate that this one is yearly rather than monthly, because it's not uncommon for spenders to charge more in some months (such as leading up to Christmas or when planning an overseas holiday) and less in others.

Assuming you remain within the yearly cap, every $16,000 spent on the card earns enough points to book a one-way Sydney-Melbourne flight in economy, plus a payment of around $30 to cover taxes, fees and charges when you book.

Airport lounge access, free international travel insurance: 0/5

As expected, complimentary airport lounge access doesn't form part of Bankwest's Classic package, nor does travel insurance – although you'll find the latter available on Bankwest's higher-tier Qantas Platinum and Qantas World credit cards.

Bankwest Qantas Mastercard: the verdict

Priced at $100 per year and with no fees for additional cardholders, Bankwest's entry-level Qantas Classic card is just that: a starting point on your frequent flyer journey.

As you continue to use the card and pay off your purchases, you may be offered to increase your credit limit (or can apply for this directly), and once you have a limit of at least $6,000, you could then convert your card into a Bankwest Qantas Platinum card for only $60 more per year.

That brings added perks like travel insurance and no international transaction fees, and is a great path to 'move up' to having a better credit card if you don't initially qualify for a limit that high.

Of course, if you don't spend a great deal and want the convenience of a credit card paired with the ability to earn frequent flyer points, the Bankwest Qantas Classic card isn't a bad place to start.

 

6 Comments

  • Serg

    Serg

    23 May, 2017 01:14 pm

    One of the best non-Amex/Diners cards is Visa from Bank Australia. Up until now no capping whatsoever and 1 point per dollar. IMHO a must for everyone who collect points by using credit card.
    No member give thanks

  • Chris Chamberlin

    ChrisCh

    23 May, 2017 01:31 pm

    No doubt it's a great product and one of the highest Visa/Mastercard earners, although Bank Australia hasn't (yet) announced any changes ahead of the new RBA regs which kick in from July 1, so it remains to be seen whether that great earn rate will continue (ditto for the G&C Mutual Bank Visa which adopts the same earn rate).
    No member give thanks

  • Serg

    Serg

    23 May, 2017 01:56 pm

    If I understand correctly all those changes only applicable to "adopted" Amex - i.e. Amex that been issued by other banks in opposite to Amex itself. Or I missing something? It would be really sad if Bank Australia slashed earning rate, I can survive with some capping, but lower rate is real killer.
    No member give thanks

  • Chris Chamberlin

    ChrisCh

    23 May, 2017 02:05 pm

    The 0.8% interchange cap will apply to AMEX cards issued by ANZ, CBA, NAB and Westpac, plus ~all~ Visas and Mastercards from every bank in the country, some of which currenty reel in 'premium' or 'super premium' interchange revenue at rates more than double what the cap will be. As interchange revenue helps pay for points, you do the math. ;)

    No member give thanks

  • Serg

    Serg

    23 May, 2017 02:31 pm

    "you do the math. ;)"
    :-(((
    No member give thanks

  • Peter Dyer

    peterd647

    7 Jun, 2017 04:13 pm

    If only someone could come out with a card that simply allowed maximum points on everyday spend without added fees like international transactions, and restrictions on government spend. Unless the high monthly cap on 1:1 points is beneficial, I think most people will stick to the revised ANZ Black or the Macquarie Black. Both of these welcome Apple Pay too, another feature Qantas Premier lacks.
    No member give thanks

Guest

24 Jun, 2017 09:59 am

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