Westpac's Altitude Platinum credit cards give you the flexibility to earn frequent flyer points with Qantas, Virgin Australia and four other major airlines, with points automatically sent to Qantas Frequent Flyer or manually converted to the other partners, as you see fit.
Also thrown in is free international travel insurance, a nice welcome bonus of 50,000 Qantas or Altitude Rewards points for new customers and the option of paid access to American Express Centurion Lounges in the USA.
Rounding out the deal, Qantas earners pick up an extra Qantas Point per dollar spent directly with Qantas, while Altitude Rewards members can earn bonus Altitude points when shopping at a range of partner businesses.
Westpac Altitude Platinum cards: fast facts
- Grade/tier: Platinum
- Card type: American Express + Visa
- Loyalty program: Qantas Frequent Flyer direct or Altitude Rewards
- Qantas Points earned per dollar (Qantas Frequent Flyer option):
American Express transactions (except ATO payments): 1
Visa transactions (excludes ATO): 0.5
ATO payments (American Express only): 0.5
- Or, Altitude Rewards points earned per dollar (Altitude Rewards option):
American Express transactions (except ATO payments): 2
Visa transactions (excludes ATO): 1
ATO payments (American Express only): 1
- Altitude Rewards airline partners: Virgin Australia, Air New Zealand, Cathay Pacific, Malaysia Airlines and Singapore Airlines
- 2 Altitude Rewards points ($1 spent on AMEX) = 1 Virgin Australia Velocity point, 1 Malaysia Airlines Enrich mile, 0.8 Cathay Pacific Asia Miles, 0.8 Singapore Airlines KrisFlyer miles, $0.011 in Air New Zealand Airpoints Dollars
- 1 Altitude Rewards point ($1 spent on Visa) = 0.5 Virgin Australia Velocity points, 0.5Malaysia Airlines Enrich mile, 0.4 Cathay Pacific Asia Miles, 0.4 Singapore Airlines KrisFlyer miles, $0.0055 in Air New Zealand Airpoints Dollars
- Points capping: Earn up to 3,750 Qantas Points per month or up to 7,500 Altitude Rewards points a month (equal to 3,750 Velocity points)
Fees, charges and interest: 3/5
- Annual fee: $150
- Additional cardholder fee: $0
- Interest rate on purchases: 20.24% p.a.
- Interest-free days on purchases: Up to 45
- Interest rate on cash advances: 20.74% p.a.
- International transaction fee: 3.5% (AMEX), 3.0% (Visa)
- 'Recommended' income requirement: $30,000 p.a.
- Minimum credit limit: $6,000
Earning points for free flights: 3/5
New customers who apply by April 20 2017 can net 50,000 bonus points for a solid boost to their rewards balance: just spend at least $2,500 on the account within the first 90 days using one or both cards.
But choose your rewards option wisely – those points come as either as 50,000 Qantas Points via Qantas direct, or as 50,000 Altitude Rewards points for all other spenders, which are worth between 20,000 and 25,000 frequent flyer points, depending on which airline you choose to convert them to.
Choose Qantas and those points are enough for a one-way upgrade from discount economy to business class on flights to Singapore and Hong Kong, while choosing Altitude Rewards and converting them to Velocity lands enough points for two business class upgrades on the shortest domestic routes, with 5,000 Velocity points to spare.
However, a restrictive monthly points cap of just 3,750 Qantas Points or 7,500 Altitude Rewards points (equal to 3,750 Velocity points or 3,000 KrisFlyer/Asia Miles) will find you earning no points at all after spending just $3,750 on the Altitude Platinum American Express every month.
Inclusive travel insurance: 4/5
You may qualify for free international travel insurance on trips of three months or less when holding a return ticket before leaving Australia and using either Westpac Platinum credit card to pre-pay at least A$500 of your costs for that trip.
That can include booking your flights, pre-paying overseas accommodation expenses or charging 'overseas itinerary items' to your card such as tours, but if you use only frequent flyer points to book your trip, you're not necessarily covered.
Fortunately, the $500 count also recognises amounts paid in airport and departure taxes as part of frequent flyer reward bookings, so be sure to use your Westpac card to cover any co-pay amount with your reward flights, or to book a night or two of accommodation with the card for peace of mind.
The card also provides transit accident insurance along with purchase security protection and extended warranty cover, but other benefits like interstate flight inconvenience insurance and rental car excess cover are absent.
Airport lounge access: 1/5
Free airport lounge access isn't a perk offered by this card, but like all American Express cards issued worldwide, having one in your wallet allows you to pay US$50 for entry into the American Express Centurion Lounges across the United States.
You'll find these Centurion Lounges in places like Dallas/Fort Worth, Las Vegas, New York (LaGuardia), Miami and San Francisco, but there's no access to the American Express Lounge at Sydney Airport, even if you'd be willing to pay for a visit.
AusBT review: AMEX Centurion Lounge, New York LaGuardia Airport
Westpac Altitude Platinum cards: the verdict
Priced at $150 per year, the Westpac Altitude Platinum cards pair travel insurance with frequent flyer points and provide a choice of airlines with which to convert those points.
Yet, restrictive monthly points capping reduces the appeal of these cards to relatively low spenders rather than high flyers, and even if you add an additional cardholder to your account, that cap remains in place for the entire account – not per card or per cardholder.
It's for this reason you might instead prefer Westpac's Altitude Black AMEX + MasterCard combo, delivering uncapped frequent flyer points amid extras like airport lounge access and a fast-track to Starwood Preferred Guest Gold status, against an annual fee of $395.
Or, to earn a higher number of points per dollar in places where American Express isn't accepted, take a look at the ANZ Qantas Frequent Flyer Platinum Visa which delivers up to 0.75 Qantas Points per dollar spent, a further 50,000 bonus points to eligible new cardholders and no annual fee in the first year.