Bankwest Zero Platinum Mastercard: Full Review and Guide (Australia)

ByThiago SF SF

The Bankwest Zero Platinum Mastercard is a popular Australian credit card designed for consumers who want premium-style benefits without paying an annual fee.

It focuses on simplicity, cost savings, and strong everyday value.

This card is ideal for people who dislike fees, frequently shop online, or travel overseas.

Unlike many premium cards that charge high annual fees, the Bankwest Zero Platinum Mastercard provides platinum perks—such as complimentary insurance—while staying budget-friendly.

It is not a cashback or points-earning card. Instead, it aims at customers who want affordability, low overheads, and useful travel protections.

Main Benefits and Rewards

Although it does not offer traditional rewards like cashback or points, the card delivers valuable platinum benefits that many fee-free cards do not match.

Rewards Structure

  • No points program
  • No cashback system
  • No miles or travel points

Instead, value comes from low fees and strong overseas performance.

Welcome Bonus

  • The card typically does not offer a welcome bonus.
  • Its primary “bonus” is the lack of annual fee and strong insurance cover.

Additional Benefits

  • Complimentary Overseas Travel Insurance (subject to eligibility and activation rules)
  • Purchase Security Insurance
  • Extended Warranty Insurance
  • Priceless Mastercard Perks
  • No Annual Fee — Ongoing
  • Competitive international use features

These insurance features are uncommon for a $0-fee card, making it very competitive in the Australian market.

Annual Fee and Overall Costs

One of the main attractions of the Bankwest Zero Platinum Mastercard is its $0 annual fee, not just for the first year, but every year.

Is the Zero Annual Fee Worth It?

This card is especially valuable for:

  • People who want platinum-level insurance without paying hundreds per year
  • Customers who want a long-term, low-cost credit card
  • Australians who want a backup card for travel

Other Potential Costs

  • Cash advance fees
  • International transaction fee
  • Late payment fees
  • Standard interest charges if you carry a balance

While the card itself is free, costs may arise from how you use it.

Rates and Fees

Purchase Rate

  • The card’s standard purchase interest rate is typically high, so it performs best when balances are paid in full monthly.

Cash Advance Rate

  • Cash advances attract a significantly higher interest rate and start accruing interest immediately.

Balance Transfer

  • Bankwest usually does not promote special balance transfer offers on this specific card.
  • Standard balance transfer interest rates will apply if offered at application time.

International Transaction Fee

  • The card charges a foreign transaction fee, making it less ideal for heavy overseas purchases compared to certain no-forex-fee cards.

Is It Good for Overseas Use?

Yes — but with caution.
The travel insurance is valuable, but the foreign transaction fee means other cards may be cheaper for overseas spending.

Approval Requirements

The Bankwest Zero Platinum Mastercard is moderately difficult to obtain because it is classified as a platinum-tier card.

Typical Credit Score Needed

  • Good to very good credit score (Australian scoring range: 0–1,000 or 0–1,200 depending on the bureau)

Income Expectations

  • While no official minimum is advertised, platinum cards usually favour:
    • Stable income
    • Consistent employment
    • Clean credit history

Approval Difficulty

  • Moderate
  • Easier than premium rewards cards but harder than basic starter cards

Pros and Cons of the Bankwest Zero Platinum Mastercard

Pros

  • $0 annual fee — ongoing
  • Strong insurance benefits uncommon for a free card
  • Platinum features without premium pricing
  • Ideal for emergencies or as a backup travel card
  • Simple, low-maintenance design

Cons

  • No rewards program
  • International transaction fees
  • High interest rate on purchases
  • No welcome bonus
  • Not ideal for heavy travellers who prefer no-forex-fee cards

Who Should Apply for the Bankwest Zero Platinum Mastercard?

This card suits several types of consumers, especially those who want value without complexity.

Best Candidates

  • Australians wanting a fee-free card
  • Travellers who want insurance but not rewards
  • Budget-conscious families
  • Students or young professionals with good credit
  • People looking for a secondary or emergency card

Lifestyle Match

  • Good for casual travellers
  • Great for fee-averse shoppers
  • Not ideal for heavy international spenders or points enthusiasts

Competitor Comparison

Here is how it compares with similar Australian cards.

Bankwest Zero Platinum vs. ANZ First Visa

  • ANZ First Visa has a moderate annual fee
  • ANZ offers more expansive customer service features
  • Bankwest wins on cost due to $0 annual fee

Bankwest Zero Platinum vs. Westpac Lite Card

  • Westpac Lite charges a monthly fee
  • Westpac Lite has no interest charges but capped fees
  • Bankwest is better for traditional card users who pay in full
  • Westpac Lite is better for those who often carry balances

Final Thoughts on the Bankwest Zero Platinum Mastercard

The Bankwest Zero Platinum Mastercard stands out as one of the best fee-free credit cards in Australia.

It delivers valuable platinum insurance benefits without costing a cent in annual fees. Although it lacks rewards and charges foreign transaction fees, it remains an excellent low-cost card for everyday use, emergencies, and occasional travel.

It is worth applying for if you want affordability, simplicity, and useful protections without extra charges.

Disclaimer

This article is for informational purposes only. We are not affiliated with banks, card issuers, or financial institutions.

All fees, rates, and benefit details may change at any time. Always check the official website of the card issuer for the most accurate and updated information before applying.

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