Westpac KrisFlyer Platinum Card - Should I stay or should I go...

[Kevin Chan]

Westpac used to have a co-branded Platinum card with Singapore Airline but the product have been discontinued. I still have this card after a number of years.

The annual fee is a bit steep ($250) and points/$ have done down over the years. When I first got this card it was 1.5/1.0 point on Amex/Visa and now it's 1.25/0.50 So I am contemplating if I should keep this card, or moved to something better. I put a decent amount through this card as well - $40k in last 6 months. Probably $50k a year.

Thoughts?

If I cancel the card by the end of this month, I will get the annual card fee refunded.

 

[cove]

Hello Kevin, welcome to AFF.
The Westpac Kris Flyer Amex is the best big 4 bank credit card for ATO payments as they go 1.25 points per dollar. I have two in our family and I used them both last night. Kris Flyer miles are special because of business and first class flight availability.
Many would wish that they had not churned this card because it is not issued any longer. The Westpac Black Altitude Amex earn rate is only 0.75 points per dollar.

 

[Kevin Chan]

Thanks cove. I guess in the context of earning KrisFlyer points it is still a good card to have.

I never used credit card for ATO payments given the extra fees you have to pay. I figured it's not worth the FF points you get.

I called them up to get a discount on the fees. But they refused. They did agree to cut it by half for next year. I am a bit annoyed that they refused to refund half this year and have to wait til next.

I have followed this forum on and off - lots of great tips! Thanks.

 

[Cruiser Elite]

+1 to keep it Kevo - I have 2 constant CCs - Prestige and WKF Amex - nothing on horizon to warrant any change that I can see.

 

[Buzzard]

Westpac Altitude earns 2ppd then transfers at 1:1 to Kris so effectively you earn 1 ppd.
A reasonable card for those looking to earn Kris points.

Altitude Rewards Credit Card | Westpac

 

[Cruiser Elite]

Westpac Altitude earns 2ppd then transfers at 1:1 to Kris so effectively you earn 1 ppd.
A reasonable card for those looking to earn Kris points.

Altitude Rewards Credit Card | Westpac

But no ATO pts earn whereas KF Amex / Visa does. KF Amex also earns 2.5pts on SQ outbound purchases - just another little sweetener

 

[Buzzard]

But no ATO pts earn whereas KF Amex / Visa does. KF Amex also earns 2.5pts on SQ outbound purchases - just another little sweetener

Very true CE but at least you can still apply for the Altitude card and there is a sign on bonus ATM.
Just make sure you sign on for the correct card

 

[Dyslexic traveler]

I have just changed my banking to Westpac and one of the first things I asked about was the Kriss card my personal banker told me it's been grandfathered for some years, and like me she wished she could get one, for the very reasons Cove mentioned. If I had it I'd hold it.

 

[Cruiser Elite]

Very true CE but at least you can still apply for the Altitude card and there is a sign on bonus ATM.
Just make sure you sign on for the correct card

Very true wise old Buzzard - indeed I have just taken up the Black Altitude I think to bank the sign on bonus pts (fee free too I might add) - then it will be summarily dispatched to the round file as this never ending pts chase continues

 

[get me outta here]

Thanks for the tip Buzzard. Went off to find this one, but seems to be free in 1 year only for existing customers.

Very true CE but at least you can still apply for the Altitude card and there is a sign on bonus ATM.
Just make sure you sign on for the correct card

 

[Steady]

Thanks for the tip Buzzard. Went off to find this one, but seems to be free in 1 year only for existing customers.

There is an online account you can open at no cost and requiring no deposit to meet the existing customer criteria

The Westpac Reward Saver is the one that you want. Whilst there are silly fees for actually using it, you're not forced to use it and there's no monthly fee.

I recently received 40,000 bonus points from a previous offer. Opened a Reward Saver account first to become a Westpac customer, and never deposited anything.

Reward Saver Account - Bonus Interest Savings Accounts | Westpac

 

[Mitch_W]

Hello Kevin, welcome to AFF.
The Westpac Kris Flyer Amex is the best big 4 bank credit card for ATO payments as they go 1.25 points per dollar. I have two in our family and I used them both last night. Kris Flyer miles are special because of business and first class flight availability.
Many would wish that they had not churned this card because it is not issued any longer. The Westpac Black Altitude Amex earn rate is only 0.75 points per dollar.

Hi Cove,

I also have this card and will not give it up as 1.25 KF miles per $ is the best you will get at ATO.
Regarding Westpac Black Altitude Amex, is the earn rate after conversion 1.5 KF miles for all purchases and 0.75 for ATO???
Cheers,
Mitch

 

[cove]

Hello Mitch,
Your points transfer at half the Westpac figure to Kris Flyer Miles so that means 0.75 Miles per ATO dollar spend.
Unless you are overloaded with Kris Flyer Miles for the next 3 years plus almost an extra year for bookings you would use your Platinum Kris Flyer Amex.

 

[bbqwer]

Westpac used to have a co-branded Platinum card with Singapore Airline but the product have been discontinued. I still have this card after a number of years.

The annual fee is a bit steep ($250) and points/$ have done down over the years. When I first got this card it was 1.5/1.0 point on Amex/Visa and now it's 1.25/0.50 So I am contemplating if I should keep this card, or moved to something better. I put a decent amount through this card as well - $40k in last 6 months. Probably $50k a year.

Thoughts?

If I cancel the card by the end of this month, I will get the annual card fee refunded.

This is the best card for ATO - I wish I own this card!

 

[cove]

Yes bbqwer many including my sons would love to have this card. Instead they can do the next best thing and book on our Kris Miles as redemption nominees. You get 5 of them plus yourself on each card.

 

[Kevin Chan]

Looks like opinions are unanimous. It's a keeper.

I checked out the other links here. The Altitude also has a monthly cap of 5000 as well. I definitely earn more than that in some months. Especially just before the yearly health cover increases where I prepaid 18 months ahead for all my relatives.

I never used the card for ATO. Have to do some maths to see if it's worth it.

 

[cove]

Find and pay all your relatives ATO on this one.
91,375 Kris Miles can get you from Singapore to London or Los Angeles on a Saver redemption That is about $73,000 of ATO and other Amex purchases. Google Singapore Airlines Suites class to get you thinking.

 

[Kevin Chan]

Thanks cove. Woow, you have this all worked out.

One more question if I may.... is a Paypal transaction counted as a transaction inside or outside of Australia? If you use Visa for outside you get 1.5 vs Amex 1.25. Since when it got so tricky?

 

[cove]

I don't use PayPal as I see it as just another intermediary that could get hacked. LinkedIn is a wank too so if I could figure out how to get out I would.
AFF can be very helpful and the latest friend I sent overseas has just said she really needs to get on board. Going back to long haul economy would be tough for most of our friends and it isn't too affordable paying cash. Points and miles are pretty easy to make if you concentrate on the game.

 

[Kevin Chan]

I don't use PayPal as I see it as just another intermediary that could get hacked. LinkedIn is a wank too so if I could figure out how to get out I would.
AFF can be very helpful and the latest friend I sent overseas has just said she really needs to get on board. Going back to long haul economy would be tough for most of our friends and it isn't too affordable paying cash. Points and miles are pretty easy to make if you concentrate on the game.

Some places do not accept Amex so if they accept Paypal then you can earn more points. I also like not having to hand over my credit card details to random online merchants and Paypal offer another layer of fraud protection, apart from the issuing bank itself.