Like its siblings, the Bankwest More Gold MasterCard is a bit of a wild goose chase when it comes to getting down to the nitty gritty and finding all the right information. With interest rates usually being the first thing that people look for when assessing a credit card, it was strange to see that these weren’t included on the credit card’s information page.

But seeing as we’ve got the information, how about we share it with you?

A number of the core features on the More Gold MasterCard are exactly the same as the standard More MasterCard. There’s the interest free period which is up to 55 days, the interest rates (on purchases and balance transfers, and for cash advances) and also the points earning rate of 1.5 points per dollar spent on the More Gold MasterCard.

But that’s where the similarities end and the advantages of having the Gold card over the standard More MasterCard shine through. For  more in annual fees, the BankWest More Gold MasterCard has everything that the standard More MasterCard was missing. For starters, you get 10,000 bonus points from Bankwest when you activate your credit card and the maximum points you can earn is capped at 200,000 (as opposed to 150,00 on the standard credit card).

You’ll also get purchase protection which will cover you if items that you have bought on your credit card are lost, stolen or damaged within three months from the purchase date. Extended warranty on these goods means you’re also covered for an extended warranty period that matches that of the manufacturer’s warranty.

Transit accident insurance is also included, along with the big kahuna of credit card benefits….travel insurance, which is available for trips up to 3 months in length. As an added benefit, you’ll also get great discounts and offers from MasterCard Moments, purely for having a Gold MasterCard.

Overall, the Bankwest More Gold MasterCard is evidence of yet another Gold credit card that is by far better than the standard option, and possibly better value than the Platinum option. The interest rates are fairly run of the mill for a Gold credit card, but the rewards program in combination with the interest free days, travel and insurance benefits make it a worthwhile rewards credit card to consider.

See our top credit card picks in the Editor’s Choice category

The Bankwest More MasterCard is the most basic of the Bankwest credit cards with rewards.

On any purchases you make you’ll be charged interest, unless of course you pay your balance in full each month and can take advantage of up to 55 days interest free. Cash advances earn a little more interest which is unfortunately at the higher end of the cash advance interest rate scale. Balance transfers are available; however there isn’t an introductory rate like on a lot of other balance transfer credit cards. Instead Bankwest just offers the same interest rate as purchases.

The Bankwest More MasterCard has over 2,800 rewards (including cash back) available for redemption with Bankwest’s More Rewards points and to boost your initial points total, Bankwest gives all new More MasterCard holders 5,000 bonus More rewards points when you activate your credit card.

Every dollar spent on your More MasterCard will earn you 1.5 rewards points. While there is no set rate at which rewards are priced (as some rewards with the same values have varying points prices), a $100 voucher on the Bankwest More Rewards program will in most cases cost you 22,150 points.

That’s a spend of just under $15,000. A point to take note of however is that it seems as if the more ‘expensive’ the rewards are the more value you’ll get from your points. For example, you can redeem 12,000 More Rewards points in exchange for a $50 Woolworths voucher. So by standard logic you would then expect a $100 voucher to cost 24,000 points, but this is not the case. It is actually cheaper, at $22,150.

If you are spending a lot of money on your credit card quite regularly then it might be worth holding out for the higher value rewards. If not then opt for the lower points more regularly as the general redemption rate is quite high in comparison to other credit cards’ rewards programs.

For a basic credit card with rewards, Bankwest’s More Rewards credit card has quite an expensive annual fee and interest rates, without any other benefits to justify these prices. And despite there being a huge range of rewards to choose from, the redemption rate is not quite competitive enough to make this card a valuable addition to your wallet.

See our top credit card picks in the Editor’s Choice category

FEATURES SUMMARY

 

 

• Annual fee: Low annual fee
• Purchase rate: Low p.a. purchase rate
• Cash Advance rate: Low p.a. cash advance rate
• Balance Transfer rate:  Low p.a. balance transfer rate
• Interest-free days: Up to 55 days

• Extras:
  • Phone internet banking
  • Up to 9 additional cardholders
  • Visa Entertainment benefits
  • Worldwide emergency card replacement

The ANZ Gold Credit Card offers much the same benefits as the ANZ Frequent Flyer Platinum credit card without the huge price tag, enabling it to come in second in the Editor’s Choice – Gold credit cards category. With a low annual fee a year it is even cheaper than the standard ANZ Frequent Flyer card.

While it is not the cheapest credit card on offer from ANZ in terms of its interest rate  it has a number of features that make it stand out from the rest, and also give it the title of #1 Editor’s Choice in the Gold Credit Cards Category. One  example of why it is the leader in this category is a great introductory offer on balance transfers.

With a low balance transfer rate, a small balance transfer could be paid off at a much cheaper rate than what you would normally be paying for that balance on a different credit card. The only catch is that you have to apply for your transfer at the same time as you apply for the Gold credit card.

The ANZ Gold card also includes the following travel insurance benefits:

- 90-day purchase security (after the expiry of the product warranty)*
- Overseas medical and travel insurance*
- Commission free travelers cheques*

This card sits on the middle of the scale in terms of price, but makes up for any price-related concerns you may have by having very reasonable rates for pretty much all of its features, rather than just focusing on one, like a lot of other credit cards tend to do.

See our top credit card picks in the Editor’s Choice category