Westpac Credit Card Rewards

The Westpac Altitude rewards program is definitely one of the most appealing on the market, and the related Altitude credit cards offer good value to those who really want to maximise rewards program benefits. The rewards catalogue is one of the largest out there, and everything from merchandise to travel is available for redemption.

While many banks offering credit cards at this level offer multiple cards to an account, you don't often see an American Express credit card alongside a Visa or MasterCard credit card on the one account. That's included as part of the basic package, and for those of us interested in credit card rewards, the advantage comes when using the Amex card.

The points potential is hard to beat, and the overall fees are a lot cheaper than you would normally have to pay for these sort of privileges. The rewards structure for the Visa and MasterCard options is still competitive, but the Amex alternative sets the standard amongst competitors. Just make sure you understand that you need to pay your balance in full each month if you want to take advantage of any interest free days - essential to maximising the value of these types of credit cards.

Details, terms and conditions are all subject to change without notice, so always double check information with the relevant financial institution. Any ratings are opinions of creditcardrewardprograms.com.au and may not take into account your individual requirements. Always perform your own research when selecting a credit card.

Westpac Altitude Rewards Program

Altitude MasterCard or Visa - $1 Spent = 1 point
Altitude American Express - $1 Spent = 2 points
Minimum Spend to Earn a Reward* - $1700 (using Amex credit card)
Range of Rewards - High
Swap for Airline Rewards - Yes
Bonus Points - Yes
Maximum Points* - Unlimited
Value of Cards - Good

*Not including bonus points/special offers. Points are calculated per annum unless otherwise stated.

The Westpac Altitude Classic and Gold credit cards both allow you to access the rewards program at similar levels. The Gold card option obviously gives you more features, such as various forms of insurance, but this comes at the cost of a higher annual fee.

Still, both cards represent good value, and they both offer two-for-one points when using the American Express card, no capping on points earned and no expiry of points (as long as your account stays current and in good order). What more could you want?

Well, there's a large range of awards that start from gift vouchers and include everything up to 52in flat-screen TVs for those who don't mind saving their points for a bigger prize. Plus, with an attractive list of bonus partners, you will be earning extra points sooner. The list of partners is quite extensive, and with names like Hoyts on the list, you will probably find bonus partners you can use on a more regular basis.

There is the popular option of points plus pay, which allows you to make up the difference between points and awards with cash, and you can trade you points for related airline rewards. Although, this is done at a reduced rate, and April 2009 signals the end of Qantas Frequent Flyer trading.

A better option is to utilise you Altitude points to book flights directly with a range of providers, and a handy online tool lets you calculate points requirements to a range of destinations. A number of special offers come up from time to time when it comes to redeeming points for rewards, and you can check out the Altitude website for the most current offers.

If you're willing to step up another level of credit card, it's worth checking out the Platinum Altitude credit card.

Westpac Altitude Platinum Rewards Program

Altitude Platinum MasterCard or Visa - $1 Spent = 1 point
Altitude Platinum American Express - $1 Spent = 3 points
Minimum Spend To Earn A Reward* - $1133 (using Amex credit card)
Range Of Rewards - High
Swap For Airline Rewards - Yes
Bonus Points - Yes
Maximum Points* - Unlimited
Value Of Card - Good

The Westpac Altitude Platinum Rewards program is very comparable to the related Altitude cards, but with some important differences. Primarily, the earning potential using the Amex Platinum card is significantly higher at three points per $1 spent.

The credit card itself represents good value compared to other platinum cards on the market (provided you are interested in using the features). For an annual fee of $295, you get a full complement of insurance and many of the usual benefits associated with platinum credit cards (such as a concierge).

You still get interest-free days with the Altitude Platinum, and the rewards points remain uncapped while never expiring. In some cases, you can earn up to six points for every dollar spent when using the American Express branded card with eligible bonus partners - that's fantastic potential to earn a bucket load of points.

Again, like Westpac's other two cards, you can trade Altitude points for related airline rewards program, but this is at a reduced rate. You still have the Altitude travel booking program, and Platinum card holders have the privilege of the 'Personal Shopper'. Westpac allows you to choose 'almost anything from almost anywhere' and then allows you to use points to pay for said items.

Overall, Westpac's Altitude credit card rewards program offers market leading value that's hard to beat. To compare credit card rewards program, check out our Best Credit Card Rewards picks.