What are the FX rates on the Bankwest Qantas cards like?

5 replies

Greg84

Member since 03 Nov 2014

Total posts 127

What are the FX rates on the Bankwest Qantas cards like? I currently operate the 28 Degrees/Citi Plus Savings combo for OS travel, but obviously earn no points for my spend. I know there are no conversion fees, but interested in people's experience with the rate used. Cheers

PeterLoh

Qantas - Qantas Frequent Flyer

Member since 25 May 2012

Total posts 356

I've always received the Mastercard interchange rate on my Bankwest cards (or close to it), so it's a great rate.

Greg84

Member since 03 Nov 2014

Total posts 127

Great, thanks for the reply

ji

Member since 14 Jan 2013

Total posts 19

I think that the exchange rate is a globally set rate by Visa and Mastercard - not the card issuers. Therefore, if you used the cards at exactly the same time (and they were the same brand i.e. Visa) then you would receive exactly the same FX rate.

deanr

Member since 04 May 2015

Total posts 58

That's correct for the baseline rate, but some banks pad this rate and swing it firmly in their favour, before then charging customers an extra ~3% fee on top to really clean up.

TomTom77

Qantas - Qantas Frequent Flyer

Member since 03 Nov 2015

Total posts 45

The Bankwest Qantas platinum is my favorite card for FX, it's the only Qantas credit card that has a 0% transaction fee. Most other credit cards are around 3%

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