Review: Westpac Altitude Black Mastercard credit card (Altitude Rewards)

Fees, charges and interest

• Annual fee: Discounted $150 card fee for the first year ($250 thereafter)
• Qantas Rewards fee: $50/year (charged in addition to the base card fee, but only when earning points via Altitude Qantas)
• Additional cardholder fee: $0
• Interest rate on purchases: 19.99% p.a.
• Interest-free days on purchases^: Up to 45
• Interest rate on cash advances: 21.49% p.a.
• International transaction fee: 3.0%
• Minimum income to apply: $75,000 p.a.
• Minimum credit limit: $15,000

Earning points for free flights

There's no limit to the number of points you can earn from your Altitude Black card.

Altitude Rewards gives cardholders the opportunity to earn points from their credit card spends, while deciding what to do with those points later on – such as when it's time to travel.

That's where the card's flexibility proves extremely useful.

By allowing you to convert points to different airlines, you'll be able to plan each trip without being tied to a specific airline program: and if one frequent flyer scheme doesn't have flights that suit, you can check what another is offering, all before converting your points.

When international travel returns, Singapore Airlines first class is just one of your many options.

Separately, the option of earning Qantas Points directly into Qantas Frequent Flyer is available too, but comes in exchange for that flexibility, as your points would then be locked into the Qantas Frequent Flyer program. Additionally, your points earn potential is capped to $250,000 annual spend. 

Comparing the two rewards options, it's certainly true that when choosing Altitude Qantas, the number of actual frequent flyer points earned per dollar spent is more generous than the number of frequent flyer points or miles earned via the Altitude Rewards path.

Having said that, it's also widely known that Qantas regularly charges more points – sometimes, significantly so – to book comparable flights than some of those Altitude Rewards transfer partners.

As such, while you could earn more frequent flyer points via the Qantas path, you'll most likely need to spend more of those same points when it comes time to fly: and that's on top of the relatively high taxes and fees as are also often levied on these tickets by Qantas.

Altitude Black travel insurance

Overseas journeys of six months or less may be covered by Westpac's complimentary insurance offering – underwritten by QBE – provided you hold a return ticket and charge at least A$500 of eligible travel costs to your Altitude Black card before departing Australia.

That amount could include your flights, any airport and departure taxes, pre-paid accommodation, or any 'overseas itinerary items' such as an arranged tour, so it may be possible to book your flights using points and simply pre-pay a night or two of accommodation, to qualify for coverage.

Interestingly, the policy's definition of "overseas" also includes journeys to and from Christmas Island, Cocos Island, Lord Howe Island and Norfolk Island, from mainland Australia or Tasmania.

Restrictions to this cover may apply during the COVID-19 pandemic.

While the policy doesn't specifically rule out cover for "pandemics", it does state that there's no cover if you "fail to follow advice or take heed of a warning from any government, any official body, or any publication or broadcast by any member of the mass media."

For example, the Australian Government's blanket "do not travel" warning on overseas travel may see such journeys not insured for the time being, even if the traveller is able to acquire an 'exemption' to leave the country.

Other insurance cover

On the home front, a generous array of other insurance covers come packaged with the card and may be more useful for now, including transit accident insurance; interstate flight inconvenience insurance; purchase security, extended warranty and 'price guarantee' covers; and even rental car excess cover of up to $5,500 when hiring in Australia.

Of course, check the policy documents – and with the card issuer and insurer – to confirm eligibility and whether any additional restrictions are currently in effect.

Airport lounge access

Altitude Black cardholders are treated to two airport lounge visits each year, depending on their frequent flyer earning preferences.

Cardholders collecting Altitude Points receive a complimentary Priority Pass airport lounge membership, offering with two free visits every year to any of the 1,300+ lounges in its network, and further visits available at an additional fee.

Alternatively, 'lounge visits' can be redeemed for a food and beverage credit at participating airport cafes, bars and restaurants, including in several Australian domestic airports. Check the Priority Pass website for the latest listings.

Those earning Qantas Points instead receive two Qantas Club lounge passes per year, valid in domestic Qantas Clubs and Qantas international business class lounges with the exception of Los Angeles.

Westpac Altitude Black credit card: the verdict

With a $150 first year card fee and $250 thereafter, the Westpac Altitude Black card appeals to higher spenders and frequent travellers, and may quickly pay for itself for those poised to take full advantage of its benefits.

Included on that roster: complimentary airport lounge visits, a $250k annual cap on frequent flyer points, and the long list of insurance covers, which may help you wind up ahead.

Those choosing to earn Qantas Points do pay an extra $50/year charge – taking the total yearly cost to $300 – whereas those preferring Altitude Points pay only the base card fee of $150 in the first year and $250 thereafter, with no separate 'Altitude fee'.

You can apply for the Westpac Altitude Black credit card here.

Bank disclaimers: ^The interest free period is the maximum number of days during which interest is not charged on new purchases. If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.

1. Converting Altitude Points: You can redeem the points earned on your Altitude Black Altitude Rewards credit card for cash back or gift cards via the Altitude Rewards website. The estimated cashback and gift card value in above examples are based on current redemption rates as at 20th July 2020 and is subject to change without notification. All redemption of Altitude Rewards points are subject to availability and the Altitude Rewards Terms and Conditions (PDF 2MB).