Bankwest Zero Gold MasterCard

Awarded the ‘Best Transactor Credit Card’ in Money Magazine’s Best of the Best Awards 2011, the Bankwest Zero Gold MasterCard comes with an extremely low purchase rate, top end purchase protection, and complimentary insurance all without having to pay a single management fee! If this sounds appealing then read on for our review of this card’s best and worst features.

Benefit of the Card’s Best Features?

The Bankwest Zero Gold MasterCard comes with an impressive purchase rate of just 17.99% p.a., but this drops to just 0% p.a. for the first 6 months making it ideal for anyone who wants a low-cost card for everyday purchases.

It also comes with 90 day purchase protection, which covers you for the loss, damage or theft of any items you buy using your credit card. Cardholders also get 12 month extended warranty cover that can be tacked on top of the manufacturers standard warranty.

And that’s not all; all accountholders receive free airline travel and accident insurance when they pay for tickets with their credit card, making this card a strong contender for frequent travellers.

As the Bankwest Zero Gold is a MasterCard, all cardholders can take advantage of PayPass payment technology, allowing you to pay for low cost items by simply tapping the card on the merchant’s reader – perfect for anyone in a hurry.

Another one of the benefits is the fact that there is a $0 p.a. annual fee and it also costs $0 p.a. for an additional cardholder to be added to your account.

Are There Any Drawbacks?

Unfortunately the balance transfer rate isn’t as competitive as the purchase rate. At 4.99% p.a. for the first 9 months, there are cheaper credit cards on the market that can offer 0% as an introductory offer. With this in mind, if you’re looking to transfer balances to have a break from interest charges, then consider looking elsewhere.

Who Would be Suited?

The Bankwest Zero Gold MasterCard is ideal for anyone looking for a low cost credit card. Not only do you get a fantastic rate of interest, but cardholders can take advantage of gold card benefits, without having to pay annual management fees. The Zero Gold card would also suit those of you with good credit looking for a first time credit card or want a card to use only for odd occasional purchases.

Who is Eligible?

If you’re over 18, then you’re in luck! You’ll also need to be earning $50,000 per annum or more to be eligible for an account. Credit limits vary and will depend on your salary and credit history.

Conclusion

With no annual management fee, you can’t go wrong with the Gold MasterCard from Bankwest. The card not only has a very low interest rate on purchases, but also comes jam-packed with benefits that are usually only seen with credit cards that charge a premium. If you are looking for your first credit card, or are currently paying sky-high interest on your current account then consider switching now!