It is easy to get the Westpac Altitude Platinum credit card confused with the Westpac Altitude Gold or standard card. Once you learn more about the finer features and benefits, though, you will realise that this credit card is in a class of its own. As a Money Magazine award winner, you can be rest assured that this credit card is being used by the masses – all of whom are interested in its many features, including the rewards program. With fantastic platinum level rewards and services combined with low interest balance transfers, this card’s a winner.

Benefit of the Card’s Best Features?

Upon making your first purchase, your account will be credited with 15,000 bonus points. After this, every $1 you spend with a Westpac Altitude Platinum American Express card results in 3 Altitude points. If you spend using the Visa or MasterCard version, you will only receive 1 Altitude point for every $1 spent. This dual card setup makes it much easier for you to optimise how you spend in order to earn more points and is a feature of most of Westpac’s card offering. As with the gold and standard versions, there is no cap on the number of points that you can earn. Additionally, there is no expiration date.

In the same mould as the Westpac Altitude Gold card, the Platinum card offers many types of insurance coverage including: overseas travel insurance, transit accident insurance, purchase security insurance, and extended warranty insurance. While there are caveats, such as being only covered by the travel insurance policy only while travelling on a ticket purchased with the card (standard with any credit card travel insurance policy), it does give you added confidence when travelling or shopping to know that you’ve got additional cover.

All Platinum cardholders have access to the Westpac Altitude Platinum Concierge. If you need help booking travel accommodations or finding entertainment at home or while on the road, you can call this concierge service 24 hours a day, 7 days a week.

Are you looking for a card that you can use to transfer a balance? If so, the Westpac Altitude Platinum credit card’s balance transfer offer may be of interest to you. Admitedly the deal isn’t the cheapest or longest available, but at a low 3.99% p.a. for up to 6 months, you’re going to save money compared to the standard ongoing purchase rate you’re probably paying currently.

Are There Any Drawbacks?

Are you easily turned off by large annual fees? If so, the Westpac Altitude Platinum credit card may not be the right card for you. Although you get a lot for your money in terms of a higher rewards earn rate and complimentary insurance cover, you will have to part with $295 p.a. each year for the privilege.

The question that you need to answer is simple: are all the benefits of the Westpac Altitude Platinum credit card worth the annual fee and will you spend enough on the card to outweigh the expense of the annual fee with rewards points? Also, the interest rates that apply to purchases (19.99% p.a.) and cash advances (21.59% p.a.) are fairly standard, offering no benefit as compared with other cards.

Who is Eligible?

This is a platinum level card, so expect the approval criteria to be higher and more strict. To be eligible for the Westpac Altitude Platinum credit card you must meet three requirements: above average credit score, 18 years or age or older, and an annual income of at least $65,000.

Who Would be Suited?

Despite the fact that this is one of the best reward cards around, the Westpac Altitude Platinum is not the right choice for everybody. Not only is there a high income requirement, but the high annual fee is nothing to overlook. Business professionals, frequent travellers, and people who spend a lot will find this card best suited to their needs.