Westpac Hotpoints Platinum MasterCard Credit Card

Gold Award

The Westpac Hotpoints Platinum MasterCard Credit Card is a reward credit card that allows you to earn 1.5 Hotpoints for every $1 spent on your card up to (and including) $7,000 then 1 Hotpoint for every $1 spent on your card each month. Other benefits of the Westpac Hotpoints Platinum MasterCard Credit Card include free overseas travel insurance, purchase protection, extended warranty and a balance transfer of 5.95% p.a. for the life of the balance transferred. The Westpac Hotpoints Platinum MasterCard charges an annual fee of $70 and a purchase rate of 20.95% p.a.

This card might be suitable for you if the benefits offered outweigh the annual cost of having the card. Frequent travellers who can take advantage of the complimentary travel insurance might benefit from this card. We encourage you to compare all the credit cards with rewards on our website before you decide.

Rewards Points Cash Equivalent

Up to $7,000 spend:

$100 spend earns you $0.83 cash-equivalent^.

Over $7,000 spend:

$100 spend earns you $0.55 cash-equivalent^.

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases reward points cannot be redeemed for cash directly. See below to find out how the estimate was calculated.

Points Cash Equivalence Calculation

If $1 spend (up to $7,000) earns you 1.5 Hotpoints then $100 spend earns you 150 Hotpoints. If $1 spend (above $7,000) earns you 1 Hotpoints then $100 spend earns you 100 Hotpoints. We know that 18,000 Hotpoints gets you a $100 Bunnings Gift card. Which means 150 Hotpoints equal (100x150/18,000) = $0.83 cash-equivalent and 100 Hotpoints equals (100x100/18,000) = $0.55 cash-equivalent.

Key Features

Purchase Rate: 20.95% p.a.
Cash Advance Rate: 22.95% p.a.
Balance Transfer: 5.95% for life of balance transferred
Annual Fee: $70 p.a. per year Paid in two 6-monthly instalments of $59.50.
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Earn 1.5 hotpoints for every $1 spent on your card up to (and including) $7,000 then 1 hotpoint for every $1 spent on your card each month
Credit Limit: $10,000 Minimum credit limit
Other Fees:

IMPORTANT NOTE: please review the credit card details on the provider's website again before applying.

Westpac Hotpoints Platinum MasterCard Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the Westpac Hotpoints Platinum MasterCard Credit Card to help you decide.

Pros

Earn 1.5 hotpoints for every $1 spent on your card up to (and including) $7,000 then 1 hotpoint for every $1 spent on your card each month
Extended warranty Insurance of up to 12 months for goods purchased on your hotpoints Platinum Mastercard
90 days' Purchase Protection that could cover loss, theft or accidental damage
Complimentary overseas travel insurance

Cons

Travel Insurance only covers 35 days per round trip
Hotpoints earn rate decreases when you spend more than $7,000

What We Like About the Westpac Hotpoints Platinum Mastercard

The Westpac Hotpoints Platinum Mastercard offers a rewarding points system that allows you to earn points on every dollar you spend. These points can be redeemed for a variety of rewards, including travel, merchandise, and gift cards. This makes it an excellent choice for those who want to get more value out of their everyday spending.

Cardholders can enjoy complimentary travel insurance, which might be of value to overseas travellers. Additionally, you can access exclusive travel deals and discounts, making your holidays more affordable and enjoyable.

The Westpac Hotpoints Platinum Mastercard also offers purchase protection, which provides coverage for lost, stolen, or damaged items bought with the card. This added layer of security ensures that your purchases are protected, giving you peace of mind when shopping.

Drawbacks of the Westpac Hotpoints Platinum Mastercard

Annual Fees

One of drawbacks of the Westpac Hotpoints Platinum Mastercard is its annual fee of $70.

Limited Travel Insurance

The complimenatary travel insurance only covers 35 days for a round trip.

Is the Westpac Hotpoints Platinum Mastercard Right for me?

When considering the Westpac Hotpoints Platinum Mastercard, your spending habits play a crucial role. If you frequently use your credit card for everyday purchases, the reward points system can be highly beneficial. However, if your spending is minimal, you might not accumulate enough points to make the annual fee worthwhile.

This card offers several travel perks, making it ideal for frequent travellers. Benefits such as travel insurance and access to exclusive airport lounges can enhance your travel experience. If you rarely travel, these perks may not provide significant value.

Your financial goals should also influence your decision. If you aim to maximise rewards and enjoy premium benefits, this card could be a good fit. On the other hand, if you are focused on minimising costs and avoiding annual fees, you might want to consider other options.

In general, we recommend comparing all credit cards on our website to help you make an informed decision.

Maximising Your Benefits with the Westpac Hotpoints Platinum Mastercard

Optimal Spending Strategies

To get the most out of your Westpac Hotpoints Platinum Mastercard, focus on using it for everyday purchases. This includes groceries, fuel, and dining out. By doing so, you can accumulate reward points faster. Additionally, consider setting up automatic payments for recurring bills like utilities and subscriptions. This ensures you never miss an opportunity to earn points.

Redeeming Reward Points

Redeeming your reward points wisely is crucial. You can use your points for a variety of options, such as travel, gift cards, or even cashback. To maximise value, keep an eye out for special promotions or discounts that offer more bang for your buck. It's also a good idea to regularly check your points balance and expiry dates to avoid losing any hard-earned points.

Utilising Travel Perks

The Westpac Hotpoints Platinum Mastercard comes with several travel benefits. Make sure to take advantage of complimentary travel insurance when booking trips. This can save you money and provide peace of mind.

Frequently Asked Questions

How do I earn reward points with the Westpac Hotpoints Platinum Mastercard?

You earn reward points for every dollar you spend on eligible purchases. The more you spend, the more points you accumulate.

How much is a Westpac Hotpoints worth?

1 Hotpoint = 0.55 of a cent when redeemed for Gift Cards.

The value of Westpac Hotpoints varies based on how and where you redeem your points. We have provided one example below to give you an indication of the value but for a more precise figure, you should check the specific redemption options available through the Westpac site.

18,00 Hotpoints = $100 Bunnings Gift Card

This means 1 Hotpoint = 0.55 of a cent in Gift Cards.

How can I redeem my Westpac Hotpoints?

Westpac Hotpoints can be redeemed in several ways, including as gift cards, products, charity donations, KiwiSaver contributions or by using Hotpoints Pay which allows you to use your Hotpoints wherever MasterCard is accepted (essentially turning your Hotpoins into cash). You can find out how to redeem your Hotpoins on this site.

Are there any travel perks with this credit card?

Yes, this card offers travel perks such as Priority Pass lounge access to over 1,500 airport lounges worldwide and overseas travel insurance for up to 120 days per trip.

Are there any travel benefits with the Westpac Hotpoints Platinum Mastercard?

Yes, the card offers various travel benefits, including travel insurance and access to exclusive travel deals.

Can I use my Westpac Hotpoints Platinum Mastercard overseas?

Yes, you can use your card internationally wherever Mastercard is accepted. However, foreign transaction fees may apply.

What should I do if my Westpac Hotpoints Platinum Mastercard is lost or stolen?

If your card is lost or stolen, you should contact Westpac immediately to report it and request a replacement.

Eligibility Criteria

Your eligibility for this card would depend on a few criteria listed below. When you apply for a Westpac credit card, Westpac would ask you a few questions about the following criterias to determine your eligibility.

Income
Expenses
Debts
Assets
Savings
Investments

You have to be a New Zealand permanent resident, and have a good credit history to apply for a Westpac Credit Card.

Documents:

In general the following documents are usually required for credit card applications.

Proof of Income

One of the following:

your most recent payslip or salary notice
copies of bank statements that show your pay or salary deposits
a letter from your employer confirming your income
an Inland Revenue Department (IRD) “summary of earnings” notice.

If you’re self-employed, you must supply:

signed financial statements for the past two years
a signed personal Statement of Financial Position
your personal tax return.

Proof of Identity:

A copy of one or two items from List 1. If you provide only one item from List 1, you must also provide one item from List 2.

List 1:

Current passport
New Zealand drivers licence
18+ card
Photo Credit Card

List 2:

Most recent bank statement
Debit card
Credit card
Community services card
Club or society card.

Are you interested in a balance transfer? Compare ALL balance transfer credit cards on our balance transfer NZ page.

More Info »

Apply Now »

What is the best credit card in New Zealand?

We've been asked this question a lot so we have compiled our pick of the best credit card in NZ but keep in mind that the best credit card for you depends on your personal circumstance and needs. To find the best credit card for you, we recommend that you compare all credit cards in NZ on our website or narrow down your search by popular credit card types as shown below. Use the top menu of the page to select more credit card types.