How your credit card could cover you for purchase value, repayments and even product warranties
Most people know that rewards cards come with travel insurance4 that covers you for costs such as medical expenses, lost luggage and damage to property. But look closely and you may find your card also comes with some cover that you’ve never heard of.
Rewards credit cards don’t just give you a way to earn rewards points as you spend on eligible purchases – some also come with a range of insurance and other benefits that apply to things you purchase with your card, at no added cost.
While complimentary insurance4 isn’t a reason to go on a spending spree, if you were going to buy a certain item anyway, it may be worth putting it on your card for extra peace of mind.
Note that because every card offers different benefits, you should check the details of what’s covered by any complimentary insurance4 that’s included on your card.
Cover if your purchases are lost, stolen or damaged
Access to up to 4 months Purchase Protection Insurance on eligible purchases, as set out in the Credit Card Complimentary Insurance Policy (terms, conditions, exclusions and eligibility criteria apply).
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Extended warranties on your appliances
Up to 24 months extended warranty insurance cover (in addition to the manufacturer's expressed Australian warranty) on a range of personal items purchased using your Credit Card (terms, conditions, exclusions and eligibility criteria apply).
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If you would like to learn more, have a look at the Westpac Credit Cards Complimentary Insurance Policy (PDF 898KB).
Things you should know
Credit criteria, fees and charges apply.
Be credit savvy: Before applying, consider a realistic credit limit and check all conditions, interest rates, fees and charges on your selected card.
Altitude Rewards: You must be a member of the relevant transfer partner program to redeem Altitude Points for that partner’s rewards or frequent flyer points. The Altitude Terms and Conditions and the terms and conditions of the relevant transfer partner programs apply. A joining fee may apply. For more information on the Altitude Rewards program, visit altituderewards.com.au.
Altitude Velocity or Qantas: In order to earn and redeem points, you must be a member of the relevant Frequent Flyer program. An annual $75 Rewards Program Fee applies for customers who choose this option.
4. Complimentary insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) which allows eligible persons to claim under it as third party beneficiaries. Access to the benefit of cover under the Credit Card Complimentary Insurance is provided to eligible Westpac cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth). If an eligible persons wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, limits and exclusions contained in the Complimentary Insurance Policy Information booklet (PDF 898KB) which may be amended from time to time. This insurance is underwritten by Allianz. Westpac does not guarantee this insurance. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it.
6. Rewards Points: The earning and redemption of Altitude Points, Velocity Points and Qantas Points are subject to the Altitude Terms and Conditions (PDF 117KB). Purchases that are not eligible to earn Rewards Points are set out in the Altitude Terms and Conditions (PDF 117KB). You do not receive points if you have not paid the Minimum Payment Due in full and on time and in other circumstances. Points earnt for PartPay (PDF 96KB) Purchases are based on the full value of the purchase, and not on each instalment amount. Qantas and Velocity Points earned during a statement cycle are added to your respective Points balance on a monthly basis.
For Altitude Qantas Platinum cards, earn 0.5 Qantas Points per $1 up to a maximum of $100,000 spent on eligible purchases annually. For Altitude Qantas Black cards, earn 0.75 Qantas Points per $1 up to a maximum of $250,000 spent on eligible purchases annually. This annual limit resets in January each year, based on your statement date. Bonus Points earned are not part of your annual cap.
Concierge Services for Altitude Black. Concierge services are provided by a third party supplier. For further details including terms and conditions visit westpac.tenconcierge.com