Westpac rolls out new American Express credit cards

Currently, applications are available by invitation only due to the fact that the application process requires a unique ‘personal offer code’ to get past the first screen.

The new card range offers a Black-level American Express with a choice between earning Qantas Points or Altitude points in a customer’s existing Westpac Altitude Rewards account, and a Platinum-grade card with the same options.

By having American Express issue these cards as opposed to Westpac directly, the bank is able to continue offering high frequent flyer earning rates that otherwise wouldn’t be sustainable with a Westpac-backed AMEX, under new credit card ‘interchange fee’ regulations imposed by the Reserve Bank.

Customers will benefit from no annual fee in the first year (USD 199 thereafter), with two yearly visits to the AMEX Lounges at Sydney or Melbourne Airports included as well, along with the expected travel insurance inclusions, and no points capping. All new branded cards attract a 3% international transaction fee on foreign purchases.