Card Review: Westpac business credit cards

Apr 05, 2024

A wide range of Westpac business credit card choices are accessible to entrepreneurs, and your business size, composition, and turnover ought to be considered before making a choice.

A few organizations pick a business rewards card to receive something back as a trade-off for business buys and verified payments.

The reward programs presented with Westpac corporate credit cards, for instance, are Westpac's own Altitude Rewards program and the well-known Qantas Business Rewards.

Everything to know about Westpac business credit cards

A Westpac corporate credit card is a card that is given to employees by their employer for business-related costs.

Organizations issue Westpac business credit cards to representatives so they can pay during excursions for work without utilizing their own money or credit cards.

The cardholding employer is liable for the instalment of charges. They are additionally answerable for announcing those charges as costs of doing business to the representatives for repayment.

$4 million annual income is the essential qualification rule for receiving a Westpac business credit card. Other measures that card backers consider are the following:

Expected yearly credit exchanges of approximately $250,000

No less than 15 card clients in the organization

Probably been doing business for a very long time or more

Should not be a sole proprietorship

Comparing the different Westpac business credit cards for businesses

1. Altitude Business Platinum Mastercard

Altitude Business Platinum Mastercard is available at the purchase rate of 20.24% p.a. Its balance transfer rate is 4.99% p.a. for a year. After 12 months, it increases to 20.74% p.a.

The annual fee for Altitude Business Platinum Mastercard is $200. However, it is $0 in the initial year. The interest-free days on purchases are 55. You get 318000 points to fly from Sydney to London return.

23,400 points are initiated to your account for flying one way from Sydney to Melbourne. Additionally, the users are entitled to 24,100 points and $100 in cash. You earn 1 point per dollar on Mastercard.

These points are uncapped, and they never expire. That means you can use them whenever you want. 

The minimum repayment of this Westpac business credit card is $10.00 with a minimum repayment percentage of 3.0. The customers can have one additional cardholder. The cash advance rate of this credit card is 20.74% p.a. 

Samsung Pay, Google Pay, Garmin Pay, and Fitbit are some of the payment options offered by this Westpac business credit card.

The customers are offered some reward privileges such as purchase protection, extended warranty, and travel insurance.

2. Altitude Business Gold Mastercard

This MasterCard is available at the purchase rate of 20.24% p.a. The balance transfer rate for both the gold and platinum MasterCard is just the same i.e., 4.99% p.a. for 12 months. It increases to 20.74% p.a after a year.

The annual fee for Altitude Business Gold Mastercard is $150. The annual fee is $0 for the starting year. Another similar feature shared between the gold and the platinum MasterCard is their interest-free days on purchases.

Both of these master cards are given 55 days of exemption from paying interest. You can earn up to 20000 points per month. The users can redeem their reward points for gift cards, shopping vouchers, and travel.

No reward program fee is charged by the cardholders.

3. BusinessChoice Rewards Platinum Mastercard

This Westpac business credit card is offered to the users at the purchase rate of 14.25% p.a. No current offers on the balance transfer rate are available on this MasterCard.

The annual fee for BusinessChoice Rewards Platinum Mastercard is $75. If you spend over $15000 p.a, the annual fees for this MasterCard account are $0. 

In comparison to the previous MasterCard, this BusinessChoice Rewards Platinum Mastercard has lesser interest-free days on purchases. Cardholders are given 45 days of exemption on interest payments.

The plus point of this Westpac corporate credit card is that you can have 10 additional cardholders.

4. BusinessChoice Everyday Mastercard

The purchase rate of this Westpac business credit card is similar to BusinessChoice Rewards Platinum Mastercard, i.e., 14.25% p.a

Another similarity between these MasterCard is their balance transfer rate, annual fees, and interest-free days on purchases. BusinessChoice Everyday Mastercard can have 10 additional cardholders.

This Westpac corporate credit card does not charge any introductory annual fee. An additional card fee of $75.00 is charged to this MasterCard.

How do business credit card rewards benefit your small business?

A business rewards Westpac business credit card acts similarly to an individual rewards credit card yet remunerates genuine business purchases and credit instalments as opposed to individual buys — in addition to this, you enjoy other benefits as well.

1. Make tax time more straightforward

Another key advantage of considering a devoted business rewards credit card is to assist with isolating your business funds from your own expenditure

This streamlines bookkeeping and detailing, particularly around credit time — and with Westpac corporate credit cards, you can download your monthly statements and bring them into bookkeeping programming.

Without the litter of individual exchanges, a Westpac business credit card utilized exclusively for business-related buys can offer you a more clear perspective on your income.

Another advantage includes the yearly card expense on every one of the individual's business cards that might be charged deductible. In any case, you ought to come up with your personal inquiries relating to your assessment consultant.

2. Receive free business protection

Business reward credit cards can give protection more well defined for business conditions. For instance, the protection furnished with most private Mastercards doesn't cover things purchased for business or business-related excursions.

Conversely, the free protection is furnished with the Altitude Business Platinum Mastercard, Altitude Business Gold Mastercard, and Westpac BusinessChoice Rewards Platinum Mastercard, and offers different covers for business explicit conditions. 

Westpac has a corporate credit card comparison device that permits you to look at the Mastercards you can apply for through Westpac online banking

In the event that low yearly charges are the priority of your business rather than remunerations at this moment, you could jump at the chance to select the Westpac BusinessChoice Everyday Mastercard.

It gives a similar 55-day free interest period as our reward cards, in addition to free protection and the choice to consider up to ten cardholders for your organization.

Related read - Card review - Commonwealth bank business credit cards

Frequently Asked Questions
What are the rewards if tax payments are made via credit card?

If the cardholder makes tax payments via credit card, they can earn the rewards of miles, points, or cash back.

How can you earn and redeem Altitude Rewards?

To redeem your Altitude Points, check the Altitude website or call the Altitude Rewards Center. You can get to the Altitude site through Westpac Online Banking, sign in to Westpac Online Banking, Go to 'Prizes and Offers', Search for 'Altitude Reward Points', select 'Reclaim Points' and follow the prompts. You can also go to the Westpac App, Sign in to the Westpac App, Search 'Prizes and Offers', Tap 'Altitude Reward Points' and follow the further steps.

How to find the best rewards Credit Card in Australia?

These Westpac corporate credit cards offer the absolute most noteworthy rewards available, alongside other travel and protection benefits.

Amex Qantas Business Rewards - Up to 180,000 reward Qantas Points and $450 Qantas Flight Voucher

Qantas Premier Platinum - 80,000 Qantas Points in addition to a limited annual charge

Qantas American Express Ultimate - Approximately 100,000 Qantas Points

What types of business credit cards are there?

Four significant sorts of Westpac business credit cards are Mastercard, Visa, Discover, and American Express. These are the significant networks of credit cards and they direct where cards can be utilized as well as what optional advantages cards offer.

Use corporate cards that do the expense management for you