Guide on starting an online business in 2025
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Business credit cards are a convenient way for companies to make instant purchases online or in-store, provide instant record-keeping, and some have rewards programs. With many cards on offer from various financial institutions, it’s not immediately clear which one may best suit your business needs. .
Westpac bank offers business credit cards and it is Australia’s oldest listed company and its first Bank. Initially, the Bank of New South Wales, from its inception in 1817, it became Westpac in 1982. It’s one of the 4 primary banking services in Australia.¹
In this article we’re going to talk about the Westpac Altitude Business Platinum Mastercard. Let’s jump right in.
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Westpac offers a range of credit cards for personal and business customers. Some cards they have for business are²:
And the one we will focus on today
The Westpac Altitude Business Platinum Mastercard is for businesses that like to earn an uncapped amount of points to transfer to frequent flyer programs or require higher credit limits.²
The alternative, at $50 AUD a year cheaper, is the Altitude Business Gold Mastercard, where the points earnings are capped at 20,000 points per month, and the credit limits are lower.³
The Westpac Altitude Business Platinum Mastercard offers more benefits than the other 3 cards, including⁴:
This business credit card may not be suitable to everyone⁴:
The Westpac Altitude Business Platinum card has a minimum card value of $20,000 AUD and a maximum of $150,000 AUD.⁴
When the card account is approved, Westpac will set a credit limit. Increasing this limit by applying online or via the contact centre may be possible. Additional documents may be required for the approval process to begin.⁵
Some fees apply when using the Westpac Altitude Business Platinum Mastercard, both domestically, and abroad. As detailed in this table:
Fees & rates | Westpac Altitude Business Platinum Mastercard⁶ |
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Annual card fee | $200 AUD Waived for the first year, new cardholders only. |
Cash withdrawal or advance rate | 3% of the total amount, domestically or internationally |
Foreign exchange conversion fee | 3% of the Australian dollar value of any international transaction, whether it is:
|
Late repayment fee | As of November 2021, this fee is zero |
Purchase interest rate | 4.99% for balance transfers for the first 12 months then:
|
Overlimit fee | As of November 2021 this fee is zero |
fees current as at February 10, 2023
Applications for the card can be made online, and it’s available for new or existing customers. The process is slightly different for each.⁷
Approval isn’t guaranteed and is subject to Westpac Bank’s lending criteria.
Read more: Westpac Business account. The lowdown |
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You’ll need to provide:
Additional information new customers must provide:
To qualify for the Westpac Altitude Business Platinum Mastercard you need to:
You may need to provide proof of income, and a credit check might be performed by Westpac.
Nowhere on its website or in its terms and conditions does Westpac state how long you need to wait until the card is posted to your personal address.
Information from other online sources suggests this period is around 7 business days.
If your application for the business credit card is declined, ask Westpac for a reason behind this. They may or may not provide this answer as they aren’t under any obligation to do so.
The application may have contained some minor errors that, when fixed, mean you could try to apply again.
Declined credit cards are sometimes a result of poor credit. You may want to check your credit history with one of 3 credit reporting agencies recommended by the Australian Government.
The Westpac Altitude Business Platinum credit card may or may not be what you are looking for. Check the benefits of the other 3 business offerings to see if they’re a better fit.³
Business customers can call Westpac, Monday to Friday, between 8 am and 8 pm (AEST) on:
For 24/7 contact:
Wise offers a hassle-free, all-in-one business account. There are no monthly fees, hidden charges or high rates. Get paid, manage your cash flow, and even pay employees. Integrate with a number of APIs for seamless reporting.
You’ll also get access to local Australian account details, and account details for over 9 other major currencies.
The Wise business debit card can be used at ATMs, in-store, or online shopping via the Mastercard network. Additional cards can be made available for other team members as you choose, with one fixed card-creation fee per card and no monthly fees.
Find out how the Wise business account can save you money.
Register for a Wise business account
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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information. |
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Sources:
Sources checked on: 11 February 2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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