Westpac business credit card. The limits, fees and need-to-knows

Roberto Efflandrin

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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What business credit cards does Westpac offer?

Westpac offers a range of credit cards for personal and business customers. Some cards they have for business are²:

  • BusinessChoice Everyday Mastercard
  • BusinessChoice Rewards Platinum Mastercard
  • Altitude Business Gold Mastercard

And the one we will focus on today

  • Altitude Business Platinum Mastercard

Do you need a Westpac Altitude Business Platinum Mastercard credit card? Who is it for?

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

What are the main features and benefits of this credit card?

The Westpac Altitude Business Platinum Mastercard offers more benefits than the other 3 cards, including⁴:

  • No card fee for the first year (new cardholders only)
  • 1 additional card for a secondary cardholder (aged 16 and over)
  • 4.99% balance transfer for the first year
  • Uncapped points
  • Wide range of points burning options
  • Personal concierge service - exclusive access to events and restaurant tables
  • Complimentary travel, purchase, and business-related insurance

The cons of using this credit card

This business credit card may not be suitable to everyone⁴:

  • The card is only available to one additional cardholder
  • Minimum credit limit of $20,000 AUD may be too high for some

The credit limit provided by this credit card

The Westpac Altitude Business Platinum card has a minimum card value of $20,000 AUD and a maximum of $150,000 AUD.⁴

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Can credit limits be increased?

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

What are the fees for the Westpac Altitude Business Platinum Mastercard credit card?

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
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:
  • In a foreign currency
  • In Australian dollars and the merchant is based overseas.
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:
  • Purchase rate: 20.24% (variable)
  • Cash advances: 20.74% (variable)
Overlimit fee As of November 2021 this fee is zero

fees current as at February 10, 2023

How to get a Westpac business Altitude Business Platinum Mastercard credit card

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

Existing Westpac customers

  • Log in via your internet banking portal
  • Complete the form - around 8 minutes
  • Instant approval if you meet all the requirements

You’ll need to provide:

  • Personal details
  • Information about your current income and expenses.

New customers to Westpac

  • Apply online via the Westpac bank page
  • Complete the form - around 15 minutes
  • Balance transfer from another bank credit card (if applicable)
  • Instant approval if all the requirements are met and confirmed

Additional information new customers must provide:

  • ABN or ACN
  • Employment, income, and financial commitment details
  • Driver’s licence number
  • Accountant’s details

What are the eligibility requirements for getting this credit card?

To qualify for the Westpac Altitude Business Platinum Mastercard you need to:

  • Confirm the card will be used for business or investment purposes
  • Be 18 years or over
  • Earn a minimum of $30,000 AUD per annum
  • An Australian permanent resident or citizen

You may need to provide proof of income, and a credit check might be performed by Westpac.

How long does it take to get the business credit card?

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.

What if your application is rejected/declined?

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.

What else do I need to know?

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

Westpac Business contact details

Business customers can call Westpac, Monday to Friday, between 8 am and 8 pm (AEST) on:

  • General enquiries: 132 142
  • Online and mobile banking: 1300 655 505
  • From overseas: +61 2 9155 7700

For 24/7 contact:

  • Lost and stolen cards call 1300 651 089
  • Chat via the Red Virtual Assistant from inside the mobile banking app
  • Westpac’s FAQ section

Wise Business Account and debit card

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.

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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.


  1. Westpac company overview
  2. Westpac business credit cards
  3. Westpac compare business credit cards
  4. Westpac Altitude Business Platinum Mastercard
  5. Westpac business credit cards - limit increase
  6. Westpac Altitude Business Platinum fees and rates
  7. Westpac how to apply for altitude business platinum credit cards

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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