Westpac BusinessPLUS Mastercard with Hotpoints

Westpac BusinessPLUS Mastercard Credit Card

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The Westpac BusinessPLUS Mastercard with Hotpoints credit card is a business rewards credit card that allows you to earn 1.25 hotpoints® for every $1 of business spend but also comes with other benefits such as Up to 35 days of overseas travel insurance and purchase protection of up to 90 days, and extended warranty on purchases. Keep in mind it charges an annual fee of $100 p.a.

Rewards Points Cash Equivalent

$100 spend earns you $0.694 cash-equivalent^.

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases reward points cannot be redeemed for cash directly. See below to find out how the estimate was calculated.

Points Cash Equivalence Calculation

If $1 spend earns you 1.25 Hotpoints then $100 spend earns you (1.25x100) 125 Hotpoints. And if 18,000 Hotpoints gets you a $100 Bunnings Gift card. This means 125 Hotpoints (the point you earn for spending $100) equal (100x125/18,000) = $0.694 cash-equivalent.

Key Features

Purchase Rate: 20.95%
Cash Advance Rate: 22.95%
Balance Transfer: 5.95%
Annual Fee: $100.00
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Earn 1.25 hotpoints® for every $1 of business spend but also comes with other benefits such as Up to 35 days of overseas travel insurance and purchase protection of up to 90 days, and extended warranty on purchases.
Credit Limit:
Other Fees: Joint/additional card $25

IMPORTANT NOTE: please review the credit card details on the provider's website again before applying.

Westpac BusinessPLUS Mastercard with Hotpoints Review

Pros and Cons

We've compiled below the pros and cons of the Westpac BusinessPLUS Mastercard with Hotpoints to help you decide.

Pros

Earn hotpoints for every dollar of business spend on your card.
Up to 35 days of overseas travel insurance
Purchase protection up to 90 days, and extended warranty on purchases
No fees on overseas cash withdrawal using an ATM in the Global Alliance Group

Cons

Annual Fees of $100
Only 35 days of overseas travel insurance

What we like about the Westpac BusinessPLUS Credit Card

Hotpoints Rewards

The Westpac BusinessPLUS Credit Card offers a decent Rewards Programme. You can earn hotpoints on every business purchase on your card, which can be redeemed for travel, shopping, or statement credits.

Travel Insurance Coverage

Westpac BusinessPLUS Mastercard with Hotpoints cardholders enjoy comprehensive travel insurance coverage which can provide peace of mind when travelling, knowing you are protected against unforeseen events.

Purchase protection

It offers purchase protection up to 90 days, and extended warranty on purchases which is nice to have if you remember to use it.

Drawbacks of the Westpac BusinessPLUS Credit Card

Annual Fees

One of the main drawbacks is its annual fee which is rather high but annual fees are common with business rewards credit cards.

Is the Westpac BusinessPLUS Mastercard with Hotpoints right for your business?

Deciding whether this credit card suits your business needs involves considering several factors. This card offers a range of benefits, but it may not be the right fit for every business. Here are some key points to help you determine if this card aligns with your business and spending habits.

Spending Considerations

Evaluate your spending habbits to see if the perks of the Credit Card match your needs. If you frequently make business purchases or/and travel frequently, the rewards and benefits can be quite appealing. However, if you do not spend much or travel often for business then this card might not be suitable.

Alternative Options

Consider other credit cards available in the market. Compare the Westpac BusinessPLUS Credit Card with other credit cards to see which one offers the best value for your specific needs. Look at factors such as the rewards program, annual fees, and additional perks to make an informed decision.

Frequently Asked Questions about the Westpac BusinessPLUS Hotpoints Credit Card

How does the hotpoints earning system work?

You earn Westpac hotpoints for every dollar you spend on eligible Westpac credit cards which you can redeem for travel, gift cards and shopping.

How much is a Westpac Hotpoints worth?

1 Hotpoint = 0.55 of a cent when redeemed for Gift Cards.

The value of Westpac Hotpoints varies based on how and where you redeem your points. We have provided one example below to give you an indication of the value but for a more precise figure, you should check the specific redemption options available through the Westpac site.

18,00 Hotpoints = $100 Bunnings Gift Card

This means 1 Hotpoint = 0.55 of a cent in Gift Cards.

How can I redeem my Westpac Hotpoints?

Westpac Hotpoints can be redeemed in several ways, including as gift cards, products, charity donations, KiwiSaver contributions or by using Hotpoints Pay which allows you to use your Hotpoints wherever MasterCard is accepted (essentially turning your Hotpoins into cash). You can find out how to redeem your Hotpoins on this site.

Are there any travel perks with this credit card?

Yes, this card offers travel perks such as Priority Pass lounge access to over 1,500 airport lounges worldwide and overseas travel insurance for up to 120 days per trip.

What are the annual fees and interest rates?

The annual fee for the Westpac Hotpoints World MasterCard is $100. The interest rate on purchases is 20.95% per annum, and for balance transfers, it's 5.95% for the life of the balance transferred.

Is there a foreign transaction fee?

Yes, there is a foreign transaction fee when you use your card for purchases in a foreign currency.

What is the minimum credit score needed for this card?

While Westpac doesn't specify an exact credit score, you generally need a good credit score to qualify for the Westpac Hotpoints World MasterCard.

Eligiblity Criteria

Your eligibility for this card would depend on a few criteria listed below. When you apply for a Westpac credit card, Westpac would ask you a few questions about these criteria to determine your eligibility.

Income
Expenses
Debts
Assets
Savings
Investments

**You have to be a New Zealand permanent resident, and have a good credit history to apply for a Westpac Credit Card.

Documents:

In general the following documents are usually required for credit card applications.

Proof of Income

One of the following:

your most recent payslip or salary notice
copies of bank statements that show your pay or salary deposits
a letter from your employer confirming your income
an Inland Revenue Department (IRD) “summary of earnings” notice.

If you’re self-employed, you must supply:

signed financial statements for the past two years
a signed personal Statement of Financial Position
your personal tax return.

Proof of Identity:

A copy of one or two items from List 1. If you provide only one item from List 1, you must also provide one item from List 2.

List 1:

Current passport
New Zealand drivers licence
18+ card
Photo Credit Card

List 2:

Most recent bank statement
Debit card
Credit card
Community services card
Club or society card.

Are you interested in a rewards credit card? Compare ALL Rewards credit cards on our rewards credit cards page.

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What is the best credit card in New Zealand?

We've been asked this question a lot so we have compiled our pick of the best credit card in NZ but keep in mind that the best credit card for you depends on your personal circumstance and needs. To find the best credit card for you, we recommend that you compare all credit cards in NZ on our website or narrow down your search by popular credit card types as shown below. Use the top menu of the page to select more credit card types.