Point Hacks Credit Card Guide

Guide to the Westpac BusinessPLUS Mastercard

The Westpac BusinessPLUS Mastercard is a hotpoints-earning credit card that is targeted towards SME business owners, in particular sole traders who may like to separate their personal and business expenses. The card comes with complimentary travel insurance.

Consumer cards in the hotpoints range are the standard hotpoints Mastercard, hotpoints Platinum Mastercard and the premium hotpoints World Mastercard.

Digging into the details of the Westpac BusinessPLUS Mastercard

Card Details

CardWestpac BusinessPLUS Mastercard
Loyalty programmehotpoints
Points earned from spend1.25 hotpoints for every $1 spent on eligible purchases
Points capNone
Travel benefitsNone
Included insurances
(see PDF)
- Travel insurance for up to 35 days per round trip
- Purchase protection insurance - purchases paid in full on the card could be covered for up to 90 days if lost, stolen or accidentally damaged
- Extended warranty insurance - when you purchase goods for your business using your card, the original manufacturer's warranty on those goods is extended by up to 12 months
Interest free daysUp to 55 days
Foreign currency fee2.5% of the converted amount
Annual fee$50 half-yearly, except cardholders who also have a personal Westpac hotpoints Platinum Mastercard, who will not be charged the annual fee for as long as they keep their personal account open
Overseas ATM access fee$2 per transaction, unless you use an ATM belonging to a member of the Global ATM Alliance, in which case no fee is incurred
Joint/additional card fee$25 p.a.

Earning hotpoints from spend with the Westpac BusinessPLUS Mastercard

With the Westpac hotpoints Platinum Mastercard, there is no points cap on what you can earn.

You will earn 1.25 hotpoints for every $1 spent on the card in NZ dollars.

This is an effective 0.62% cashback on business spend, based on 200 hotpoints being worth $1 when redeemed towards travel gift cards with Flight Centre, helloworld, House of Travel and YOU Travel.

Note that you can achieve slightly better cash value on other redemptions, such as credit to Westpac KiwiSaver schemes, donations, and store gift cards. With these, 180 hotpoints will be worth $1.

What are hotpoints?

Hotpoints is the name and currency of Westpac’s points programme. Once you earn 200 hotpoints, you will have $1 of credit that can be redeemed directly with Flight Centre, or on gift cards with the travel agencies listed above.

This is similar to the Air New Zealand Airpoints programme, but with the added benefit of being able to redeem towards seats on any airline.

Your hotpoints can also be redeemed towards:

  • Gift cards and e-vouchers with a wide range of New Zealand and Australian businesses
  • Direct ‘SpendBack’ credit on your account towards qualifying purchases made in the last 3 months, where 2,200 points will equal $10 back onto your account. Qualifying purchases include travel, groceries, fuel, dining, and annual fee card charges. Note that while these credits allow you to use your hotpoints towards travel purchases made anywhere, the number of points required per $1 is higher than if you redeemed for travel gift cards, so be sure to compare prices
  • Products and experiences via the hotpoint online store
  • Credit towards your Westpac KiwiSaver
  • Donations to one of many charities

Eligible transactions

You will earn hotpoints on all spend, except cash withdrawals, and payments for cash equivalents (e.g. travellers’ cheques, money orders and gambling chips).

There is no obvious exclusion for government-related spend, so you should be able to pay taxes and other government fees and continue to earn hotpoints.

Insurances and other benefits

In the insurance bucket, you can receive:

  • Up to 35 days of travel insurance cover for you and your family, per round-trip, including for:
    • Cancellation of travel
    • Overseas medical and associated expenses
    • Unexpected travel and accommodation expenses
    • Death of a relative and resumption of journey
    • Luggage, personal effects and travel documents
    • Travel delay
    • Missed connections
    • Funeral expenses
    • Accidental death
    • Loss of income
    • Accidental death and disablement (common carrier)
    • Hijack and detention
    • Kidnap and ransom
    • Rental vehicle collision damage and theft excess cover
    • Personal liability
    • Snow sports (with a payment extension)
  • Purchase protection insurance
  • Extended warranty insurance

For more information on the insurances above, be sure to read the PDS here. This is an important document to consider if you intend on relying on this cover to make sure they work for you.

This guide references some of the benefits of insurance policies provided with this credit card.

You should read the PDS and obtain independent professional advice before obtaining this product.

Mastercard Privileges

Westpac BusinessPLUS Mastercard Card Members will have access to an assortment of other offers + perks with Mastercard, including travel and dining experiences across the globe with Priceless.

Westpac Pay

Westpac offers Tap & Pay functionality through either its own app, or through a Westpac PayTag which can be purchased for $4.99. The PayTag can be attached to your keys or the back of your phone case, meaning you don’t need to carry your wallet around when making small transactions.

Summing up – Westpac BusinessPLUS Mastercard

The Westpac BusinessPLUS Mastercard is a no-frills business credit card that offers the ability to earn hotpoints from business spend, with no earnings cap.

All things being equal, the hotpoints programme is competitive with Air New Zealand Airpoints, as the points are flexible and can be redeemed for seats on any airline via either credit for direct purchases, or using gift cards with a range of travel agents.

You can also effectively use hotpoints as a form of ‘cashback’ for spend on purchases include travel, groceries, fuel, and dining.

However, if you earn Airpoints Dollars from travel and other sources, hotpoints may be less valuable than if you focused on earning points with only one programme.

Finally, while the 35-day limit to the travel insurance is quite low and does not compare well to other products on the market, the inclusion of purchase protection and extended warranty insurance could help to boost the value proposition a little. As usual, be sure to read the fine print to make sure the coverage is right for you and your business.

Guide to the Westpac BusinessPLUS Mastercard was last modified: March 15th, 2019 by Daniel Kinnoch

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