Bankwest Credit Cards FAQ

June 11th, 2010

Here are some of the most frequently asked questions that Bankwest hears. If you any questions you need answered, you will probably find them here.

Bankwest credit cards frequently asked questions

Can I increase my credit limit?

Every month your credit card will be assessed by Bankwest to see if you qualify for an increase. If you are eligible, a customer service advisor from Bankwest will let you know and they will tell you what your new limit has been set at.

How is interest calculated?

The interest will be calculated based on annual percentage rates. The balance on your last statement will be calculated on a daily average and this will be reflected on your statement. If you have a balance that was not completely paid off you will see the following on your credit card statement:

• Debit Interest Cash – This is the interest that has been charged for any cash withdrawals you have made. Any cash advances will be charged interest from the date it was made and there is no interest free period given for them.
• Debit Interest Purchase – This is the interest charged for any purchases made on the card.
• Debit Interest Special – This is the interest charged on a promotional rate. Introductory rates may be given for purchases and balance transfers.

Does the annual fee go up?

The annual fee on Bankwest credit cards will rise a year after you have gotten your card. It is paid in advance and the rise will happen automatically. If you decide to close your account and the year has not yet expired you cannot get a refund or rebate on the fee so there is no point to canceling your card since you have already paid.

Can I sign up for balance transfers or any other advertising promotions if I am already a Bankwest customer?

The promotions advertised for balance transfers are directed towards new customers, but you can still apply. An assessment will be done in much the same way as they would be done for a brand new customer. You will not receive any balance transfer offers in the mail if you are already a Bankwest customer so you will have to make certain that you have opted in with Bankwest to get any new offers.

What happens if I use by Bankwest credit card for a cash withdrawal?

As soon as you make any kind of cash advance, interest will be applied. You will also have to pay a fee and that will depend on how much money you took out. You can get a payout figure to stop interest from being added to a cash withdrawal.

How are my payments allocated?

You will first have to pay for interest, then fees and then transactions. Payments are first applied to the statement you have received most recently and then payments will be applied to other items that were later added. Bankwest will apply payments first to the balance that has a lower rate of interest and then to higher interest rate balances.

Can a P.O. Box address be used?

You can only use a residential address when you fill out an application for Bankwest credit cards. A card can only be sent out by Bankwest to residential addresses and this is based on security reasons.

How long does it take for a balance transfer to be processed from an application form?

As soon as your credit card has become activated the balance transfer processing will start. If the balance transfer processing indicates any type of problem you will be immediately contacted.

Is it possible to make a change to my statement date?

These changes can be made, but by doing so you will also change the due date for any payments. As long as you are aware of the new due date so that you do not have to pay interest charges you can change the date you receive your statement.

How can I find out further information about the Bankwest More rewards program?

More information on this program is available at: .

How do I use the 55 days of free interest?

You will not have to pay any interest for 55 days as long as your last balance was paid off in full. By paying off your balance every month you will avoid having any interest charges added to your account.

How often should I make payments?

You can make payments as often as you like but you must make at least one per month, and it must be received by the due date. You must also make sure that the minimum payment requirement has been covered.

Are there any late fees?

You will be charged a late fee if your payment is received by Bankwest past the payment due date. You can avoid this by getting a direct debit set up for the minimum payment or for the full balance that appears on the statement.

How do I know when the balance transfer introductory offer expires?

At the bottom of your statement you will see a number that shows you the amount of months that remain before your balance transfer expires. When you see the number go down to one you will know that the next month is your expiry date.

Why did my balance go over the limit?

Bankwest will do this as a customer service to save you any embarrassment when you’re making a purchase. It is done if you are not going to be going over your account by too much and the decision is based on your risk factor and your ability to pay back the amount.

These are the most frequently asked questions about Bankwest credit cards and their answers. These Bankwest frequently asked questions will help you manage your card better and help you save money by avoiding unnecessary fees and charges.

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