Westpac Holden MasterCard

The Westpac Holden MasterCard is another 'novelty product' on the market, this time from one of Australia's 'Big 4' banks. As the name suggests, the card is aimed at Holden drivers, providing them with the opportunity to save up to $3,000 on the purchase of a new car.

So just what do Westpac customers get? Well, according to their website, the key features are...

  • 10% of every dollar you spend goes towards your core rebate of up to $3,000 on a new Holden
  • An extra 1% bonus rebate for every dollar you spend on insurance products from Westpac General Insurance
  • Exclusive offers and up-front discounts when making credit purchases with your Holden MasterCard at program partners including Accor and Best Western hotels, FlowerPoint, Avis, Integrated Travel Services and Premium Wines
  • An extra 2% Core Bonus Rebate for every dollar you spend at Holden Dealers
  • Free Admission to selected motor shows

The ability to earn a 10% rebate on every dollar you spend is quite unique as most rewards programs offer benefit rates of no more than 1-2% of total spend. This provides an excellent opportunity for you to save money if you use this credit card to its potential. If you are looking to buy a new Holden, simply get the card and spend $30,000, then receive $3,000 off the best price you can negotiate with your Holden dealer!

The $3,000 limit applies to the Following models - Adventra, Berlina, Calais, Caprice, Commodore, Crewman, HSV, Statesman and Ute! Captiva discounts are capped at $1,000, with Astra, Combo, Epica, Rodeo and Viva at $750. The Barina discount is capped at $500, so if you want one of those just get the card and spend $5,000 for the maximum saving!

Other features of the Holden MasterCard include a 3.99% on balance transfers for six months, plus 45 interest free days on purchases. So it's useful for your typical credit card transactions like buying things, paying direct debits, getting a cash-advance, and paying bills over the phone using BPAY. The annual fee is $55, but this is waived for the first year. At 19.35%, the standard variable rate is quite high, so maybe one to avoid if you don't usually pay your monthly balance in full.

So if you're looking to buy a new Holden anytime soon, the Westpac Holden MasterCard will get you there faster!

Published on November 11-th, 2007 in Credit Cards
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.