New platinum credit card on offer from Bankwest

The country's first ever fee-free platinum credit card has been launched.

Details of a new platinum credit card have been unveiled by Bankwest.

The Zero Platinum MasterCard comes with a special introductory interest rate of 4.99 per cent on balance transfers and purchases fixed for a nine-month period.

Such a feature "will make a real difference for customers currently paying a high rate of interest on other credit or store cards," Andrew Banks, head of Credit Cards for Bankwest, states.

Those keen on making credit card purchases may also be interested to hear that the Zero Platinum MasterCard offers a one-year extended warranty on goods purchased.

In addition, it does not charge an annual fee, the only platinum product in the country to do this, with other features of the card including complimentary international travel insurance for customers and their relatives and a 24/7 concierge service.

News of the product comes as FlyBuys recently revealed that people are increasingly making use of credit and store card loyalty schemes to pay for goods and services.

Written by Kate Guthrie