I've been avoiding this review for some time, ever since I wrote a 500 word diatribe against the Westpac Earth's surreptitious branding.
I'll resist the temptation to restate my argument, but essentially, I took umbrage against Westpac's use of environmental imagery to imply the card is somehow 'green' when it isn't. It seems like a shameless attempt to cash in on positive consumer sentiment toward eco products.
It's particularly frustrating because it undermines the value of cards such as the GE Money Eco MasterCard, which does donate money (0.5% of purchases) to environmental initiatives.
All that aside, the Westpac Earth Gold offers a significant increment in features for a minor increment in annual fee. For $50 extra ($125 instead of $75 on the standard Westpac Earth), the Gold comes with international travel insurance, purchase security and extended warranty protection.
The international travel insurance is reasonably modest, but a nice inclusion nonetheless. It will cover the cardholder and their immediate family on overseas trips of up to three months, as long as the tickets are purchased on the card. The excess is $200 on most claims, except for loss of travel documents, credit cards and emergency replacement of clothes and toiletries, for which there is no excess.
Apart from that, the card is identical to the Westpac Earth. The purchase rate is 17.74%, which is average for a mid-range card. The cash rate is 19.24%, which is slightly lower than most, but shouldn't really be a consideration.
Like the standard Earth, the Gold comes with two cards: an American Express and a MasterCard. The reward points (which go toward your Qantas Frequent Flyer account, for which membership is included with the card) accumulate at the same rate: one point per dollar spent on the Amex and one point per two dollars spent on the MasterCard.
As with all Frequent Flyer cards, spending on selected Qantas products and services (including eligible flights) attract a bonus one point per dollar spent. These products also attract interest at a flat rate of 5.99% provided you notify Westpac prior to the transaction. That may be useful if you're planning to purchase tickets on your card and pay them off over time.
The interest free period is still 45 days, which is a little short, particularly as you'll need to pay your balance in full each month to qualify.
Currently, Westpac are also offering 0.99% on balances transferred for six months.
Bottom line: if you're thinking of getting the standard Westpac Earth, the Gold offers much better value for only a $50 increase in the annual fee, but you'll need to be travelling to get any real benefit from it.
