Westpac BusinessPlus Mastercard

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.co.nz. Ask Roland a Question about this card.

The Westpac BusinessPlus Mastercard

Offering an easy way to earn rewards on business spending, the Westpac BusinessPlus Mastercard is linked to Westpac’s flexible hotpoints programme, providing access to a range of reward options including merchandise, gift cards and travel via Flight Centre. In terms of features, the card offers overseas travel insurance, purchase protection, extended warranty, and up to 55 days interest free on purchases.

What we love...

As a small business owner, life is so much easier when you keep your business spending and personal spending separate. Which is exactly what the Westpac BusinessPlus Mastercard is designed to do. With this card, you can manage your cash flow more effectively, while separating your expenditure. You can even arrange for your accountant to receive your transaction data electronically via BankLink, making tax time much simpler.

On top of that though, the Westpac BusinessPlus Mastercard allows you to earn rewards on your business spending. Linked to Westpac’s hotpoints programme, the card earns 1.25 hotpoints for every $1 spent, which can then be redeemed in any number of ways.

Whether you’re travelling on business or for pleasure, you can redeem your hotpoints on flights and accommodation, car rental and more using the Pay Using Points feature at Flight Centre. You could also redeem your points for travel gift cards, or alternatively, opt for Holiday Credits, which allows you to pay for travel on your card, to then redeem your hotpoints to help pay it back.

Alternatively, you could use your hotpoints to treat yourself, your loved ones, or your team at work. Check out the hotpoints store for an extensive range of merchandise, including electronics, sports gear, beauty items and homewares. Other redemption options include donating to charity, and contributing to your KiwiSaver account.

Aside from rewards, the card also offers insurance cover. The card’s travel insurance can cover trips up to 35 days paid for with your card, with cover extended to family members travelling with you. Extended warranty can extend the manufacturer’s warranty on eligible items bought using your card, while purchase protection provides up to 90 days of cover on items lost, stolen or accidentally damaged.

And the cost of keeping this card? The Westpac BusinessPlus Mastercard has a pretty standard annual account fee for a rewards card. It’s just a case of working out whether you will earn more in rewards each year than you pay out in account fees. To help you earn more points, you can add up to five additional cardholders for your team for a small fee, boosting your points earning.

One thing we do like about this card is the fact that if you have a personal Westpac Platinum Mastercard, you will pay no account fees on your Westpac BusinessPlus Mastercard. You can then link your other Westpac accounts to your BusinessPLUS Mastercard, which allows you to access them at the checkout and ATMs.

What’s not so great...

One thing to pay attention to on the Westpac BusinessPlus Mastercard is interest. Both the purchase rate and cash advance rate is relatively high (although on par with most rewards cards). If you carry a balance, you may find it difficult to get real value on the rewards you earn. A low rate option may be a better option for you and your business.

Why should you choose this card?

A credit card in its most basic form is designed to offer access to credit. This allows you to manage your cash flow more effectively, buying the things you need now, to pay them all off later. When it comes to running a business, this can be invaluable. With the Westpac BusinessPlus Mastercard, you can take advantage of up to 55 days interest free on purchases, allowing you to pay no interest while still accessing credit.

To utilise this feature, you must clear your balance each month by the due date – and you cannot have any balance transfers on your account waiting to be paid off.

Aside from the features mentioned above, the card also offers access to various Mastercard Privileges, including local and global dining, travel, retail and entertainment experiences, for business or pleasure. On top of that, the card provides all the standard payment basics and security features you would expect on a card from a big bank.

Overall Rating

The Westpac BusinessPlus Mastercard allows cardholders to separate business and personal spending, while earning hotpoints on their business spend. Some added extras include complimentary travel and retail insurance, and up to 55 days interest free on purchases.