Bankwest - More Classic Mastercard

The customers of this target market are likely to have the following objectives, needs, financial situation and eligibility criteria for this product.

Objectives and Needs

• Require a revolving credit facility with a convenient way to make payments and access cash by using the card attached to the facility
• Ability to earn rewards points when spending on their card
• Access to interest free days
• Access to promotional offers

Financial Situation

The Financial Situation of the Target Market are customers that:

• meet Bankwest’s credit assessment criteria which includes demonstrating the capacity to make the required repayments without substantial hardship
• choose a credit limit typically above $1,000
• will pay a higher interest rate when required under the card contract (compared to some other Bankwest credit cards)
• will pay a higher annual fee (than some other Bankwest credit cards) if criteria are not met for a fee waiver.

Bankwest views that its processes in place, including assessing the customer’s ability to service the facility, will mean that the product will likely be consistent with the financial situation of the target market.

Eligibility Criteria

To hold this product customers will need to satisfy certain eligibility criteria and credit assessment requirements, including that each customer must:

• be an individual 18 years or older
• be living in Australia as an Australian citizen or Australian permanent resident (exceptions may apply)
• meet Bankwest’s credit assessment criteria which includes demonstrating the capacity to service the credit facility.