Westpac Low Rate Credit Card

Showing 23 questions

1. 

   Ellie

   June 12th, 2013 at 8:13am

   Thank you! So I think I'm deciding between st George's vertigo card & ANZs low rate card. St George have a higher purchase rate but no annual fee in the first year & if I remain with them the $99 annual fee in the second year is still cheaper over 2 years compared with ANZ but the purchase rate that ANZ offer although by not much is still lower. Is there anything else I need to consider or do either of these options have any hidden issues?
• 

  Kalianna

  June 12th, 2013 at 11:51am

  You're welcome Ellie, glad we could help. Just your personal preferences. The St. George no annual fee offer is only for non-St. George customers, so if you already have an account with them you might not be eligible for the annual fee waiver. That's just something to double check before applying. Also don't forget if you do go with St. George to do another comparison before paying the annual fee next year, though you are right that $99 for the two years is very reasonable. It's good to check before though in case you would want to switch at that time. It's easy to set yourself a reminder, or just sign up to our monthly e-news (you'll see the button on the left hand side of our home screen or any of our table pages) and you'll be reminded of new offers and new articles we've written.
2. 

   Ellie

   June 11th, 2013 at 4:44pm

   Ok then so out of all the options you have suggested which I do you suggest has the best deal for an occasional use card overall?
• 

  Kalianna

  June 12th, 2013 at 7:54am

  Hi Ellie - there's definitely a great deal on purchases with the Westpac card, so if you do have anything coming up in the next few months you'll get time to pay purchases off interest free. If you were planning a large purcahse or, for example, a medical expense, that would be a good one to go for right now. If not, however, then you can avoid the annual fee altogether with St. George and decide next year whether you are happy to pay the usual fee. Those two would be the 'cheapest' options, as the others do have annual fees attached. Depending what you're after either of those seem to suit. You do understand that we can't say exactly what card is 'best' as we don't know all of your circumstances and spending habits etc, but if it were us, those cards are what we'd be looking at. Does that help?
3. 

   Ellie chrisohoidis

   June 11th, 2013 at 4:21pm

   Hi thanks for answering my previous question with card options that have low interest & interest free days for my needs. You explained that anz, suncorp & Citibank have good options but I also wanted to compare this to bendigo bank who despite having lower interest free days they have a lower overall interest rate & lower annual fees. What do you think?
• 

  Kalianna

  June 11th, 2013 at 4:38pm

  Hi Ellie - no worries, that's what we're here for! Basically, the biggest reason we can see for going with Bendigo bank as opposed to a card with longer interest free days is the RSPCA card option (we are animal lovers in this office :)but this card has an outrageously high purchase rate of 19.64%, so you wouldn't be using it for purchases you can't pay off immediately. While you get a similar deal to the other cards mentioned before on purchase rate with the Basic Black credit card, you're forfeiting an additional 11 days interest free each month to pay off your purchases without incurring any interest charges at all. In our opinion, it's probably a good idea to have that extra time up your sleeve to pay off purchases you do make. With Bendigo you also get no balance transfer option and no introductory period on purchases, which the other cards had. Other than the RSPCA reason, we can't see why you'd pick Bendigo above the other options in this card category, and don't forget you can always make your own donation to the RSPCA any time you want to - I do every year :) If you are concerned about the annual fee, you could always go with the St. George option and change cards before paying the annual fee next year if you're not happy to do so. Of course the decision is ultimately yours and you may have some other reason for preferring Bendigo Bank, but for what it's worth we like the cards that feature higher in our tables for the reasons mentioned. Good luck making your decision.
4. 

   Ellie

   June 11th, 2013 at 9:24am

   Hi I am looking for an emergency credit card so have been comparing the interest free days with low purchase rate & low annual fee. The westpac low rate card seems to offer all this but what is the details about the 6 months 0% interest? What is the interest rate after the first 6 months likely to be? And is there another card that offers low rates with low annual fee & high interest free days that I should be looking at?
• 

  Kalianna

  June 11th, 2013 at 3:32pm

  Hi Ellie - sounds like you're looking for a sensible no-frills credit card, and Westpac Low Rate is a great option for that if you do have a big purchase you're planning because of that interest free period at the beginning. For the first 6 months you pay no interest on purcahses, and after that the interest rate is a very reasonable 13.49%. If you're thinking of just making regular smaller purchases, you will find maybe 2-3 other cards with lower purchase rates, for example ANZ is currently 12.99%, but the annual fee is $3 higher (not a big deal in our opinion, as a higher interest rate is bound to cost you more than $3 over time!!), Citibank Clear Platinum is pretty unbeatable at 11.99% though the annual fee is only low in the first year, it goes up to $99 for the second year. A few other banks, such as St. George and Suncorp, have equally low purchase rates hovering around 12.5-13% but for a slightly higher annual fee (though you don't pay it for the first year with St. George). Be aware that Suncorp doesn't offer an interest free period though. The others all have similar interest free days (up to 55). Hopefully you can find somehting you like out of those options, and if you have any further questions let us know. Cheers, Kalianna
5. 

   Del

   May 6th, 2013 at 1:57pm

   Hi Ronald, I am a recent discharged bankrupt. I am working in a company for last 2.5 years earning 55000 per year with low savings. How much chances are there to get approval under this circumstances? Many thanks.
• 

  Tom

  May 6th, 2013 at 4:57pm

  Hi Del, your best bet is to call the bank you're interested in and speak with them about it. It all comes down to personal circumstance, I'm afraid we can't estimate your chances of approval.
6. 

   Elizabeth

   April 6th, 2013 at 12:35pm

   I have a clean credit file but was still refused credit card from another bank. I am in full time employment (current employer in excess of 8 years) with salary 74K and am 57yo. I met the "advertised" criteria but was told they did not have to tell me why my application was declined. What other criteria does Westpac apply?
• 

  Roland

  April 8th, 2013 at 9:20am

  Hi Elizabeth, unfortunately a bank's internal assessment criteria is only known to itself, and services such as ours can only provide general advice or guidelines which apply to many situations and people, but not all. If you had any credit card or bank account with the other bank you applied to, that can make a difference, especially if you were hoping to do a balance transfer - but you haven't mentioned that specifically in your query. Also if it had been a long time since you checked your credit file, perhaps it is worth ordering another one, as something could have appeared in the last few months which you were unaware of. Apart from that, you may need to consider the credit limit. If you wrote down a credit limit on your application, it could be that the bank was not willing to lend you that much on your card. You can leave this section blank and see what the bank is willing to lend you, or phone the bank first to get an idea of what it would approve (this will still not provide a guarantee though, unfortunately). Check the terms and conditions thoroughly before making any credit card application to make sure you meet all the bank's criteria, and best of luck!
7. 

   annette

   March 27th, 2013 at 7:59pm

   Can I transfer the full amount of my nab credit card
• 

  Roland

  March 28th, 2013 at 8:29am

  Hi Annette, you would have to request a credit limit that is high enough for there to be an extra 5% available credit. So, if your NAB card balance was $2000, say, you should request a new credit limit of $2100 to allow you to transfer 95% of your available credit limit. We have set out how this works very simply in our balance transfer rules blog post, so you should have a read.
8. 

   martine kerr

   March 27th, 2013 at 7:21am

   can i transfer the all amount of my credit card 18500 thank you
• 

  Roland

  March 27th, 2013 at 9:16am

  Hi Martine, your approved credit limit will depend on what Westpac agrees to when it assesses your application. If you need a certain amount you can specify what credit limit you want to be approved for, but always think about what you already owe, what you can afford in repayments and what would be reasonable for the bank to lend. There is only a minimum transfer amount specified, $200, and whatever credit limit you are assigned, you can transfer up to 95% of that amount. Hope that helps.
9. 

   Raphael

   March 15th, 2013 at 6:54pm

   Hi There, What's the balance transfer limit? 95% ? Thanks and regards, Raphael
• 

  Roland

  March 18th, 2013 at 9:12am

  Hi Raphael, the balance transfer limit on this credit card is 95% of the credit limit you are approved for, and you must transfer a minimum of $200. You can read more about this, and the answers to similar questions on our recent post explaining some key balance transfer issues.
10. 

    Natalie

    March 13th, 2013 at 1:34pm

    Hi , I have one of these cards with westpac and another one with the ANZ. I was thinking of bringing the balance of my ANZ card across to my existing, can the interest free period be applied to the entire amount? I really want to stay with Westpac but this card has the larger amount owing? Thanks
• 

  Roland

  March 13th, 2013 at 5:17pm

  Hi Natalie, you won't get the promotional rate with Westpac if you already have a card with them we're afraid. You won't get it from ANZ either if you already have a card with them. You would need to choose a card from a bank you're not already a customer of to enjoy a promotional rate. Your other option is to ask what rate Westpac will give you on a second balance transfer (it won't be as low as the promo rate). Hope that has cleared the situation up.
11. 

    Leeanne

    March 12th, 2013 at 12:37pm

    I currently have a HSBC card with a purchase that has 50 months interest free period and the remainder of the purchases are charged at a very high interest rate. Will Westpac allow me to transfer only a portion of the balance or does it have to be 100% of the amount? Thank you :)
• 

  Roland

  March 13th, 2013 at 8:52am

  Hi Leeanne, there is no rule stating that you have to transfer the whole balance of your card. You can write on the application exactly how much you want to transfer to the new card and that is what the bank will transfer. You don't have to close the HSBC credit card either if you are still paying off interest free purchases. Hope that helps.
12. 

    joseph

    February 27th, 2013 at 8:22pm

    how can i go back to the application i've started earlier and it was interrupted by the westpac internet issue? i received a message saying that westpac visa application became suddenly unavailable. thanks.
• 

  Roland

  February 28th, 2013 at 9:21am

  Hi Joseph, unfortunately the data you entered will not have been saved so you will need to restart the application process. We do not keep data and you would have already been using the bank's own application form.. The application is completed when you hit the submit button and receive an e-mail from the bank telling you the reference number. If you have any doubts you should contact Westpac directly.
13. 

    Ozwashroom

    February 26th, 2013 at 3:22pm

    What are the fees for transactions oversea's please?
• 

  Roland

  February 26th, 2013 at 4:40pm

  Hi, Westpac charges a fee of 2% of the AUD value of any international transaction, separate to on-charged scheme fees such as those added by either MasterCard or Visa. When using a MasterCard to buy from an overseas merchant (including online) a 0.8% fee is charged on top of the 2%. MasterCard also has a 0.2% currency conversion fee. The Visa Worldwide Service Assessment fee is 1%. See here for more info on international transaction fees.
14. 

    Katherine Dabrowski

    February 15th, 2013 at 9:08pm

    What is the minimun annual income?
• 

  Roland

  February 18th, 2013 at 9:13am

  Hi Katherine, the minimum income for this card is $15 000. Applicants have to be earning more than this per year to be successful. Hope that helps!
15. 

    Rob

    February 12th, 2013 at 1:26pm

    Hi, I was wondering if I could transfer the balance of a GE Money credit card and the negative balance of a Visa Debit card from a building society in to one of these accounts?
• 

  Roland

  February 13th, 2013 at 9:41am

  Hi Rob, transferring the balance from a non-Westpac credit card is accepted so long as you meet the other eligibility criteria, however unfortunately Westpac does not accept balance transfers from loan accounts or accounts in overdraft - so if what you are saying is that the visa debit card is a bit in overdraft, you would have to clear that separately and probably wouldn't be able to balance transfer that amount. Hope that helps.
16. 

    Stephanie

    February 12th, 2013 at 10:55am

    The balance I wish to transfer from is in my husbands name( I am an additional cardholder.) Can I get the card in my name and transfer that balance.
• 

  Roland

  February 12th, 2013 at 12:13pm

  Hi Lucas, your repayments will depend on the rate you want to apply for, and you divide the amount by the number of months you have available on the promotional rate. So to pay off the amounts you listed within the promotional period, in this case 0% for nine months, this is what you'd have to pay each month: $5k - $555.55 $10k - $1111.11 $15k - $1666.66 $20k - $2222.22 $25k - $2777.77 $30k - $3333.33 For now, if you want to see what your repayments would be at the purchase rate, we trust the credit card calculator on the Money Smart website, but it gives you only 12 months worth of repayments. We are in the process of preparing a more sophisticated calculator to add in the purchase interest rate, and this will be published soon. Hope that helps!
17. 

    Russ

    February 10th, 2013 at 8:13pm

    Can I transfer from a non credit card debt to this credit card i.e. balance transfer from a credit loan account which is not a credit card
• 

  Roland

  February 11th, 2013 at 8:52am

  Hi Russell, Westpac does not accept balance transfers from loans or overdrafts, so unfortunately you would need to look at other cards. Some issuers do accept balance transfers from loan accounts, some don't. Citibank is one which does. You can have another look at our balance transfer table to see what other options you have.
18. 

    Greg

    February 5th, 2013 at 4:32pm

    Can I transfer a balance from a St George card and also transfer from a second credit card with NAB ?
• 

  Roland

  February 6th, 2013 at 9:59am

  Hi Greg, yes you are able to transfer a St George credit card and a NAB card to a Westpac credit card. There is no limit on the number of cards you can transfer - and luckily Westpac allow transfers from St Georgeevenm though it is a subsidiary (this is something you always have to check carefully). Do remember that Westpac will have to approve the total credit limit that you are asking for for the application to be successful though. Westpac allows up to 95% of the approved credit limit on a balance transfer, which means if you had, say, a $10 000 credit limit approved, you could transfer up to $9500 of that amount. Hope that helps!
19. 

    Emma

    January 31st, 2013 at 12:24pm

    Can a balance transfer amount go to a card not in the applicants name?
• 

  Roland

  January 31st, 2013 at 3:37pm

  Hi Emma, no it cannot.
20. 

    Vanessa

    January 29th, 2013 at 10:57pm

    Can i transfer balances from a ignite (westpac) card and a bank on melbourne card on to this one card???
• 

  Roland

  February 4th, 2013 at 11:06am

  Hi Vanessa, no you cannot transfer balances form one Westpac card to another Westpac card and receive the promo interest rate. It would need to be a card with another bank/issuer.
21. 

    Lesley waters

    January 29th, 2013 at 2:35pm

    Im wondering what the international transaction fee is? Is this a good card to use over seas?
• 

  Roland

  January 31st, 2013 at 9:53am

  Hi Lesley, the international transaction fee for Westpac credit cards is 3% of the transaction value. See here for more information on travel friendly cards.
22. 

    Lina

    January 26th, 2013 at 1:30am

    Can I do a balance transfer from a personal loan with Cba to this westpac card?
• 

  Roland

  February 12th, 2013 at 12:25pm

  Hi Lina, unfortunately Westpac does not allow balance transfers from loan accounts or accounts in overdraft. You could investigate other cards and other banks to find more options.
23. 

    Nico P.

    January 16th, 2013 at 10:23am

    Is it possible to attach a frequent flyers rewards program to this card or any type of rewards program for that matter?
• 

  Roland

  January 16th, 2013 at 2:58pm

  Hi Nico, no - but here are other Westpac cards that offer rewards and frequent flyer points.