- Get up to $200 cashback – $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 4 months from card approval.
- Low rate of 13.74% p.a. on purchases
- Free additional cardholder
- Tap & goTM quickly and easily using your Mastercard®
Hi, I’m a personal finance expert who loves to help you out! I’ll answer your question within a business day. Pinky swear.
Westpac Credit Cards
Westpac Low Rate Credit Card – Cashback Offer
Updated 1 August 2022
Get up to $200 cashback when you apply and are approved for a new card by 31 October 2022 – $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 4 months from card approval. Plus, enjoy a low ongoing purchase rate of 13.74% p.a. and a free additional cardholder.
Purchase Rate (p.a)
13.74%
Balance Transfer (p.a)
6.99% for 12 months
0% balance transfer fee applies.
Reverts to 21.49% p.a.
Annual Fee (p.a)
$59
Pros and cons
- You can't transfer loan balances - up to 3 credit card or store card balances only
- Balance transfer offer is available to new customers only
Creditcard.com.au review
Editor Review
Westpac Low Rate Credit Card – Cashback Offer
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The Westpac Low Rate Credit Card - Cashback offer
People look for ways in saving money and at the same time enjoying features and benefits when comparing credit cards. But if you’re more interested in money saving features, you’re most likely to choose low frills cards.
Westpac introduced its new product that has similar bits with its popular low rate credit card but added some enticing features. Westpac Low Rate Cashback offers a lovely low rate on purchases and a bountiful cashback of $200 on eligible purchases.
Sounds exciting? Let’s dig a little deeper.What we love...
When you are looking for a credit card that can help you save money, you will likely check out how much each one charges in interest before anything else.
Now, first up, let’s look at the balance transfer offer. You can move your balances from your existing credit card to another bank or issuer and take advantage with 6.99% p.a. interest for 12 months with no balance transfer fee. Though it’s obviously not as low as 0% balance transfer offers, it may still help you manage your cash flow and allows you to pay it down faster. After the offer period ends, the rate reverts back to the standard purchase rate. But no worries, this card remains friendly to your wallet.
Westpac offers one of the lowest purchase rates in the market at 13.74% p.a. As this rate is pretty nice and low, it could help you keep interest costs down, so you can pay off and clear your balance easier. Once you paid off your balance each month, continue saving on interest with up to 55 days interest-free on purchases.
Now, let’s talk about the highlights of this card and what makes it different from other low rate cards. Get up to $200 cashback – $50 cashback for each month when you apply for a new card and spend $4000 on eligible purchases within 120 days of card approval. This is more than enough to help you cover the cost of your annual fee, allowing you to enjoy the other features of this card. Offer ends 31 October 2022.
What’s not so great...
This is a no-frills card so if you’re looking for more perks, you may find some drawbacks. This has no fancy features like rewards and other extras.
In terms of balance transfer, it does not offer the lowest 0% rate per annum but that’s not a big deal since it still helps you keep your costs down. And another thing to be aware of is that you can’t transfer loan balances — you can only transfer the balance from up to three non-Westpac credit cards or store cards.
Why should you choose this card?
If you’re looking for a card that can put money back in your pocket from your everyday spending, then Westpac Low Rate Cashback is a great choice. $200 is quite big in comparison to other banks' offers. Plus, this card keeps things pretty simple and convenient which is very beneficial to beginners and those who are looking for thrift.
You can also add one cardholder at no extra cost. This is also compatible with Apple Pay, Samsung Pay and Google Pay. Keep protected with its fraud money back guarantee feature.
Overall Rating
The Westpac Low Rate Cashback Credit Card helps cardholders save with its low ongoing interest rates and fees, and 6.99% on balance transfer for 12 months. This also gives you money back on your everyday purchases.
User reviews
Rates and fees
Interest rates
Purchase rate 13.74% p.a.
Cash advance rate 21.49% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 6.99% p.a. for 12 months
Balance transfer revert rate 21.49% p.a.
Balance transfer from personal loan No
Balance transfer fee 0% one off
Balance transfer limit 80% of approved credit limit
Brands you can't balance transfer from Westpac
Credit limits
Minimum credit limit $500
Maximum credit limit $50,000
Fees & repayments
Annual fee $59 p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3%
Minimum repayment 2% or $10 whichever is greater (personal); 3% or $10 whichever is greater (business)
Cash advance fee 3%
Late payment fee $15
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Overview
Westpac Low Rate Credit Card – Cashback Offer
As a cardholder, you can also benefit from up to 55 days interest-free on purchases and the convenience of contact-less technology – Tap & goTM. With no minimum income requirement, this card is definitely appealing.
Disclaimer: The interest-free period is the maximum number of days during which interest is not charged on new purchases. If your account has an interest-free period for purchases, to be entitled to that interest-free period, you need to pay off the “monthly payment balance” listed on your statement (not the full closing balance) by the relevant payment due date.
Mastercard is a registered trademark, and the circles design and tap & go are trademarks of Mastercard International Incorporated.
Key features
- Get up to $200 cashback – $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 4 months from card approval
- Low rate of 13.74% p.a. on purchases
- Up to 55 days interest-free on purchases
- Free additional cardholder
- Tap & goTM quickly and easily using your Mastercard®
- Access to SmartPlan which helps you structure your credit card repayments by breaking them down into regular monthly instalments
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
A permanent resident in Australia/NZ OR; a non-resident or migrant and hold an acceptable Visa, with a min 1 year before expiry
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
Recently Asked Questions
Something you need to know about this card? Ask a our credit card expert a question.
Ask a question
Sarah
27 June 2022Pauline
28 June 2022Souths
14 June 2022Pauline
16 June 2022