- $0 annual card fee in the first year, and in subsequent years when you apply and are approved for a new card and meet the $5,000 annual spend requirement
- Low standard annual fee of $30 p.a.
- Tap and pay with Apple Pay, Samsung Pay and Google Pay
Marketing itself on the fact that it offers up to 55 days interest free on purchases, the Westpac Low Fee Credit Card is a basic credit card with one very enticing introductory offer. New cardholders benefit from $0 annual fee for the first year.
If you are unsure of your ability to keep to a repayment schedule, Westpac’s SmartPlan tool may be able to help. With SmartPlan, you can apply a manageable repayment plan to your outstanding purchase or cash advance which could make it easier for you to pay off your credit card balance within a set period of time.
SmartPlan could be a great option for paying down a purchase balance, but it may also be useful if you purchase a big ticket item on your Westpac Low Fee Credit Card. You can start and stop the SmartPlan whenever you need, and you can use SmartPlan to track and manage as many as eight separate credit card balances or large purchases at once.
As mentioned previously, if you are unable to clear the transferred balance within 12 months, the remaining amount will accrue interest at the higher cash advance rate.
In general, the Westpac Low Fee Credit Card has a relatively high rate of interest on purchases and cash advances.
There are several reasons why you might choose the Westpac Low Fee Credit Card. There's also the optional SmartPlan tool that could make it easier for you to manage large purchases and balances by breaking them down into regular instalments.
As a new cardholder, you will pay no annual fee in the first year. In following years, the card’s standard annual fee will be waived, as long as you spend $5,000 on the card within that 12 month period. The card also offers basic features, like the ability to lock your card if you misplace it, to set up auto-payments, and to use a Mobile Wallet and leave your card at home.
Providing all the basic features you need on a simple, no frills credit card, the Westpac Low Fee Credit Card’s big incentive is its offering of $0 annual fee for the first year.
Purchase rate 19.74% p.a.
Cash advance rate 21.49% p.a.
Interest free period on purchases up to 55 days
Minimum credit limit $500
Maximum credit limit $50,000
Annual fee $30 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); $40 (Westpac Flex)
Annual fee the first year $0
Cash advance fee 3%
Late payment fee $15
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
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 of account (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.
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Australian citizens, permanent residents or holders of an acceptable visa
Minimum income of $30,000 p.a.
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
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