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Westpac Low Rate Credit Card – Cashback Offer
Westpac Low Rate Credit Card – Cashback Offer

Westpac Credit Cards

Westpac Low Rate Credit Card – Cashback Offer

Updated 28 September 2021

Get $400 cashback when you apply and be approved by 30 November 2021 and spend $4,000 on eligible purchases within 120 days from card approval. This card also comes with 6.99% p.a. on balance transfers for 12 months, no balance transfer fee applies. Enjoy a $0 annual fee for the first year plus a low purchase rate of 13.74% p.a.

T&Cs apply. Offer ends 30 November 2021

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)

$0 first year. Then $59 p.a.

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Get $400 cashback
  • 6.99% p.a. on balance transfers for the first 12 months with no balance transfer fee. Rate then reverts to the variable cash advance rate
  • No annual fee for the first year, $59 thereafter
  • Low rate of 13.74% p.a. on purchases
  • Low minimum income of $30,000 p.a. is required to be eligible
  • Free additional cardholder
  • Tap & goTM quickly and easily using your Mastercard®

  • 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

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. 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, no annual fee for the first year, generous introductory offer on balance transfers and a bountiful cashback of $400 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.

Added to its money saving features is the opportunity to enjoy the benefits of having a credit card without paying an annual fee for the first year and this goes back to an awesome $59 p.a ongoing annual fee.

Now, let’s talk about the highlights of this card and what makes it different from other low rate cards. Get $400 Cashback 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.

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. $400 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, waived annual fee for the first year, and 6.99% on balance transfer for 12 months. This also gives you money back on your everyday purchases.

User reviews

Westpac Low Rate Credit Card – Cashback Offer ( based on 0 Creditcard.com.au user reviews )

0% rating based on 0 reviews

Rates
Fees
Rewards
Customer Service
Value

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

Banks you can't balance transfer from Westpac

Credit limits

Minimum credit limit $500

Maximum credit limit $40,000

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

Annual fee the first year $0

Cash advance fee 2% or $2.50, whichever is greater

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 a low minimum income requirement of $30,000 a year, 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.

Key features

  • Get $400 cashback
  • 6.99% p.a. on balance transfers for the first 12 months with no balance transfer fee. Rate then reverts to the variable cash advance rate
  • Low rate of 13.74% p.a. on purchases
  • No annual fee for the first year, $59 thereafter
  • 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

  • Resident or citizen of Australia. Temporary residents are eligible.

  • Minimum income of $30,000 p.a.

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

Showing one question (showing the latest 10 Q&As)

Paul

Paul

11 September 2021
In regards to the Westpac Low Rate Credit Card - Cashback offer, once you spend the spend $4,000 or more within 4 months, does the cashback appear as credit on your account? Can you withdraw that $400 and transfer it to your other bank account, ie. cash it out?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 September 2021
    Hi Paul, the $400 will automatically be paid as a statement credit to your Low Rate credit card account in 60 days of meeting the minimum spend criteria. Thus it cannot be withdrawn or transferred.
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