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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 11 January 2022

Get $400 cashback when you apply and be approved by 24 February 2022 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 24 February 2022

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 when you spend $4,000 on eligible purchases within 120 days from card approval
  • 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
  • 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

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt 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 $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

Annual fee the first year $0

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.

Key features

  • Get $400 cashback when you spend $4,000 on eligible purchases within 120 days from card approval
  • 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

  • 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

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.

12 questions (showing the latest 10 Q&As)

Amim

Amim

5 January 2022
I had a credit card with cash back offer before with Westpac and I have already closed it almost a year ago. Am I still eligible for this new offer or because I had used the cash back offer once before ( $300) this time the cash back doesn’t work for me. Thanks
    Pauline - CreditCard.com.au

    Pauline

    6 January 2022
    Hi Amim, I checked Westpac’s terms and it states that those who hold or have had a Low Rate or Lite credit card in the last 12 months are not eligible for Westpac’s cashback offer.
Frances

Frances

13 December 2021
Do Bpay bills count as eligible purchases on Westpac Low Rate Credit card?
    Pauline - CreditCard.com.au

    Pauline

    14 December 2021
    Hi Frances, I checked the Westpac site for their T&C’s and found that BPAY or similar transactions (such as Post Billpay) do not count as an eligible transaction.
Lucy

Lucy

2 December 2021
Hi, I am interested in applying for the Westpac Low Rate Credit Card. Could you please advise what my Annual Income needs to be. Just don't want to waste everyones time if I happen to be below. I have no other debt. Thanks Lucy
    Pauline - CreditCard.com.au

    Pauline

    9 December 2021
    Hi Lucy, I checked on Westpac Low Rate Cashback credit card’s terms and it does not specify an exact annual income but it stated that you should have a regular, verifiable Australian taxable income along with other eligibility. You can click on the Find Out More button at the top of this page to get more information and to check the card’s eligibility requirements and its TMD. Let us know how you go!
John Agius

John Agius

29 November 2021
Does a Westpac Credit Card provide international travel insurance and if so what are the conditions
Tim

Tim

19 November 2021
How come Westpac want to charge me $250 per year for credit card yet offer $59 per year after the first year which is free on transfer. and I have banked with Westpac for years
    Pauline - CreditCard.com.au

    Pauline

    22 November 2021
    Hi Tim, sorry to hear about your issues. In a nutshell, banks want new customers.They’ll offer big incentives to try and entice people to sign up like bonus points or long term balance transfers, or in this case annual fee discounts. It might be worth calling Westpac to chat to the team about your annual fee. I’ve heard stories of users getting a discount or fee waiver. If you’re interested in comparing cards that don’t charge an annual fee, you can check out a range of no annual fee credit cards here. Let us know how you go!
Hana

Hana

11 November 2021
Does paying electricity bill count toward $400 cash back?
    Pauline - CreditCard.com.au

    Pauline

    12 November 2021
    Hi Hana, we had a look into Westpac’s terms and conditions and found that using your card to pay for your electricity bill is considered as an eligible transaction via the usual credit card option. If however, you pay via the BPAY option, that transaction won’t be eligible. Double check with Westpac too before submitting any application.
Sharon

Sharon

8 November 2021
Does paying a person doing works on your house count towards $400 cash back and monthly private health contributions
    Pauline - CreditCard.com.au

    Pauline

    9 November 2021
    Hi Sharon, thanks for your question. We checked the T&C’s of the card and if you pay these as normal credit card transactions you should be ok. If you pay either of these as BPAY transactions they won’t be eligible. Of course, you should double check with Westpac before applying. Hope this has helped you out.
Sharon

Sharon

6 November 2021
With the $400 casback card. Is there a list of what is and isn't classed as eligible purchases. For example council rates, paying a contractor fur work. I.e an electrician?
    Pauline - CreditCard.com.au

    Pauline

    8 November 2021
    Hi Sharon, eligible purchases are transactions you make daily like paying for groceries, petrol, a doctor’s fee, a restaurant bill, etc. According to Westpac’s terms and conditions, eligible purchases do not include interest, fees, charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions, refunds and balance transfers debited to the card account. It’s a long list but we hope this helped!
Udi

Udi

24 October 2021
What is classified as eligible purchases to receive the $400 cash back?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    26 October 2021
    Hi Udi, eligible purchases are your daily transactions. These can include payments you make towards groceries, petrol, doctor's appointments, restaurants, just to name a few..
Nic

Nic

13 October 2021
Credit card eligibility
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 October 2021
    Hi Nic, the basic credit card eligibility for Westpac Low Rate Cashback credit card are as follows: at least 18 years old have a good credit score an Australian citizen (or have a permanent residency visa) Click the Go To Offer button above to see the full list of eligibility criteria and TMD before deciding the card is for you, and apply.
Mahsa

Mahsa

5 October 2021
Can I balance transfer from StGeorge credit card to your westpac?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 October 2021
    Hi Mahsa, though Westpac is technically an affiliate of St.George, you still can request a balance transfer at the application process. Keep in mind that you’ll only be able to transfer a maximum of 80% of your approved credit limit.
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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