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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 6 July 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

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 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®

  • 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 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

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

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.

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

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.

22 questions (showing the latest 10 Q&As)

Sarah

Sarah

27 June 2022
I am looking to get a credit card and wondering if you offer these to non residents? I am on a bridging visa waiting for a year long covid visa and have been in Australia 4 years. Would I qualify?
    Pauline - CreditCard.com.au

    Pauline

    28 June 2022
    Hi Sarah, this depends on what type of visa you are currently on. If you’d like to drill down into each of the providers, we’ve gone through the visa requirements for some of the bigger providers. Anecdotal evidence suggests it’s best to call a provider and chat through your options. Some cards have higher annual income requirements for visa holders, and others require you to have a certain amount of time left. Let us know how you go!
Souths

Souths

14 June 2022
is the purchase of things like gift cards (through a gift card portal) count as an eligible purchase for this deal? What about direct debits for things like Foxtel or Optus NBN etc?
    Pauline - CreditCard.com.au

    Pauline

    16 June 2022
    Hi Souths, gift cards are generally charged as a cash advance on credit cards, which means it’s not an eligible purchase. If you set your Foxtel and Optus transactions to be processed as a credit card transaction, it should be an eligible purchase. You should check with Westpac to confirm before processing your transactions.
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