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Westpac Low Rate Credit Card
Westpac Low Rate Credit Card

Westpac Credit Cards

Westpac Low Rate Credit Card

Updated 16 April 2021

The Westpac Low Rate credit card can save you on interest with 0% p.a. on balance transfers for 28 months. A 1% Balance Transfer Fee applies. The card comes with a $0 annual fee for the first year plus a low purchase rate of 13.74% p.a. New cards only.

T&Cs apply. Offer ends 7 September 2021

Purchase Rate (p.a)

13.74%

Balance Transfer (p.a)

0% for 28 months 1% balance transfer fee applies.
Reverts to 21.49% p.a.

Annual Fee (p.a)

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

$0 over 28 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for the first 28 months with a 1% 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

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

Low purchase rate? Check. No annual fee for the first year? Check. Awesome introductory offer? Check. While it may not be chock-full of fancy features, the Westpac Low Rate Credit Card certainly has its attractions. In fact, it’s Westpac’s most popular credit card.

Why would this unassuming little card be so popular? Aside from its intro offer – which is pretty darn enticing – this card doesn’t have any flashy drawcards. It’s simple, no frills. It does exactly what you expect it to. So, if you’re not that interested in features and rewards, if you simply want access to credit at a low rate, then this card could be very appealing indeed.

Want to look a little closer? Let’s dive in.

What we love...

We’ll look at the big flashy introductory offers first. It offers a 0% p.a. on balance transfers for 28 months.

For anyone who wants to pay down existing credit card debt, this is a fantastic deal. You get a whole 28 months to chip away at that debt and pay it down as much as possible. A 1% balance transfer fee applies.

While the introductory offer gives you plenty of time to pay down your debt, any balance left unpaid at the end of the intro period reverts to the high cash advance rate on the card.

On top of this, as a new cardholder, you get to enjoy the benefits of having a credit card without paying an annual fee for the first year. This gives you the opportunity to save on card costs and focus on clearing your balance or paying off existing debt.

Now to the less flashy features. One of the most appealing aspects of this card is its low purchase rate. While it’s not that exciting, it can help you save heaps in interest. If you tend to carry a balance, then you want to pay as little interest as possible.

Most rewards cards and platinum cards have big features. But they also often come with purchase rates upwards of 20% p.a., and a much higher annual fee. With the Westpac Low Rate Credit Card, you can save on interest while paying a very reasonable $59 standard annual fee.

What’s not so great...

You’ll only find drawbacks to this card if you’re looking for a card that offers more. If you want bells and whistles, fancy features, big rewards programs and lots of extras, this card doesn’t have them. The best thing for you to do is look at different types of cards.

The only other drawback we will mention is related to the balance transfer offer. Be aware 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?

We’ve already talked about many of the reasons you would want to choose this card. You might want to take advantage of its introductory offer to save on interest on balance transfers or purchases. Alternatively, you may want to save money on interest month-to-month while paying a low annual fee.

However, the card does offer a selection of other extras you might find appealing. For instance, you can add an additional cardholder to your account. You might also be a fan of the low minimum income requirement of $30,000 a year. You can also enjoy up to 55 days interest free on purchases when you pay off your balance each month.

There’s also the convenience of contactless technology at the checkout or you could tap and pay with your smartphone. It also comes with Westpac Added Online Security, a Fraud Money Back Guarantee and access to SmartPlan, which helps you structure your repayments into a regular monthly payment. While these features may not make you jump up and down with excitement, they can be really handy when you need them.

Overall Rating

A low rate card with an amazing introductory offer on balance transfers and annual fee. Offer ends 7 September 2021.

User reviews

Westpac Low Rate Credit Card ( based on 304 Creditcard.com.au user reviews )

82% rating based on 304 reviews

Rates
Fees
Rewards
Customer Service
Value
85%

Creditcard.com.au Visitor

23 September 2016

Good

Recommends this card
60%

Creditcard.com.au Visitor

20 January 2016

Good BT rate But then reverts to HIGH Cash Interest rate. Expensive if this happens, Average Customer Service. Very Average Credit Lending Practices. Westpac has just been caught incorrectly handling Clients Credit Cards when doing Limit increase etc.

Recommends this card
84%

Rhonda Townsend

28 January 2013

Thereâ??s quite a lot of low rate cards I found when I was looking. I trust Westpac so I thought this would be a good choice out the lot of them. The interest rate is low and so is the annual fee. If you want to take advantage of the BT, this is good for that too.

Recommends this card
82%

Frances Green

28 January 2013

I was really just looking for a no nonsense card that had low interest. I can\'t always pay off my full credit card bill each month so I wanted one with low interest so I could save money. This card seems to be doing the trick. Low interest and the annual fee is fairly low as well.

Recommends this card

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 0% p.a. for 28 months

Balance transfer revert rate 21.49% p.a.

Balance transfer from personal loan No

Balance transfer fee 1% 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 card holder 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

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

  • 0% p.a. on balance transfers for the first 28 months with a 1% 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.

319 questions (showing the latest 10 Q&As)

Amanda

Amanda

23 February 2021
I balance transfer an amount of $11,500 from citi bank to to yor westpac low rate credit card what will the monthly payment be?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 February 2021
    Hi Amanda, if you transfer the full $11,500 and pay it off in equal monthly payments over 24 months, the monthly payments would be about $489. This factors in the balance transfer fee as well as the annual fees. I hope that helps.
laura beaumont

laura beaumont

5 February 2021
hi , i am wanting to clear a couple of my bills into the one however i read you cant use to pay off a loan , is that correct, what i was wanting to do is pay off my go mastercard and small personal loan
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 February 2021
    Hi Laura, That's correct. With Westpac, you cannot consolidate / pay off personal loan debt with a balance transfer. There are some lenders, like Citigroup (Citi, Coles, Qantas Money as examples) that do allow you balance transfer personal loan debt onto a credit card.
Cheryl

Cheryl

3 February 2021
Get credit card payment
pat lacroix

pat lacroix

1 February 2021
Hi Roland, I moved here from Canada 4yrs ago. I have been using Westpac Debit Credit Card for all my transactions. I just recently began to inquire about my credit score. I found out through Equifax that my credit score is 642. I obviously need to increase my score so I thought maybe with this card would be a good start but am worried I might get rejected and lower my score even more. Do you have any suggestions, is this a good card to start with with low risk of rejection. I had a car payment with no missed payments and no late payments. Does Australia have Secured Credit Card? Thanks any help would much appreciated. Pat
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    2 February 2021
    Hi Pat, the secured credit card seems to be out the window in Australia. More on, the debit card accounts seemed to have replaced this. Based on what info you have provided. I would say you have a change to apply for the Westpac Low Rate. This card is one of the easier to get approved for. Its a great starting point on your credit card journey.
jeff

jeff

2 December 2020
My wife has just passed away. We had a joint credit card. I am on a pension. Can I keep the credit card.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    2 December 2020
    Hi Jeff, sorry to hear about your wife's passing. That is a good question and one I personally do not know the answer. I would go in branch and speak to Westpac. It should be fine for your to keep the card but it move over to just in your name.
Reiner

Reiner

28 November 2020
I want either 2 credit cards, one for my self, the other for my wife, or one credit card with 2 individual numbers in case one is lost or stolen. I am a self funded retiree. I know this sort of product exists with Amex, so why can't it be done by the banks.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 November 2020
    Hi Reiner, this is possible with most credit cards. It is called adding a secondary card holder. That card has a unique credit card number. The primary card holder is responsible for all the debt. You can certainly add an additional card holder with the Westpac Low Rate at no extra cost.
David Lewis

David Lewis

8 October 2020
Can applications be made jointly? Both me & my partner
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 October 2020
    Hi David, no, this card is only for individual applications. Though once approved, you can issue a supplementary card to your partner or vice versa.
Vraj

Vraj

11 September 2020
I am currently studying and having a part time income. It says temporary residents are eligible. So Am I eligible?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 September 2020
    Hi Vraj, if you income is over 15k a year plus you have over 9 months left on your Visa. Then you can be eligible for this offer. Approval will depend on a range of factors though affordability is key. Are you putting away money each month to show you have extra funds to pay the card off etc. The time you have been working will be a factor also. I suggest at least 6 months of income within the same job.
Betzy

Betzy

7 August 2020
Can I apply for the student credit card while I hold a Student Visa?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    7 August 2020
    Hi Betzy, yes, this is possible. You will need at least 9 months left on your Visa. I would only apply if you have been working at least 6 months at the same business. Giving some work history. Key factors for approval will be income v expenses.
Nicole

Nicole

27 June 2020
I am a discharged bankrupt (oct 2019). I work full time as a teacher, and have no debt. I’m wondering if I would be eligible to apply for a credit card to build up my credit rating?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 June 2020
    Hi Nicole, its tough to get approval for credit cards in the current market. It could be possible depending on your income v expenses, assets v liabilities but it will be tough. Then how you have been going on paying all your bills etc in the last 2 years. That is, always on time, no late payments, no negative bank accounts etc. Bottom line, you wont know until you have a go. If you have not applied for credit in the last 6 months then its worth a shot. If you are declined then do not apply again for another credit card until at least 6 months later. Have a read of a few articles that may assist. Credit card application tips. Another feature article that would be worth the read. https://www.creditcard.com.au/what-to-do-when-your-credit-card-application-is-declined/
Melanee

Melanee

22 May 2020
Hi Can I go into a westpac branch in to discuss transfering my cc balance please? Or can I speak to you on the phone? or a consultant on the phone? Thank you Melanee
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 May 2020
    Hi Melanee, sure you can go into a branch. Phone seems to be a bit harder as could be holding for a while right now. What do you need to discuss?
Nina Cosgrove

Nina Cosgrove

3 May 2020
I would like to apply for this card and transfer a balance of a card that is in my partners name with me as an additional card holder. Can I do this as we will be joint card holders?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 May 2020
    Hi Nina, a balance transfer must be between the same legal person. Therefore you would not be able to transfer credit card debt in your partners name. As an additional card holder you have no responsibility of the debt. It is all in your partners name. Therefore to transfer the debt, your partner must get a balance transfer themselves.
Lesley

Lesley

17 February 2020
I am retired and as well as super also have overseas pension income. Does Westpac consider overseas pension income for this card. Or do you know of any other credit card where they will consider overseas pension income?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 February 2020
    Hi Lesley, I am not sure if any banks do see overseas pension as income. Though I would note it down with any application and use it as part of my income. Westpac, as a big 4, would be the most likely of any to accept. The country providing the pension may also be a factor in whether they would accept. This card has a low 15k minimum income. Though meeting the income requirement is only 1 factor for approval.
bruce

bruce

9 February 2020
I have been discharged from Bankruptcy 14 months ago, my wife works and i work full time. Bankruptcy happened due to Illness , I used to work for a Bank,I have a secured car loan which i obtained to start the process to rebuild by credit. It has been 1 years and excellent conduct. Do i have a chance, or am i wasting my time applying, thank You Bruce
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 February 2020
    Hi Bruce, it is tough to know whether you could get approved. My gut says wait until 2 years post bankruptcy before applying for a credit card. Sounds like you are doing all the right things. The secured car loan is a good start. Just make sure you are paying all your bills on time (they check 2 years). Then if you are putting away money each month as well so show excess funds. I am being more cautious but I think with rebuilding credit that is the best way.
Zol

Zol

26 January 2020
If I have bad credit rating, should I even try applying as I dont want any further credit checks? Do you have a secured Creditcard option?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 January 2020
    Hi Zol, with bad credit, I suggest you do not bother applying. Most banks have a Visa or Mastercard Debit Card option. That is the new kind of secured card in Australia. That would be your best bet.
Janice

Janice

24 January 2020
I am on the aged pension I would like to apply for a low rate credit card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 January 2020
    Hi Janice, this could be a possibility. Westpac are flexible with approval for pensioners. You will need good credit for approval. That is paying your bills on time for last 2 years. No defaults or any issues on your credit file. Hopefully you have a little excess money to put away each month also. This shows the bank you can afford repayments. Best of luck with your application.
Amit

Amit

29 November 2019
If I transfer 4000$ to my account . How much interest I will be paying for this 4000$ if I could pay it back in 2 months time ????
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    2 December 2019
    Hi Amit, if you are doing a cash advance, then the Cash rate is 20.24% p.a. There are also some extra fees involved. Though the interest would be around $135.
Belinda

Belinda

11 November 2019
Good Morning, I am looking for a credit card . I am only looking for a small amount $1500.00 for medical bills . What would b best suited to my needs
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 November 2019
    Hi Belinda, it depends on a range of factors. This Westpac low rate card is a good one and I think could be suitable. In the end you have to look at a reasonable annual fee and interest rate.
shaun

shaun

8 November 2019
do you take the disability pension as income and rental income.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 November 2019
    Hi Shaum, yes Westpac can see the disability pension as income. Though approval will depend on a range of factors. Income v expenses, assets v liabilities and your credit history being key factors.

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