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Westpac Low Rate Credit Card
Westpac Low Rate Credit Card

Westpac Credit Cards

Westpac Low Rate Credit Card

Updated 6 November 2019

The Westpac Low Rate credit card can save you on interest with 0% p.a. on balance transfers for 16 months. No balance transfer fee applies. Standard purchase rate of 13.74% p.a. Card comes with a $59 annual fee creating a good low rate package. Add one additional cardholder free.

T&Cs apply. Offer ends 31 March 2020

Purchase Rate (p.a)

13.74%

Balance Transfer (p.a)

0% for 16 months No BT fee. reverts to 21.49% p.a.

Annual Fee (p.a)

$59

$0 over 16 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 16 months with no balance transfer fee. Rate then reverts to the variable cash advance rate
  • Low rate of 13.74% p.a. on purchases
  • $59 annual fee
  • Low minimum income of $15,000 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. Low annual fee? 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 offer first. It offers 0% on balance transfers for 16 months.

For anyone who wants to pay down existing credit card debt, this is a fantastic deal. You get a whole 16 months to chip away at that debt, to pay it down as much as possible. No 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.

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 annual fee.

What’s not so great...

You’ll really 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 super-dooper 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 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 may find appealing. You may like adding one additional cardholder to your account. You might like the low minimum income requirement of $15,000 a year. You could 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. You may enjoy the additional confidence of having Westpac Added Online Security and a Fraud Money Back Guarantee. Westpac credit cards also comes with 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 incredibly handy when you need them.

Overall Rating

A low rate card with an affordable annual fee, providing an amazing introductory offer on balance transfers. Offer ends 31 March 2020.

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
79%

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
80%

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 on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 16 months

Balance transfer revert rate 21.49% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee.

Balance transfer limit 80% of approved credit limit

Banks you can't balance transfer from Westpac

Credit limits

Minimum credit limt $1,000

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%

Cash advance fee 2%

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 (if you pay off your balance in full each month) and the convenience of contact-less technology – Tap & goTM. With a low minimum income requirement of $15,000 a year, this card has definite appeal.

Key features

  • 0% p.a. on balance transfers for the first 16 months with no balance transfer fee. Rate then reverts to the variable cash advance rate
  • Low rate of 13.74% p.a. on purchases
  • $59 annual fee
  • 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 $15,000 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.

302 questions (showing the latest 10 Q&As)

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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