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Westpac Low Rate credit card

304 reviews

Apply by 2 April 2019

Purchase rate

13.49% p.a.

Balance transfer

0% 24 months
0% Complete (success)
reverts to 19.49% p.a. 1% fee applies

Annual fee

$0 first year
0% Complete (success)
then $59

Pros

0% p.a. on balance transfers for 24 months requested at card application

Low variable purchase rate of 13.49% p.a.

No annual fee the first year

Low annual fee of $59 thereafter

Cons

You CANNOT transfer loan balances - up to 3 credit card or store card balances only

1% balance transfer fee is added on top of your balance transfer amount

After the balance transfer period ends the rate reverts to the cash advance rate for any unpaid balance

No reward points but with such as great low rate offer - what are you looking for?

Westpac Low Rate credit card

The Westpac Low Rate credit card can save you money with 0% p.a. on balance transfers for 24 months with a 1% balance transfer fee (reverts to the cash advance rate) and $0 annual fee the first year – save $59. The purchase rate is 13.49% p.a. and the cards comes with a $59 annual fee creating a good low rate package. 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. Offer ends 2 April 2019.

Key features

  • 0% p.a. on balance transfers for the first 24 months with a 1% balance transfer fee. Rate then reverts to the variable cash advance rate
  • Low rate of 13.49% p.a. on purchases
  • No annual fee the first year - $59 annual fee 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
custom Image

0% p.a. on balance transfers for the first 24 months

A one off 1% balance transfer fee applies. Rate reverts to variable cash advance rate, currently 19.49% p.a. Offer ends 2 April 2019

custom Image

$0 annual fee for the first year

A low $59 annually thereafter. Offer ends 2 April 2019

  • Rates
    81%
  • Fees
    79%
  • Rewards
    N/A
  • Customer Service
    86%
  • Value
    82%
100% of customers who have rated this card would recommend it
Overall customer rating 82%
304 reviews

85% Visitor | 23 September 2016

Good

Recommends this card

60% 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

Interest Rates
Purchase rate 13.49% p.a.
Cash advance rate 19.49% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Balance transfer rate 0% p.a. for 24 months
Balance transfer fee 1% one off
Balance transfer revert rate 19.49% p.a.
Balance transfer limit 80% of your approved new credit limit
Balance transfer from personal loan No
Banks you can't balance transfer from Westpac
Credit limits
Minimum credit limit $1,000
Maximum credit limit $40,000
Fees & repayments
Annual fee $59 p.a.
Annual fee first year $0
Additional cardholder fee $0 p.a.
Cash advance fee 2%
Foreign transaction fee 3%
Minimum repayment 2%
Late payment fee $15
Credit card type Mastercard
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No

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 24 months.

For anyone who wants to pay down existing credit card debt, this is a fantastic deal. You get a whole 24 months to chip away at that debt, to 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.

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. As a plus the annual fee is waived for the first year.

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. It comes with a 1% balance transfer fee and 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 2 April 2019.

286 questions (showing the latest 10 Q&As)

Owen

Owen

25 March 2019
I have a current Westpac credit card. Am I able to step up to a platinum credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    25 March 2019
    Hi Owen, this could be possible as long as you meet the minimum requirements to do so. What Platinum card are you looking at?
GiGi

GiGi

22 March 2019
hi im looking for a credit card with low interest fee and longest days to pay back looking to pay my bills and accommodation with this card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 March 2019
    Hi Gigi, the NAB Low Rate Platinum special offer could work for you. If has 0% on purchases for 15 months. The standard interest rate is 13.99% p.a. So its not a bad revert rate. You still have to make minimum monthly payments during the 0% intro period. Virgin low rate could be another option but no 0% rate.
siva

siva

16 March 2019
I Came sydney two months back . can i apply this credit card with two pay slips..
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 March 2019
    Hi Siva, if you have only been working 2 months this is a short period of times for the banks. May I suggest that you wait until you have 6 months of employment history. Though you could have a go now and see how it works. Everyone's situation is unique. Approval will depend on a range of factors. Have a read through our credit card application tips.
Nehad

Nehad

11 March 2019
How Can I apply for that card for transfering balance
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 March 2019
    Hi Nehad, how much debt are you wanting to transfer and from what bank?
Michael

Michael

5 March 2019
Hi Roland, I want to know if there is a lock in contract to the Westpac low rate card? For example; If i balance transfer and don't pay off the entire amount in 24 months will I be able to balance transfer to another lender and continue to pay off the amount owing? Keeping in mind that i wont be using this card for purchases. Only to pay down my debt
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 March 2019
    Hi Michael, yes you could, subject to credit approval. Transfer your balance again if you don't pay it off in full by the 24 month intro period. There is no minimum period that you are required to keep a credit card. You can close it down whenever you have a $0 balance or can pay it off.
Julie N

Julie N

25 February 2019
Hello Rolland ---I have a credit limit of $8000 and I owe $6700 and have $1264 available can I transfer the whole amount and be able to still use the available balance if needed while I pay offf the credit. Thank you Julie N
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    25 February 2019
    Hi Julie, yes this is possible. A balance transfer needs to be between different banks. With this Westpac low rate offer. You can transfer up to 80% of your new limit. Therefore you would need to get approved with Westpac for $8,500 or more limit to do that size transfer.
  • Be over 18 years old
  • Good credit and 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
Westpac Low Rate credit card
Westpac Low Rate credit card

Westpac Credit Cards

Westpac Low Rate credit card

14 March 2019

Apply by 2 April 2019

Purchase Rate (p.a)

13.49%

Balance Transfer (p.a)

0% for 24 months 1% BT fee applies. reverts to 19.49% p.a.

Annual Fee (p.a)

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

$0 over 24 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Westpac Low Rate credit card

The Westpac Low Rate credit card can save you money with 0% p.a. on balance transfers for 24 months with a 1% balance transfer fee (reverts to the cash advance rate) and $0 annual fee the first year – save $59. The purchase rate is 13.49% p.a. and the cards comes with a $59 annual fee creating a good low rate package. 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. Offer ends 2 April 2019.

Key features

  • 0% p.a. on balance transfers for the first 24 months with a 1% balance transfer fee. Rate then reverts to the variable cash advance rate
  • Low rate of 13.49% p.a. on purchases
  • No annual fee the first year - $59 annual fee 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

Customer Reviews

Westpac Low Rate credit card

82% rating based on 304 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates & Fees

Interest rates

Purchase rate 13.49% p.a.

Cash advance rate 19.49% p.a.

Interest free on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 24 months

Balance transfer revert rate 19.49% 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 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%

Annual fee the first year $0

Cash advance fee 2%

Late payment fee $15

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone Screen Insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Our Review

Editor Review

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 24 months.

For anyone who wants to pay down existing credit card debt, this is a fantastic deal. You get a whole 24 months to chip away at that debt, to 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.

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. As a plus the annual fee is waived for the first year.

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. It comes with a 1% balance transfer fee and 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 2 April 2019.

Pros

  • 0% p.a. on balance transfers for 24 months requested at card application
  • Low variable purchase rate of 13.49% p.a.
  • No annual fee the first year
  • Low annual fee of $59 thereafter

Cons

  • You CANNOT transfer loan balances - up to 3 credit card or store card balances only
  • 1% balance transfer fee is added on top of your balance transfer amount
  • After the balance transfer period ends the rate reverts to the cash advance rate for any unpaid balance
  • No reward points but with such as great low rate offer - what are you looking for?

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

Customer reviews

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
100%

CreditCard.com.au Visitor

28 January 2013

good low rate and good BT. I don\'t mind Westpac, they\'re decent enough on the phone

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
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 Question

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

286 questions (showing the latest 10 Q&As)

Owen

Owen

25 March 2019
I have a current Westpac credit card. Am I able to step up to a platinum credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    25 March 2019
    Hi Owen, this could be possible as long as you meet the minimum requirements to do so. What Platinum card are you looking at?
GiGi

GiGi

22 March 2019
hi im looking for a credit card with low interest fee and longest days to pay back looking to pay my bills and accommodation with this card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 March 2019
    Hi Gigi, the NAB Low Rate Platinum special offer could work for you. If has 0% on purchases for 15 months. The standard interest rate is 13.99% p.a. So its not a bad revert rate. You still have to make minimum monthly payments during the 0% intro period. Virgin low rate could be another option but no 0% rate.
siva

siva

16 March 2019
I Came sydney two months back . can i apply this credit card with two pay slips..
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 March 2019
    Hi Siva, if you have only been working 2 months this is a short period of times for the banks. May I suggest that you wait until you have 6 months of employment history. Though you could have a go now and see how it works. Everyone's situation is unique. Approval will depend on a range of factors. Have a read through our credit card application tips.
Nehad

Nehad

11 March 2019
How Can I apply for that card for transfering balance
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 March 2019
    Hi Nehad, how much debt are you wanting to transfer and from what bank?
Michael

Michael

5 March 2019
Hi Roland, I want to know if there is a lock in contract to the Westpac low rate card? For example; If i balance transfer and don't pay off the entire amount in 24 months will I be able to balance transfer to another lender and continue to pay off the amount owing? Keeping in mind that i wont be using this card for purchases. Only to pay down my debt
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 March 2019
    Hi Michael, yes you could, subject to credit approval. Transfer your balance again if you don't pay it off in full by the 24 month intro period. There is no minimum period that you are required to keep a credit card. You can close it down whenever you have a $0 balance or can pay it off.
Julie N

Julie N

25 February 2019
Hello Rolland ---I have a credit limit of $8000 and I owe $6700 and have $1264 available can I transfer the whole amount and be able to still use the available balance if needed while I pay offf the credit. Thank you Julie N
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    25 February 2019
    Hi Julie, yes this is possible. A balance transfer needs to be between different banks. With this Westpac low rate offer. You can transfer up to 80% of your new limit. Therefore you would need to get approved with Westpac for $8,500 or more limit to do that size transfer.

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