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Westpac Low Rate Credit Card
Westpac Low Rate Credit Card

Westpac Credit Cards

Westpac Low Rate Credit Card

Updated 31 May 2024

The Westpac Low Rate credit card is a fabulously low-interest card with a tiny $59 annual fee and a big bonus: if you're an existing Westpac customer, you won't pay any annual fee at all the first year.

Stacking on the value, you can also save on interest with 0% p.a. on balance transfers for a massive 28 months (with a 2% balance transfer fee).

Terms and conditions apply

Purchase Rate (p.a)


Balance Transfer (p.a)

0% for 28 months 2% balance transfer fee applies.
Reverts to 21.49% p.a.

Annual Fee (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 2% balance transfer fee. Reverts to variable cash advance rate
  • $59 annual fee, waived the first year if you're an existing Westpac customer
  • Low rate of 13.74% p.a. on purchases
  • Earn cashback and rewards with Westpac's Shopback program
  • Use PartPay to split purchases into smaller instalments for easier repayment
  • Low minimum income of $30,000 p.a. is required to be eligible
  • Free additional cardholder

  • 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 review

Editor Review

Westpac Low Rate Credit Card

Pauline Hatch
Pauline is a personal finance expert at, with 8 years in money, budgeting and property reporting under her belt. about this card.

Who suits the Westpac Low Rate card?

First Timer: you’re looking for a fairly simple card with a few little perks to get you started. You’d like it to have a low annual fee and a low interest rate. Rainy Day Prepper: you want something low-cost to keep in your pocket. Even better if it has a few interest-free perks when you do have to use it. Carefree Splurger: budgets are a bummer, and you might need help with getting on top of debt. Low interest rates and low fees would be great.

The Westpac Low Rate Credit Card

Low purchase rate? Check. Low annual fee every 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 2% 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.

The annual fee is very low at $59, and Westpac is offering to waive the fee the first year if you're already a Westpac customer (this offer ends 31 July 2024).

If you're looking at ways to keep on top of your repayments, Westpac offers PartPay, which allows you to split purchases over $100 into 4 smaller repayments over 6 weeks using the Westpac app. PartPay is free to use, but a fee might apply if there isn't enough money in your nominated account to cover the repayment.

Westpac has also partnered with ShopBack to give you cash back, discounts and other rewards when you purchase from eligible retailers.

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, which you could even have waived the first year if you're already a Westpac customer. Offer ends 31 July 2024.

User reviews

Westpac Low Rate Credit Card ( based on 307 user reviews )

82% rating based on 307 reviews

Customer Service
85% Visitor

23 September 2016


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

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

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 2% 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); $40 (Westpac Flex)

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


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 contactless technology. With a low minimum income requirement of $30,000 a year, this card is a good fit for low income earners and those wanting a low-cost card.

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 2% balance transfer fee. Rate then reverts to the variable cash advance rate
  • Low rate of 13.74% p.a. on purchases
  • $59 annual fee, waived the first year if you're an existing Westpac customer
  • Up to 55 days interest free on purchases
  • Free additional cardholder
  • Fraud protection
  • Use PartPay to split purchases into 4 payments over 6 weeks
  • 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

  • Minimum income of $30,000 p.a.

  • You have your personal details ready to complete the online application


Pauline is a personal finance expert at, 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 our credit card expert a question.

327 questions (showing the latest 10 Q&As)

Yasir Syed

Yasir Syed

5 June 2024
I am interested in in balance transfer credit card to clear debt on other card
    Pauline -


    7 June 2024
    Hi Yasir, yes you can transfer your non-Westpac balance to the Westpac Low Rate Credit Card to help clear your debt on other cards. With this card, you’ll get 0% interest on balance transfers for the first 28 months, with a 2% balance transfer fee. For more details on balance transfers, you can read the blog I’ve written which covers some key rules about balance transfers. Otherwise you can click the Green button to be taken directly to Westpac’s site to apply.
Hannah Bruce

Hannah Bruce

31 May 2024
Good morning, I have 2 credit cards that I wish to consolidate. what are the qualifying factors to access the westpac low rate card
    Pauline -


    31 May 2024
    Hello Hannah, besides the standard eligibility requirements like being at least 18 years old and a permanent resident of Australia, you'll need to be able to prove you are who you say you are. These documents typically include proof of residency, evidence of regular income, ability to repay, and a credit check, among others.
Asmita Karki

Asmita Karki

16 March 2023
Hi, I am very new to this credit card world. I don't know the differences and pros and cons of using different types of credit cards. But when surfing the internet, this Westpac Low Rate Credit Card seemed to be the most popular one. Can you please tell me which one I should use and if this is the right one for me as a beginner?
    Pauline -


    17 March 2023
    Hi Asmita, obtaining your first credit card can be a thrilling and daunting experience. It’s crucial to understand the various types of credit cards that exist, as each one has its advantages and disadvantages. Some credit cards provide rewards programs, cashback on purchases, travel perks, and other benefits, while others may offer lower interest rates or fewer fees. As a beginner, you may want to consider a straightforward credit card that is easy to use and has minimal fees and non-complex features. The appropriate credit card for you will depend on your specific needs and preferences. You can read our article for tips on obtaining your first credit card, as well as compare some of the credit cards available to first time users. You can then dive into our expert reviews of each card to find out the pros and cons and other things to look out for. Hope this helps and if you have any other questions, let me know!!
Peter Beazley

Peter Beazley

19 December 2021
On the homepage it tells me that Westpac said they would give a credit card to an aged pensioner , and yet when I get to the Westpac page is says that the minimum required is $30,000
    Pauline -


    20 December 2021
    Hi Peter, thanks for the feedback! I can see that we have the Westpac Low Rate Credit Card – Cashback Offer listed under “pensioner credit cards”. I’m guessing that you’re on our Westpac Low Rate Credit Card page that indicates at least $30,000 income p.a. For other options, have a check of the pensioner cards application criteria we have researched to see what your options are. Keep in mind that different banks with a wide range of different cards have different eligibility criteria. This can range from income, assets, debts and other serviceability criteria. Hope this helped!
Annemarie Jenkins

Annemarie Jenkins

12 August 2021
My income is from rental income. I currently have a anz platinum but want to change
    Roland B Bleyer - Founder


    13 August 2021
    Hi Annemarie, thanks for your question. Rental income is a tricky subject and it can vary from bank to bank. It’s important that you can show a history of income from the rent. You’ll need to show evidence in your application, and maybe even give your accountants details. Your best option would be to give the bank you want to apply with a call and discuss your unique situation. Let us know how you go!
matthew wilson

matthew wilson

1 August 2021
According to the information, you guys will do pensioners for credit card applications, one page said a minimum of 15000 another page a minimum of 30000 which is right
    Roland B Bleyer - Founder


    2 August 2021
    Hi Matthew, thank you for your question! Different credit cards have different eligibility criteria. For Westpac Low Rate, the minimum income required is $30,000 p.a. We actually have created a list of pensioner cards that you can check to find the card that suits your needs.
Van Tan Tran

Van Tan Tran

17 July 2021
I am your current customer as Westpac 55+ and Retired holder since long years… I am a retiree with no other income than Centrelink as a Pensioner. And I would like to apply for a Credit Card with low annual fee or a Debit Card on top of my current and existing account holder of the Westpac 55+…. Please let me know which one or both cards you can approve in my favour. Best regards, Van Tan Tran(Mr) 17/7/2021
    Roland B Bleyer - Founder


    19 July 2021
    Hi Van Tan Tan, thanks for your interest in the Westpac card. We just want to confirm that your visiting and not the Westpac site. Different credit cards have different offers and the one that works for you comes down to your everyday spending needs. It would be good to start comparing a list of No Annual Fee Credit Cards and Pensioner Credit Cards for your options. Please note that you need to provide statements of your accounts and Centrelink statements alongside and banks may also require the details of your accountant too. Hope this helps!

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