- Limited-time offer: Get 0% p.a. on balance transfers for the first 24 months. A 2% balance transfer fee will be charged.
- Low annual fee: $59 annual fee, waived the first year if you’re an existing Westpac customer.
- Low rates: Interest on purchases is just 13.74% p.a.
- Low minimum income: Westpac says a minimum of just $30,000 per year is required to apply.
- Rewards: You can earn cashback and rewards with Westpac’s Shopback program.
- Extras: Use PartPay to split purchases into smaller instalments for easier repayment. Add 1 free additional cardholder and sync your card with Apple Pay, Google Pay and Samsung Pay.
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Westpac Credit Cards
Westpac Low Rate Credit Card
Updated 26 March 2025
The Westpac Low Rate credit card keeps it simple but brings plenty of value. If your goal is paying off debt or keeping a low-cost card in your back pocket, you might like this tiny $59 annual fee plus, 0% p.a. on balance transfers for a massive 24 months with 2% balance transfer fee.
Purchase Rate (p.a)
13.74%
Annual Fee (p.a)
$59
Pros and cons
- You can’t transfer loan balances - up to 3 credit card or store card balances only
- The 24-month balance transfer offer is only available to new Westpac customers
Creditcard.com.au review
Editor Review
Westpac Low Rate Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question 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. |
Overall Rating
It could be an incredibly boring card, but the Westpac Low Rate keeps itself interesting enough that it’s worth a second date. The 0% p.a. balance transfer offer really sets it up as a way to tackle credit card debt and keep costs to a minimum.
If you don’t need a balance transfer, you’ll still get mileage out of the low annual fee, low interest rate, 55 days interest-free and a free extra cardholder.
Editor’s Review: What I love about the Westpac Low Rate card
This is a card with only a few features but what it does have, it does well. Let’s look at the balance transfer offer first, then how to use the card best.
0% on balance transfers:
The good news
- You won’t pay interest on your balance transfer for 24 months.
- You’ll still get the 55 days interest-free, which is a fabulous benefit.
- You can transfer the balance of up to 3 credit cards to your new card (excluding Westpac).
- Westpac lets you transfer a minimum of $200 and up to 80% of your credit limit.
The bad news
- You can’t transfer from personal loans.
- You’ll pay a 2% fee on the amount you’re transferring.
- The offer isn’t available if you’re already a Westpac customer.
As with any balance transfer, once the 0% promotional time is up you’ll pay the cash advance rate on what’s left unpaid. Also, the balance transfer must be requested when you apply, so have your card account details ready.
Work out your estimated weekly repayments and how much interest you'll save:
Balance Transfer Calculator
This calculator does not take into account your personal circumstances or any other fees that may apply.
I have to give this card a huge thumbs up for keeping the 55 days interest-free while you have a balance transfer. It means you won’t pay interest the second you use the card to buy a cheeseburger.
Of course, if you’re using the balance transfer it’s best to avoid burger purchases until the transfer is paid off.
Extra perks and benefits
Use Smart Plan to pay your balance in instalments. You can nominate part of your balance to pay off interest-free in 3, 6 or 12-month instalments. A small establishment fee applies.
The Large Purchase Smartplan is for single purchases of $200 or more within the last 30 days, and the Balance SmartPlan lets you nominate a sum of $200 or more.
Discounts and cashback with Westpac ShopBack. You can sign up for ShopBack free in the Westpac app and access discounts and special offers on over 1000 brands like Amazon, The Iconic and eBay. Bonus cashback is also available on certain purchases.
Fraud protection. This card has Westpac’s Added Online Security and Fraud Money Back Guarantee.
What’s not so great
Since this is a simple card there isn’t much to nitpick. But, I’ll give it a go.
First, the 2% balance transfer fee is a bummer. But, between credit card brands the fee can vary between 0% to 3%, so this is mid-range. That means on a $1000 transfer you’ll pay $20, on $5000 you’ll pay $100. It likely works out better than paying the average daily interest rate on a normal credit card.
Remember the balance transfer offer isn’t available if you’re a current Westpac customer.
Who suits the Westpac Low Rate card?
This card suits those looking for a low-cost emergency fund card, a first-time card, or a way to pay less interest on things you buy.
The balance transfer makes it a brilliant tool for those wanting to consolidate debt from other cards and pay it off interest-free.
User reviews
Rates and fees
Interest rates
Purchase rate 13.74% p.a.
Cash advance rate 21.99% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 24 months
Balance transfer revert rate 21.99% 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
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 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.
Mastercard is a registered trademark, and the circles design and tap & go are trademarks of Mastercard International Incorporated.
Key features
- 0% p.a. on balance transfers for the first 24 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 CreditCard.com.au, with 9 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.
Ask a question345 questions (showing the latest 10 Q&As)
I'm planning an overseas trip does this card have travel insurance?
Hi Carolyn, unfortunately, the Westpac Low Rate Credit Card does not offer travel insurance. If you're looking for a card that includes travel insurance, you can check out our comparison of of Credit Cards with Travel Insurance. Thanks!
Does this card have the ability for cash withdraw access? How much is the maximum cash withdraw access
Hi Beth, If you're asking about cash advance—yes, you can make a cash advance with the Westpac Low Rate Credit Card. The maximum amount you can withdraw will depend on your available credit limit. Also, keep in mind with cash advances that they will start to accrue a higher interest rate from the moment the cash leaves your account. There’s also no interest free days on cash advances. Thanks!
Is there any good cc that I can get travel insurance in my package with low annual fees. And transfers.
Hi Jack, there's a range of credit cards that offer complimentary travel insurance. You can sort by the annual fee column to find one that might suit your needs.
Hi Pauline I am a 64 year old travel agent who does not have a credit card. I am finding that whenever l go away, some hotels ask for a cc and when l mention l don't have one, it all becomes too hard. I was even told l could not stay at one l had booked for a conference l was to attend for work, my BDM had to offer up her card, very embarrassing and that was at the Gold Coast. I am looking at the low cost Westpac card but am very nervous about applying. I don't want to be pay astronomical fees as l only get paid commission. Is this card ok for me? Thankyou Jo
Hi Jo, thank you for your detailed question and I can totally understand where you’re coming from. This Westpac is a low-cost and relatively low interest credit card and provided you pay back any outstanding amounts you won’t get slugged with interest. I’ve got a guide on how you can minimise interest with lower interest rate credit cards for you to compare. If you’re worried about interest piling up, you could opt for a debit card. These function in a similar way to credit cards, but you get to use your own money. They’re also usually accepted where credit cards are too. Hope that this has helped!!
If I balance transfer to this credit card, can I pay the balance off before sooner than 26 months and is there additional fees for this.
Hi Kelly, there’s not usually fees associated with this, but as always it's best to confirm directly with Westpac. You can give them a call at 132 032 or use their live chat function. Thanks!
Creditcard.com.au Visitor
23 September 2016Good
Recommends this cardCreditcard.com.au Visitor
20 January 2016Good 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 cardRhonda Townsend
28 January 2013Thereâ??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 cardFrances Green
28 January 2013I 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