Westpac 55 Day Credit Card – Review

Pay $0 annual fee for the first year and choose either a 0% p.a. balance transfer for 18 months offer or $200 cashback.

The Westpac 55 Day Credit Card is a no-frills credit card that can be used anywhere Visa is accepted internationally. You don’t have to pay any annual fees for the first year and in subsequent years when you meet the annual spend requirement.

You can use this card to transfer balances from up to 3 non-Westpac existing cards and make use of its special 0% p.a. for 18 months on balance transfers. Alternatively, you can choose the $200 cashback offer.

Product NameWestpac 55 Day credit card
Balance transfer rate (p.a.)0% p.a. for 18 months with 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (19.84% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)19.84% p.a.
Offer end date26 October 2017
Annual fee$0 p.a. annual fee for the first year ($30 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.29% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$25,000
Minimum Monthly Repayment2% or $10, whichever is greater
Card TypeVisa
Late Payment Fee$15
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$25,000
Annual Fee$0 p.a. annual fee for the first year ($30 p.a. thereafter)
Minimum Repayment2% or $10, whichever is greater
Late Payment Fee$15
Cash Advance Fee2% of the value of the transaction or a minimum charge of $2.50 will apply
Overseas Cash Advance Fee2%
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$0
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • New customers can enjoy an annual fee waiver for the first year if they apply by 26 October 2017.
  • A low balance transfer offer of 0% p.a. for 18 months or $200 cashback
  • Up to 55 interest-free days on purchases

Cons

  • This card does not offer a rewards program or any premium perks.

Westpac 55 Day credit card review

If you’re looking for a no-frills credit card, this Visa card could be an option. The card offers 0% p.a. interest on transferred balances for the first 18 months and if you apply during the ongoing promotional period, you will receive an annual fee waiver for the first year. If you are not looking for a balance transfer, you can receive $200 cashback on $400 spend in the first 90 days from card approval.

Additional savings can also come in the form of up to 55 interest-free days on purchases provided you pay the closing balance completely by the statement due date each month.

Benefits of the Westpac 55 Day credit card

  • Balance transfer offer option. If you apply for a new card and request a balance transfer during application, you can receive a 0% p.a. balance transfer rate for the first 18 months (with a 2% BT fee). Any outstanding balance at the end of the 18-month period will attract the card’s purchase rate. Not available in conjunction with the cashback offer. Offer ends 26 October 2017.
  • Cashback offer option. Receive $200 cashback after you spend $400 within 90 days of card approval. Not available in conjunction with the promotional balance transfer offer. Offer ends 26 October 2017.
  • Annual fee waiver. This card has a standard annual fee of $30, but charges an annual fee of $0 in the first year if you apply by 26 October 2017 and get approved. After the first year, annual fees for subsequent years are waived if the minimum $5,000 yearly spend is met. This offer is available on new card applications.
  • Contactless technology. The Westpac 55 Day credit card is Visa payWave enabled, so you can use your card to make contactless payments for purchases less than $100 where the technology is supported.
  • Use globally. Visa credit cards find acceptance in most countries around the world, so you can use this card just about anywhere you go, including EFTPOS terminals and ATMs displaying the Visa logo.
  • Samsung Pay. You can link your card with Samsung Pay to make contactless payments with your Samsung device at the checkout.

Features of the Westpac 55 Day credit card

  • Interest-free days. If you pay your account’s closing balance completely before each due date, you can make use up to 55 interest-free days on purchases.
  • Credit limit. The minimum credit limit of this Visa credit card is $1,000 and the maximum depends on your existing financial situation and ability to repay.
  • Repayment methods. You can make payments through a nominated account using Westpac ATMs, Westpac’s online and phone banking platforms, Card Autopay facility, via BPAY, at any Westpac branch, and you can send cheques via mail.
  • Additional cardholders. You can request for 1 free additional cardholder at $0 each for any nominated individual who is over 16 years of age, and you remain liable for all transactions made using this card.
  • Card security. Cardshield is in place to provide protection against fraudulent use of your card, and the card’s embedded microchip offers more protection than magnetic strips. Falcon Fraud Protection monitors your card activity 24/7, and Verified by Visa provides additional security in the online world.

How to apply for the Westpac 55 Day credit card

You can apply for the Westpac 55 Day credit card by completing the online application form. Before you do, establish if you meet the following.

Eligibility criteria

  • You are a permanent resident of Australia.
  • You are over 18 years old.
  • You don’t have poor creditworthiness.

Required documents

You can complete the online application form in around 10 minutes, and even quicker if you’re an existing Westpac customer. To complete the application as a new customer, you have to provide the following information.

  • Your complete name, date of birth, and driver’s license number (if you have one)
  • These include your email address, residential address, and phone number
  • Employment status along with your employer’s contact details
  • Details about your income such as yearly earnings
  • Information about all existing debts like loans, credit cards, and overdrafts

This card could be an option if you’re looking for a basic card with a balance transfer offer. However, given there are a number of other cards with similar offers, you're better off to compare a few options before applying.

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6 Responses

  1. Default Gravatar
    lindaOctober 6, 2016

    I have an outstanding debt with an aussie credit card. the limit was 1,500.00. I have been paying this debt off for over 4yrs and not getting anywhere. My credit was suspended on the card years ago, I have just been paying off the debt. I think I now owe around 1,000.00. Is it possible to transfer this debt to your company???

    • Staff
      AnndyOctober 7, 2016Staff

      Hi Linda,

      Thanks for your question.

      Please note that we are finder.com.au, a financial comparison and information website, not Westpac.

      To apply for Westpac 55, you need to meet the following eligibility criteria:

      -You are a permanent resident of Australia
      -You are over 18 years old
      -You don’t have poor creditworthiness

      You can also check other balance transfer credit cards on this page.

      Please note that rejected credit card applications can have a negative impact on your credit file, so before you apply, be sure to check the eligibility criteria and the requirements.

      Cheers,
      Anndy

  2. Default Gravatar
    IanJuly 13, 2016

    Hi, can I do a balance transfer from a St George credit card onto a Westpac 55 day credit card or is St George and other banks affiliated to Westpac excluded from the offer? Regards

    • Staff
      MayJuly 13, 2016Staff

      Hi Ian,

      Thanks for your question.

      Unfortunately, it’s not possible to conduct a balance transfer between Westpac and St. George credit cards. On this page, you can find which financial institution that you’re able to conduct a balance transfer to and from.

      In the meantime, you may like to compare your balance transfer credit card options here – that is a transfer of balance from your St. George card to a non-Westpac credit card. Please make sure to review the criteria and requirements before you submit your application.

      I hope this is helpful.

      Cheers,
      May

  3. Default Gravatar
    April 14, 2016

    What other interest (transaction) charges are applied and at what rate?

    • Staff
      MayApril 14, 2016Staff

      Hi Don,

      Thanks for your question.

      The fees charged by Westpac 55 Day Credit Card were outlined in the table above particularly on the ‘fees and repayments’ section.

      Hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated July 21st, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - Exclusive Offer
Apply by 31 July 2017 to earn bonus Velocity Points for the first three months and a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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