Westpac Low Fee Credit Card

Last updated: Aug 13, 2020

Save with 0% interest on purchases for the first 15 months and a $0 annual fee for the first year.

Apply for the Westpac Low Fee credit card online by 07 September 2021 and you'll get 0% p.a. on purchases for the first 15 months. If you have an existing debt, you can request to move it to this card and pay 6.99% p.a. on the balance transfer for 12 months with no balance transfer fee. Plus, you don't have to pay any annual fee for the first year or in subsequent years when you meet the annual spend requirement.

6.99% p.a.

Balance transfer rate

for 12 months

0% p.a.

Purchase rate

for the first 15 months (reverts to 20.09% p.a.)

$0 p.a.

Annual fee

for the first year ($30 p.a. thereafter)

55 days

Interest free period

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Details

Product Name	Westpac Low Fee Card
Balance transfer rate	6.99% p.a. for 12 months
Balance transfer revert rate	Cash Advance Rate (21.49% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	0% p.a. for 15 months, reverts to 20.09% p.a.
Annual fee	$0 annual fee for the first year ($30 p.a. thereafter)
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.49% p.a.
Min credit limit	$500
Max credit limit	$25,000
Card type	Mastercard
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

0% p.a. interest on purchases for 15 months
$0 annual fee for the first year and in the following years when you spend $5,000 on purchases in each 12 months from the date of the first transaction on your account
6.99% p.a. on balance transfers for 12 months

Cons

Charges a 3% foreign transaction fee

Bonus points	N/A

Annual fee	$0 annual fee for the first year ($30 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
Overseas cash advance fee	2%
Additional cardholder fee	$0
Number of additional cardholders	1

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The Westpac Low Fee is a no-frills credit card designed to help you save money. If you have big ticket items on your shopping list, the 0% purchase rate offer gives you a way to save on interest charges when you pay with this card. Although many credit cards offer no annual fee in the first year, the Westpac Low Fee credit card is unique because it also offers you this $0 fee when you meet the spend requirement each year. The standard annual fee of $30 p.a. is also competitive when compared to some other cards on the market.

Although you’ll save on fees, the Westpac Low Fee credit card charges a 20.09% p.a. purchase interest rate outside of any promotions. This is a relatively high interest rate, so the card is best suited to people who pay their balance in full each month and can take advantage of the interest-free days.

How to apply

You can apply for the Westpac Low Fee credit card in 10 minutes and receive a response in 60 seconds.

Eligibility criteria

Residency. You must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Eligible balance transfer debt. You can transfer from $200 up to 80% of your available credit limit from up to 3 Australian credit, charge or store cards not issued by Westpac.

Required documents

Personal documents. You'll need to provide your full name, date of birth, email address, marital status, number of dependents and contact number.
Proof of identification. This includes your Australian driver's licence, Medicare card, Australian passport or foreign tax details if applicable.
Finances. You'll have to upload income documents such as recent payslips and bank statements. You may also be asked to provide details regarding expenses and liabilities.
Employment. You'll be asked to list where you work, your role and your employer's contact information.
Balance transfer information. To transfer a balance, you'll need to provide the account numbers of the cards you'd like to transfer, the provider's biller codes and the debt amounts.

Card benefits

0% p.a. for 15 months on purchases. Apply for a new Westpac Low Fee credit card online by 07 September 2021 and you can shop interest-free for the first 15 months from card approval. Note that minimum repayments still apply during the introductory 15-month period.
Annual fee waiver. This card charges a standard annual fee of $30 p.a., but offers a $0 annual fee in the first year. After the first year, annual fees for subsequent years are waived if the minimum $5,000 yearly spend is met.

Balance transfer offer. Save on interest costs when paying off existing debt with 6.99% p.a. balance transfer offer for 12 months with no balance transfer fee. Any remaining balance after the promotional period ends is subject to the variable cash advance rate, currently 21.49% p.a.
Mobile wallets. You can link your card with Apple Pay, Samsung Pay and Google Pay to make contactless payments with your eligible smartphone or smartwatch at the checkout. Plus, you can also pay with your eligible fitness tracker with Fitbit Pay and Garmin Pay.
Card security. Cardshield and the card's microchip help protect your account from fraudulent transactions. Your account activity is also monitored 24/7 and Mastercard SecureCode offers additional security when you're shopping online.

Rates & fees

Annual fee. Outside of any promotions, this card charges a standard annual fee of $30 p.a. When you spend at least $5,000 over the course of the year, the annual fee in the subsequent year will be waived.
Purchase interest rate. This card charges a standard 20.09% p.a. interest rate on purchases.

Cash advances. If you use your card to make a cash advance (such as an ATM withdrawal), you'll immediately attract the 21.49% p.a. cash advance interest rate and will be charged a cash advance fee of 2% of the value of the transaction or a minimum charge of $2.50 (whichever is greater).
Interest-free period. You will receive up to 55 days interest-free on new purchases when you pay your monthly payment balance listed on your statement in full by the payment due date. Note that these interest-free days are separate from any longer-term interest rate promotions and the monthly payment balance excludes current balance transfers.
Credit limit. The minimum credit limit of this Mastercard credit card is $500 and the maximum depends on your financial situation and ability to repay.
Additional cardholders. You can request 1 additional cardholder at no extra cost.

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6 Comments

linda
October 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???

finder Customer Care

Dee
October 7, 2016

Hi Linda,

Thanks for your question.

Please note that we are Finder, 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 and see what options you may have.

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

Ian
July 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

finder Customer Care

May
July 13, 2016

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 credit card balance transfer criteria guide, 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 cards that may alloaw you to transfer the 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

Don
April 14, 2016

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

finder Customer Care

May
April 14, 2016

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

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