Westpac 55 Day Platinum Credit Card – Details & Application

Information verified correct on December 9th, 2016
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A platinum card that lets you enjoy 0% p.a. for 16 months on balance transfers and no annual fee for the first year.

The Westpac 55 Day Platinum is an innovative platinum credit card offered by Westpac. This card combines the benefits of a platinum credit card with low interest rates, a balance transfer option and a long interest-free period.

Product NameWestpac 55 Day Platinum Credit Card
Balance transfer rate (p.a.)0% p.a. for 16 months
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.)1% p.a. for 12 months (reverts to 19.84% p.a.)
Offer end date30 January 2017
Annual fee$0 p.a. annual fee for the first year ($90 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.
$6,000
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.
$50,000
Minimum Monthly Repayment2% or $10, whichever is greater
Minimum Income$30,000
Card TypeVisa
Late Payment Fee$9
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 InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$30,000
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.
$6,000
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.
$50,000
Annual Fee$0 p.a. annual fee for the first year ($90 p.a. thereafter)
Minimum Repayment2% or $10, whichever is greater
Late Payment Fee$9
Over Limit Fee$0
Cash Advance Fee2% of the value of the transaction or a minimum charge of $2.50 will apply
Overseas Cash Advance Fee2%
Overseas Emergency Replacement$0
Overseas ATM Balance check$5
Overseas ATM Withdrawal Fee$5
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
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Take advantage of the annual fee waiver for the first year offer by applying and getting approved on or before 30 January 2017.
  • Low balance transfer of 0% p.a. for 16 months
  • Introductory purchase rate offer of 1% p.a. for 12 months
  • $0 annual fee for the first year if you apply by 30 January 2017

Cons

  • There is no rewards program included for this account.

Westpac 55 Day Platinum Credit Card review

This platinum card offering from Westpac combines some of the exclusive features of a high-end card with the savings opportunities usually afforded to you from cards further down the line. Cardholders can enjoy complimentary insurance covers and up to 55 days interest-free as well as a purchase rate offer, low balance transfer rate and no annual fee. For some cardholders, almost every box is ticked.

Benefits of the Westpac 55 Day Platinum Credit Card

  • Annual fee waiver. The first year the annual fee is $0. In subsequent years, you can avoid paying the annual fee if your annual spend is $10,000 or more.
  • Balance transfer offer. If you have a credit card with a higher interest rate than the Westpac’s 55 Day Platinum card’s interest rate, you can transfer your remaining balance to this card and take advantage of the lower interest rate. This will allow you save money while cutting down on the number of repayments you make each billing cycle. Currently, Westpac offers a 0% p.a. interest rate on balance transfers for 16 months.
  • Complimentary insurances. Along with the platinum credit card features you’ll get with this offer you’ll also get complimentary insurance covers. The overseas travel insurance covers trips as long as 16 months and will cover things like medical expenses, property and document damage or loss, liability cover, rental vehicle coverage, and more. You’ll also get transit accident insurance coverage which can help if you’re injured or worse while travelling outside of Australia on a bus, plane, ferry, or train. There is also purchase protection and extended warranty insurance available with this credit card.

Features of the Westpac 55 Day Platinum credit card

  • Competitive rates and fees. You will pay a variable interest fee of 19.84% p.a. on purchases and a variable rate of 21.29% p.a. on cash advances. You’ll also get special offers that can waive the annual fee every year.
  • Balance transfer offer. A balance transfer allows you to take the balance of an already established credit card that may have a higher interest rate and move it over to this credit card. This will allow you to consolidate your debt and pay off the balance through the Westpac interest rate instead of the other higher interest rate. This saves you money in the long run.
  • Interest-free days. As the name of the credit card states you’ll get up to 55 days of interest-free purchases with this card. This means that on these designated days you can freely make purchases without having to worry about paying the 19.84% p.a. interest rate on those purchases. Keep in mind this is only available when you pay off the balance on the card by a designated due date.
  • Security features. Your platinum credit card will have a microchip embedded in it for security purposes. You’ll also be able to take advantage of Westpac’s Cardshield program that defends against fraudulent activity. If you register your card with Verified by Visa you’ll get additional security when you shop online thanks to the Westpac Added Online Security service. There is also a fraud money back guarantee to further protect you against credit card fraud.
  • Annual fee. This card comes with a $0 annual fee for the first year reverting to a standard fee of $90. $0 annual fee in subsequent years when you spend $10,000 or more on purchases in each 12 months from the anniversary date of the first year’s annual fee waiver.

Considerations on applying for a Westpac 55 Day Platinum card

Overall, the Westpac 55 Day Platinum card offers a great blend of low costs alongside complimentary benefits. However, this card may not be suitable for people who have a lot of credit card debt and are trying to pay it off. The card offers a $0 annual fee for the first year, $90 thereafter. $0 annual fee in subsequent years when you spend $10,000 or more on purchases in each 12 months from the anniversary date of the first year’s annual fee waiver. People who overuse credit cards might be tempted to overspend in order to redeem the annual fee. On the other hand, if you tend to use credit cards responsibly, this card might be suitable for you — you'll receive the perks of a platinum card and won't have to worry about high interest rates or fees.

How to apply for the Westpac 55 Day Platinum Credit Card

Before you apply for the Westpac 55 Day Platinum credit card through the online application, you should make sure that you meet the eligibility requirements for the credit card.

Eligibility criteria

  • Age and residency requirements. In order to apply for this credit card you have to be at least 18 years of age and be a permanent resident of Australia with a valid Australian address.
  • Income and credit history. Since this is a platinum credit card Westpac requires you to have a minimum annual income of $30,000 along with a good credit history. This will help Westpac determine if you can hold up your end of the contract and make your repayments on time.

Once you determine your eligibility status you can begin the application process. The application process takes about 20 minutes, but you can get a response in as little as 60 seconds. To make the process smoother it is recommended that you gather up the necessary paperwork ahead of time.

Required documents

    • Identification information. In order to verify your identity you’ll need your valid Australian driver’s license number or your passport or Medicare card.
    • Income information. To prove that you meet the income requirements, you’ll also need proof of your income in the form of payslips or similar financial documents that show you monthly income (after tax). You will also need your employer’s information and details of your financial assets and liabilities.

Before applying for the Westpac 55 Day Platinum card, or any other credit card, you should always compare available offers. This will ensure that you get the most appropriate deal for your current financial situation. Be sure to compare things like rates and fees, features, and credit limits.

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271 Responses to Westpac 55 Day Platinum Credit Card – Details & Application

  1. Default Gravatar
    Eche | January 22, 2016

    I just got the card and I gave a call to Westpac to confirm the 12 months interest rate and they told me that it is only for 3 months, I had to send the confirmation email showing promotional interest rate to prove it. It was a very exclusive promotion and some of the staff are not aware but finally everything good :)

    My question is do I need to pay 2% back by due date to avoid interest rate? or I don’t need to do any payment for the first 12 months.

    Thank you

    • Staff
      Debbie | January 25, 2016

      Hi Eche,

      Thanks for your question.

      You may need to pay the minimum payment due, including your past due amount if there’s any to avoid any interest and late fee charges.

      To understand more about credit card repayments, please refer to this guide.

      I hope this helps.

      Cheers,
      Debbie

  2. Default Gravatar
    Shil | January 6, 2016

    Hello,

    Could you please help me with my query, thank you.

    Just wanted to clarify a few things:
    1. For the interest free period of 1 year, as long as the 2 % payment is made by the due date , there won’t be any penalties ?
    2. The 55 interest free period kicks in after the 1st year and one can have that many days of interest free as long as the closing balance is paid off, right ??
    3. Once the full owing balance on the card is paid, is it possible to close the credit card ? Will there be any charges involved ??

    Thank you for your time

    • Staff
      Sally | January 6, 2016

      Hi Shil,

      Thanks for your question.

      So long as you meet the minimum repayments, you shouldn’t be charged any penalty fees. Please note that the card does come with other fees though (such as cash advance fees and currency conversion fees), so the fees you’ll be charged in the first year will depend on how you use the card.

      Yes, you can take advantage of up to 55 interest-free days on purchases so long as you repay your balance in full. If you’ve repaid your entire balance on the card, you should have no issue closing the card.

      I hope this has helped.

      Cheers,

      Sally

  3. Default Gravatar
    ellie.thompson@live.com.au | November 26, 2015

    Hi, just wondering were we apply on this website? Or do we click the link to apply on Westpacs website?

    • Staff
      Sally | November 26, 2015

      Hi Ellie,

      Thanks for your question.

      If you’ve compared your options and wish to apply for the Westpac 55 Day Platinum credit card, you can click on the green ‘Go to Site’ button located on the right-hand side of the page to be directed to the first step of a secure online application. Please keep in mind that the exclusive offers presented on this page are only available to applicants who apply for the Westpac 55 Day Platinum credit card through finder.com.au before 17 January 2016.

      I hope this has helped.

      Cheers,

      Sally

    • Default Gravatar
      Shil | January 6, 2016

      Hello,

      Could you please tell me how to apply through credit card finder as the links on the right hand side direct me to westpac website as I want to take advantage of the features and benefits of the card advertised on credit card finder.

      Please advise, thank you

    • Staff
      Sally | January 6, 2016

      Hi Shil,

      Thanks for your question.

      If you’ve compared your options and would like to apply for the Westpac 55 Day Platinum card, you can click on the green ‘Go to Site’ button located on the right-hand side of the review page to begin your application. This will link you through to the application for the exclusive offer with finder and Westpac that is advertised on the review page.

      While the application will still be processed securely by Westpac, you’ll only be able to take advantage of the exclusive offer available through finder if you begin your application by clicking the ‘Go to Site’ button.

      I hope this has helped.

      Cheers,

      Sally

  4. Default Gravatar
    Morgan | October 15, 2015

    Hi, Is there a minimum time limit in which you need to keep the card or is it possible to cancel it after, say, 6 months?

    • Staff
      Jonathan | October 16, 2015

      Hi Morgan, thanks for your inquiry!

      There is no minimum term required for this credit card so you will be able to cancel it after 6 months.

      Cheers,

      Jonathan

  5. Default Gravatar
    d | October 1, 2015

    if i am already a westpac customer can i still apply for this 0% purchases card?

    • Staff
      Jonathan | October 6, 2015

      Hi d, thanks for your inquiry!

      This offer is only available to new customers. You can compare more 0% purchase credit cards on this page.

      Cheers,

      Jonathan

  6. Default Gravatar
    Alex | June 29, 2015

    By using the card, you can make purchases and do not have to pay interest for 12 months, is that correct?

    • Staff
      Sally | June 30, 2015

      Hi Alex,

      Yes, there is an introductory offer of 0% p.a. on eligible purchases for 12 months.

      If you have compared your options and want to apply, you can apply through this page.

      Thanks,

      Sally

  7. Default Gravatar
    Ra | June 17, 2015

    Can I use this card to purchase a car at 0% interest for 12 month and do minimum payments every month and pay off the credit amount end of 12th month?

    I believe there would be a 2% surcharge for amount exceeding $2000?

    • Staff
      Jonathan | June 17, 2015

      Hi Ra, thanks for your inquiry!

      The minimum payment will be equal to 2% of the closing balance (rounded up to the nearest dollar) or $10, whichever is the greater. There is no additional surcharge applicable for exceeding $2000.

      Cheers,

      Jonathan

  8. Default Gravatar
    rosemary | June 15, 2015

    I am a self funded retiree and would like to apply for the Westpac platinum card as I do travel a lot and the travel insurance is attractive to me, what proof of income am I required to show?

    • Staff
      Jonathan | June 16, 2015

      Hi Rosemary, thanks for your inquiry!

      The proof of your income required for this card are payslips or similar financial documents that show you monthly income (after tax). You will also need your employer’s information and details of your financial assets and liabilities.

      Cheers,

      Jonathan

  9. Default Gravatar
    JA | June 12, 2015

    Can I pay bills via internet banking and still receive interest free purchases of 0% p.a. for over 12 months or would that be considered a cash advance?

    • Staff
      Jonathan | June 15, 2015

      Hi JA, thanks for your inquiry!

      Generally bills are treated as cash advance transactions, however this depends on the merchant’s agreement with the bank on how the transaction is billed. It is best to contact the merchant whom the transaction is taking place with to guarantee interest free purchases.

      Cheers,

      Jonathan

  10. Default Gravatar
    sara | May 26, 2015

    How long is the expiry period on the platinum visa card?

    • Staff
      Jonathan | May 27, 2015

      Hi Sara, thanks for your inquiry!

      Expiry periods on Visa cards are generally 4 years depending on the lender and will be renewed by a new card being sent to the owner’s nominated address after the expiry period.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated December 9th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
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
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Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
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* 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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