Westpac Low Rate Credit Card
2019 Winner
Last updated:
Save on existing credit card interest costs with 0% for 16 months on balance transfers with the Westpac Low Rate.
The Westpac Low Rate is a no-frills credit card designed to help you save on costs with a competitive balance transfer offer, low annual fee and SmartPlan instalment options.
0% p.a.
Balance transfer rate
for 16 months with no balance transfer fee
13.74% p.a.
Purchase rate
$59 p.a.
Annual fee
55 days
Interest free period
Details
| Product Name | Westpac Low Rate Card |
|---|---|
| Balance transfer rate | 0% p.a. for 16 months |
| Balance Transfer Revert Rate | Cash Advance Rate (21.49% p.a.) |
| Balance Transfer Limit | 80% of available balance |
| Purchase rate (p.a.) | 13.74% p.a. |
| Annual fee | $59 p.a. |
| Interest free period | 55 days |
| Cash advance rate (p.a.) | 21.49% p.a. |
| Min credit limit | $1,000 |
| Max credit limit | $25,000 |
| Card type | Mastercard |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| Complimentary travel insurance | No |
| Minimum Income | $15,000 |
|---|---|
| Minimum age | 18 years of age |
| Available to temporary residents | No |
| Joint application | No |
Pros
- 0% p.a. for 16 months on balance transfers with no balance transfer fee
Cons
- Balance transfer reverts to the high cash advance rate of 21.49% p.a. after the introductory period.
| Annual fee | $59 p.a. |
|---|---|
| Minimum monthly repayment | 2% of the closing balance or $10, whichever is greater |
| Late payment fee | $15 |
| Foreign currency conversion fee (Visa/Mastercard) | 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.auSally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.
