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Westpac Low Rate Credit Card
Offers a 0% interest rate for a long 28 months on balance transfers, but charges a 1% fee to do so.
When you apply by 30 November 2021, you'll get a $0 annual fee for the first year and 0% p.a. on balance transfers for the first 28 months. However, unlike some of the other offers on the market, you'll have to pay a 1% balance transfer fee to take advantage.
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0% p.a.
Balance transfer rate
for 28 months with 1% balance transfer fee
13.74% p.a.
Purchase rate
$0 p.a.
Annual fee
for the first year ($59 p.a. thereafter)
55 days
Interest free period
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Details
| Product Name | Westpac Low Rate Card |
|---|---|
| Balance transfer rate | 0% p.a. for 28 months with 1% balance transfer fee |
| Balance transfer revert rate | Cash Advance Rate (21.49% p.a.) |
| Balance transfer limit | 80% of available limit |
| Purchase rate | 13.74% p.a. |
| Annual fee | $0 annual fee for the first year ($59 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% |
| Minimum income | $30,000 |
|---|---|
| Available to temporary residents | No |
| Joint application | No |
Pros
- $0 annual fee for the first year
- 0% p.a. for up to 28 months on balance transfers
- Low 13.74% p.a. interest rate on purchases
Cons
- Balance transfer reverts to the high cash advance rate of 21.49% p.a. after the introductory period
- Charges a one-time 1% balance transfer fee
| Bonus points | N/A |
|---|
| Annual fee | $0 annual fee for the first year ($59 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 |
Review by
Sally McMullen
sally.mcmullen@finder.com.auSally 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.
