Westpac Low Rate Card
- 0% p.a. for 24 months on balance transfers
$0 annual fee for the first year
Offer ends 23 October 2018
Eligibility criteria, terms and conditions, fees and charges apply
Save on credit card costs with 0% p.a. on balance transfers for 24 months and a $0 first year annual fee.
The Westpac Low Rate credit card is designed to provide the flexibility of a credit card account without high costs. If you apply for this card by 23 October 2018, you can enjoy 0% p.a. on balance transfers for 24 months (with a one-time 1% balance transfer fee).
Designed for the no-frills cardholder, in addition to the ability to consolidate existing debt, this card charges a low 13.49% p.a. rate on purchases and offers up to 55 interest-free days when you don't carry a balance transfer.
| Product Name | Westpac Low Rate Card |
|---|---|
| Balance transfer rate (p.a.) | 0% p.a. for 24 months with 1% balance transfer fee |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Cash Advance Rate (19.49% p.a.) |
| Balance Transfer Limit | 80% of available credit limit |
| Purchase rate (p.a.) | 13.49% p.a. |
| Offer end date | 23 October 2018 |
| Annual fee | $0 p.a. annual fee for the first year ($59 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.) | 19.49% 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 |
| Card Type | Visa |
| 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 Insurance | No |
| Minimum Income | $15,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available To Temporary Residents | Yes - Conditions apply |
| Joint Application | No |
| Annual fee | $0 p.a. annual fee for the first year ($59 p.a. thereafter) |
|---|---|
| Minimum Monthly Repayment | 2% or $10, whichever is greater |
| Late Payment Fee | $15 |
| Cash Advance Fee | 2% of the transaction amount or $2.50 |
| Overseas Cash Advance Fee | 2% |
| Foreign Currency Conversion Fee 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% |
| Gambling Transactions Allowed | Yes |
| Additional Cardholder Fee | $0 |
| Number of Additional Cardholders | 1 |
Pros
- Take advantage of a promotional offer of 0% p.a. for 24 months on balance transfers.
- Pay a $0 annual fee for the first year.
- Receive up to 55 days interest-free on purchases.
- You can request for an additional cardholder at no extra cost.
Cons
- This card has no rewards program.
- A one-time 1% balance transfer fee applies.
- Complimentary insurance covers are not offered on this card.
Benefits of the Westpac Low Rate credit card
- 0% balance transfer offer. You can consolidate other card debts by transferring up to 3 non-Westpac balances to this card and save with 0% p.a. interest for the first 24 months (with a one-time 1% BT fee). At the end of the introductory period, any remaining balance will revert to the variable cash advance rate.
- First year annual fee waiver. This card charges $0 annual fee for the first year ($59 p.a. thereafter).
- Low variable purchase rate. This card has a standard variable purchase rate of 13.49% p.a.
- Additional cardholders. Get 1 additional cardholder for $0 p.a.
- Contactless technology. The Visa card can be used for Visa payWave terminals with contactless technology. You can also link your Westpac credit card with Samsung Pay or Google Pay to make contactless payments with your smartphone. Plus, you can use the Westpac mobile banking app to make contactless payments with your Samsung smartphone.
Features of the Westpac Low Rate credit card
- Annual fee. Outside of any promotion, this card charges an annual fee of $59 p.a.
- Cash advances. If you use your card to make a cash advance, such as an ATM withdrawal, you'll collect an interest rate of 19.49% p.a. and will be charged a fee of 2% of the transaction amount or $2.50.
- Currency conversion rate. If you use your card to make a foreign transaction overseas or online, you'll collect an interest rate of 3%.
- Interest-free days. If you pay your account balance in full by the due date on each statement, you can enjoy up to 55 days interest-free on your purchases. Note that interest-free days are not available for cash advance transactions or if you carry debt from a balance transfer.
How to apply for the Westpac Low Rate credit card
If you’ve compared your options and decided that the Westpac Low Rate credit card is right for you, you can apply for this card by completing the online application form. Before you apply, make sure you comply with the eligibility requirements and have the necessary information and documents.
Eligibility criteria
- Minimum age limit. You must be at least 18 years of age to apply.
- Residency. Westpac only approves applications from permanent Australian residents and Australian citizens.
Required documents
- Proof of identity. You'll need to provide some form of identification such as Australian driver's licence, Medicare card or Australian passport.
- Financial details. The credit card provider will also require your personal and financial details to assess your credit rating and source of income. If you receive government support and payments, you'll need to provide your Centrelink Pension Card details.
- Employment details. You'll need to provide details about your employment including your annual income and your employer's details.
The Westpac Low Rate credit card is designed to ease the burden that comes with credit repayments. As it's not the only low rate card on the market, compare similar credit cards to ensure you're applying for the right card.
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Am I able to balance transfer a HSBC credit card debt onto this card? I do have an everyday account with westpac.
Hi Tash,
Thank you for getting in touch with finder.
Yes, you may request to do a balance transfer from your HSBC credit card debt onto this Westpac Low Rate Credit Card. Please note that the amount you could do your balance transfer with must be 80% of available credit limit of your new Westpac Low Rate Credit Card.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
I am interested to apply for this Westpac Low Rate Credit card for balance transfer purposed. I would like to do a balance transfer for my non-Westpac Credit Card account into this Westpac Low Rate Credit Card. I saw this offer on your website today, 17/07/18. My question is: Am I eligible to apply for this offer?I am an existing Westpac customer, who has a Westpac Credit Card.
Hello Nat,
Thank you for your comment.
As per checking, the promo of this card for BT is not available to existing Westpac customers. New customers should be those who have not held Westpac card before (St.George, Bank of Melbourne, BankSA and RAMS).
Regards,
Jhezelyn
I would like to apply for a new card?
Hi Paula Rae,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You can apply for this card by completing the online application form. Before you apply, make sure you comply with the eligibility requirements and have the necessary information and documents.
Eligibility criteria
– Minimum age limit. You must be at least 18 years of age to apply.
– Residency. Westpac only approves applications from permanent Australian residents and Australian citizens.
– Good credit history. You’ll need to have a healthy credit history with no signs of recent signs of bankruptcy or a low credit score to receive approval.
– Minimum income requirement. You’ll need to meet the minimum income requirements set by the Westpac.
Required documents
– Proof of identity. You’ll need to provide some form of identification such as Australian driver’s licence, Medicare card or Australian passport.
– Financial details. The credit card provider will also require your personal and financial details to assess your credit rating and source of income. If you receive government support and payments, you’ll need to provide your Centrelink Pension Card details.
– Employment details. You’ll need to provide details about your employment including your annual income and your employer’s details.
I hope this helps.
Cheers,
Danielle
Do the 6 months interest-free on purchases apply to purchases made overseas? I got this card for travel on the basis it would be interest-free for 6 months but have been told that the interest-free period may only apply to domestic purchases?
Hi Deniz,
Thanks for your question.
Yes, the interest-free period applies to overseas purchases as well, provided you aren’t processing cash advances or balance transfers. Some of the transactions treated as cash advance include direct cash withdrawals, receiving from a merchant a cash substitute and paying bills through a third party where the merchant does not accept credit card payments. You may refer the credit card guide that I send to your email for more information on this card’s conditions of use.
Cheers,
Liezl
can someone on a mother’s pension from centrelink be approved on this type of credit card
Hi Talia,
Thanks for your question.
If you’re on a pension, what you need to provide will depend on your financial situation. The most basic requirement to apply for a Westpac credit card will be your 2 most recent Centrelink statement.
You may want to get in touch with Westpac to check the other requirements and criteria for your situation.
Cheers,
Anndy
Hi! I’ve just applied for a low rate credit card with Westpac and I would like to do a balance transfer. Is this offer still available? I still haven’t got my new card yet. I’m a new customer with Westpac.
Hi Shimona,
Thanks for your question.
Yes, the 0% p.a. for 16 months balance transfer offer is still available for new cardholders and is valid until 30 January 2017.
Cheers,
Ysa
What amount am I able to transfer ?
Hi Andrew,
Thanks for your question.
With Westpac Low Rate Credit Card, you can balance transfer up to 95% of your available credit limit.
Cheers,
Anndy
Hi there,
I am Westpac existing customer and currently a Westpac holding a 55 days Platinum credit card with balance transfer. Just wondering will I still eligible for a balance transfer of this Low Rate Card?
Hi Steven,
Thanks for your question.
Unfortunately, the 0% for 18 months balance transfer offer is only available to new approved Westpac customers.
Since you are currently holding a 55 Day Platinum credit card, you may not be eligible for this offer.
Should you wish to check for other credit cards with the same feature, please refer to this comparison guide on balance transfer credit cards.
I hope this helps.
Cheers,
Ysa
I am not a new customer. l have west pack c/c my card is no outstanding balance. can I do 18 month balance transfer from same card or do I need apply new card?
Hi MP,
Thanks for your inquiry.
A credit card balance transfer is essentially the process where you transfer the balance (any money you owe on your current credit card) to a new credit card with another credit card institution. Now if you do not have any outstanding balance on your current Westpac credit card, a balance transfer may not be necessary.
Nonetheless, if you intend to have another credit card in addition to your Westpac credit card, then you can apply for a new card by reviewing the criteria and requirements before you submit any application.
If you wish to apply for this Westpac Low Rate credit card, you may do so by clicking the ‘Go to site’ button to head over to Westpac’s website. Just be mindful though that you can’t do a balance transfer from your current card to this account.
Cheers,
May
We have used a westpac Credit card for many years $10500 limit. Since my husband went into a Nursing home last year (Dementia) I am having difficulty with repayments due to the interest rates. Would it be possible to transfer to a Low Rate Credit Card or have you any other suggestion please
Hi Norma,
Thanks for your inquiry.
Unfortunately, it’s not possible to transfer your balance from your current Westpac credit card to a Low Rate credit card that is also issued by Westpac. However, you can transfer your balance to a non-Westpac credit card and you can compare your options on this page.
Just be mindful though that the total amount you can transfer onto the new credit card should not exceed your approved credit limit.
Please make sure to review the criteria and requirements before you submit your application or yet get in touch with the bank to discuss your chances of approval. This way, you can avoid enquiries on your credit file and you’ll be able to keep it healthy.
I hope this is helpful.
Cheers,
May