Westpac Low Rate Card
- 0% p.a. for 24 months on balance transfers
$0 annual fee for the first year
Offer ends 2 April 2019
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 2 April 2019, 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 | 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 | 2 April 2019 |
| Annual fee | $0 p.a. annual fee for the first year ($59 p.a. thereafter) |
| Interest Free Period The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date. | 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 upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. | $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 |
| 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 |
| Cash Advance Fee | 2% of the transaction amount or $2.50 |
| Overseas Cash Advance Fee | 2% |
| 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.
- Save with a $0 annual fee for the first year.
- 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% balance transfer fee) when you apply by 2 April 2019. 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 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.
Changes coming 1 March 2019
Westpac credit cards issued following applications started on or after 1 March 2019 will be Mastercard branded.
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.
Back to top
With student Visa cards, if the only income currently receiving is AuStudy is it worth the effort of applying as I don’t wish a bad credit rating?
Hi Cindy,
Thank you for getting in touch with finder.
If you consider getting a credit card with Westpac, this credit card you’re looking at has the minimum annual income requirement of $15,000 while Westpac Student Credit Card is no longer available for new applications. You may check out this page to compare credit cards for students like you. Kindly use this page as guide on applying for a credit card for the first time.
Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you. Some credit card issuers’ eligibility criteria include earning requirement of at least $15,000 per year – this can include part time work, Youth Allowance and Austudy.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
If I apply today and get accepted how long does it take to get the credit card as I leave for overseas shortly. Thanks
Hi Sasha,
Thank you for leaving a question.
If approved, it will take approximately 10 days from the day you applied to received your credit card in the mail. Hope this helps!
Cheers,
Reggie
I have an existing Ignite Visa from Westpac. Is it possible to change that card to this one (Low Rate) and then take advantage of the Balance Transfer promotion? I have found the option via online banking to request the change of cards. Just not sure how I would then go about requesting the balance transfer. TIA!
Hello Brody,
Thank you for your comment.
If you’re referring to applying for the Low Rate card and close the Ignite Visa, it’s actually possible. Just contact the issuer and have them close the old account and apply to the Low Rate card. Please refer to the guide here on how to close and cancel a credit card. Please note that balance transfer between two credit cards under the same banks is not allowed.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
I need to apply for a credit card for my daughter (18 years of age) for her to purchase petrol (which we then pout under our business related expenses). Is it possible for her to have a credit card in her name is she is only a student and now looking for part-time work or do I apply for another credit card and add her as secondary cardholder? I already have other credit cards but we have 2 people attached to these already
Hi Jen,
Thanks for reaching out. You can get her to be a secondary cardholder or you can get her a student credit card. HERE are some options you can review.
As a friendly reminder, review the eligibility criteria of the card before applying to increase chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the card.
Hope this helps! Feel free to reach out again, we’re on standby!
Cheers,
Nikki
I would like to do a balance transfer on $3,100. Did I read correctly that I can only transfer 80% of the balance – or $2,480? Would I need to lower the balance before applying for the transfer (I’ve used about 80% of the available balance)?
Hi Bryar4561,
Thank you for your comment.
The 80% which is being advised about the card is the credit limit that the bank will approve for you. So, just as an example. If you were approved on a $10,000 credit limit on the card, you could make a balance transfer of up to $8000 which is 80% of the limit. Hope this helps!
Cheers,
Reggie
I need to buy a car ASAP. I have a large enough tax check due but cannot wait until it comes through. I’d like to get a 0% or low% cash advance from a credit card, then pay it back in full with my tax cheque. What cards can help with this?
Hi Mantis3dfx,
Thanks for the inquiry and for visiting our page.
You may go to this page to check out the line up of credit cards with low cash advance rates. The lowest one on the list starts at 11.65% and up. Please do take note of the cash advance fee and annual fee when choosing the right card for you. As a friendly reminder, review the eligibility criteria of the card before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the card.
We also have a page that may allow you to purchase a car using a credit card.
To give you a quick info on this, buying a car on a credit card will rack up your points on a rewards cards. Also, this would be a faster alternative compared to applying for a car loan. However, this limits you on the type of car to purchase — you’re usually left with low cost used cars.
Hope this helps! For any other inquiries, feel free to send us a message anytime.
Kind regards,
Nikki
If you transfer a balance to this new card when applying and pay your account balance in full by the due date on each statement, do you still get the 55 interest-free days? Or, is this not available if you have completed a balance transfer upon application?
Hi Alex,
Thank you for getting in touch with finder.
If you have a balance transfer balance on this card which you processed during your online application, your credit card statement has the minimum amount to pay each month which will not incur any interest if you pay the minimum amount due, since you applied for a 0% BT offer. Basically, if you have a debt on your credit card from a balance transfer, you won’t be eligible for interest-free days on new purchases. If you want to transfer a balance and make purchases without interest, you could also consider a card with an introductory rate of 0% for purchases and balance transfers.
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
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