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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 June 2022, 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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Product NameWestpac Low Rate Card
Balance transfer rate p.a.0% for 28 months with 1% balance transfer fee
Balance transfer revert rateCash Advance Rate (21.49% p.a.)
Balance transfer limit80% of available limit
Purchase rate p.a.13.74%
Annual fee$0 for the first year ($59 thereafter)
Interest-free periodUp to 55 days on purchases
Cash advance rate21.49% p.a.
Min credit limit$500
Max credit limit$25,000
Card typeMastercard
Foreign currency conversion fee3%
Minimum income$30,000
Available to temporary residentsNo
Joint applicationNo


  • $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


  • 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 pointsN/A
Annual fee$0 for the first year ($59 thereafter)
Minimum monthly repayment2% of the closing balance or $10, whichever is greater
Late payment fee$15
Foreign currency conversion fee3%
Cash advance fee3%
Overseas cash advance fee2%
Additional cardholder fee$0
Number of additional cardholders1

Review by

Sally 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.

Expert review

If you want to pay off your existing credit card, the current offer on the Westpac Low Rate can help you save with its long-term balance transfer offer. It charges a 1% balance transfer fee, but the 28-month introductory period means you’ll have lots of breathing room from your interest payments. You'll want to pay off the full amount in that time before the 21.49% p.a. revert rate kicks in.

The $0 first year annual fee offer also means you’ll save on other card costs when you first get it. However, after the first year the annual fee jumps to $59.

How to apply

You can apply for the Westpac Low Rate credit card online in 10 minutes and receive a response in 60 seconds. Check that you meet the eligibility criteria and have the necessary information to complete the application first.

Eligibility criteria

  • Eligible balance transfer debt. If you plan use the balance transfer, you can transfer from $200 up to 80% of your available credit limit from up to 3 non-Westpac Australian issued credit, charge or store cards.
  • Cardholder status. In order to be eligible for the $0 first year annual fee and balance transfer offers, you must be a new Westpac Low Rate cardholder.

Card benefits

  • First-year annual fee waiver. Save with a $0 annual fee for the first year ($59 thereafter). This offer is only available when you apply and get approved by 30 June 2022.
  • 0% balance transfer offer. You can consolidate other card debts and save with 0% p.a. interest for the first 28 months when you apply by 30 June 2022 (a one-time 1% balance transfer fee applies). At the end of the introductory period, any remaining balance will revert to the variable cash advance rate, currently 21.49% p.a. The balance transfer will be processed when the card is activated.

Rates & fees

  • Annual fee. Outside of any promotions, this card charges an annual fee of $59.
  • Purchase rate. This card charges a variable purchase interest rate of 13.74% p.a.

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  1. Default Gravatar
    August 20, 2019

    Is a pensioner’s Centrelink income accepted in assessing an application for a Westpac Low Rate Credit Card?

    • Avatarfinder Customer Care
      August 21, 2019

      Hi Adrian,

      Yes, Westpac can consider your pension when applying for their Low Rate Credit Card.

      On their application form, under ‘Income and Savings’, there is a portion which says income/salary/pension where you can put in the amount you receive either monthly, fortnightly, weekly or annually.

  2. Default Gravatar
    May 17, 2019

    Does this card attract Qantas frequent flyer points?


    • Avatarfinder Customer Care
      May 18, 2019

      Hi Susan,

      It doesn’t earn Qantas Points or any reward points. If you’re considering getting a Westpac credit card that earns Qantas Points, you may want to check out their Altitude Black Card. If you’re looking for other Qantas options, check out our guide to Qantas Frequent Flyer Credit Cards.

  3. Default Gravatar
    April 3, 2019

    Hi there
    Just I want ask before applying credit card
    My credit score in equifax is 632
    And in Dun and Bradstreet 462
    Can I apply for credit card?

    • Default Gravatar
      April 3, 2019

      Hi Milan,

      There are more requirements than just credit score that you have to meet when applying for a credit card. You can check out ‘Eligibility Criteria’ section in our review above to see the specific guidelines for this card.

  4. Default Gravatar
    March 23, 2019

    Hi! I am wanting to transfer my Commonwealth card to Westpac. My commonwealth card credit limit is $15,000 and I am currently maxed out. Should I pay three grand off this card before applying for a balance transfer – or is that unnecessary?

    • Avatarfinder Customer Care
      March 24, 2019

      Hi Guy,

      It will depend on the credit limit that will be approved to you by Westpac. This card will only allow 80% of the available balance to be used for balance transfer. So if you are planning to transfer full $15,000 from Commonwealth, you need to be approved for at least $18,750 by Westpac for the full balance to be covered. Otherwise, you may need to pay Commonwealth the amount that will not be covered by the balance transfer in full to avoid being charged interest.

  5. Default Gravatar
    December 1, 2018

    If I apply today and get accepted how long does it take to get the credit card as I leave for overseas shortly. Thanks

    • Avatarfinder Customer Care
      December 6, 2018

      Hi Sasha,

      If approved, it will take approximately 10 days from the day you applied to received your credit card in the mail.

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