Westpac Low Rate credit card 0% balance transfer for 24 months

Sally McMullen 15 November 2017


Clear your credit card debt without the cost of interest for two years with Westpac’s new balance transfer offer.

Good news! Westpac has relaunched its 0% for 24 months balance transfer offer on the Westpac Low Rate credit card this month. The bank previously released a similar offer in December last year and again in April and August 2017.

The reinstated 0% for 24 months offer makes it one of the longest interest-free balance transfer card on the market. Outside of this specific promotional offer, the Westpac Low Rate credit card usually only offers 0% on balance transfers for 20 months. However, you can now take advantage of this 24 month, interest-free offer if you apply online and are approved by 31 January 2018.

What are the costs?

While you will save on interest, the card isn’t entirely cost-free. You’ll have to pay the 2% balance transfer fee when you first move your balance to the new card and an annual fee of $59 (which is relatively competitive compared to some other balance transfer credit cards).

When the interest-free balance transfer offer ends, the interest rate will revert to the variable cash advance rate of 21.49% p.a. and any remaining debt will begin to grow with interest. If you’re worried that you won’t be able to pay your debt in full by the end of the two-year promotional period, the revert rate is something you should pay attention to.

You’re required to pay at least 2% (or $10, whichever is greater) of your closing balance each month, but you should pay as much as you can to clear your debt before the introductory offer ends. So, let’s say you have a balance of $10,000. Rather than just paying the 2% minimum repayment (which would be $200 each month), you could pay $416 each month to clear the entire balance within 24 months and avoid collecting any interest.

Are there any extra features?

Although the Westpac Low Rate card offers a competitive 0% balance transfer deal and relatively low fees, it is a no-frills card that comes with limited extra features. For example, some other balance transfer credit cards come with complimentary insurances, concierge services and rewards programs. However, if you're only using the card to consolidate and repay your debts, the lack of additional features may not be a concern if you don't plan to use the card beyond the promotional balance transfer offer.

If you’re struggling to repay a large debt that is collecting high-interest, Westpac's Low Rate card could be a useful tool to clear your debt without collecting any additional interest. However, as this isn’t the only 0% balance transfer offer on the market, it would be wise to compare your options before you apply.

You can use our balance transfer credit card guide and consider the size of your debt and your ability to repay as well as the additional costs that come with the card to pick the right card for you.

Product NameWestpac Low Rate - Online Offer
Balance transfer rate (p.a.)0% p.a. for 30 months with 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)13.49% p.a.
Offer end date28 February 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.)21.49% 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.
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.
Card TypeVisa
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 InsuranceNo

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10 Responses

  1. Default Gravatar
    LalitSeptember 5, 2017

    I’m westpac customer.
    I have to transfer some amount to my Non westpac bank AC.
    Can I apply for BT?

    • Staff
      RenchSeptember 5, 2017Staff

      Hi Lalit,

      Thank you for reaching out to us.

      With regard to your query, understand the rules around balance transfer credit cards and learn which banks you can and can’t transfer your debt between. Balance transfer credit cards have restrictions around which institutions you can balance transfer your debts from to enjoy a low or 0% promotional interest rate. This is usually because the credit card companies have financial ties to one another. Please refer to this page for more information to which bank is applicable for balance transfer from Westpac.

      Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      I hope this information helps.

      Best regards,

  2. Default Gravatar
    PaulJuly 12, 2017

    I applied for the Westpac 24 month interest free credit card – through your site – before the 28th June and was approved. Now Westpac are saying Finder.com never had the right to advertise that product? and they wont allow me to have the 24 month interest free period and are trying to charge a transfer fee along with halving the agreed interest free period you had advertised to 12 months. Please explain as I am taking this to the ombudsman. I am very disgruntled

    • Default Gravatar
      JonathanJuly 26, 2017

      Hello Paul,

      Thank you for your inquiry. We understand that you feel upset about what happened.

      Please be advised that finder is a comparison website and we publish the information based on the sources we get such as the card’s website. Therefore, the offer which you have seen on our page, is also readily seen and available to our merchant’s website.

      They have discretion on approving past and existing promotions as this is subject to their own internal guidelines, which is beyond our scope. If you believe you have met the qualifications for the balance transfer offer, you may consult with them for review and/or check their T&Cs.

      Hope this clarifies.


  3. Default Gravatar
    June 15, 2017

    Hi there,

    I have a credit card with St. Goerge bank (Vertigo), can I get BT with Westpac for 24 months?
    Thank you.

    • Staff
      LiezlJune 15, 2017Staff

      Hi Inem,

      Thanks for your question.

      You can’t do balance transfer between these two brands since both are issued by Westpac. You can refer to our guide on this page on which credit card you can balance balance transfer to.


  4. Default Gravatar
    PGMay 18, 2017

    Hi, I’m WBC staff and have a WBC Altitude Platinum and wanted to transfer (payoff) my mum’s balance from another WBC credit card. Can I qualify for a 0% offer?

    • Staff
      MayMay 18, 2017Staff

      Hi PG,

      Thank you for your inquiry.

      Unfortunately, as a general rule with most credit card issuers, it’s not possible to transfer your current credit card debt to a new card which is also issued/underwritten the same institution. You can get more information from our guide here with regards which card you can transfer your balance to.

      So, I’m afraid that your mother’s credit card balance cannot be transferred to your new Westpac card with 0% interest offer. Although if you are reconsidering of checking other options for BT cards, you may click this page.

      Hope this helps.


  5. Default Gravatar
    DanMay 9, 2017

    Hi, you stated that the Westpac low rate credit card has a 24-month interest free period on balance transfers, but it appears to be 12 months on their website now. Does this mean the 24-month deal is finished?

    • Staff
      MayMay 9, 2017Staff

      Hi Dan,

      Thank you for your inquiry.

      The 24-month 0% interest on BT offer with Westpac Low Rate credit card is still on-going and will end on 28 June 2017. If you will click on the green button that says “Go to Westpac website” above, you’ll be redirected to the main page of Westpac and you can see the same offer.


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