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

Sally McMullen 21 April 2017


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

Good news! Westpac relaunched its 0% for 24 months balance transfer offer on the Westpac Low Rate credit card this month. The bank previously released the same offer in December last year, which came in handy for cardholders who needed to consolidate their Christmas credit card debt.

The reinstated 0% for 24 months offer makes it the longest interest-free balance transfer card on the market, a title it shares with the NAB Low Rate Platinum Card. Regularly, the Westpac Low Rate credit card would only offer 0% on balance transfers for 12 months. However, you can take advantage of this 24 month, interest-free offer if you apply online and are approved by 28 June 2017.

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 standard purchase rate of 13.49% p.a. and any remaining debt will begin to grow with interest. While higher than the 0% offer, the revert rate is competitive compared to other balance transfer credit cards which often have a standard interest rate of around 20%. 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% 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.

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, the NAB Low Rate Platinum Card comes with a higher annual fee of $100 and a revert rate of 21.74% p.a., it also offers complimentary travel insurance, purchase protection insurance and a concierge service.

On the other hand, the Westpac Low Rate card comes with little to no extra features. This may not be an issue if you’re only using the card to consolidate and repay your debts, but could be something you might want to consider if you 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.

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

  1. 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
      Liezl | June 15, 2017

      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.


  2. Default Gravatar
    PG | May 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
      May | May 18, 2017

      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.


  3. Default Gravatar
    Dan | May 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
      May | May 9, 2017

      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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