The Westpac Low Rate Credit Card is suited to people who want a low-cost account with simple features. You can pay with it anywhere Mastercard is accepted, and get access to interest-free days for purchases if you pay your balance off in full by the due date on each statement. While it offers up to $350 cashback for new cardholders, keep in mind that it doesn't have an ongoing cashback or rewards program.
Westpac Low Rate Credit Card – Cashback Offer
- Purchase rate
- 13.74% p.a.
- Annual fee
- $59 p.a.
- Interest-free on purchases
- Up to 55 days
Up to $350 cashback offer
Competitive $59 annual fee
Free additional cardholder
No rewards program
No additional perks like insurance covers or travel benefits
|Product Name||Westpac Low Rate Card - Cashback Offer|
|Purchase rate p.a.||13.74%|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate p.a.||21.49%|
|Min credit limit||$500|
|Max credit limit||$50,000|
|Available to temporary residents||Yes|
|Minimum monthly repayment||2% of the closing balance or $10, whichever is greater|
|Late payment fee||$15|
|Foreign currency conversion fee||3%|
|Cash advance fee||3%|
|Overseas cash advance fee||2%|
|Additional cardholder fee||$0|
|Number of additional cardholders||1|
How to applyYou 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.
- New cardholder. The cashback offer is only available when you apply for the Westpac Low Rate credit card as a new cardholder before 30 April 2024. So if you currently hold a Westpac credit card or have held one in the past 12 months, you won't be eligible for this offer.
- Age. You must be at least 18 years of age to apply.
- Residency. In order to apply online, you must be a permanent resident of Australia, currently in Australia.
- Personal details. Including your full name, date of birth, residential address, contact information, marital status and number of financial dependents.
- Proof of identification. You'll need to provide some form of identification such as Australian driver's licence, Medicare card or Australian passport.
- Finances. You'll need to confirm your annual income with recent payslips or bank statements. You'll also be asked to list your assets, liabilities and expenses.
- Employment. Confirm your current place of employment and provide your employer's contact information.
- Balance transfer information. If you are transferring a balance(s) to the Westpac Low Rate, you will need to provide details of that account(s).
- Up to $350 cashback. If you apply as a new Westpac credit card customer by 30 April 2024, you'll get $50 cashback each month when you spend $1,000 or more on eligible purchases in the first 7 statement periods from card approval. Eligible spending covers most everyday spending. Transactions that won't count towards the spend requirement include account fees and charges, cash advance transactions, gambling transactions, balance transfers and purchases from or payment to a government or government related agency. The $50 cashback will be credited to your account within 60 days of meeting the minimum spend requirement for that statement period.
- Digital wallets. You can make tap and go payments using your eligible phone or device by adding this card to your Apple Pay, Google Pay or Samsung Pay wallet.
- Instalment plans. If you want to repay purchases or your balance over time, Westpac offers 2 different instalment options. You can use Pay in 4 to split your purchases into 4 repayments (similar to some buy now pay later plans). Or, set up a SmartPlan for either a single purchase of at least $200 made in the last 30 days or any credit card balance that's worth $200 or more.
- Additional cardholders. If you want to share your account with someone, you can request 1 additional cardholder at no extra cost. Just keep in mind that you will be responsible for all repayments and account management as the primary cardholder.
Rates & fees
- Annual fee. This card charges a $59 annual fee.
- Purchase rate. This card charges a variable purchase interest rate of 13.74% p.a.
- Interest-free days. When you pay your monthly payment balance in full by the due date listed on each statement, you will get up to 55 days interest-free on purchases. Note that your monthly payment balance excludes current balance transfers. Interest-free days are also separate from any longer-term interest rate promotions.
- Credit limit. This card has a minimum credit limit of $500.
- Cash advance costs. If you make a cash advance transaction on the Westpac Low Rate credit card, you will be charged the variable cash interest rate of 21.49% p.a. This rate will be effective from the date the transaction occurs. Cash advances also attract a fee of 3% of each cash advance amount.
- International transaction fee. The fee for converting currency and making purchases with merchants overseas or online in a foreign currency is 3% of the transaction value.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
March 24, 2023
Will this affect my credit score and I have only just started work full-time so if I apply now only one payslip will show up
Amy Bradney-George Finder
March 27, 2023
When you apply for a credit card, a credit enquiry is added to your report and that can affect your credit score. If you’re not sure what employment and supporting documentation will be needed, you could call the provider or check out Finder’s guide to applying for a credit card as a new employee. I hope that helps.
Show more Show less