Bankwest Lite MasterCard Credit Card
Posted February 16th, 2008
and last modified May 18th, 2010
The Bankwest Lite MasterCard offers a guaranteed low rate to help you manage your credit card debt.
The Bankwest Lite MasterCard is an entry level credit card from the bank, aimed at the more budget conscious customer. Read on to find out the primary features of this card.
Reduce stress with a guaranteed low rate credit card. Now just 10.75% p.a. on purchases.
| Balance Transfer Rate |  |
1.99% p.a. for |
|---|---|---|
| Interest Rate | |
10.75% p.a. |
| Annual Fee | |
$59 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.74% p.a. |
| Card Type | |
Standard |
| Credit Card Type | |
Mastercard |
| Rewards Program | |
No |
- 10.75% p.a. on purchases
- 1.99% p.a. for 9 months on balance transfers
- 21.74% p.a. on cash advances
- A low $59 annual fee.
- Up to 55 days interest free on purchases.
- Up to 3 additional cardholders – free!
- 24/7 account access via Bankwest Online Banking
- Use your Bankwest Lite MasterCard at over 28 million outlets worldwide.
Click here to read the official terms and conditions
Bankwest is a respected regional bank, having a strong presence in Western Australia. They do operate all across the country, and provide a range of credit cards for all Australians.
Features of the Bankwest Lite MasterCard
Bankwest Lite MasterCard is a no-frills, basic entry level credit card, as can be seen from this summary of the salient features of this card:
- Low interest rate – The regular interest rate on purchases with this card is one of the best in the country. There is a promotional period for which this special low interest rate is valid, but given the really long period cardholders won’t be feeling the pinch of interest any time soon.
- Special balance transfer – There is also a very low rate balance transfer offer for a period of up to twelve months, a higher period than what most other credit cards provide. You do have to pay a 1% balance transfer fee though, but the fee is capped at $50. Therefore if you are transferring more than $5,000 you would be paying less than 1% in balance transfer fee.
- Up to 55 days interest free for purchases – Unlike other low rate cards the interest free period provided is quite high. Bear in mind that this grace period does not apply if a balance transfer remains outstanding.
- Modest annual fee – The annual card fee is $59. Cardholders can add up to three more family members or friends on this card account for the same fee.
Since this is a bare-bones card designed to be low cost, there are no reward programs or cash back options. Some of the features in higher-end cards are also missing, such as complimentary travel insurance and purchase protection (which provides insurance cover for items which are purchased with this card against accidental damage or theft).
Overall, the Bankwest Lite MasterCard succeeds in providing good value in its chosen niche. For a small annual fee customers get access to a low interest rate card which also has good balance transfer options and up to 55 interest free days on purchases. And since this is a MasterCard, it comes with extra protection from credit card fraud and the famous ‘zero liability guarantee’ from MasterCard.
Click here to read the official terms and conditions
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