Westpac ’55 Day’ Credit Card – Details & Application

The Westpac 55 Day Credit Card can allow you to pay 0% p.a. for 5 months (reverts to 19.59% p.a.) interest on your purchases and then enjoy up to 55 days interest free on purchases after that.

Simply make sure you pay your closing balance down to zero each month and you can enjoy using your credit card without being charged high interest rates.

It seems that consumers are getting a bit more cautious with their credit and are therefore interested more in the rates they will be charged than the potential rewards they could earn. It makes a great deal of sense, given the recent fluctuations in the economy and an overall credit crunch, that smart Australians are looking for ways to keep more of their cash in the bank. This new card offering will help you do just that.

Interest Rates, Fees & Charges

Balance Transfer Rate		3.99% p.a. for 6 months
Interest Rate on Purchases		0% p.a. for 5 months (reverts to 19.59% p.a.)
Annual Fee		$0
Interest Free Period		up to 55 days
Cash Advance Rate		21.49% p.a.
Card Type		Standard
Credit Card Type		Visa/MasterCard
Rewards Program		No

Westpac 55 Day Credit Card – Details

If you’re already struggling to repay credit card debts from other lenders, then roll your balances over to the Westpac 55 Day credit card and enjoy a low interest rate of 3.99% p.a. for 6 months. This can represent a huge saving on the interest you would normally be charged.

By putting your interest savings back towards your credit card repayments, you could find your credit card debt shrinking in no time.

Even though the interest rate on purchases after the introductory period reverts to 0% p.a. for 5 months (reverts to 19.59% p.a.), if you’re careful to repay your balance every month, you’ll never be charged this rate, as you’ll be enjoying the interest free days on your purchases.

Westpac 55 Day Credit Card – Application

When you apply for your new card, you will need to be over 18 years of age at the time of application and you will also need to be an Australian Citizen or permanent resident.

You will need to supply income details and verify these using pay slips or tax returns. Westpac may conduct a credit check on you to verify your credit history.

You can apply for your Westpac 55 Day credit card quickly and easily online using Westpac’s secure, confidential online application form.

The Westpac 55 Day Credit Card Benefits

Interest free days - As the name indicates, this 55 day credit card offers you 55 interest free days. That means you get to finance purchases for an extended period of time without having to worry about paying interest from day one. Of course, this is subject to your having paid off your full bill on the previous month’s statement.

Excellent interest rates - Right now, you will get a rate of 0% on purchases for the first 5 months that you own the card. After that, the rate goes to a competitive 19.34% per annum on purchases. Again, as long as you pay your bill in full at the end of each payment period, you will spend nothing on interest.

The Westpac 55 Day Visa Card or MasterCard can allow you to enjoy paying 0% p.a. for 5 months (reverts to 19.59% p.a.) interest on the things you purchase using your credit card. The interest period begins on the day your account is activated, so take advantage of this great offer by using your credit card to pay bills or buy the things you need using your card.

The introductory rate is available for new customers applying for a Westpac 55 day credit card. If you’re already a Westpac customer, you may not qualify for this introductory offer.

Balance transfer deal - A balance transfer is when you move the debt from other plastic to your new plastic in order to take advantage of lower rates. This deal is quite nice, allowing you to move over those old debts and pay just 3.99% p.a. for 6 months. After that, the remaining balance will revert to the standard purchase rate. If you can set up a budget that allows you to clear out the full bill, you can get out of debt quite cheaply.

Low annual fee - The first year that you own this card, your annual fee is waived completely. After that, the fee is waived if you reach a $10,000 spending limit during the year. Should you wind up paying the fee, it is just $0 per year. Other fees might apply including a two percent fee for cash advances, a nine dollar charge for late payments or going over your spending limit, and a seven dollar and fifty cent fee for duplicate statements. Foreign transactions also incur added charges.

Additional Benefits

• Applicants can choose between a MasterCard or a Visa Card
  when they apply for the 55 Day Credit Card.
• Link their 55 Day card to their Westpac transaction or savings account.

If you like for a credit card to come with loads of rewards then this is not the right plastic for you. However, if you are one of the many people who prefers to use their cards as an inexpensive convenience, Westpac has the perfect deal. Use the card for enough purchases to get your annual fee waived and pay off the balance each month and you will spend nothing extra for your card. It is the perfect spending option in a world where every dollar counts.