Westpac have a good range of credit cards in Australia, with low interest rate credit cards, great balance transfer deals and a healthy range of rewards cards. Westpac is Australia’s third leading credit card issuer.
Westpac Credit Card Offer
The Westpac Low Rate Visa is a great low interest, low fee credit card from Westpac. It offers a low interest rate balance transfer and a low purchase rate and annual fee. You can also use paperless eStatements to have your bills electronically delivered, saving paper and time.
- $45 p.a. annual fee
- 13.49% p.a. on purchases
- 0.99% p.a. for 14 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- 55 days interest free
- Minimum Income Requirement of $15,000 p.a.
Westpac Credit Card Comparison
Westpac Business Credit Card
Westpac Debit Card and Saving Accounts
Westpac has come a long way over the years. It had a simple beginning, but proved itself to be a company worth watching as they grew and outperformed many other financial institutions. You can read the Westpac story in this article.
Westpac is Australia’s oldest bank and Australia’s oldest company. It was originally called the Bank of New South Wales before its name was changed in 1982. It was the first bank in Australia and was founded in 1817.
It started when Governor Lachlan Macquarie signed the charter so that the colony could have a commercial system that was secure. Macquarie’s secretary, John Thomas Campbell, became the chairman of the board and was the first president. When the bank first opened, three employees served one customer in four hours. One of these employees, served as a servant and a porter, and he was given 25 pounds as an annual salary and was allowed to have a weekly ration taken from the King’s stores.
As gold fever started to hit the colony in 1850, the first branch to be located outside Sydney was established in Brisbane. At the time, men were putting up shanties and tents in each new town of gold, and to keep up with the frenzy, the company started 37 offices in New Zealand and Australia in a little more than a decade. The bankers had a hard time dealing with the conditions. One of the banks was on the side of the street with a piece of bark resting between two logs that acted as a seat. A stream ran right through the building underneath them.
The Bank of New South Wales opened a branch in the Pacific at Suva, Fiji in 1901. The first bank to open in Papua was established 9 years later. In 1956 the bank began offering the opportunity for savings that was previously a government-owned monopoly. It partnered up with the Surf Life Saving Association in 1973 to start the first civilian rescue helicopter service that also offered medical care. Even now, you will quite often see the Westpac Life Saver helicopters at the scene first when there is an emergency.
The Bank of New South Wales merged with the Commercial Bank of Australia Ltd. in 1982, which made it the biggest banking group in Australia. At that point it was given a new name: Westpac Banking Corp. Westpac is an abbreviation of the words Western Pacific. During the years 1993 to 1999 Westpac acquired the Challenge Bank Limited, the Trust Bank New Zealand and the original Bank of Melbourne.
During the 2000 Olympic and Paralympic Games, Westpac was a proud sponsor and offered employment to 50 Paralympic and Olympic hopefuls. It was a direct sponsor of elite athletes such as Susie O’Neill, Ian Thorpe, Liz Weekes and Grant Hackett.
In 2002, Westpac acquired parts of BT Financial Group, 51% of Hastings Funds Management Limited and Rothschild Australia Asset Management. In 2005 it held 100% ownership of Hastings Funds Management Limited. Westpac merged with St.George Bank in December 2008.
Westpac services and products
While Westpac provides all the services and products you could possibly need from a banking institution they also go the extra mile to provide responsible and accountable banking procedures. This includes community involvement, environmental care, effective employee and customer practices. The bank has a solid presence and wants to be known as trustworthy for its many valued customers. It has won various recognitions and awards for providing outstanding quality with its banking services. Westpac offers a variety of personal banking products including loans, savings accounts, credit cards and much more. They have been awarded Cheapest Balance Transfer from Money Magazine’s Best of the Best awards (see below).
Westpac Credit cards
Here are the credit cards offered by Westpac. As you can see by the list, there’s a card available for virtually anyone.
- Westpac has won Money Magazine’s Best of the Best Award two years running for Cheapest Balance Transfer (2012 and 2013) with their Low Rate credit card
- Westpac Low Rate Credit Card. The Westpac Low Rate Credit Card is another option that Westpac has to offer which may suit those who carry a balance from month to month. The Low Rate Card offers customers an interest free period that could last up to 55 days, and a low purchase rate of 13.49% p.a.. However, to make use of this you want to bring your balance back to zero each month when you pay your bill. The Low Rate offers applicants a Visa credit card, and has a relatively low annual fee of $45 p.a.. Enjoy 24/7 Falcon monitoring and an additional cardholder at no extra cost.
- Westpac 55 Day Platinum Visa Card. The Westpac 55 Day Card is a standard credit card that features the Visa logo. When using this credit card you will pay 0% p.a. for 5 months on purchases and during your first year you do not have to pay an annual fee. However, if you choose to go with the Westpac 55 Day credit card you will not be eligible to participate in any rewards programs. So, when debating this credit card you really have to think which benefits and features are the most important to you. If you can live without a linked rewards program then you should have no problems when it comes to the features and benefits of the Westpac 55 Day Card.
- Westpac Altitude Credit Card. The Westpac Altitude Credit Card is a standard card that can either comes with an American Express card and a linked Visa. Both cards earn Altitude points, which can then be redeemed for a range of rewards including technology, home wares, gift cards and retail vouchers. These points can also be exchanged for points in travel programs such as the Virgin Velocity, Malaysia Airlines Enrich, Air New Zealand AirPoints, Singapore Airlines KrisFlyer and Cathay Pacific AsiaMiles.
- Westpac Altitude Platinum Credit Card. The Westpac Altitude Platinum card comes with both a linked American Express and or Visa credit card. The advantage of two cards linked to the one account means you can earn more points where Visa is accepted, and take advantage of Visa’s worldwide acceptance. If you want to earn more points, you can use your American Express. In addition to the benefits of having two cards, the points that you earn when you use your Westpac Altitude Platinum Card don’t expire as with some of the other credit cards. The major difference between the regular Altitude card and platinum level is that this card offers platinum benefits such as complimentary insurance policies, including overseas travel insurance. As well, Altitude Platinum cardholders also get access to their own concierge service and a higher minimum credit limit.
- Westpac Earth Credit Card. This card also links American Express to a MasterCard. Your dollars spent with it are linked to the Qantas frequent Flyer program for Qantas Points. These points may be traded for Qantas flights, holidays or hotel accommodations. The Earth Card earns you 1.00 Qantas Points for each dollar spent using the American Express Card and 0.50 point per dollar if you use the linked MasterCard.
- Westpac Earth Platinum Credit Card. The Earth Platinum card works in much the same way as the standard Earth card mentioned above: you get both an American Express and a MasterCard linked to one account which you can use to earn Qantas Points. In addition, you’ll get access to platinum features such as complimentary insurance and a platinum concierge service. It also allows you to use PayPass when you use the MasterCard, and allows an additional cardholder at no extra cost.
- Westpac 55 Day Card. Westpac offers a 55 day interest free period for purchases in Visa. For those who are able to pay their accounts in total each month, with this card you will never pay interest. There is no annual fee for the first year, and in each year that you spend at least $10,000 on the card thereafter, your annual fee will be waived.
- Singapore Airlines Westpac Platinum. The Singapore Airlines Westpac Platinum Credit Card grants you an American Express and linked Visa card, although unlike the Earth cards, this card earns Singapore Airlines KrisFlyer miles. It has a no interest period of up to 45 days and a set annual fee of $250. You’ll also get access to complimentary platinum features such as a concierge service, complimentary travel insurance and much more.
The similarities and differences of credit cards from Westpac
Westpac has a large range of credit cards available for customers. Some of the options that are available may suit you better than others, such as low interest rates and being part of the rewards programs. This is why we have compiled together this list of different credit cards from Westpac so you can see the differences and similarities in each of the credit cards from Westpac. Some of the features that may be available on your Westpac card include:
- No annual fees for an entire first year
- Low interest rates
- Earning points for every purchase that can later be redeemed for rewards
- Receiving Qantas Points every time your Westpac Credit Card is used
Westpac’s Black credit card range
- Westpac Earth Black. The Earth Black is Westpac’s top tier Qantas Points earning card. It gives you both an American Express and MasterCard to earn Qantas Points at a rate of 1.50 per dollar with the American Express, and 0.63 points per dollar with the MasterCard. In addition, the Earth Black grants cardholders access to their own concierge service, two complimentary Qantas Lounge invitations as well as complimentary insurance policies including travel and purchase security insurances.
- Westpac Altitude Black. The Altitude Black is a premium card which offers a high earning rate for Altitude points in addition to complimentary insurance and other premium features. It features the same linked cards – you’ll get both an American Express and a MasterCard, but you’ll earn Altitude points at an increased rate of 3.00per dollar when you pay using your American Express, and 1.25 per dollar when you use your MasterCard. You also get access to a higher earn rate when using your card overseas, 40000 bonus points on sign up, and a raft of complimentary insurance policies including travel insurance and transit accident insurance. Finally, Westpac also offer a Black Travel Service and an Airport Lounge Priority Pass.
Westpac Credit Card Application Form
Filling out the Westpac credit card application form is simple and can be done online for your convenience. It takes about 15 to 20 minutes to fill out the application online, and only about 60 seconds to find out whether you have been accepted or not.
In order to fill out a Westpac credit card application form you should be earning $15,000 per year as a minimum for a standard card, and $30,000 or more for a Platinum card.
It is important to have the information necessary to fill out your online application nearby to make the process simple. You will need to have your Australian drivers license if you have one, your annual income after taxes, and a list of current financial commitments.
If you cannot meet your repayment obligations, Westpac Assist is a group of specialists that have been assembled to help customers to help manage and control any situations. These specialists can help with alternative arrangements for banking, a missed payment on a credit card and personal or home loan repayments. Personal and business banking has never been simpler. Westpac is totally committed to customer satisfaction, and this is part of the reason why it has come as far as it has over the years. They are a major financial game player that can be trusted and relied on to provide outstanding service and valuable products.
Switching to Westpac
Step one – Choose your Westpac account
The first step to switch to Westpac is make check out which Westpac account best suits your needs. Once this is done, you must attend to your old bank account, and the activity that regularly takes place on it.
Step two – Identify regular credits and debits
Contact your old bank and request that a copy of your regular payment summary be sent to you. This will list all the regular credits and debits that are set up on your bank account. These may include direct debts for utilities, loan repayments, or any type of insurance. It is likely that you have your wages paid into your bank account, so this and any other regular credits must also be listed.
Step three – Print out the online application form
Once you have printed out the application form, completed it and signed it, you can then forward it with your regular payment summary to Westpac via the mail, by fax, or by handing it into your local branch. Westpac will then contact the companies or financial institutions concerned, advising them of your new Westpac account details. Note that this switching process does not apply to any direct debit, credit or periodic payments set up on your credit card or visa debit card. To set up any new periodic payments from your Westpac account, log into Westpac online banking and set up your new standing orders.
Step four – Close your old account
Bear in mind that your old account will need sufficient funds to allow for a smooth transition of any direct debits and payments, so you need to maintain a healthy balance in it to make sure that your commitments are still met until your Westpac account can take over. Once all your payments and debits have been switched to your new account and you can see that your new Westpac account is now the one handling them, you can go ahead and close down your old bank account. Your old bank may accept written notice, or you may have to visit your local branch to do this in person.
If you are thinking you might switch to Westpac but are hesitant because you don’t want to rock the boat, remember that people switch bank accounts every day. Banks are perfectly geared up for exactly this type of activity, and it is in their interest to make the whole process as smooth as possible for the new customer.
How do I make Westpac credit card payments?
Minimum repayment amount
You must make a payment to your credit card every month as advised by your monthly statement. Your statement will note when the payment is due and what minimum payment is required. The minimum payment will be equal to 2% of the closing balance or $10, whichever is greater – added on to any unpaid due amount. If you need to move your statement date so it coincides with your pay, then you can call Westpac to discuss this.
Can I link my Westpac Transaction Account to my card?
Yes, except for the Altitude American Express card. By doing this you will only need to carry one card in your wallet. You’ll be able to withdraw funds from your linked accounts in ATMs and use EFTPOS. You can also transfer funds from one account to another through online banking.
How much should I try to pay off each month?
If you don’t pay your full outstanding balance, you will incur interest charges. Cash advances will incur interest charges from the day you made the cash advance. Westpac recommends that you aim to pay off more than your minimum repayment to avoid any extra interest charges.
How do I make a payment?
There are a number of options available for paying your credit card from your Westpac transaction account.
|Online banking||Westpac Online|
|ATM||Locate an ATM|
|BPay||Make a BPay payment|
|Westpac Branch||Please make sure you bring the top part of your statement with you to the branch|
|AutoPay||You can do this online or by filling in a form at any Westpac branch|
You can also choose to have your payment automatically debited from a nominated account. You can choose to set this up when you apply for a Westpac credit card, or by filling out a Card AutoPay request.