Westpac Low Rate Credit Card – Details & Application
The Westpac Low Rate credit card offers plenty of great benefits aside from just the low rate.
The Westpac Low Rate credit card is quick and easy to apply for this great credit card online, but there are some things you should consider first.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
0% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
0% p.a. for 6 months (reverts to 13.49% p.a.) |
| Annual Fee | |
$45 |
| 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 Low Rate Credit Card features:
- Purchase Interest Rate: 0% p.a. for 6 months (reverts to 13.49% p.a.)
- Balance Transfers: 0% p.a. for 6 months, requested when you apply
- Cash Advance Interest Rate: 21.49% p.a.
- Cash Advance fee: 2% of the value of the transaction
- Annual fee: $45
- Up to 55 interest-free days on purchases, provided you pay your closing balance (including any promotional amount) in full by the statement due date each month
- Paperless eStatements available
- Choose either Visa or MasterCard
- Protected by CardShield
- Increased card security with an embedded microchip
- Accepted at over 28 million locations worldwide
- Extra security when you shop at participating online merchants by registering with MasterCard SecureCode or Verified by Visa
Read the official terms and conditions
Westpac Low Rate Credit Card Rates and Fees
The Westpac Low Rate credit card lives up to its name, offering a great low rate of 0% p.a. for 6 months on balance transfers. This means you no longer need to put up with high interest rate charges on your other credit cards, store cards or charge cards.
Customers can also benefit from a low annual fee of $45, along with a competitive low rate on purchases at just 0% p.a. for 6 months (reverts to 13.49% p.a.). This is significantly cheaper than many comparable credit card purchase rates on the market today.
Once your balance is paid down and you can manage to repay your balance down to zero each month, you can then enjoy up to 55 interest free days on purchases.
While the rates are very low, there are still a few fees to take into consideration when thinking about applying for the Westpac Low Rate credit card.
This promotional introductory rate is ideal for anyone struggling to repay credit card debt. Simply consolidate outstanding debts over to this account and put your interest savings towards debt reduction. At the end of the balance transfer period, the rate reverts to the standard purchase interest rate.
Westpac Low Rate Credit Card Application
Before you apply for your Westpac Low Rate credit card, you will need to be older than 18 years old at the time of application. You will also need to be an Australian citizen or permanent resident.
You may be asked to provide income verification, such as pay slips or tax returns and you’ll need to fill in your employer’s address and contact details.
You will need to display some form of identification to Westpac to verify your full name and date of birth.
Westpac may conduct a credit check on you to assess you credit history. If you’re transferring balances from other lenders, then you may also need to supply the account numbers so Westpac can bring your balances across for you.
Westpac’s down to earth low interest rate credit card, the Westpac Low rate – one of the most competitive low rate cards currently available in Australia.
Discover the benefits of carrying a Westpac Low Rate credit card. Enjoy a great balance transfer rate of 0% p.a. for 6 months and a low ongoing purchase rate of 0% p.a. for 6 months (reverts to 13.49% p.a.)
The Westpac Low Rate Visa or MasterCard offers the consumer a double hit of low interest rates, which makes it a great all-rounder to cover short-term balance transfers and longer-term regular purchases. Firstly, you benefit from an introductory offer of 0% p.a. for 6 months from a non-Westpac credit card for the first nine months following account opening.
Secondly, you get a low regular purchase rate of just 0% p.a. for 6 months (reverts to 13.49% p.a.), meaning that you can use your card for purchases (only once any balance transfer has been cleared if you’re being sensible), and know that you won’t suffer with excessive interest charges should you not be able to clear your balance in full at the end of the month.
The Regular Purchase Rate
0% p.a. for 6 months (reverts to 13.49% p.a.) is a very competitive rate of interest on purchases, and this gives you the confidence of knowing that you can afford to build up a little debt and not worry too much about interest charges. The key point to remember not just with the Westpac Low Rate but with any balance transfer credit card is that you should not be making any purchases on your card whilst you have an introductory rate transferred balance on your card.
The reason for this is because your repayments will always be directed to reducing your cheaper rate balance transfer first, leaving your purchases accruing interest at the higher rate.
The Westpac Low Rate balance transfer
Making a balance transfer to your new Westpac Low Rate credit card is best done when you are completing your online application, which shouldn’t take more than fifteen minutes. In this way, you know you are taking full advantage of the nine months at 0% p.a. for 6 months, because the clock starts ticking on this deal as soon as the account is opened. If you are currently paying in the teens with the interest rate on your existing debt, you can shave at least 10% off that by shifting it over to the Westpac Low Rate.
Westpac Low Rate Credit Card
A simple no frills credit card featuring a low ongoing rate on purchases, up to 55 days interest free, balance transfer offer for the first 6 months and low annual fee.
- $45 annual fee
- 0% p.a. for 6 months (reverts to 13.49% p.a.) on purchases
- 0% p.a. for 6 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- 55 days interest free
- Available as either a Visa or MasterCard
Read the official terms and conditions
| Minimum Income | Minimum Age | 18 years of age | |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $1,000 | Max Credit Limit | $30,000 |
| Annual Fee | $45 | Balance Transfer Fee | |
| Minimum Repayment | 2% | Interest Charged From | Purchase Date |
| Late Payment Fee | $9 | Over Limit Fee | $9 |
| Overseas Emergency Replacement | $0 | Overseas ATM Balance check | $0 |
| Overseas ATM Withdrawal | $2.50 | Foreign Currency Conversion Fee |
what is, if any the international
conversion fee
what rate do I pay on balance transfers after the introduction rate?
Hi Cameron
Thanks for your comment
After the balance transfer period is over, the interest rate will switch back to the standard variable interest rate for purchases.
Cheers
Jeremy
does it help applying for a balance transfer card from a bank you already have a savings account with,or do you just go for any bank?
Hi Fiona
In most cases it will have no impact. Sometimes, if you’re a business customer and applying for a business credit card this can be a little different as the application criteria is slightly different.
All the best,
Jeremy
If I transfer a balance of $10,000 is the interest added monthly on the balance owing. For example if i transfer $10,000 and don’t pay for two months will $99 be added for both months or is the .99% the total interest over the nine months which would be a total of $99
how much i can transfer to the new card
Can i transfer the balance of a personal loan onto this credit card or only from another credit card ?
Thanks,
Stevey
Hi Stevey
As far as I’m aware this is not possible with Westpac credit cards. Citibank credit cards do allow you to do a balance transfer from a personal loan on to their credit cards, but it is always best to confirm.
Cheers,
Jeremy
Hi Sibil
The amount you can do with a balance transfer will depend on the approved credit limit assigned to your account.
Cheers
Jeremy
Will I pay a balance transfer fee? In the US, it is typical to pay 3% on the transferred amount.
Can i transfer a balance from a previous Westpac credit card to this low rate credit card?
my wife and I have three cards we are considering to roll over to a balance transfer. Only one is in both of our names. The other two are in sole names. Can all of these be put into the one card.
Hi Shane,
Thanks for the question. It is possible to consolidate your three cards into the Westpac Low Rate Card; however, you are only allowed one primary card holder and additional secondary card holders. This is not the same as a joint account as the secondary card holder is restricted in what they can do. They are allowed to check balances, reissue lost cards but are not allowed to close the account or increase the credit limit and so on. Think of an additional card holder as only having general access while the primary card holder deals with specifics. May we also suggest that you have a look at St.George credit cards as an option for a joint credit card application. Hope this helps.
Cheers.
Jeremy
Hi Rebecca,
No, the terms and conditions for the offer state that “This special balance transfer rate applies to balance transfers from non-Westpac credit, charge or store card(s) when requested at new card application by 16 March 2012″. Thanks for your question.
Cheers.
Jeremy
Hi,
G’day and good question. There is no balance transfer fee for this card. Most companies offer free balance transfers at a lower rate as an incentive to the customer to switch provider; however, some companies do charge a fee of 1- 3% but it will be clearly stated. Please remember that whilst there is no initial fee for the balance transfer, the balance transfer rate of interest is still applied to the balance. Also be sure to watch for the end of the balance transfer period when the interest reverts back to the higher, purchase rate. Thanks.
Jeremy