Westpac Low Rate Credit Card – Details & Application
What happens when I click Apply Now?
- Clicking Apply will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
- Your application will typically take you no more than 10-15 minutes to complete
- Once approved, you will receive your credit card in the mail within 1-2 weeks
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 |  |
3.99% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
1.9% p.a. for 9 months (reverts to 13.49% p.a.) |
| Annual Fee | |
$0 annual fee for the first year ($45 thereafter) |
| 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 |
| Additional Cardholder Fee | |
$0 p.a. |
Westpac Low Rate Credit Card features:
- Purchase Interest Rate: 1.9% p.a. for 9 months (reverts to 13.49% p.a.)
- Balance Transfers: 3.99% 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: $0 annual fee for the first year ($45 thereafter)
- 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 3.99% 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 $0 annual fee for the first year ($45 thereafter), along with a competitive low rate on purchases at just 1.9% p.a. for 9 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 3.99% p.a. for 6 months and a low ongoing purchase rate of 1.9% p.a. for 9 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 3.99% 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 1.9% p.a. for 9 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
1.9% p.a. for 9 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 3.99% 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.
- $0 annual fee for the first year ($45 thereafter) annual fee
- 1.9% p.a. for 9 months (reverts to 13.49% p.a.) on purchases
- 3.99% 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 Westpac Low Rate Card terms and conditions.
| Minimum Age | 18 years of age | |
|---|---|---|
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Min Credit Limit | $1,000 | |
| Max Credit Limit | $30,000 |
| Annual Fee | $0 p.a. | |
|---|---|---|
| Minimum Repayment | 2.00% | |
| Interest Charged From | Purchase Date | |
| Late Payment Fee | $9.00 | |
| Over Limit Fee | $9.00 | |
| Overseas Emergency Replacement | $0 | |
| Overseas ATM Balance check | $0 | |
| Overseas ATM Withdrawal | $2.50 | |
| Gambling Transactions Allowed | No |
once approved for a low interest rate credit card from westpac how long will it be before i get my card
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
Can I apply over the phone
I already have a westpac 55 day mastercard. I’ve had it for a few years. I am interested in doing a balance transfer to my westpac card but would like to know what interest rate i would be charged.
thanks
Hi,
Would you pls explain that whats the meaning of cash advance fees 21.49% ( as mentioned above in features)
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
Hi,
If I was to use the balance transfer offer of 0.99% for 9 months, how much is the interest rate on balance transfer after the 9 months…
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.
If i am not transferring a balance from another credit card, and would like this credit card for its features, would i still be entitled to 0% interest for the first 6 months?
Can I make two balance transfers at the introductory rate?
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
What is the balance transfer? Ive just turned 18 and no thing of credit cards and im interested to know what it all means simply.
With this card how long is the 0% per cent for, 6 or 9 months?
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
If I transfer the balance into non westpac credit card then how much charge?
Ta
how much for balance transfer to the debit card?
How long will it take to pay existing credit card provider (Commonwealth Bank) and issue a Westpac Mastercard card for me to use.
Is there an application fee on this card?
Hi George,
When performing a balance transfer and one financial institution is buying the debt from another, it is handled during the application process which can take anywhere between 8 – 14 business days to process. Thanks for your question.
Cheers
Jeremy
If we are not a Australian Resident are we not getting a card?
Hi,
There is no charge to apply for this card. There is however an annual fee of $45 that will appear on your statement a month after your card has been activated and on each yearly anniversary after that. Thanks for your question.
Cheers
Jeremy
Hi,
Thanks for the question. After the balance transfer period, the interest rate reverts back to the variable purchase rate. Hope this helps. Cheers.
Jeremy
Hi,
The cash advance rate is the interest you are charged on the amount of money you take from the ATM with your credit card. Westpac will charge you an additional 2% of the amount you take out to perform this transaction. This is not the same as using your ATM with a stores EFTPOS machine to make a purchase. Hope this clears things up.
Cheers,
Jeremy
Hi Rob,
You cannot perform a balance transfer between two cards from the same provider. Thanks for the question.
Cheers,
Jeremy
Hi,
Yes you can, although the process is the same as with an online application. Thanks.
Cheers,
Jeremy
Hi,
There is no fee for processing a balance transfer. Thanks for your question.
Cheers,
Jeremy
Hi Abdullah,
There is no fee for processing a balance transfer. Thanks for your question.
Cheers,
Jeremy
Hi,
Thanks for your question. Please allow up to 14 working days after approval.
Cheers,
Jeremy
Hi,
The 0% rate of interest will last for 6 months. Thanks.
Cheers,
Jeremy
Hi Krystal,
Thanks for the question. Please check the educational resources found on our the balance transfers page of our site for clarification on this question – http://www.creditcardfinder.com.au/balance-transfer-credit-cards – put simply, it’s when one institution buys the outstanding balance of your credit card from another institution to get your business – they entice customers to switch by charging a lower rate of interest then what they are already paying for a set period of time. Hope this helped.
Cheers,
Jeremy
Hi Tegan,
You cannot make two separate transfers; however you may simultaneously bring the outstanding balance of two cards to the Westpac Low Rate Card.
Cheers,
Jeremy
Hi,
Most cards require that you are a citizen or resident for your application to be approved although there are some cards which do allow people who are on a sub-category visa to apply. Thanks.
Cheers,
Jeremy
Hi Simone,
No, the special balance transfer rate of interest is only available to new customers joining through a balance transfer. Thanks.
Cheers,
Jeremy
I already have a westpac 55 day mastercard. I’ve had it for a few years. I am interested in applying for this balance transfer to my westpac card. Is it possible?
Hi,
To take advantage of the low rate of interest offered through a balance transfer you have to bring the balance from another bank. Cheers.
Jeremy