Westpac Low Rate Credit Card – Rate and Fees

Information verified correct on September 27th, 2016
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Pay 0% p.a. on balance transfers for 18 months, receive complimentary insurances and access a platinum concierge service for a low annual fee.

Westpac Low Rate credit card is designed to help credit card users trim down on their card costs. New cardholders get to enjoy 0% p.a. balance transfers for 18 months and an introductory interest rate of 1% p.a. for 12 months on purchases. These offers will end on 11 October 2016.

The card comes with a competitive variable rate on purchases, plus you can add an additional cardholder over the age of 16 at no extra cost.

Product NameWestpac Low Rate Card
Balance transfer rate (p.a.)0% p.a. for 18 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (13.49% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)1% p.a. for 12 months (reverts to 13.49% p.a.)
Offer end date11 October 2016
Annual fee$59 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.49% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Minimum Monthly Repayment2% or $10, whichever is greater
Minimum Income$15,000
Card TypeVisa
Late Payment Fee$9
Foreign Currency Conversion Fee (VISA)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$15,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Annual Fee$59 p.a.
Minimum Repayment2% or $10, whichever is greater
Late Payment Fee$9
Over Limit Fee$9
Cash Advance Fee2% of the transaction amount or $2.50
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
Direct DebitYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
  • This card comes with a promotional offer of 1% p.a. for 12 months on purchases and 0% p.a. for 18 months on balance transfers. After the promotional period, the balance transfer and purchase rate revert to 13.49% p.a. which is the standard variable purchase rate.
  • This card also comes with a low annual fee of $59.
  • This card has no rewards program.

Westpac Low Rate credit card review

The card comes with interest-free days, a competitive annual fee and interest rates. You can add an additional card holder free with the security of microchip technology.

With any credit card you take on, you also must consider the fees. This card attracts various fees, including: annual fees, foreign transaction fees, cash withdrawals and advances, missed payment fees and much more. Cardholders and new members also have access to various promotional offers.

Benefits of Westpac Low Rate credit card

  • Introductory purchase rate offer. This card comes with an introductory purchase rate of 1% for 12 months (reverts to a 13.49% p.a. standard purchase rate after the promotional period ends).
  • Balance transfer offer. You can transfer balances from existing cards to this one and save in the form of interest, as transferred balances don’t attract any interest for the first 18 months.
  • Additional cardholders. Get 1 additional cardholder for $0.
  • Contactless technology. The Visa card can be used at terminals with contactless technology. No need to sign or enter your PIN, simply wave your Visa card over the contactless symbol. You can also use Westpac Mobile banking app and hold your Smartphone against the terminal.

Features of the Westpac Low Rate credit card

  • Annual fee. For new card customers, the annual fee is $59 and $0 annual fee in the first year for existing Westpac customers.
  • Low interest rates. The Westpac Low Rate credit card offers competitive interest rates for purchases and balance transfers. When it comes to purchases, you have a low interest rate of 1% for 12 months and a rate of 0% p.a. on transferred balances for up to 18 months. At the end of the balance transfer period, any unpaid balance from a balance transfer promotion will be charged at the variable purchase rate of 13.49% p.a.
  • Fees. There are certain fees that apply with this card. You will pay a competitive annual fee of $59 as well as a foreign transaction fee which is payable by a percentage of the value of the transaction. Cash withdrawals and advances are also subject to an administration charge which is also a percentage of the transactional value. Missed payment charges apply at a $9 fee and there is an over-limit fee of $9 as well. Duplicate statement fee attracts a $7.50 charge.
  • Card security. This card has various security features. It features Card Shield, which protects your card from fraudulent activities. The Visa card also has an embedded microchip which features enhanced security and Falcon Fraud protection. Falcon Fraud offers 24-hour protection by monitoring your card activities. Westpac have a money back guarantee with all fraudulent activities, provided that you were not responsible for the loss.
  • Interest-free periods. New cardholders can apply for balance transfers with their card application and receive 0% p.a. for 18 months. As a separate feature, you also get up to 55 days of interest-free shopping. However, you will need to pay the closing balance in full every month by the due date. Please note that you decide to do a balance transfer, you void the interest-free days.

How to apply for the Westpac Low Rate credit card

If you’ve decided the Westpac Low Rate credit card is right for you, you can apply for this card by completing the online application form.

Eligibility criteria

  • You must be an Australian citizen or permanent resident to be eligible for the credit card.
  • In addition to being a resident or citizen, you also must be of age. The minimum age requirement is 18 years.

Required documents

  • Some form of identification needs to be provided and this could be your ID or drivers license.
  • The credit card provider will also require your personal and financial details to assess your credit rating and source of income.
  • If you receive government support and payments, you’ll need to provide your Centrelink Pension Card details.

Westpac Low Rate credit card is designed to ease the burden that comes with credit repayments. Compare other similar low rate credit cards to get the most value.

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661 Responses to Westpac Low Rate Credit Card – Rate and Fees

  1. Default Gravatar
    Andrew | September 14, 2016

    What amount am I able to transfer ?

    • Staff
      Anndy | September 14, 2016

      Hi Andrew,

      Thanks for your question.

      With Westpac Low Rate Credit Card, you can balance transfer up to 95% of your available credit limit.


  2. Default Gravatar
    Steven | September 7, 2016

    Hi there,

    I am Westpac existing customer and currently a Westpac holding a 55 days Platinum credit card with balance transfer. Just wondering will I still eligible for a balance transfer of this Low Rate Card?

    • Staff
      Ysa | September 20, 2016

      Hi Steven,

      Thanks for your question.
      Unfortunately, the 0% for 18 months balance transfer offer is only available to new approved Westpac customers.
      Since you are currently holding a 55 Day Platinum credit card, you may not be eligible for this offer.
      Should you wish to check for other credit cards with the same feature, please refer to this comparison guide on balance transfer credit cards.

      I hope this helps.


  3. Default Gravatar
    MP | August 15, 2016

    I am not a new customer. l have west pack c/c my card is no outstanding balance. can I do 18 month balance transfer from same card or do I need apply new card?

    • Staff
      May | August 15, 2016

      Hi MP,

      Thanks for your inquiry.

      A credit card balance transfer is essentially the process where you transfer the balance (any money you owe on your current credit card) to a new credit card with another credit card institution. Now if you do not have any outstanding balance on your current Westpac credit card, a balance transfer may not be necessary.

      Nonetheless, if you intend to have another credit card in addition to your Westpac credit card, then you can apply for a new card by reviewing the criteria and requirements before you submit any application.

      If you wish to apply for this Westpac Low Rate credit card, you may do so by clicking the ‘Go to site’ button to head over to Westpac’s website. Just be mindful though that you can’t do a balance transfer from your current card to this account.


  4. Default Gravatar
    | August 9, 2016

    We have used a westpac Credit card for many years $10500 limit. Since my husband went into a Nursing home last year (Dementia) I am having difficulty with repayments due to the interest rates. Would it be possible to transfer to a Low Rate Credit Card or have you any other suggestion please

    • Staff
      May | August 10, 2016

      Hi Norma,

      Thanks for your inquiry.

      Unfortunately, it’s not possible to transfer your balance from your current Westpac credit card to a Low Rate credit card that is also issued by Westpac. However, you can transfer your balance to a non-Westpac credit card and you can compare your options on this page.

      Just be mindful though that the total amount you can transfer onto the new credit card should not exceed your approved credit limit.

      Please make sure to review the criteria and requirements before you submit your application or yet get in touch with the bank to discuss your chances of approval. This way, you can avoid enquiries on your credit file and you’ll be able to keep it healthy. 

      I hope this is helpful.


  5. Default Gravatar
    tracy | August 2, 2016

    I have had 4 defaults on my credit file and its cleared off now, cause I waited the 5 years or more.. plus I paid the defaults in full.
    I order my credit file, there isn’t any defaults at all. I have had 3 credit enquires & 56 file access but this would of been in the last 5 or more years..
    I am not working, but I do have a pension card and payments and have 3 children..
    $2000 just under front income..
    I would like to apply and get approve for a credit card & I applied through my bank Commonwealth as I have account there..
    but I was not approved..
    Do you know why? I can’t get a credit card… only want under $2000 just for urgent use..& to built my credit file up..

    • Staff
      May | August 2, 2016

      Hi Tracy,

      Thanks for your comment and I’m sorry to hear about your declined application.

      It could be that you may not have met the eligibility requirements (like income, credit score, provided necessary documents, etc.) when applying.

      As your application just recently got rejected, it’s not a good idea to apply for another credit card right away as applying for multiple credit cards within a short span of time can negatively affect your credit score and decrease your chances of future approval. You may have to wait for a few months before you apply for a credit card again.

      In future, make sure to review the criteria and requirements before you submit your application or call the bank first to discuss your chances of approval. This way, you can avoid too many enquiries on your credit file and you’ll be able to keep it healthy. 


  6. Default Gravatar
    Janeen | July 16, 2016

    I have a gem visa card and a stgeorge vertigo card and would like to transfer the balance of both cards to have one payment monthly. Which lenders should I look at and would stgeorge bank consider a balance transfer if I upgrade to another card.

    • Staff
      May | July 21, 2016

      Hi Janeen,

      Thanks for your inquiry.

      If you want to transfer your balance from your Gem Visa and St. George Vertigo credit cards, make sure to choose a credit card that is not underwritten or issued by Gem and St. George. Generally, if you will transfer balances between credit cards of the same institution, your credit card application and BT request will surely be declined.

      So, which banks allow you to transfer balance to and from? You can actually get an idea from this article.

      Also, please note that when you transfer balances from two different cards to a single credit card, make sure that the total balance transfer amount should not exceed the credit limit that you’ll be approved for. You can actually check that information from the product disclosure booklet of the card.

      In the meantime, if you wish to check and compare your balance transfer credit card options, please feel free to visit this page.

      I hope this is helpful.


  7. Default Gravatar
    Biddy | July 14, 2016

    can i do a balance transfer from another bank if i have a low int westpac card already is it the same rate. and what is the best procedure?

    • Staff
      Anndy | July 15, 2016

      Hi Biddy,

      Thanks for your question.

      The promotional balance transfer rate for Westpac Low Rate Credit Card is only available if the balance transfer is requested at card application between 7 July 2016 to 11 October 2016. If you request for a balance transfer at any other time, the variable purchase rate applies.


  8. Default Gravatar
    Betty | July 4, 2016

    If I transfer eg $5000 from another card and after the 18 months 0% interest laps still owe $1000 of the original $5000 transferred, what will the interest rate be that I will be charged on the outstanding balance?

    • Staff
      Anndy | July 4, 2016

      Hi Betty,

      Thanks for your question.

      If after the 18-month period when the special promotion offer of 0% p.a. on balance transfers ends you still have a remaining balance on the amount you transferred, it will attract an interest rate of 13.49% p.a which is equivalent to purchase rate.


  9. Default Gravatar
    andy | February 12, 2016

    Can I transfer balance from my Coles master card to a new westpac master card? If my Coles balance is 2,500 can I apply for a new limit of 3000?

    • Staff
      Jonathan | February 15, 2016

      Hi Andy, thanks for your inquiry!

      Since the Westpac Low Rate credit card has a minimum credit limit of $10,000, a limit of $3,000 would be ineligible. You may like to compare other low rate credit cards which can have lower credit limits.



  10. Default Gravatar
    Rav | February 9, 2016

    Hi can i transfer balance from westpac low rate credit card to my partner card(commonwealth bank ) if yes then what will be the procedure ..thanks

    • Staff
      Sharon | February 9, 2016

      Hi Rav, thanks for your inquiry.

      Unfortunately, Commonwealth bank does not allow balance transfer between two people’s names. You may refer to this page to know which banks offer joint balance transfers.

      I hope this helps.


Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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