Understanding credit cards
Cards Customer Service
Call Centre 1300 651 089
Credit Cards in general
Applying for a Westpac credit cardWestpac's commitments to customers as a responsible lender
Managing Your Credit LimitMaking Credit Card paymentsUnderstanding fees and chargesManaging financial difficultyBack to top 
Credit cards in general
What is a credit card?
Credit Cards are a payment mechanism and can be a convenient way of borrowing money. Many Financial Institutions issue credit cards by partnering with either MasterCard, Visa or American Express. MasterCard, Visa and American Express all provide a global payment network meaning their credit cards are an ideal way of paying for things across the world (although there may be some places where some or all of them are not accepted).
A credit card can be used to borrow money for purchases and cash advances, which if not paid in full each month will be carried over as an outstanding balance on your account. Interest is charged on your outstanding balance.
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How do credit cards work?- Credit Limit - You have a credit limit on your credit card. This is the maximum amount of credit that is available and you must always keep your outstanding balance within this limit.
- Purchases - You can use your credit card for purchases in person, over the phone or online.
- Cash Advances & Balance Transfers - You can use your MasterCard and Visa cards to withdraw cash against your credit card account. You can use your MasterCard, Visa and American Express cards to transfer outstanding balances from other credit cards.
- Monthly Repayment -You are required to make at least a minimum payment each month if your statement shows a closing balance. However, you should aim to pay off more than the minimum monthly repayment. You should aim to pay off more than the minimum monthly repayment because if you only pay off the minimum the balance will take longer to pay off and you will be charged interest.
- Interest - You will be charged interest on the proportion of your balance that doesn't get paid off in full as well as other specified advances and purchases at the specified annual percentage rates of your chosen credit card. Some credit card have different annual percentage rates for cash advances and for purchases, see latest rates.
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Why would I want a credit card?- Safe and convenient way to shop – Westpac credit cards are equipped with CardShieldTM, a suite of security features that help guard you against fraudulent activity when making purchases with your card. This includes Westpac's Online Transaction Security Guarantee which means you're not liable for the amount of any unauthorised online transaction on your card if you notify us of that transaction before the due date shown on your card account statement.
- Access to credit - And of course a credit card can give you access to funds to pay for things that are outside of your immediate budget. It is important to realise that credit through a credit card is a loan and needs to be paid back.
- Useful when travelling overseas – credit cards are a common payment method used across the world so can be a convenient way of paying for purchases when travelling overseas.
- Earn rewards for everyday spending - Some credit cards let you earn points for your purchases which you can redeem for a variety of rewards. Westpac offers a range of credit cards. Make sure you choose the right card for your needs, all are protected by CardShield.
- Helps avoid everyday transaction fees - If you are charged fees per transaction on your everyday transaction account, using your credit card for purchases and paying off your entire outstanding balance shown on your statement with a single direct debit on or by the statement due date can help to reduce these fees.
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Applying for a Westpac credit card
What type of credit cards do Westpac offer?
Westpac offers a range of credit cards:
Each card has different fees, interest rates and interest free periods and it is important that you make sure you choose a credit card that suits your needs. Compare the features of the Westpac credit cards.
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How do I apply for a Westpac credit card?
You can apply for a Westpac credit card: Back to top
What do I need to do to get approved for a Westpac credit card?
Westpac has a set of minimum requirements for a credit card: - You must be an Australian resident
- You must be 18 years of age or over
- You must earn a minimum income of $65,000 per annum for Platinum Cards, $50,000 per annum for Gold Cards and $15,000 per annum for all standard cards.
We then assess your application based on the information that you provide us so please make sure you complete your application accurately.
Please be aware that the application process also involves us getting a credit reference.
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How will I know if I've been approved for a Westpac credit card?
Once you've applied for a Westpac Credit Card, we will assess your application and let you know in writing or via email whether you've been accepted or declined for a credit card. This could take up to 10 days but is normally a lot less.
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After approval, when do I receive my new Westpac credit card?
Your new Westpac credit card will be sent to the branch you indicated on your application.
You may be required to take additional documentation to the branch to verify your identity and income.
If this is required, we will notify you in writing at the same time we tell you if you've been approved.
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Westpac's commitments to customers as a responsible lender
At Westpac we are committed to responsible lending practices. Please visit our Responsible Lending principles site for more detail.
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Managing Your Credit Limit
What are the maximum and minimum credit limits that Westpac provide?
| Product Type | Maximum Limit | Minimum Limit |
| Platinum Credit Cards | $100,000 | $8,000 |
| Gold Credit Cards | $50,000 | $5,000 |
| Other Credit Cards | $30,000 | $1,000 |
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How do I decrease my credit limit?
If you ever want to decrease your credit limit, call us on 1300 651 089 and we'll do it for you straight away. It may be useful to consider decreasing your credit limit to help you manage your monthly credit card spend.
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How do I increase my credit limit?
If you would like to apply for a credit limit increase: If your account is in good order, Westpac may from time to time invite you to apply for a credit limit increase to provide you greater flexibility in how you manage your finances. When making such an invitation, we will take into account how you are managing your current repayments, and any recent credit limit changes to your account. You can use this as an opportunity to accept the invitation, or to specify a preferred limit lower than the offered limit.
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How much credit can I get?
We will always undertake an assessment of your financial situation to ensure that we feel comfortable increasing your limit but it is important that you also assess how large a credit limit you are comfortable having. The types of credit limits available by card type are outlined in the table above.
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Making Credit Card Payments
What is the minimum repayment amount and when do I need to make this payment?
You need to make a monthly payment to your credit card. Your monthly statement always advises when this payment is due and the minimum payment required.
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Can I change my statement date?
If it will help you to better manage your finances, we can move your statement date so that it coincides with when you get paid. To change your statement date, call us on 1300 651 089.
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How do I make a payment?
There are a number of options available for paying your credit card: - If you are a Westpac customer and want to pay from your Westpac transaction account, you can transfer funds via telephone banking on 132 032, internet banking or via our ATMs;
- You can pay by BPAY through any bank's telephone or internet banking facilities;
- You can send us a cheque to Cards GPO Box 4220 Sydney NSW 2001. Please make sure you send us the top of part of your statement with your cheque; or
- You can visit a branch. Please make sure you take the top part of your statement with you to the branch.
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Can I automate my payments?
You can set up an Autopay to automate your credit card payments. Autopay will automatically take a payment from available funds from your nominated account for a set percentage of your outstanding balance (at a minimum this needs to cover your minimum repayment), a set amount or the full outstanding balance. Find out more about Autopay and how to apply.
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How much should I aim to pay off each month?
If you don't pay off your full outstanding balance, you will incur interest charges. Cash advances incur interest charges from the date of transaction.
Credit cards can provide a convenient way to borrow money but you need to be responsible with your repayments to ensure you're not getting yourself into too much debt.
There may be times when you can only afford to make your minimum repayment but we strongly recommend that you aim to pay off more than your minimum repayment.
If you just rely on paying your minimum repayment, it may take years to pay off your outstanding balance and you will have incurred extra cost in interest charges.
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Understanding fees and charges
Depending on which card you choose fees and charges may be payable during the life of your account. Examples of fees include:- Cash advances
- Foreign currency transaction fee
- Duplicate statement fee
- Missed payment fee
- Over-limit fee
When selecting a new credit card, make sure you choose the type of credit card that best suits your needs.
For existing Westpac credit card customers, the fees applicable to your account were disclosed in the Financial Table on your welcome letter when your received your credit card approval.
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When do I get charged an overlimit fee?
If you do spend more than your credit limit, you will be liable for an overlimit fee every time you exceed your credit limit during a statement cycle. Please see our current interest rates and annual fees. To help to try to avoid paying an overlimit fee, make sure you are checking your outstanding balance on a regular basis and if you are close to your limit make an interim payment to reduce the risk of you exceeding your credit limit on future spending that month.
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When do I get charged a missed payment fee?
If we receive your payment after your due date, you will be liable for a missed payment fee. To avoid paying a missed payment fee, you need to make sure we receive your payment before your due date. The best way to ensure this happens every month is to set-up an Autopay for at least your minimum monthly repayment.
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Managing financial difficulty
I can't afford to make my credit card payment, what should I do?
If you are ever in the situation where you can't afford to make your credit card payment, please contact us immediately on 1300 651 089. We want to help you if you're in difficulty and the sooner we know about your situation the easier it is for us to help you.
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Where can I get advice about managing my finances?
Anyone can experience financial problems at any time and for any number of reasons. Whether it's from expected or unexpected circumstances, Westpac has an important service for customers facing problems in relations to their Westpac loans or accounts called Westpac Assist. This service is available by calling 1800 067 497, 8am to 8pm AEST, Monday to Friday.
There are independent not-for-profit financial counselling services available around Australia that can provide you with assistance at no cost.
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