Business credit card rates

How to choose a business credit card

When researching the best business credit card for your business's needs, you should compare credit card rates while weighing up the benefits of other features on offer. Read more about the benefits of business credit cards for businesses.

If you don’t usually pay off your balance in full each month, look for a card with a low purchase rate.

Rewards cards generally have higher purchase rates in exchange for earning points, travel and business benefits. However, you may be able to take advantage of interest free days on purchases if you pay your balance in full by the statement due date each month.

Compare interest rates

About credit card interest rates

Interest is charged daily on any outstanding balance, so it’s important to know the different types of credit card rates and how they will impact your balance.

Purchase rate

This is the interest rate you pay on purchases made with your card(s), expressed as a variable rate per annum. The rate applies for example, to purchases made in-store and online.

Cash advance rate

The cash advance rate is what you are charged when, for example, you use your credit card to withdraw cash from an ATM. Note that cash-equivalent purchases, like loading a travel money card, are also charged at the cash advance rate. The variable cash advance rate will almost always be higher than the purchase rate and interest free days do not apply.

Balance transfer rate

The balance transfer rate is usually a low rate offered to customers transferring balances from an existing non-Westpac store or credit card to a new Westpac credit card. Taking advantage of balance transfer offers can be a good debt consolidation strategy.

Learn more about how interest is calculated and making the most of interest free days.