Key facts about these credit cards | Westpac

Key facts about these credit cards

Current as at: 1st April 2020

This information sheet is an Australian Government requirement under the National Consumer Credit Protection Act 2009

Description of credit cards

Product Name	Altitude Platinum Card	Altitude Black Card	Low Fee Card	Low Fee Platinum Card	Low Rate Card	Westpac Lite Card
Minimum credit limit	$6,000	$15,000	$500	$6,000	$500	$500
Minimum repayments	2% of the closing balance outstanding, or $10; whichever is greater. If the closing balance is less than $10, it must be paid in full.	2% of the closing balance outstanding, or $10; whichever is greater. If the closing balance is less than $10, it must be paid in full.	2% of the closing balance outstanding, or $10; whichever is greater. If the closing balance is less than $10, it must be paid in full.	2% of the closing balance outstanding, or $10; whichever is greater. If the closing balance is less than $10, it must be paid in full.	2% of the closing balance outstanding, or $10; whichever is greater. If the closing balance is less than $10, it must be paid in full.	2% of the closing balance outstanding, or $10; whichever is greater. If the closing balance is less than $10, it must be paid in full.
Interest on purchases	20.49% p.a.	20.49% p.a.	20.09% p.a.	20.09% p.a.	13.74% p.a.	9.90% p.a.
Interest free period on purchases	Up to 45 days¹	Up to 45 days¹	Up to 55 days¹	Up to 55 days¹	Up to 55 days¹	Up to 45 days¹
Interest on cash advances	21.49% p.a.	21.49% p.a.	21.49% p.a.	21.49% p.a.	21.49% p.a.	Cash advances are not available
Promotional purchase rate	n/a	n/a	n/a	n/a	n/a	n/a
Balance transfer interest rates	6.99% p.a. for 12 months on balance transfers requested at new card application. Rate then switches to variable cash advance rate.²	6.99% p.a. for 12 months on balance transfers requested at new card application. Rate then switches to variable cash advance rate.²	6.99% p.a. for 12 months on balance transfers requested at new card application. Rate then switches to variable cash advance rate.²	6.99% p.a. for 12 months on balance transfers requested at new card application. Rate then switches to variable cash advance rate.²	0% p.a. for 16 months on balance transfers.** Plus, no balance transfer fee. Requested at card application, the variable cash advance rate will apply after the promotional period.	Balance transfers are not available
Annual card fee	$150 plus a separate $50 Rewards Fee charged annually (applicable only when the Altitude Qantas rewards program is selected).	$250 plus a separate $50 Rewards Fee charged annually (applicable only when the Altitude Qantas rewards program is selected)	$0 in first year $30, waived in subsequent years when you spend $5,000 or more on purchases in each 12 months from the anniversary date of the first transaction on your account.*	$0 in first year $90, waived in subsequent years when you spend $10,000 or more on purchases in each 12 months from the anniversary date of the first transaction on your account.*	$59	$108 ($9 each month)
Late payment fee	$15	$15	$15	$15	$15	$0
Things you should know Be credit savvy: Before applying, consider a realistic credit limit and check all conditions, interest rates, fees and charges on your selected card. *Balance transfer promotion: This offer is available when you apply for a new Low Rate credit card between 1st April 2020 and midnight 5th August 2020, and request at card application to transfer balance(s) from up to 3 non-Westpac Australian issued credit, charge or store cards. A balance transfer fee of 0% applies to the transferred balance(s). The promotional rate will apply to balance(s) transferred (min $200 up to 80% of your approved available credit limit) for the promotional period. Activating your card triggers the processing of the balance transfer. The applicable variable cash advance rate will apply to any unpaid balance transfer amount remaining at the end of the promotional period. Westpac will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the 'Monthly Payment Balance' listed on your statement of account (not the full closing balance) by the relevant payment due date. Low Fee annual card fee waiver: $0 annual card fee is available for the first year and every year afterwards when you apply for a new ‘Low Fee’ or ‘Low Fee Platinum’ credit card. To qualify, you must meet the spend criteria on eligible purchases ($5,000 or more for a Low Fee card / $10,000 or more for a Low Fee Platinum card) in each 12-month period, starting from the date you made your first transaction. 1. Interest free period is available on purchases when you pay the Closing Balance (or the Monthly Payment Balance with a balance transfer) in full by the payment due date. 2. The balance transfer rate is available when you apply for a new Low Fee, Low Fee Platinum, Altitude Platinum or Altitude Black credit card and request at card application to transfer balance(s) from up to 3 non-Westpac Australian issued credit, charge or store cards. The balance transfer rate will apply to balance(s) transferred (min $200 up to 80% of your approved available credit limit) for a period of 12 months, unless the amount is paid off earlier. Card activation will trigger the processing of the balance transfer. The applicable variable cash advance rate will apply to balance(s) transferred but left unpaid at the end of the promotional period. Westpac will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.Westpac is the credit provider and credit licensee under National Consumer Credit Laws. For more information on choosing and using credit cards visit the ASIC consumer website at www.moneysmart.gov.au