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Westpac Low Rate credit card

Low Rate Card

  • 13.74% p.a. variable purchase rate
  • 21.49% p.a. variable cash advance rate
  • $59 annual card fee
  • $500-$50,000 credit limit.


Special balance transfer offer

0% p.a. for 24 months on balance transfers requested at card application**. 1% balance transfer fee applies. After 24 months the rate reverts to the variable cash advance rate.


Plus, $200 cashback with $1k minimum spend+


Conditions, T&Cs apply.

Westpac Lite credit card

Westpac Lite Card

  • 9.90% p.a. variable purchase rate
  • No cash advances
  • $9 monthly card fee
  • $500-$4,000 credit limit.


Extra value

Shopping or travelling overseas? Pay no fees on foreign transactions.

0% p.a. balance transfer for 24 months with a Low Rate Card

1% balance transfer fee applies. After 24 months any remaining balance transfer amount reverts to the variable cash advance rate**.

T&Cs apply. Find out more

What are low rate credit cards?

If you’re after a low rate credit card, check these out. The key benefit is a low ongoing interest rate that’s charged on purchases, known as the ‘purchase rate’. Note there’s also a separate ‘cash advance rate’ (e.g. for withdrawing cash from an ATM), which is likely to be higher. Want to know more? Compare Westpac’s Low Rate Cards – Westpac Lite Card or Westpac Low Rate Card.

How to compare low rate credit cards

When you compare low interest rate credit cards, think about how you’d use it to decide what’s important to you.  Some key factors to consider include purchase rate, cash rate (for drawing cash directly), annual card fee, and the number of interest-free days. Also you may want to consider special offers as well as tools (such as Westpac’s SmartPlan1) that could help with money management.

Pros and cons of low rate credit cards

Pros: A low interest rate on purchases; usually a lower annual fee than a rewards card; for Westpac card customers, you can pay down debt with SmartPlan1 and also set up Autopay to help you never miss a payment.  

Cons: To get the lower purchase rate you forego some ‘extras’ like complimentary insurance or rewards points.

Things you should know

Credit criteria, fees and charges apply. Switches, upgrades or Westpac group staff are ineligible.

This promotion may be varied or withdrawn at any time and is not available in conjunction with any other promotion.

Be credit savvy: Before applying, consider a realistic credit limit and check all conditions, interest rates, fees and charges on your selected card.

+Cashback promotion: The cash back offer is available when you apply and are approved for a new Low Rate credit card between 12th November 2020 and 31st March 2021 and spend $1,000 on eligible purchases within 90 days of card approval. Eligible purchases do not include interest, fees and charges, cash, or ATM cash advances, cash equivalent transactions, gambling transactions, payments to the Australian Tax Office, government charges, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited from the card account. The $200 cashback will be paid as a statement credit to your Low Rate credit card account within 90 days of meeting the minimum spend criteria. If you currently hold, or have held Westpac Low Rate credit card in the last 12 months you are not eligible for this offer. This offer is available with a balance transfer promotion at card application. These promotional offers are not available if you apply under the Westpac Premier Advantage Package.

**Low Rate Balance transfer promotion: This offer is available when you apply for a new Low Rate credit card between 12th November 2020 and 31st March 2021, 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 1% will apply to balance(s) transferred to a new Low Rate credit card. The balance transfer fee will be charged to the card account on the same day the balance(s) are debited to the account. 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. These promotional offers are not available if you apply under the Westpac Premier Advantage Package.

SmartPlan: SmartPlan is currently available for all Westpac consumer credit cards. Fees may apply. You need to register for Online Banking before you can set up a SmartPlan. Read the Online Banking terms and conditions (PDF 277KB) available at The establishment fee is charged upfront but is payable in monthly instalments over the term of your Large Purchase SmartPlan. This means that if you cancel your SmartPlan (or don’t make the required SmartPlan repayments) you must still pay the whole establishment fee, including any interest on the establishment fee. SmartPlan requires cardholders to make regular monthly payments for the full term and at the interest rate that applies when the SmartPlan is created. All payments made to your credit card account will be applied first to any SmartPlan instalments. Therefore, debts accruing a higher interest rate may be left unpaid during the SmartPlan term. Any balance transfer amounts on a SmartPlan must have a remaining term of between 3 and 36 months to be eligible for a SmartPlan. See Credit Card Terms and Conditions (PDF 200KB) for more details. SmartPlan cancellation takes up to 2 business days. When a SmartPlan ends, any remaining balance will revert to the variable annual interest rate for your balance type or special offer rate as applicable. Cardholders keep interest-free days (if applicable) after a balance transfer when you pay your monthly payment (being your SmartPlan repayments plus the minimum monthly repayment on your credit card account) SmartPlan repayment.

Autopay: A fixed dollar or percentage of your monthly credit card statement “closing balance” will be paid. If the “closing balance” is less than your nominated amount, only the “closing balance” will be paid. If your nominated amount falls below the “minimum payment due”, Westpac will debit the “minimum payment due”.

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