Low Rate Card
Why choose the Low Rate card?
- Get a low variable rate of 13.74% p.a. on purchases.
- Withdraw cash at a variable rate of 21.49% p.a.
- A low annual card fee of $59
- Up to 55 days interest free on purchases when you pay the Closing Balance (or the Monthly Payment Balance with a balance transfer) on time.
0% p.a. for 16 months on balance transfers
Pay no interest for 16 months on balance transfers requested at card application. No balance transfer fee. After 16 months, the rate reverts to the variable cash advance rate.**
How does a Westpac credit card help me?
Westpac Extras includes great shopping cashback offers that work on top of any other discounts. Simply use your card as normal and we'll credit your account. No codes, no coupons, all-easy.
Plan smarter repayments
Use our SmartPlan repayment planner to break large purchases or balances down into regular instalments while keeping interest-free days.4
Track your spending easily
Adjust payment limits, place your card on hold and track your balance quickly and easily using the Mobile Banking app.
Know what to pay when
Frequently asked questions
SmartPlan helps you stay on top of large purchases and balances by breaking them down into regular installments.1
Credit card balance SmartPlan
Turn any of your outstanding purchase, cash advance or promotional plan (e.g. balance transfer) balances of $200 or more into a SmartPlan. The purchase balance SmartPlan type is currently available at a lower interest rate.2
Large purchase SmartPlan
Create a large purchase SmartPlan to help you pay off an individual ‘big ticket’ item of $500 or more that you’ve bought on your card in the last 30 days – think purchases such as a flight, hotel bill or even a new fridge. Large purchase SmartPlans are currently available at a lower interest rate.2
The security of your card and information is extremely important to us. We have a range of security measures in place to ensure that your account is protected, including online. Westpac Added Online Security provides extra peace of mind when shopping online at participating retailers.
We also have your back if something does go wrong. Our Fraud Money Back Guarantee ensures that customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly.
|Annual card fee||$59|
|Foreign transaction fee||
Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia. More about this fee.
|Cash advance fee||
If the card has a negative balance after the transaction: 2.0% or $2.50, whichever is higher (max. $150).
If the card has a positive balance after the transaction: $2.50
These charges will appear on your statement directly below the relevant cash advance.
|Duplicate statement fee||$2.00|
|Missed payment charge||$15 each statement cycle that the minimum monthly payment is not paid by the statement due date.|
|Non-Westpac Group ATM fee||Although not a Westpac fee, using your card in a non-Westpac Group ATM may result in a charge to you. Avoid this fee by using one of Westpac’s extensive network of 2,900 ATMs across Australia (including any St.George, BankSA and Bank of Melbourne ATMs). Find a Westpac Group ATM.|
|Credit card surcharge||In some instances, businesses may administer a ‘surcharge’ for credit card payments. Usually, these are a percentage fee of your purchase amount. Ask the merchant if a surcharge applies and how much it is before paying if you’re unsure.|
|Over-limit fee||If your card account was opened before 4 June 2012, a fee of $15 may be debited from your credit card account every time you exceed your credit limit during a statement cycle. It is debited from your account in that statement cycle, on or after the day(s) your credit limit is exceeded. This fee may also be charged whenever your account is over limit at the commencement of a statement cycle.|
COVID-19 and credit card applications
Important information regarding credit card applications
The impact of COVID-19 means we are experiencing long lead times to process the applications of those who do not currently have an account with us. Current customers may also experience delays. Please read the ‘Before you apply’ section below carefully before applying.
Before you apply
To improve the likelihood your application is approved and in a timely manner, please read this section carefully before applying.
As part of reviewing your application we look at the information on your credit report, which is produced by an independent credit bureau. This report shows a snapshot of your liabilities, available credit, and your repayment behaviour for these accounts. To learn more about credit reporting in Australia visit www.westpac.com.au/ccr.
It’s a good idea to view your own credit report and check your details are correct before starting your application. You can do this for free by visiting the credit bureau website directly, or via CreditSmart.org.au. We work with three bureaus: Equifax, illion and Experian, so you might like to check the report produced by each of them.
Before starting your application, make sure you have everything in the list below:
If you’re an existing Westpac customer, you’ll also need to:
Any errors in the details you provide could delay your process, or even mean you are declined. Again, checking against your credit report can help here.
Every time you apply for any form of credit, your credit history is checked by the credit provider. This is listed as an enquiry on your report. Multiple applications can be seen as a red flag and reduce your chances of approval.
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.
**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.
1 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 available at westpac.com.au. 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 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.
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