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Making credit card repayments

Whenever you have a closing balance showing on your credit card statement, you’ll be required to make a minimum payment each month. There are a number of convenient ways you can make payments to your card account that could suit your needs.

How much will I have to pay every month?

If you do not wish to pay the full amount of the closing balance shown on your statement every month, you need to pay at least the minimum payment shown on your statement by the due date.

Your monthly statement will let you know how much your minimum monthly payment will be and when it’s due.

Your minimum payment will be:

  • 2% of the closing balance (rounded to the nearest dollar) or $10, whichever is greater; and
  • The greater of any unpaid past due amounts from previous statements or any amount that exceeds your credit limit.

If your closing balance is less than $10, then you must pay the full amount.

How do I make a payment?

You can take the hassle out of making credit card repayments by setting up an automatic payment from an Australian savings or transaction account to pay your credit card each month. You can choose to pay:

Paying your credit card with Card Autopay

You can take the hassle out of making credit card repayments by setting up an automatic payment from an Australian savings or transaction account to pay your credit card each month. You can choose to pay:

  • The full closing balance
  • The minimum payment due each month, as shown on your monthly credit card statement
  • A percentage of the closing balance^
  • A set amount of the closing balance^.

How to set up Card AutoPay

To set up Card Autopay from your own Westpac account to your credit card:

  • Sign in to Online Banking, and complete the online application (available for customers with a transaction account in their sole name.  Coming soon – online setup from joint accounts and home loans with redraw).
  • Call us on 1300 130 961 (8am-8pm, 7 days a week).

If you’re setting up Card Autopay from a non-Westpac account, fill in the Card Autopay Request form (PDF 78KB) and take it to any Westpac branch (don’t forget your ID).

Other ways to pay your credit card account

  • Pay using BPAY®
  • Pay from your Westpac transaction account by transferring your funds
  • Pay at a Westpac branch.

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.

Call us on 1300 130 961 to change your statement date.

How much should I aim to pay off every month?

If you don't pay off your full outstanding balance, you will incur interest charges. Credit cards are a convenient way to borrow money but you need to be responsible with your repayments to ensure you don’t get yourself into too much debt.

We strongly recommend that you aim to pay off more than your minimum repayment. If you rely on paying only your minimum repayment, it may take years to pay off your outstanding balance and you will have incurred extra costs in interest charges.

Credit card repayment insurance

You can protect yourself should the unexpected happen by taking out credit card repayment insurance. This can help you pay your credit card repayments if you:

  • Lose your job
  • Become unfit for work due to sickness, injury or disease
  • Die - it will pay the balance owing on your card (up to $50,000).

Credit card repayment insurance costs 52 cents for every $100 owing on your credit card. The monthly premium is calculated on the balance owing on your credit card at the end of each statement cycle.

Find out more about credit card repayment insurance.

What if I’m having trouble keeping up with my payments?

If you’re experiencing financial hardship, it’s a good idea to get in touch with us as soon as possible.

Experiencing financial difficulties

Things you should know

If the Card Account is a FAI Home Loans Visa Card Account, you must pay the full amount of the closing balance shown on your statement each month by the due date.

^ 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”.

Important: Applications for credit are subject to Westpac's normal lending criteria.

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.