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Latest Information

Looking to apply for a new Low Rate MasterCard?

Our Low Rate MasterCard credit card is no longer available . See our full range of available credit cards.

Low Rate MasterCard holders

If you currently have a Low Rate MasterCard, nothing has changed. Existing benefits, features, fees and the conditions that apply are outlined below.

Essentials

Annual fee and interest free days

  • Currently $45. $0 annual fee for the first year on new cards when special promotion applies
  • Up to 55 days interest free on purchases when you pay the closing balance (including any promotional balance transfer amount) in full by the due date shown on your statement.

Variable interest rates

  • On purchases - 13.49% p.a.
  • On cash advances - 21.49% p.a.

Minimum credit limit

  • $1,000.

For more information, including the Consumer Credit Card Conditions of Use, see Consumer Credit Card - Conditions of Use. (PDF 151KB)

Features

Additional cardholder

  • Add one additional cardholder (16 years or older) at no extra cost
  • The account holder (primary cardholder) is liable for all transactions on these cards and their own card.

Contactless technology

For a fast and convenient payment option for purchases under $100 - simply hold your contactless card against the terminal wherever you see the contactless symbol or your card logo - no need to enter a PIN or sign (where available).

  • Now you can use your Samsung Galaxy S5, S4 or Note 3 (N9005) smartphone to tap and pay for everyday purchases.
  • Simply download the Westpac Mobile Banking app and choose which debit or credit cards you wish to use for mobile payments
  • To make a payment simply hold the back of your Samsung Galaxy S5, S4 or Note 3 (N9005) smartphone against the contactless terminal.

Card security

As well as an embedded microchip, take advantage of additional security measures helping defend against fraudulent activity:

  • Cardshield™
  • Register with MasterCard® SecureCode™ through the Westpac Added Online Security service
  • All mobile payments are backed by our Fraud Money Back Guarantee. Plus, you can choose to enter your mobile banking password each time you make a purchase for added peace of mind or disable mobile payments in your phone’s NFC settings at any time.

Fraud Money Back Guarantee

Cardholders will be reimbursed for unauthorised transactions, provided the cardholder didn't contribute to the loss and notified Westpac promptly. Refer to the T&Cs for full details of when cardholders may be liable.

Fees

Fees (these may change) Amount
Annual fee $45
Foreign Transaction Fee

A Foreign Transaction Fee is payable as a percentage of the Australian dollar value of any Foreign Transaction. The percentage will vary depending on the applicable credit card scheme:

1. Transactions in foreign currency

  • MasterCard®: 3.0%

2. Transactions in Australian dollars and the merchant or financial institution accepting the card is located overseas:

  • MasterCard®: 3.0%

Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia.

Cash advances/Withdrawal fee

An administrative charge of 2% of the value of the transaction will apply to each cash advance made on your card account, where your account has a negative (debit) balance after the transaction has been posted to it. A minimum charge of $2.50 and a maximum charge of $150 will apply in these circumstances.

Where your account has a positive (credit) balance after the transaction has been posted to it, a charge of $2.50 will apply to the transaction.

These charges will appear on your credit card statement directly below the relevant cash advance.

Missed payment charge A charge of $9 may be payable each statement cycle that the whole of the minimum monthly payment is not paid by the statement due date. If charged, the Missed Payment Charge will be debited to your account.
Over-limit fee If your card account was opened before 4 June 2012, a fee of $9 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.
Duplicate statement fee $7.50 may be debited from your credit card account if you, or an additional cardholder, orders a copy of a statement that has already been issued for your account. This fee is debited from your account on or after the day you order the duplicate statement.

Rates

Transaction Interest rates
Purchases 13.49% p.a. (variable)
Cash advances 21.49% p.a. (variable)

Details

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

Credit card repayment protection

Optional credit card repayment protection insurance helps cover your card repayment obligations if you lose your job, or are unfit for work due to sickness, injury, or disease.

Credit Card Repayment Protection Product Disclosure Statement (PDF 151KB)

This insurance is issued by Westpac General Insurance Limited ABN 99 003 719 319 (WGIL) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS) each of which is liable for separate risks under the terms of the policy. This product is distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The policy is not an investment in or deposit with the Bank. No Westpac Group company (other than the Bank as policy distributor and WGIL and WLIS as the product issuers) has any liability in connection with the policy or this document. The Bank does not guarantee payments under the policy.

For more information, including the Consumer Credit Card Conditions of Use, see Consumer Credit Card - Conditions of Use (PDF 151KB).

Contact us

Please feel free to contact us anytime on 1300 367 228

Things you should know

American Express® is a registered trademark of American Express. The Westpac American Express Card is issued by Westpac Banking Corporation pursuant to a license from American Express.

World MasterCard®, MasterCard® and the MasterCard brand mark are registered trademarks, and PayPass is a trademark of MasterCard International Incorporated.