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Credit card interest rates

IMPORTANT NOTICE: From 20 June 2024, some of our credit card rates will increase, find out more.

When researching the best credit card for your needs, you should compare credit card rates while weighing up the benefits of other features on offer.

If you don’t usually pay off your balance in full each month, look for a card with a low purchase rate.

Rewards cards and low annual fee card generally have higher purchase rates in exchange for earning points, travel and lifestyle benefits or a lower annual fee. However, you may be able to take advantage of interest free days on purchases if you pay your balance in full by the statement due date each month.


Card Special balance transfer rate Purchase rate (variable) Cash advance rate (variable)
Westpac Lite Balance transfers not available
9.90% p.a. Cash advance not available
Flex Card Balance transfers not available 0% p.a.*  Cash advance not available
Low Rate See product pages for ‘Special Offers’. 13.74% p.a. 21.49% p.a.
Altitude Platinum See product pages for 'Special Offers'. 19.99% p.a. 21.49% p.a.
Altitude Black See product pages for 'Special Offers'. 19.99% p.a. 21.49% p.a.
Low Fee See product pages for ‘Special Offers’. 19.74% p.a. 21.49% p.a.

About credit card interest rates

Interest is charged daily on any outstanding balance, so it’s important to know the different types of credit card rates and how they will impact your balance.

Purchase rate

This is the interest rate you pay on purchases made with your card, expressed as a variable rate per annum. The rate applies for example, to purchases made in-store and online.

Cash advance rate

The cash advance rate is what you are charged when, for example, you use your credit card to withdraw cash from an ATM. Note that cash-equivalent purchases, like loading a travel money card, are also charged at the cash advance rate. The variable cash advance rate will almost always be higher than the purchase rate and interest free days do not apply.

Balance transfer rate

The balance transfer rate is usually a low rate offered to customers transferring balances from an existing non-Westpac store or credit card to a new Westpac credit card. Taking advantage of balance transfer offers can be a good debt consolidation strategy.

Learn more about how interest is calculated and making the most of interest free days.

Things you should know

*Monthly fee waiver: Flex Card has a flat Monthly Fee. The Monthly Fee is charged to your Flex Card Account each month and once it is charged it forms part of your balance. This Monthly Fee will, subject to the Flex Card Terms and Conditions, be waived if you pay off the Closing Balance shown on your previous statement by the payment due date shown on your statement.