Credit Card Repayment Protection

What if you can’t make your credit card repayments?

Credit cards are a great lifestyle convenience. But if you were to become sick or injured and can’t work or suddenly lose your job, that debt could quickly get out of control.

Having Credit Card Repayment Protection helps cover your repayments, so you’ll have one less thing to worry about.

• Get up to 6% of your balance owing paid each month if you unexpectedly lose your job, for up to 180 days or until you return to work, which ever happens first
• Get up to 6% of your balance owing paid each month while you’re sick or injured and can’t work
• Have the balance owing paid off up to $50,000 if you pass away (so loved ones aren’t left with this debt).

Of course, like all insurance, some exclusions, limits and conditions apply. For example, if you voluntarily resign or accept a voluntary redundancy you aren’t covered for job loss. Also, if you were not working at least 15 hours or more per week when you became unfit for work, you will not be covered. 

Credit card repayment protection is easy to arrange

To apply for cover when you apply for a new credit card:

• Visit westpac.com.au/creditcards
• Call 1300 651 089

To add cover to an existing credit card:

• Click on the Apply now link below
• No medical examination required to apply¹
• You don’t pay more because of your age, job, or health record
• You can claim even if you are entitled to benefits from another source, such as workers compensation, sick leave or Centrelink.

¹ Please note:  An exclusion applies for sickness, injury or disease occurring within 180 days of the commencement date for which you sought or obtained medical advice or treatment during the 180 days prior to the commencement date.

The lower your balance, the less it costs

Credit Card Repayment Protection costs 52 cents for every $100 owing on your monthly balance, and is:

• Calculated on the balance owing at the end of each statement cycle when your monthly statement is produced
• Automatically added to your credit card balance each month.
  
  

Lodging a claim is simple

• For Unemployment and Job Loss claims, download the Unemployment/Job Loss Claim form (PDF 128KB) or complete the Online Unemployment/Job Loss Claim form
• For Unfit for Work claims, download the Unfit for Work Claim form (PDF 120KB)
• Alternatively, you may visit a branch to collect and lodge a claim form.

Information needed when initially making a claim
 

What happens after you claim?

You'll be contacted within 10 working days to either:

• Confirm if your claim has been accepted, or
• Request additional information to help reach a decision on your claim.

Need claim help?

If you have any questions, or would like help completing the claim form, call 1300 369 989.
(8.45am - 5pm, Mon-Fri AEST/AEDT)