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 20% 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 20% 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. 

Who can apply?

You are eligible to apply for Credit Card Repayment Protection if, in summary, you are:

• a Westpac consumer credit card account holder,
• aged 18 to 65 years old (inclusive), and
• employed, and working for at least 15 hours per week in that employment for payment.

For further details refer to the Credit Card Repayment Protection Product Disclosure Statement (section 2.3, on page 10).

Credit Card Repayment Protection is easy to arrange

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

• Visit westpac.com.au/creditcards

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 130KB) or complete the Online Unemployment/Job Loss Claim form
• For Unfit for Work claims, download the Unfit for Work Claim form (PDF 138KB)
• 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)