Westpac Low Rate Credit Card

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Card features
balance transfer
purchase rate
annual fee
Money saved
Westpac Low Rate Credit Card
Apply by 31 jan 18
43 reviews
0% p.a. for 20 months on balance transfers. (2% balance transfer fee applies). Reverts to variable cash advance rate.
An annual fee of $59.
Up to 55 days on purchases
Add to comparison
20 months
0% p.a.
then 21.49%
with a 2% fee
13.49% p.a.

Pros & cons

What's good?

What's not so good?

0% p.a. for 20 months on balance transfers. (2% balance transfer fee applies). Reverts to variable cash advance rate.
Enabled with Visa payWave technology for faster PIN-less purchases under $100.
Low minimum income threshold of $15,000 needed for eligibility.
Know if you’ve been approved with the quick 60 second online application.
852 branches and phone support in Australia.
The balance transfer offer is for new card applications only.
Small annual fee of $59 p.a.
2% balance transfer fee.

Our review

Our review of the Westpac Low Rate Credit CardReviewed by Yvonne Taylor

In the world of credit cards, 'low rate’ is a relative term. Credit card interest rates are never going to be as low as bank personal loan or overdraft rates. So, although the ongoing purchase interest rate on the Westpac Low Rate Credit Card is not low in absolute terms, and is certainly not as low as that of some of its competitors, it’s still low enough for the infrequent user of credit beyond the normal interest-free days. Bundled into a package from one of the Big Four, offering zero-interest balance transfer and purchase periods, a high level of card security and access to over 1,400 branches and 3,850 ATMs nationwide, this card begins to look like a realistically competitive proposition.

0% p.a. for 20 months on balance transfers

For those who have temporary financial problems and need time to sort them out, a zero-interest balance transfer can be a godsend. Exorbitant interest rates on existing card balances can be avoided by transferring them to this card, and 20 months of breathing space should be long enough for a short-term debt situation to be turned around.

If it’s likely to take more than 20 months to sort out, it’s a long-term problem, and once again credit card debt is not the solution but just something that will make a bad situation worse. The penalty for not clearing your debt after 20 months is the revert interest rate of 13.49% p.a. Fortunately, this is the ongoing purchase interest rate, not the cash advance rate (21.49% p.a. in this case) which some cards apply to uncleared balance transfers.

Don’t ignore the balance transfer offer, even if you don’t actually need it

Perhaps your financial affairs are well under control. This doesn’t mean that you can’t make use of an interest-free balance transfer. The major purchase that you have been planning for some time now – maybe new furniture or the latest technology – could be made on your existing card just before you transfer the balance. This will give you 20 months to squirrel away the repayments in a savings account (thus earning a little interest) so that you can clear the balance before it starts to accrue interest charges.

Cutting-edge protection and digital capability

The card’s functionality and security does not begin and end with the piece of plastic in your wallet. Here are just some of the ways in which Westpac is employing the latest technology to keep you safe and informed when using your card account:

  • Embedded chip for extra card security.
  • Visa payWave enabled, for speeding through the checkout when a transaction is below $100.
  • Not just internet banking, but totally mobile banking with the Westpac Mobile Banking app and optional fingerprint sign-in. Use your phone to Tap and Pay, or for a quick account balance, or to temporarily lock your card if you lose it.
  • Complimentary mobile alert service: 24/7 SMS balance alerts and payment reminders, to avoid unnecessary fees and interest charges.
  • 'Verified by Visa’ sends a one-time password by SMS for secure authentication when you shop online.
  • Fraud Money Back Guarantee – ensures you are reimbursed for any fraudulent transactions that were not your fault, provide they are promptly notified to Westpac.

Annual fee $59 p.a.

Although $59 p.a. is not a particularly high fee (and there’s no additional charge for a supplementary card), you may wonder why you are paying any fee at all for a card with no rewards points or complimentary insurance.

What you are paying for is the backing of a Big Four bank, with branches and ATMs almost everywhere you go, and the confidence that the card is protected by state-of the-art security as well as powered by the latest technology. It’s comforting to know that when the technology advances, so will your card’s features.

Reasons to choose the Westpac Low Rate Credit Card

If you’re looking for a low-rate, secure and technologically-proficient credit card backed by a financial giant, with possibly the best combination of introductory interest rates on balance transfers and a low purchase rate to boot, you cannot go wrong with this offer.

User reviews

3.7 out of 5.0 based on 43 reviews81% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Overdrawn fees a bit high

Reviewed and recommended by Heather on 02 Aug 2016

It’s a great card but some of the fees are a bit high like when you are slightly overdrawn. It is a great starter card for anyone who is after a first credit card. It would be great if the overdraft fees weren’t more than your monthly interest payment as then it wouldn’t get overdrawn so much.

Completely satisfied with my card

Reviewed and recommended by Maja on 31 Aug 2016

I am very satisfied with all components of my card. The rates aren’t too high and are pretty competitive on the market. The customer service is excellent and any questions or problems that I have are resolved almost immediately. I would definitely recommend this card to anyone, and do on a daily basis.

Great for cashless travel

Reviewed and recommended by Sd on 26 Jun 2016

MasterCard works everywhere and is handy to have for secure online purchases, offering peace of mind knowing you are covererd by Westpac for fraudulent transactions and / or any card discrepancies.

Can even be used if you leave your card at home via mobile phone contactless and code for cash out at ATMs.

Very satisfied

Reviewed and recommended by Renee Kruiz on 10 Oct 2014

I applied for this card to use on our honeymoon in New Zealand in August 2013. It was so great that I could use my card at Westpac ATMs over there without additional fees. I loved having the freedom to access my money everywhere we went the whole time we were away.

No rewards, but low rates

Reviewed and recommended by Anon on 25 Jul 2013

I have had this card for about 6 years, no rewards are linked to this card. But the rates are low. A few years ago I dropped it in my local area and the bank gave me another card. But about 3 or 4 months later I received a text from the bank that my card was used in America. But the transaction did not go through because they knew I was in Australia. They issued me with a new account numbered card. Don’t lose your card you never know where it could end up!!! And if you miss a payment they will call or text you this is very handy if you forget. Great customer service I cannot fault them.

Generally pleased with my Westpac credit card

Reviewed and recommended by Anonymous on 08 Aug 2013

I have this card to access emergency cash when its needed,the rates and fees are generally the same as others,the bank does not slug me late fees,its easy to check balance on internet banking or with bank app and i have trusted westpac for years never had any problems and they have never let me down but do wish they offered some sort of rewards system for using the card

I transferred my credit card debt

Reviewed and recommended by Synth on 19 Jul 2015

Westpac Low Rate Visa credit card gave me 12 months interest-free to help me reduce my debt. I have been able to pay off my actual debt instead of paying interest.

The card is easy to use, has 55 days interest-free on purchases, and has payWave. Will shop around again when the interest-free period is about to expire.

Great benefit to me

Reviewed and not recommended by Patrick on 03 Jul 2016

This card has been a great benefit to me. It’s very convenient and has saved me a lot of time. I also feel like Westpac is a company I can trust based on the past experiences I have had with them. The rewards, however, are definitely lacking and there are often fees incurred when I do not have enough money in my account.

My credit card and what it means to me

Reviewed and recommended by Bex on 08 Sep 2014

I cannot say I am completely happy, however the overall service has been great over the last 21 years. I find the rate to be lower than most of the major banks, which helps me keep costs low in this financial down turn which is very important. I also find the bank to have fantastic service and the tellers are always helpful whenever I go to the bank. The major downfall is the lack of rewards offered. I would love to see this changed.

Interest rates aren't that low

Reviewed and recommended by My adventure on 03 Oct 2013

Interest rates don’t differ much to some of their mainstream cards. But the reason I have this card is most certainly for no other reason than to fly to New Zealand.

Show 33 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
$Same as standard
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.20 months2%95% of credit limit21.49% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
95% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the Westpac Low Rate Credit Card at the promotional balance transfer rate from:

  • Bank of Melbourne
  • Bank SA
  • St.George
  • Westpac

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.20 months2%95% of credit limit 21.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.79% 21.49% p.a.
Purchases 1.12% 13.49% p.a.


Annual fee
$59 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $15,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are allowed
Temporary residents are eligible
Age Pension, Disability Pension, Veteran's Pension and Widower's Pension are acceptable.
Overseas Pension is not acceptable.
Austudy, Child Support Payments, Family Tax Benefits and Parenting Payments, Foster Care Allowance and Youth Allowance are acceptable.
Carer's Allowance is not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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