Westpac Low Rate Credit Card
The benefits of a low ongoing interest rate from Westpac. This exclusive balance transfer offer is only available online.
24 months interest free (0%) when you do a balance transfer
Don’t miss out!
Quick card summary:
- 0% interest for 24 months on balance transfers (conditions apply, 2% fee on balance transfer).
- $59 annual fee (p.a.).
- 13.49% p.a. variable purchase rate.
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How much will you save by doing a balance transfer with the Westpac Low Rate card?
Below you will find some basic examples of how much money you could possibly save on interest by doing a Westpac Low Rate balance transfer for 12 months (at 0% interest) when coming from an existing credit card with a rate of 17% p.a. Assumptions can be found here.
Your debt: $1,000
You would save $242.15 in interest
Your debt: $2,000
You would save over $484.33 in interest
Your debt: $4,000
You would save $968.63 in interest
Your debt: $10,000
You would save $2421.66 in interest
Westpac Low Rate review
This is a no frills credit card from Westpac and offers a range of entry level features for competitive fees and charges.
The Westpac Low Rate credit card offers 55 days interest free, low annual fees and low ongoing interest rates on purchases. You also receive the added benefit of a free additional cardholder (over the age of 16 years) along with contactless technology to pay quickly.
Benefits of the Westpac Low Rate credit card
Long balance transfer period
The Westpac Low Rate credit card comes with 18 months interest free on balances transferred. This means that upon application, you can request to pay off an existing credit card debt with a portion of the Westpac Low Rate cards limit. Once the balance transfer finishes, the rate will revert to the cash advance rate.
Only $1,000 minimum credit limit
A minimum credit limit that is a lot smaller than many credit cards. A lower limit means less money to spend, something many savers like.
Low ongoing variable interest rate on purchases
The Westpac Low Rate card is named exactly that for a reason. It has a low ongoing purchase rate and is offers you up to 55 days interest free when you clear your outstanding balance with each statement period.
Free additional card
You can receive an extra card at no cost, a feature that many credit card providers charge money for.
Features of the Westpac Low Rate card
Low variable interest rate
The variable purchase rate on the Westpac Low Rate credit card is one of the lower rates among its peers. The current rate is 13.49% p.a. on purchases, while cash advances are 21.49% p.a. (neither competitive nor uncompetitive, pretty average).
Low annual fee
$59 p.a. annual fee to get access to a purchase rate of 13.49%.
Monitor your spending easily
Integrated with Westpac Mobile Banking, giving you access to your credit card and transaction history via your mobile, anywhere and at any time.
Credit card repayment insurance
Optional repayment protection in the event you can’t work or no longer have a job. Known as ‘credit card repayment protection’ – this will cover certain unforeseen circumstances.