55 Day Classic

Compare

Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$25,000
Minimum credit limit
Minimum credit limit
$500
Minimum repayment dollars
Minimum repayment dollars
$10
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$0
for 12 months then $30
Late Payment Fee
Late Payment Fee
$15
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$2
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$25,000
Minimum credit limit
Minimum credit limit
$500
Minimum repayment dollars
Minimum repayment dollars
$10
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$0
for 12 months then $30
Late Payment Fee
Late Payment Fee
$15
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$2
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
19.84%
Cash advance rate
Cash advance rate
21.29%
Purchase Rate
Purchase Rate
19.84%
Cash advance rate
Cash advance rate
21.29%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 20 months then 19.84%
Transfer Limit
Transfer Limit
80%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$100
Balance Transfer Rate
Balance Transfer Rate
0%
for 20 months then 19.84%
Transfer Limit
Transfer Limit
80%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$100

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$2.5
Estimated ATM Cost
Estimated ATM Cost
$11.5
for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$2.5
Estimated ATM Cost
Estimated ATM Cost
$11.5
for AU $300 withdrawal

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$15,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$15,000
Eligibility conditions
Eligibility conditions

Perks

  • Free Supplementary Cards
Other Benefits
Pay no annual fee for the first year and waive annual fees for subsequent years if you spend more than $5000 every 12 months. 0% p.a. balance transfer rate for 20 months.

Features

The Westpac 55 Day Classic credit card offers a moderate interest-free period for new customers and a $0 annual card fee for all customers in the first year and any subsequent years when you spend $5,000 or more on purchases.

The card has a moderately high interest rate and an introductory balance transfer offer of 0 per cent for the first 20 months (with a balance transfer fee). It also allows one additional cardholder (16 years and over) at no extra cost. There is no rewards program.

Security-wise, purchases on the Westpac 55 Day Classic card are protected by Westpac’s fraud money back guarantee as well as Verified by Visa, Mastercard SecureCode and American Express SafeKey services when purchases are made at participating merchants.

If you connect the card to a Westpac Mobile Wallet, you can leave the card at home and make tap-and-pay purchases with your smartphone.

Pros
  • No annual fee for the first year
  • Moderate interest-free period
  • Free additional cardholder
Cons
  • Moderately high interest rate
  • No rewards program
  • High overseas spending fees 

Who is it good for?

The Westpac 55 Day Classic credit card is well-suited to those wanting to cut down on unnecessary fees. The $0 annual fee deal is an attractive benefit, and the standard annual fee is also low compared with other cards on the market.

Potential cardholders looking to carry over debt from another card would also benefit from this card’s balance transfer deal of 0 per cent interest on the transferred balance for the first 20 months.

This card is not particularly suitable for those who travel frequently or make a lot of overseas purchases due to high international spending fees and no travel rewards. The interest rate is also moderately high, so it may not be the best option for people who don’t pay their monthly bill in full every month. 

What RateCity says

There are a number of potential advantages to being a Westpac 55 Day Classic cardholder, including not paying an annual fee in the first year (and any other years where you spend over $5,000), as well as the ability to pay off transferred debt without incurring any interest in the first 20 months.

However, the standard purchase interest rate on this card is moderately high, and there are other cards available with similar benefits but lower interest rates. It also doesn’t offer a rewards program, while other cards on the market have comparable interest rates but also allow you to earn rewards for spending.

Accordingly, if you’re not confident you can pay off your balance entirely every month or are looking for the ability to earn rewards for spending, it could be worth shopping around for a card that’s more suitable. 

Applying/eligibility

To be eligible for the Westpac 55 Day Classic credit card, you need to be at least 18 years of age and an Australian permanent resident living in Australia, as well as meet the bank’s serviceability criteria. When applying, you’ll need to provide personal details, proof of ID, employment details and proof of steady income such as bank statements or payslips. Applications can be completed online or by visiting a branch if preferred. 

About the lender

Westpac is Australia’s oldest bank, and today makes up one of Australia’s big four financial institutions. The bank’s personal financial products offered to customers include credit cards, bank accounts, personal loans, car loans and home loans. Customers have access to 24-hour contact with customer service staff through the bank’s phone hotline and online services. Customers’ finances can also be self-managed through the Westpac internet banking portal and the mobile app.

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