Low Rate Card

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 $59
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 $59
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
13.49%
Cash advance rate
Cash advance rate
19.49%
Purchase Rate
Purchase Rate
13.49%
Cash advance rate
Cash advance rate
19.49%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 26 months then 19.49%
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 26 months then 19.49%
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
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions

Perks

  • Free Supplementary Cards

Features

The Westpac Low Rate Visa credit card has a moderately low annual fee, a moderate interest rate and a moderate interest-free period. The card does not have an associated rewards scheme.

The Westpac Low Rate Visa Card allows an additional card holder (16 years or over) at no added cost. It also offers a balance transfer deal of 0 per cent interest for 30 months (although a 2 per cent balance transfer fee applies) for those looking to transfer existing card debt.

If you connect the card to a Westpac Mobile Wallet, you can leave the card at home and use your phone to do tap-and-pay transactions.

In terms of security, the Westpac Low Rate Visa Card is covered by Westpac’s Fraud Money Back Guarantee and online security to protect you while shopping on the web. 

Pros
  • Moderate interest rate
  • Moderate interest-free period
  • Free additional cardholder
Cons
  • Annual fee charged
  • Late payment fee charged
  • High overseas spending fees

Who is it good for?

This card is best for current customers of Westpac who are looking to take out a low rate credit card with the bank. It is particularly good for these customers as they will have the annual fee waived in the first year. For other potential card holders, the Westpac Low Rate visa card offers no particular advantages. While the interest rate is below average it is not the lowest on the market. Similarly, while the annual fee is below average, if you are looking to really cut costs, there are cards that charge no annual fee.

This card is not particularly suitable for overseas travel due to the high charges on international spending. Although, for those looking to transfer over an existing debt, the balance transfer deal may be attractive as it offers 12 months at 0 per cent interest. 

What RateCity says

The Westpac Low Rate Visa card offers little advantage to those who are not already Westpac customers looking to keep their banking products under the one roof.

The card has a reasonable interest-free period and, as is reasonable for a low-rate card, it doesn’t offer a rewards program. However, for the budget card holder, there are cards with lower interest rates and no annual fees that would be more appropriate.

While the balance transfer deal may be an incentive for some customers to apply for the card, there would not be much to keep them around once the introductory deal has ended.

As such, it might be worth shopping around to see if you can find a credit card that offers better value for money. If you’re confident about paying your entire bill in full every month, a card with no annual fee and a rewards program might be best.

Applying/eligibility

To be eligible for Westpac Low Rate Visa card you must be able to provide proof of a reliable income source and have an acceptable credit rating. You must be an Australian citizen or a permanent resident. You must be 18 years or older and be able to meet any serviceability criteria enforced by the bank. You will also be asked to provide proof of your identity. Applications can be completed online or in-branch if preferred.

About Westpac

Westpac is one of Australia’s big four banks that provides personal finance products to customers. These products include credit cards, personal loans, car loans and home loans. Customers of the bank can stay in 24/7 contact with customer service representatives through the bank’s phone hotline and online services. Customers can also manage their own finances through the Westpac internet banking portal and the mobile app. Westpac is Australia's oldest bank and was established in 1817.

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