Westpac Ignite Credit Card: Deal or Dud?

The new Westpac Ignite Credit Card launches today, replacing the much loved Virgin Credit Card held by over 750,000 Australians.

Westpac is promoting the Ignite Credit Card as everything the Virgin card is, and more. But will the new Westpac card really ‘ignite’ the imaginations of all those ex-Virginites?

And if you’re an ex-Virgin customer, should you stick with the Ignite Credit Card or look around for a better deal?

You can see how Ignite stacks up against the rest of the market with our quick Compare Credit Cards tool. Just select Westpac as your lender and Ignite as your card.

Or read on for the Mozo low down on whether Ignite is a dud or a deal.

Westpac Ignite Credit Card Pros:

  • Still promises no annual fee… ever (great to see they’ve kept this promise)
  • Still has a low interest rate of 12.99% (but beware the cash advance rate is 17.74%)
  • Still up to 55 interest free days on purchases
  • Added chip security to protect your card against fraud
  • No changes to your credit card number or payment method

Westpac Ignite Credit Card Cons:

  • No more funky card colours: just one boring red card design. We can’t help thinking they’ve missed a trick here – how many cardholders would have stayed with Westpac just to keep their purple, pink or black plastic?
  • No more funky Virgin brand: the cheeky cut off corner is gone and the Ignite Credit Card looks pretty much the same as any other card. Solid. Respectable. Not exactly the sort of brand that will appeal to many Virgin customers.
  • No more Mates Rates rewards: Westpac has promised it’s own ‘Instant Offers’ program but details are sketchy.

The good news is that if you’re after a combo of low rate, no annual fee and interest free days, the Westpac Ignite Credit Card is definitely one of the best deals around. But you can do better with the mecu Visa credit card which offers a purchase rate of 11.99%, no annual fee and 55 interest free days.

If you’re paying interest on your credit card balance, then you’re likely better off switching to a card with a lower interest rate and a low annual fee. The BankWest Lite card offers 0% on balance transfers for 8 months and a low ongoing rate of 10.99%, with a $59 annual fee. This card also has an ‘Instant Discounts’ rewards scheme.

Alternatively the Aussie MasterCard offers a 12 month introductory rate of 9.99% on purchases and 5.99% on balance transfers. The ongoing interest rate is 11.74% and the annual fee is a respectable $49.

And finally, if you’re all about great looks over cost, then check out the NAB Low Rate Visa in silver or pink and the cute little NAB Visa Mini in a choice of 5 colours.

Compare credit cards now with Mozo.

Westpac Ignite Credit Card: Deal or Dud? was last modified: June 12, 2012 by Kirsty Lamont

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6 Comments - Write a Comment

  1. Ignote has 0% on purchases until August 30th. Excellent offer which i’ll take full advantage of… but after that i doubt i’ll ever use this card.

    Reply
  2. I’m amazed to see you write that an annual credit card fee can be respectable. Anyone who uses a credit card and maintains a debt is already paying more than their fair share of debt without the added excess’s of the gready credit card provider laying a further impost on them.

    Rather than calling annual fees ‘respectable’ I would thik it would have bben more helpful to do some simple calculations to show what level of maintained debt would be required to compensate users for the annual fee. An example would be to compare the Westpac card you featured with an interest rate of 12.99% to the Bankwest Lite account with a rate of 10.99%. To cover the $59 annual fee a person would need to have a permanent debt of approx $3,000 on their card. That way they could gain an idea of which account might be best for their needs.

    Cheers…………..

    Reply
  3. Just beware of this card, when you pay your payments are HELD UP by the bank. They will actually call you asking where your payment is when you’ve made it and your payments won’t show up for about 10 days, but will show on your statement as being “there” the day after you make them. No other card I’ve held does this.

    Reply
  4. Yes, I’m one of many aussies who had no choice but to get sold off to Westpac. Not my choice. How can Richard Branson be allowed to do this again! I’m not impressed with my Ignite card as the balance never seems to go down and I don’t even use it for purchases. I’m switching this time.

    Reply
  5. Johanna @2012-04-01, 11:42 · Edit

    I love my Ignite Mastercard. Not too happy about the compulsory change to Westpac but didn’t present too many disadvantageous changes. I don’t really give a s*** about the colour of my credit card only the annual fee which is zero, the interest free days which is up to 55 days and the lower interest rates which is a damn sight alot better than my NAB Mastercard in terms of daily & cash advance rates as well as all aspects above. Go Ignite and NAB you still SUCK!

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