The details shown below are for a card without rewards

The details shown below are for a card without rewards

Choose the version of this credit card that suits you best

  • Low Rate

    Rewards: n/a

  • Low Rate - Cashback Offer

    Rewards: n/a

Purchase rate
13.74% p.a.
Balance transfer rate
0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
Annual fees
$59 $0 in the first year
Interest free days on purchases
55
Go to site
Purchase rate
13.74% p.a.
Balance transfer rate
No current offer
Annual fees
$59 $0 in the first year
Interest free days on purchases
55
Go to site

Mozo editorial review Westpac Low Rate - last updated: 1 September 2021

binocular icon
What's hot
  • Cashback and balance transfer offers
  • No annual fee for the first year (then $59)
  • Up to 55 days interest-free on purchases
What's not
  • 21.49% p.a. cash advance rate
Mozo snapshot

With a competitive rate and low annual fee (which is waived in the first year), Westpac's Low Rate credit card could provide a simple, cost-effective option for cardholders. But don’t confuse simplicity with a lack of options, because the Low Rate card also comes with a number of useful features as well as cashback and balance transfer offers for new cardholders. 

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Key features

Westpac's Low Rate credit card is all about value. With a low annual fee of $59 (which is waived in the first year), a relatively competitive 13.74% p.a. purchase rate, and up to 55 interest-free days, the card has all the potential to be a budget-friendly option.

You can use the Low Rate card overseas or when shopping online wherever Mastercard is accepted and it comes with Mastercard Tap & go functionality for purchases under $100. All foreign transactions will have a 3% foreign exchange margin added to the Australian dollar amount though.

The value doesn’t stop there though, as Westpac is currently giving new Low Rate credit card applicants the choice between two different limited-time offers. 

$400 cashback offer

New cardholders will be able to score $400 cashback when they take out a new Low Rate credit card and spend $4,000 on eligible purchases within 120 days of the approval date. This is a limited-time offer which is available until 30 November, 2021 though, so get in quick if you’re interested.

0% balance transfer offer for 28 months

Alternatively, eligible new Low Rate credit card applicants can choose to make a dent in their existing credit card debt by taking advantage of a 0% balance transfer offer for the first 28 months (21.49% p.a. cash advance rate applies afterwards). Remember, there is a 1.00% set-up fee on the balance transfer, and the offer is available until 30 November, 2021.

snapshot
Who is it good for

Westpac's Low Rate credit card could be an option worth considering for anyone looking for an affordable, no-frills card that offers good value for money. Especially for those who can make the most of the limited-time cashback or balance transfer offers. 

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Any catches

Remember, like most credit cards, cash advances will attract a rate much higher than the normal purchase rate. In the case of the Low Rate card, the cash advance rate is 21.49% p.a.

Details

Rates and fees information correct as at 24 October 2021 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

13.74% p.a.

none

0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)

yes

21.49% p.a.

55

Fees

$59.00

$0 in the first year

none

none

$15.00

2%, Min $2.50, Max $150

3.00%

$0.00

$0.00

$0.00

Features

$10.00

2.0

1

none

Payment options

Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Details

Rates and fees information correct as at 24 October 2021 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

13.74% p.a.

none

No current offer

yes

21.49% p.a.

55

Fees

$59.00

$0 in the first year

none

none

$15.00

2%, Min $2.50, Max $150

3.00%

$0.00

$0.00

$0.00

Features

$10.00

2.0

1

none

Payment options

Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Other benefits

Receive $400 Cashback when you take out a new Low Rate Credit Card and spend $4,000 on eligible purchases within 120 days from approval.

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