Westpac Low Rate Card
Pros & cons
What's good
- 0% p.a. for the first 20 months on balance transfers
- Low 13.74% p.a. interest rate on purchases
- $0 first-year annual fee for existing customers
Worth noting
- Charges a one-time 3% balance transfer fee
- Balance transfer reverts to the high cash advance rate of 21.99% p.a. after the introductory period
Card details
The basics
- Additional cardholders
- 1 ($0 p.a.)
- Card setup
- Single card
- Card tier
- Standard
- Card type
- Mastercard
- Card use
- Personal
- Credit limit
- $500 – $50,000
- Credit rating
- Good
- Rewards program
- None
Eligibility
- Instant approval
- No
- Joint application
- No
- Minimum age
- 18 years old
- Minimum income
- $30,000 p.a.
- Residency
- Australian citizen or permanent resident
- Temporary residents
- Not eligible
Repayments
- Interest charged from
- Purchase date
- Interest-free period
- Up to 55 days on purchases
- Minimum repayment
- 2% of the closing balance or $10, whichever is greater
Balance transfers
- Limit
- Up to your available credit limit
- Period
- 20 months
- Promotional rate
- 0% p.a.
- Revert rate
- 21.99% p.a.
- Transfer fee
- 3%
While you carry a transferred balance you may not receive interest-free days on new purchases.
Rates & fees
Ongoing interest rates
- Cash advances
- 21.99% p.a.
- Purchases
- 13.74% p.a.
Fees
- Additional cardholder fee
- $0
- Annual fee
- $59 p.a.
- Cash advance fee
- 3.5% of the amount
- Foreign transaction fee
- 3%
- Late payment fee
- $20
Rewards
This card doesn't earn rewards points. It focuses on a low cost of ownership instead. If earning points matters to you, compare frequent flyer cards and rewards cards.
How this card stacks up
Calculated estimates that show where this card sits against the 227 cards in our database.
Personalise these estimates
Lower than 40% of cards we list — that's a low rate.
Carrying $5,000 at 13.74% p.a. costs roughly this much in interest each month.
Assumes the full balance is carried with no interest-free days applied.
Total annual fees across three years, so a promotional first year doesn't flatter the headline figure.
Days you can avoid interest by paying in full — above average for the market.
That's average for Standard cards — a fairer comparison than measuring it against $0 cards in other tiers.
A combined read on annual, foreign, cash-advance and late fees across all the ways a card can cost you.
Stated minimum income — low — accessible to most.
Transferring $5,000 could save this much in interest over 20 months, after the 3% transfer fee.
Assumes the balance isn't paid down during the intro period — a conservative estimate.
After the intro period the rate jumps to this — above-average revert rate.
Where this card ranks among balance transfer cards for intro period length.
Where this card ranks among low interest cards for purchase rate.
Calculated metrics are estimates based on assumed spending patterns and point valuations and should not be taken as financial advice. Point values used: Qantas/Star Alliance 1.2c, Velocity 1.0c, all other programs 0.5–0.8c per point. Percentile rankings are based on 227 cards in the CreditCardCompare.com.au database as at June 2026. Seek independent financial advice before applying for any credit product.
User reviews
Based on 0 reviews
How it compares
| Card | Purchase rate | Annual fee | Rewards |
|---|---|---|---|
| Westpac Low Rate Card (this card) | 13.74% p.a. | $59 p.a. | — |
| Latitude Low Rate Mastercard - Balance Transfer Offer | 13.99% p.a. | $69 p.a. | — |
| Kogan Money Credit Card - Balance Transfer Exclusive Offer | 21.99% p.a. | No annual fee | 1 pt per $1 spent |
| Qantas Money Platinum | 20.99% p.a. | $349 p.a. | 1 pt per $1 spent |
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