Westpac
Get up to $350 cashback with the Westpac Low Rate Credit Card. Enjoy 0% p.a. on balance transfers for 20 months and a low annual card fee for eligible customers.
Westpac’s Low Rate Credit Card offer comes with up to $350 cashback when you spend $1,000 or more each month on eligible purchases in your first seven months. Besides this, new applicants can take advantage of a 0% p.a. interest rate on balance transfers for 20 months, although a 3% balance transfer fee applies. The first year’s annual card fee can be waived for existing Westpac customers. Typical credit limits and minimum eligibility criteria apply, so make sure to check your details prior to applying.
How to Apply: Step by Step
- Check you meet eligibility requirements (age, residency, income and credit score).
- Gather your personal and financial details including ID and income proof.
- Start your application online on the official Westpac website.
- Input details about debts if you seek a balance transfer.
- Submit the application and await approval notification.
Pros: Why Choose this Card?
The key highlight is the up to $350 cashback offer, which rewards you for regular spending. The 0% p.a. balance transfer rate for 20 months can also help with consolidating and repaying existing card debt at no extra interest.
Additionally, Westpac offers a first year fee waiver for existing customers, making the overall cost of owning this card even more appealing if you already bank with them.
Cons: Things to Keep in Mind
The cashback is only available if you spend $1,000 in each monthly statement period, so it may not suit infrequent spenders. The balance transfer offer includes a 3% fee and reverts to a higher cash advance rate after 20 months.
Also, if you currently hold or recently held a Westpac credit card, you may not qualify for some promotional offers.
Verdict: Is the Westpac Low Rate Credit Card Worth It?
For those who want strong cashback incentives and need help with balance transfers, this card may suit well. Consider your spending habits and eligibility to maximise value from the offers available. Always compare with other products and review the full terms before deciding.
