Westpac
Up to $350 cashback for new Westpac Low Rate credit cardholders, 0% p.a. balance transfers for 20 months, eligible for a reduced or waived first-year fee.
The Westpac Low Rate Credit Card currently features some of the strongest incentives in the market, making it a compelling choice for Australians who want to save on fees and interest. New cardholders can receive up to $350 cashback, with $50 awarded each month you spend at least $1,000 in eligible purchases for the first seven months. Plus, Westpac is offering 0% p.a. interest on balance transfers for 20 months (with a 3% balance transfer fee), giving you an extended break from interest while you pay down existing debt. Existing Westpac customers may also enjoy a waived first-year card fee.
How to Apply for a Westpac Low Rate Credit Card
- Visit the official Westpac credit card offers page.
- Choose the Low Rate Credit Card and check all eligibility requirements.
- Complete the online application form and provide required ID and financial details.
- If you’re transferring a balance, nominate your other card(s) during the process.
- Submit the application and await approval notification from Westpac.
Key Benefits
The headline cashback offer is an easy win if you’re already planning to use your card for regular spending. This, combined with the lengthy 0% p.a. purchase rate on balance transfers, can help you reduce your total interest paid significantly during the promotional periods.
Another plus is the waived or reduced first-year card fee for existing Westpac customers, which further increases the value for frequent spenders or those looking to consolidate debt affordably.
Downsides to Consider
Keep in mind, eligibility is limited for return customers and Westpac group staff. You also need to reach the monthly spend to claim the full cashback and remember that after the promo periods, standard interest rates apply.
Balance transfers attract a 3% fee and you cannot transfer from another Westpac card. Rewards are credited over time, not instantly.
Westpac Low Rate Credit Card Verdict
Overall, Westpac’s Low Rate offer is highly attractive for those seeking cashback and a long interest-free period on transferred balances. This card rewards savvy users who can meet the monthly required spend and manage their payments, making it a solid pick if you’re looking to save money and streamline your finances this year.
