- Limited-time offer: Get up to $350 cashback – $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 7 months from card approval. Offer ends 30 April 2025.
- Low rate of 13.74% p.a. on purchases.
- Free additional cardholder.
- Add your card to Apple Pay, Google Pay and Samsung Pay digital wallets.
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Westpac Credit Cards
Westpac Low Rate Credit Card – Cashback Offer
Updated 5 November 2024
Simple but slick, the Westpac Low Rate - Cashback Offer card gives you up to $350 cashback 💰 when you apply by 30 April 2025 and are approved ($50 cashback for each month you spend $1,000 or more on eligible purchases in the first 7 months from card approval).
You can earn more cashback through ShopBack, and get a low ongoing purchase rate of 13.74% p.a. and a free additional cardholder.
Terms and conditions apply.
Purchase Rate (p.a)
13.74%
Annual Fee (p.a)
$59
Pros and cons
- The cashback offer isn’t available to current Westpac customers or those who’ve held a Westpac credit card in the last 12 months
Creditcard.com.au review
Editor Review
Westpac Low Rate Credit Card – Cashback Offer
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
Overall rating
This is an uncomplicated card with a low credit limit, low annual fee and low interest rate on purchases. It won’t come with loads of extras (in fact I just listed most of them), but offering up to $350 cashback earns it some big Brownie points.
| ⭐ Westpac has two introductory offers on its low rate card: here, we’re reviewing the cashback offer. You can also choose a balance transfer offer of 0% p.a. for 26 months (with a 2% fee) rather than the cashback. You can see our review for the balance transfer version here. |
What I love about the Westpac Low Rate - Cashback Offer card
What can $59 get you? 2 movie tickets, or about 10 bananas, or this credit card per year. This is a card that’s all about low rates and it does that credibly.
So, here’s how the cashback works, and some of the other basic but helpful extras.
Cashback: The $350 cashback is broken up into $50 for each month that you spend $1000 on eligible purchases within 7 months of being approved for your card. The credit is debited to your account within 60 days of meeting the $1000 minimum spend criteria. The cashback offer ends soon, on 30 April 2025.
The card's PDS says that eligible purchases are those outside of: "interest, fees, charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account."
Low interest: The interest rate on your purchases is 13.74% p.a., which is much lower than the average 20%. It’s a cheaper rate but it’s still better to pay off your card within the 55 days interest-free if you can.
Bonus cashback: You can earn more cash back and great deals when you link your card with Shopback via the Westpac app and purchase from one of Shopback’s 4000+ partner brands. Brands include big names like The Iconic, Amazon and eBay.
Pay in instalments: Westpac offers a PartPay feature that lets you split purchases over $1000 into 4 smaller payments over 6 weeks. You can also use SmartPlan, which offers a lower interest rate on big purchases.
Extra cardholder: You can add one cardholder at no extra cost.
Westpac also has a decent app and some neat security features like Dynamic CVC, where the 3-digit code for digital transactions changes every 24 hours for extra fraud protection.
What’s not so great
It’s hard to get picky with a basic card because there just aren’t enough features to pull apart. First I’d say the low interest rate is great, but be careful of accidentally racking up the debt. Interest is still interest.
It has a high cash advance rate of 21.99% p.a., so avoid withdrawing cash (which is a general guideline for credit cards anyway).
The cashback offer isn’t available to current Westpac customers or those who’ve held a Westpac credit card in the last 12 months, or if you apply under the Westpac Premier Advantage Package. Also remember the cashback is dished out over 7 months, so don’t lose steam and forget to meet the spending requirements as time goes on.
Who suits the Westpac Low Rate - Cashback offer
This is a simple card that focuses on low interest rates and low annual fees, but earning up to $350 in the first 7 months is a great deal-sweetener.
It’s a good fit for first-time cardholders to try out the world of credit, and those who tend to pay interest each month. It could also suit you if you’re savvy about using sign-up bonuses to your advantage.
User reviews
Rates and fees
Interest rates
Purchase rate 13.74% p.a.
Cash advance rate 21.99% p.a.
Interest free period on purchases up to 55 days
Credit limits
Minimum credit limit $500
Maximum credit limit $50,000
Fees & repayments
Annual fee $59 p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3%
Minimum repayment 2% or $10 whichever is greater (personal); 3% or $10 whichever is greater (business); $40 (Westpac Flex)
Cash advance fee 3%
Late payment fee $15
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Overview
Westpac Low Rate Credit Card – Cashback Offer
As a cardholder, you’ll get up to 55 days interest-free on purchases and the convenience of contactless Tap&Go technology. With no minimum income requirement, this card is definitely appealing.
Disclaimer: The interest-free period is the maximum number of days during which interest is not charged on new purchases. If your account has an interest-free period for purchases, to be entitled to that interest-free period, you need to pay off the “monthly payment balance” listed on your statement (not the full closing balance) by the relevant payment due date.
Key features
- Get up to $350 cashback – $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 7 months from card approval. Offer ends 30 April 2025.
- Low rate of 13.74% p.a. on purchases
- Up to 55 days interest-free on purchases
- Free additional cardholder
- Tap & go quickly and easily using your Mastercard
- Access to SmartPlan which helps you structure your credit card repayments by breaking them down into regular monthly instalments
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Australian citizen or permanent resident; non-resident or migrant and hold an acceptable Visa, with a min 1 year before expiry
-
Minimum income of $30,000 p.a.
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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