Westpac Low Rate Card Review (2026)
Westpac Low Rate Card Review (2026)Rates and details verified 30 September 2026
Rates can change without notice. Last verified: 30 September 2026 (AEST). Please confirm details on the bank’s official page.
Purchase rate
13.74%
p.a. variable
Annual fee
$84
charged as $7/month
Interest-free days
55
when balance paid in full
How the Westpac Low Rate Card Works
The Westpac Low Rate Card is Westpac's entry-level low-interest credit card, charging 13.74% p.a. on purchases. It shares the same rate as the ANZ Low Rate card, though its $7/month card fee ($84/year) costs more over a full year than ANZ's $58. Existing Westpac customers get the first year's card fee waived.
There are no rewards points, but Westpac currently runs an introductory offer for new cardholders: a choice of up to $450 cashback (earned monthly by meeting a spend target in the first six months) or a 0% balance transfer period. You pick one, not both, and it isn't available if you've held a Westpac credit card in the last 24 months. Beyond the offer, the card is straightforward by design and suits Westpac customers who want to consolidate their banking or carry an occasional balance at a lower rate than a standard rewards card.
Key Rates and Fees
| Feature | Detail |
|---|---|
| Purchase rate | 13.74% p.a. variable |
| Annual fee | $7/month ($84/year) — first year waived for existing Westpac customers |
| Interest-free days | Up to 55 days on purchases |
| Balance transfer | 0% offer available as an alternative to the cashback intro offer — see Westpac's website |
| Rewards | None — intro cashback offer only (up to $450) |
Rates as at 30 September 2026. Check Westpac's website for the latest rates and any current balance transfer offers.
Pros and Cons
Pros
- ✓ Up to 55 interest-free days
- ✓ Major bank — Westpac app, branches, and customer service
- ✓ Intro choice of up to $450 cashback or a 0% balance transfer
- ✓ Good option for existing Westpac customers
Cons
- ✗ 13.74% p.a. — higher than CommBank (from 10.99%), Bankwest (12.99%), and NAB (13.99%)
- ✗ $84/year ($7/month) — more expensive than ANZ ($58) for the same rate
- ✗ No ongoing rewards or travel benefits (cashback is intro only)
How It Compares
At the same 13.74% rate as ANZ but with a higher yearly fee, the Westpac Low Rate Card is best suited to existing Westpac customers, who also get the first year's card fee waived. Its intro cashback offer is a point of difference no other card here matches. For most others, Bankwest's 12.99% rate and $49 fee is a better deal.
- CommBank Low Rate Credit Card10.99–15.99% — (personalised), $72/year
- Bankwest Breeze Classic Mastercard12.99% — (fixed), $49/year — 0% BT 24 months
- NAB Low Rate Card13.99% — (fixed), $99/year (waived yr1)
- ANZ Low Rate13.74% — (fixed), $58/year
- Westpac Low Rate CardReviewed here13.74% — (variable), $84/year — intro cashback or BT offer
Related guides
FAQs
What is the purchase rate?
13.74% p.a. variable — Westpac's lowest rate credit card.
What is the annual fee?
$7/month, which works out to $84 a year. Waived for the first year for existing Westpac customers.
Are there interest-free days?
Yes — up to 55 days on purchases when you pay your closing balance in full by the due date each month.
Information is general in nature and may change without notice. Details verified 30 September 2026. Confirm current rates, fees, and eligibility on Westpac's website before applying. This is not financial advice.