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Our verdict

Save with a $0 annual fee for the first year and up to 55 interest-free days on purchases.

Although many credit cards offer no annual fee in the first year, the Westpac Low Fee credit card is unique because it also offers you this $0 fee when you meet the spend requirement each year. The standard annual fee of $30 p.a. is also competitive when compared to some other cards on the market.

Although you’ll save on fees, the Westpac Low Fee credit card charges a 20.99% p.a. purchase interest rate. This is a relatively high interest rate, so the card is best suited to people who pay their balance in full each month and can take advantage of the interest-free days.

Pros

$0 annual fee for the first year and in the following years when you spend $5,000 on purchases in each 12 months from the date of the first transaction on your account

Cons

Charges a 3% foreign transaction fee

The Westpac Low Fee is a no-frills credit card designed to help you save money. You don't have to pay any annual fee for the first year or in subsequent years when you meet the annual spend requirement.

Details

Product details

Product Name	Westpac Low Fee Card
Purchase rate p.a.	20.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$500
Max credit limit	$50,000
Card type	Mastercard

Eligibility

Available to temporary residents	Yes - Conditions apply
Minimum income	$30,000
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$0 first year ($30 after)
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	3%
Overseas cash advance fee	2%
Additional cardholder fee	$0
Number of additional cardholders	1

How to apply

You can apply for the Westpac Low Fee credit card in 10 minutes and receive a response in 60 seconds.

Eligibility criteria

Residency. You must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Required documents

Personal documents. You'll need to provide your full name, date of birth, email address, marital status, number of dependents and contact number.
Proof of identification. This includes your Australian driver's licence, Medicare card, Australian passport or foreign tax details if applicable.
Finances. You'll have to upload income documents such as recent payslips and bank statements. You may also be asked to provide details regarding expenses and liabilities.
Employment. You'll be asked to list where you work, your role and your employer's contact information.
Balance transfer information. To transfer a balance, you'll need to provide the account numbers of the cards you'd like to transfer, the provider's biller codes and the debt amounts.

Card benefits

Annual fee waiver. This card charges a standard annual fee of $30 p.a., but offers a $0 annual fee in the first year. After the first year, annual fees for subsequent years are waived if the minimum $5,000 yearly spend is met.
Shopping cashbacks. Eligible Westpac credit card holders can get cashbacks when they shop with their card on the online rewards platform ShopBack.

Mobile wallets. You can link your card with Apple Pay, Samsung Pay and Google Pay to make contactless payments with your eligible smartphone or smartwatch at the checkout. Plus, you can also pay with your eligible fitness tracker with Fitbit Pay and Garmin Pay.
Card security. Cardshield and the card's microchip help protect your account from fraudulent transactions. Your account activity is also monitored 24/7 and Mastercard SecureCode offers additional security when you're shopping online.

Rates & fees

Annual fee. Outside of any promotions, this card charges a standard annual fee of $30 p.a. When you spend at least $5,000 over the course of the year, the annual fee in the subsequent year will be waived.
Purchase interest rate. This card charges a standard 20.99% p.a. interest rate on purchases.

Cash advances. If you use your card to make a cash advance (such as an ATM withdrawal), you'll immediately attract the 21.99% p.a. cash advance interest rate and will be charged a cash advance fee of 3% of each cash advance amount.
Interest-free period. You will receive up to 55 days interest-free on new purchases when you pay your monthly payment balance listed on your statement in full by the payment due date. Note that these interest-free days are separate from any longer-term interest rate promotions and the monthly payment balance excludes current balance transfers.
Credit limit. The minimum credit limit of this Mastercard credit card is $500 and the maximum depends on your financial situation and ability to repay.
Additional cardholders. You can request 1 additional cardholder at no extra cost.

Sources

Westpac Low Fee Card information PDF

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Sally Finder

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linda

October 06, 2016

I have an outstanding debt with an aussie credit card. the limit was 1,500.00. I have been paying this debt off for over 4yrs and not getting anywhere. My credit was suspended on the card years ago, I have just been paying off the debt. I think I now owe around 1,000.00. Is it possible to transfer this debt to your company???

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Anndy Lou Finder

October 06, 2016

Hi Linda,

Thanks for your question.

Please note that we are Finder, a financial comparison and information website, not Westpac.

To apply for Westpac 55, you need to meet the following eligibility criteria:

You are a permanent resident of Australia

You are over 18 years old

You don’t have poor creditworthiness

You can also check other balance transfer credit cards and see what options you may have.

Please note that rejected credit card applications can have a negative impact on your credit file, so before you apply, be sure to check the eligibility criteria and the requirements.

Cheers,

Anndy

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Ian

July 13, 2016

Hi, can I do a balance transfer from a St George credit card onto a Westpac 55 day credit card or is St George and other banks affiliated to Westpac excluded from the offer? Regards

May Finder

July 13, 2016

Hi Ian,

Thanks for your question.

Unfortunately, it’s not possible to conduct a balance transfer between Westpac and St. George credit cards. On this credit card balance transfer criteria guide, you can find which financial institution that you’re able to conduct a balance transfer to and from.

In the meantime, you may like to compare your balance transfer credit cards that may allow you to transfer the balance from your St. George card to a non-Westpac credit card. Please make sure to review the criteria and requirements before you submit your application.

I hope this is helpful.

Cheers,

May

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Don

April 13, 2016

What other interest (transaction) charges are applied and at what rate?

May Finder

April 14, 2016

Hi Don,

Thanks for your question.

The fees charged by Westpac 55 Day Credit Card were outlined in the table above particularly on the ‘fees and repayments’ section.

Hope this helps.

Cheers,

May

Westpac Low Fee Credit Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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