Low Rate Mastercard (no longer for sale)

Latest Information

The Westpac Low Rate Mastercard that was offered pre-2019 is no longer available . See our full range of available credit cards.

Low Rate Mastercard holders

If you currently have a Low Rate Mastercard, nothing has changed. Existing benefits, features, fees and the conditions that apply are outlined below.

Essentials

Annual card fee and interest free days

Currently $59. $0 card fee for the first year on new cards when special promotion applies
Up to 55 days interest free on purchases when you pay the closing balance (excluding any promotional balance transfer amount) in full by the due date shown on your statement.

Variable interest rates

On purchases - 13.74% p.a.
On cash advances - 21.99% p.a.

Minimum credit limit

$1,000.

For more information, including the Consumer Credit Card Terms and Conditions, see

Credit Card Terms and Conditions (PDF 264KB)

Features

Additional cardholder

Add one additional cardholder (16 years or older) at no extra cost
The account holder (primary cardholder) is liable for all transactions on these cards and their own card.

Contactless technology

For a fast and convenient payment option for purchases under $100 - simply hold your contactless card against the terminal wherever you see the contactless symbol or your card logo - no need to enter a PIN or sign (where available).

Now you can use your Samsung Galaxy S5, S4 or Note 3 (N9005) smartphone to tap and pay for everyday purchases.
Simply download the Westpac Mobile Banking app and choose which debit or credit cards you wish to use for mobile payments
To make a payment simply hold the back of your Samsung Galaxy S5, S4 or Note 3 (N9005) smartphone against the contactless terminal.

Card security

As well as an embedded microchip, take advantage of additional security measures helping defend against fraudulent activity:

Cardshield™
Register with Mastercard® SecureCode™ through the Westpac Added Online Security service
All mobile payments are backed by our Fraud Money Back Guarantee. Plus, you can choose to enter your mobile banking password each time you make a purchase for added peace of mind or disable mobile payments in your phone’s NFC settings at any time.

Fraud Money Back Guarantee

Cardholders will be reimbursed for unauthorised transactions, provided the cardholder didn't contribute to the loss and notified Westpac promptly. Refer to the T&Cs for full details of when cardholders may be liable.

Fees

Fees (these may change)	Amount
Annual card fee	$59
Foreign Transaction Fee	A Foreign Transaction Fee is payable as a percentage of the Australian dollar value of any Foreign Transaction. The percentage will vary depending on the applicable credit card scheme: 1. Transactions in foreign currency Mastercard®: 3.0% 2. Transactions in Australian dollars and the merchant or financial institution accepting the card is located overseas: Mastercard®: 3.0% Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia.
Cash advance fee	An administrative charge of 3% of the value of the transaction will apply to each cash advance made on your card account. These charges will appear on your credit card statement directly below the relevant cash advance.
Missed payment fee	A charge of $15 may be payable each statement cycle that the whole of the minimum monthly payment is not paid by the statement due date. If charged, the Missed Payment Fee will be debited to your account.
Overlimit fee	If your card account was opened before 4 June 2012, a fee of $15 may be debited from your credit card account every time you exceed your credit limit during a statement cycle. It is debited from your account in that statement cycle, on or after the day(s) your credit limit is exceeded. This fee may also be charged whenever your account is over limit at the commencement of a statement cycle.
Non-Westpac Group ATM fee	Although not a Westpac fee, using your card in a non-Westpac Group ATM may result in a charge to you. Avoid this fee by using one of Westpac’s extensive network of 2,900 ATMS across Australia (including any St.George, BankSA and Bank of Melbourne ATMs) . Find a Westpac Group ATM .
Credit card surcharge	In some instances, businesses may administer a ‘surcharge’ for credit card payments. Usually, these are a percentage fee of your purchase amount. Ask the merchant if a surcharge applies and how much it is before paying if you’re unsure.

Rates

Transaction	Interest rates
Purchases	13.74% p.a. (variable)
Cash advances	21.99% p.a. (variable)

Details

Be credit savvy: Before applying, consider a realistic credit limit and check all conditions, interest rates, fees and charges on your selected card.

Credit card repayment protection

Important note: Credit Card Repayment Protection is no longer available for new sales. The following product information is for existing policyholders.

Credit card repayment protection is optional insurance that could help make your repayments if you unexpectedly lose your job, or can’t work because of illness or injury. It could also pay off your outstanding balance (up to $50,000) if you pass away.

If you are a policyholder, your monthly premium appears in your credit card transactions as “Credit Card Repayment Protection” and may be subject to credit card interest charges.

Policy limits and exclusions apply which mean you won’t be covered in some instances as set out in the Product Disclosure Statement (PDS) or policy wording, for example: voluntary redundancy or resignation, if your employment ceases at the end of a contract, or if you’re aged 66 years or over.

To find out more or make a claim; simply visit westpac.com.au/ccrp or call us on 1300 369 989.

Important note: Credit Card Repayment Protection is no longer available for new sales. The following product information is for existing policyholders.

Credit Card Repayment Protection, Flexi Loan Repayment Protection and Personal Loan Protection are issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (AAIL) (issuer of the unfit for work and job loss covers) and TAL Life Insurance Services Limited ABN 31 003 149 157 AFSL 233728 (TLISL) (issuer of the death cover).

TLISL is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL).

Westpac is a trade mark of Westpac Banking Corporation ABN 33 007 457 141 and is used by AAIL and TLISL under licence.

This information does not take into account your personal circumstances, so please consider the Product Disclosure Statement or policy wording. To obtain a copy please call 1300 369 989.