• 0% pa. for up to 6 months on balance transfers, requested when you apply.
• 0% pa. for the first 6 months on purchases
• Annual credit card fee – currently $45.
• Interest free days – up to 55 interest free days on purchases as long as you pay your closing balance (including any balance transfer and promotional amount) in full by the statement due date each month.
• Interest rate on purchases – 13.49% p.a (variable).
• Interest rate on cash advances – 21.49% (variable)
• Choose either MasterCard of Visa
• Enjoy the latest in contactless technology. Simply hold your card against the Contactless terminal and once the purchase is approved, you’re on your way
• Apply by the 16th of March 2012
• Read the terms and conditions

• Very low purchase rate of 13.49% p.a.
• Excellent balance transfer offer
• Equipped with Visa’s PayPass technology for PIN-less purchases under $100
• Low minimum income threshold of $15,000
• Quick online approval
• No reward program or perks at all
• Annual fee of $45 p.a. despite not offering many features

How does the Westpac Low Rate Credit Card compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	Westpac Low Rate Credit Card	13.49%	21.49%	$45	0%	6 months
	The Average Credit Card	17.13%	21.03%	$95	2.87%	8 months

You can transfer from:



• American Express
• ANZ
• Aussie
• Bank of Melbourne
• Bank of Queensland
• Bank SA
• Bankwest
• Citibank
• Commonwealth Bank
• HSBC
• NAB
• St.George
• Suncorp
• Virgin
• Woolworths

You cannot transfer from:



• Westpac

The Westpac Low Rate credit card is a no frills card with low interest rates on purchases. It is designed for people looking for a cheap credit card that they can fall back on to cover costs in emergencies or to take advantage of its comparatively low standard purchase interest rate. For a full Westpac Low Rate credit card review, covering all the bases, read on.

Pros

The most obvious benefit of this card is its low purchase rate. At 13.49% p.a., it’s a good 4% less than the market’s average standard rate on purchases. If you want a card that keeps your interest repayments low, then this is one to look into.

Continuing on with the cheap interest theme, the Westpac Low Rate credit card also has a cheap balance transfer offer of 0% p.a. lasting 6 months. It isn’t as cheap as the leading balance transfer deals available on the market, but it’s still most likely a lot less than the rate you’re currently paying.

The Westpac Low Rate credit card, like other offers from Westpac and competing banks, also has a 55 day interest free period on purchases provided the balance is paid off in full by the end of the month. Essentially this means that you could use the card and not be charged interest, but it does rely on you not spending more than you can afford.

Another useful feature of this card is the integration of PayPass contactless technology. The addition of this feature means that you won’t have to enter your PIN if the merchant has a PayPass capable payment machine. All you have to do is swipe or tap the machine and payment is authorised, saving you time.

Cons

This is a no frills card, so it would have been nice to have no annual fee to pay. Alas, the Westpac Low Rate credit card has a $45 p.a. annual fee that must be paid to keep the account active, even if it hasn’t been used. If the annual fee is a deal breaker for you, check out the many other credit cards available on our site with no annual fees.

The Westpac Low Rate credit card’s introductory balance transfer offer may be useful, but at 0% p.a. for 6 months it fails to challenge the top balance transfer deals available. However, if you’re just looking for a cheap card for emergencies, the balance transfer offer may not be the deciding factor anyway.

Conclusion

A basic no frills credit card with low interest rates on purchases, the Westpac Low Rate credit card does what it says on the tin and no more. If you want a credit card without rewards or benefits and just want to save money, then this card is hard to beat.