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Westpac Low Rate Credit Card: Get $200 Cash Back When You Spend $400 within 90 Days of Approval (Annual Fee $59)

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Westpac Low Rate Credit Card: Get $200 Cash Back When You Spend $400 within 90 Days of Approval (Annual Fee $59)
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CyberMurning on 15/02/2019 - 11:52 westpac.com.au (4294 clicks)
Last edited 23/04/2019 - 00:10 by 2 other users

first thank you to Westpac for this $141 easy money. and credit/thanks to my friend who told me this.
Better offer was in mid of 2017 for similar cards (no annual fee first year)
https://www.ozbargain.com.au/node/316437

A Basic card so many should be able to get it. low minimum spending too. should be fine to get woolworth egift card with 5% off cashreward and then top up Opal cards and meet the requirement.
pro tip: during application it is better to specify credit limit, and select low amount (minimum is $500) unless you really want to keep this card forever (who wants????)

please use cash back exclusive link:
Help gives you 200 big ones
Get $200 cash back when you spend $400 on a new Low Rate Card within 90 days of card approval. New cards only.
https://www.westpac.com.au/personal-banking/credit-cards/low…

Card Features:
Get a low variable rate of 13.49% p.a. on purchases.
Withdraw cash at a variable rate of 19.49% p.a.
Keep costs down with a low annual card fee of $59
Pay no interest on purchases for up to 55 days when you pay off your balance in full each month.

T&C (anyone notice a typo?):
1. Cash back promotion: The cash back offer is available when you apply and are approved for a new Low Rate credit card from 18th December 2019 and 28th February 2019 and spend $400 on eligible purchases within 90 days from card approval. Eligible purchases do not include fees, cash, cash equivalent transactions, BPAY, refunds and balance transfers debited from the card account. Only one cash back will be paid per customer. The $200 cashback will be paid as a statement credit to your respective Low Rate credit card account within 60 days of meeting minimum spend criteria. Existing Westpac customers who currently hold a Low Rate credit card, or who have held one in the last 12 months and packaged cards are not eligible for this offer. Cannot be used in conjunction with the balance transfer promotion.

Referral Links

Westpac Choice Account: random (118)

Referrer & Referee get $50 after referee makes 5 card purchases & deposits $500+. Maximum of 5 referrals allowed per customer: bonus is not paid to either parties if the referral code has been used more than 5 times.

Financial Cashback Credit Card Low Rate

Related Stores

Westpac
Westpac

closed Comments

  • Bargaphile on 15/02/2019 - 11:59
    +1

    Much involved in cancelling these accounts?

    • CyberMurning on 15/02/2019 - 12:01
      +38

      there was a new ruling/law effective this year, that all credit card provider must have on their website, option for customer to cancel online.
      and yes, i cancelled 4-5 cards in the last month, all via online portal. just few clicks thats all.

      edit:
      https://www.moneysmart.gov.au/borrowing-and-credit/credit-ca…

      How to cancel your credit card online
      From 1 January 2019, all credit card providers must give you the option of cancelling your credit card online. Some banks already let you do this through your internet banking or an app. Before you cancel your credit card online, make sure:

      you cancel any direct debits
      you've paid off the balance in full, including any accrued interest and fees
      there are no pending transactions on the account.

      • railspider on 15/02/2019 - 12:14
        +4

        Did not know this! Will save a lot of time, have a couple of cards to cancel (would be even better if banks published your anniversary date on their websites too)

        • sagrules on 15/02/2019 - 14:14

          Same, thanks for sharing. What is the min limit i can apply for? is $500 ok?

      • pifts on 15/02/2019 - 16:06

        So if I am (1) eligible for the card, and (2) not a previous within 12-month card holder, this is an easy $141 cash in/cash out cancel card?

      • [Deactivated] on 15/02/2019 - 18:36
        +1

        Now they need to do this for all bank accounts… A step in the right direction

      • andyfc on 16/02/2019 - 09:16

        Great comment, cheers for the info.

    • Make it so on 15/02/2019 - 12:06
      +4

      Cancelling my Westpac card was relatively easy, in comparison to doing anything else with them.
      Honestly, their customer service is quite horrible. What they tell you on the phone is completely different to what they will tell you in the branch, and they both blame one another constantly.

      You also have to be careful as their accounts can change. I had to get my 5yo to refinance (!) because the children's account she was on was suddenly receiving next-to-no interest, because they introduced a new account (which was exactly the same!) that got a high interest rate (same rate the old one was getting). They would not move her across, so I had to close one and open another. Ridiculous.

      • Samsungnote10 on 15/02/2019 - 12:32

        Yeah. I called up twice on separate occassions.
        The first time i failed one of their 200 questions for id and got told to go into branch.

        Worst was the second time, apparently i failed the first question of my own name, and got told to go into branch.

        Was furious

        • Rebem on 15/02/2019 - 15:43
          +1

          ^^^This
          Had exactly the same issue when we fired up our Westpac accounts after a change to their (very good at the time) home loan. Took 6, yes, six visits to the branch to sort out ordinary on-boarding information and to get our accounts right. They also at one point emailed me someone else's scanned loan application forms with all their personal details. So much paperwork too, and account letters mailed to you endlessly… end rant

        • ribbonsofnight on 02/03/2019 - 22:23
          +1

          to be fair to Westpac, Hello Hello is a confusing name

      • JBucks on 15/02/2019 - 14:55

        Exactly the same issue with my kids accounts.

        • Make it so on 15/02/2019 - 15:08
          +2

          I gave them some nasty feedback, telling them that I think it's bad enough that they try to take advantage of adults, e.g. by not giving you the best rate on your mortgage if you don't pay attention for a few years. But to quietly rip off children by lowering their interest rate to almost nothing, because you are grandfathering their account, is a new low. Some more, this is a savings account, which is the kind of product a child would hold on to for a long time.

          When I asked "why can't you change it to the new account type", I was told "it is a completely new product". I be like "Uhm, it's a children's savings account with a base rate and a bonus interest rate if you make a deposit each month - that's exactly the same as the old one"
          Response: "Oh…. I suppose so".

      • twig on 15/02/2019 - 17:28

        Lol westpac… I spent ages on hold via phone, spoke to a rep, transferred to retention dept and then it hung up on me

    • SBOB on 15/02/2019 - 12:26

      cancelled a westpac black recently

      about 3 clicks on the online banking page and that was it.

      • countmein on 15/02/2019 - 13:39

        Try to find via apps and couldnt find, did you do it via browser?

        • fishball on 15/02/2019 - 13:48

          Yep browser only app doesn't have it

  • thrillho on 15/02/2019 - 12:01
    +4

    How bad for your credit rating is continually getting and then cancelling these cards once you've received cashback?

    I've done this with CommBank twice and also have had a few QFF cards. Never paid a dollar of interest, however.

    • CyberMurning on 15/02/2019 - 12:05

      well, look, i got conditionally approved for $500 credit limit. how bad $500 will affect your rating, well its all depends how good is your rating is. for me, $500 is nothing. plus i dont intend to get mortgage in the next 6 months anyway.

    • fatice on 15/02/2019 - 12:06
      -3

      Credit rating is not about how trustworthy the client is. It's about how much money the company can milk from the client.

      • aussieolfaction on 15/02/2019 - 13:37

        Credit rating is not about how trustworthy the client is. It's about how much money the company can milk from the client.

        It's actually a measure of the likelihood of the borrower being able to repay the loan and interest. It's not as if someone with a higher credit rating will be levied with a higher interest rate when compared with someone having a lower credit rating.

        • sghetti on 15/02/2019 - 14:53

          Correct, it goes the other way though ;)

    • sghetti on 15/02/2019 - 14:52

      It's not necessarily going to affect your credit rating per se. Comprehensive Credit Reporting (CCR) will probably change that though (both good and bad).

      When credit card applications are fed through bank lending systems, it requests your credit file. This is then presented to the service staff/credit assessment teams and they can see your history. This doesn't necessarily tell them what credit cards you currently have, or how much you're owing on those cards. It will tell them if you've had an bad credit reports, rejected for a loan/credit card, missed payments for cards or bills.

      But if the staff see multiple queries to your credit file from other credit providers within a short time-span, this can raise flags as to whether you've loaded up on credit recently, as this can be a risk.

      I work for an institution and opened up a credit card with them, they queried me on another query on my file from another credit provider a week before I applied for this one. The other was a "credit card" for overseas travel as we were heading to Thailand in a month or 2.

      In short: Until CCR and Open Banking is in full swing, Credit Files are generally a log of BAD credit history, defaults, late payments etc. Queries to your credit file are also logged, as this is pretty much only performed by Credit Providers so it can be a flag that you're opening up a lot of credit cards/loans at the same time (which you may not have declared).

      CCR and Open Banking will have good and bad effects on files. It will now lodge good credit behaviour, positively effecting your score. But it will also allow them to delve deeper into your transactional behaviour

  • LeVuHoang on 15/02/2019 - 12:06
    +1

    How bad this offer affecting to our credit? I cancelled 2 credit cards last year.

    • CyberMurning on 15/02/2019 - 12:07
      -4

      see my reply 2 mins ago. there is no " our " credit. everyone credit rating are different. everyone financial circumstances are different.

  • isthisreallife22 on 15/02/2019 - 12:19
    +1

    Not clear to me whether eligble if you hold an Altitude card

    • CyberMurning on 15/02/2019 - 12:21

      if your card is not on the tandc then you are eligible?
      Existing Westpac customers who currently hold a Low Rate credit card, or who have held one in the last 12 months and packaged cards are not eligible for this offer.

      pls visit the previous old thread and you'll see their t&c was different, means it is not generic.
      https://www.ozbargain.com.au/node/316437

      • [Deactivated] on 15/02/2019 - 12:23
        +2

        It seems eligible.

        • ilikecats on 15/02/2019 - 15:12

          When refinancing our mortgage broker actually told us to reduce our credit card limits or cancel cards altogether.
          Would like to think cancelling credit cards without incurring interest aka paying your closing balances out should be ok :)

  • [Deactivated] on 15/02/2019 - 12:24

    Does anyone know the minimum salary to apply for this card?

    • douglasac10 on 15/02/2019 - 19:02

      Given it's a base level low rate Visa card and their Altitude Platinum has a minimum income of $30000, I would say it would be less than $30000.

  • txb on 15/02/2019 - 12:37

    On an unrelated note. How do i save this deal for me to refer back into a few weeks time?

    There should be a save deal button or something

  • txb on 15/02/2019 - 12:43

    Thanks blue and m9. Learn something new

  • Hunter14 on 15/02/2019 - 12:45
    +3

    Thanks OP. I'm still patiently waiting for the next free annual fee 80-100K Qantas points deal to come through. Already burnt through the spending requirements from Westpac and St George. Got a lot of expenses coming up.

    • Ash1122 on 15/02/2019 - 12:59

      https://www.ozbargain.com.au/node/433394

      Something like this?

      • Hunter14 on 15/02/2019 - 13:23
        +1

        Yes exactly like that. The only problem is I already got it and spent it :)

        • tunzafun001 on 15/02/2019 - 14:13
          +2

          Same. Normally I start looking at the 2nd tier off radar cards. Ie Qantas Money, Jetstar etc. The Virgin Money is probably the best with 60k points for $60 odd dollars pa (but twice the value gift voucher to offset it).

          However, be warned. They are absolute snakes and will try and do everything to deny you have made an eligible spend. My advice would be to call and ask if your bills are eligible (ie council rates, water etc etc), and record the conversation, record the persons name, date, time.

          Then use the details via the FSO to get your points. I was refused the points by senior management, but was awarded the points 2 days after lodging a complaint with the FSO (which is now something different) AFCA or something like that.

  • tempura on 15/02/2019 - 12:49

    watch out for Commissioner Hayne

  • OzBrogains on 15/02/2019 - 13:09
    +6

    I'd rather wait for bigger fish to fry rather than getting this one and risk preventing future CC's due to the credit history check. $150 is enticing but not on the scale of 80-100k points.

  • overkillxx on 15/02/2019 - 13:25
    +1

    Interesting.. I went to apply for this & it declined.. Never had that happen before.. Given my credit history and income that is extremely odd.. Ringing them to find out more details..

    • beOson on 15/02/2019 - 13:49

      I feel that once you have more than 3-4 cards, you get declined easily even on those low credit limit card applications. It happened to me when I tried to sign up CBA's low rate card ($1000 credit limit).

    • kehuehue on 15/02/2019 - 16:08

      declined as well, and I hold only 1 cc. let me know if they tell you, I will do the same

    • overkillxx on 18/02/2019 - 12:20

      Well thats interesting.. I applied the second time and this time let them calculate what my limit would be.. Before I asked for 600 dollars only.. It succeeded this time but gave me a RIDICULOUSLY high limit. I just simply rang them after and told them to lower it back down to 2k instead. Not sure why it seemed to decline first time.. All my details were the same.

  • jobargain on 15/02/2019 - 13:37

    What is packaged card?

    • CyberMurning on 15/02/2019 - 14:06
      +1

      card that comes free because you have mortage loan package (usually with offset account)

  • Cheemeister on 15/02/2019 - 13:42

    I remember reading somewhere here that there's a better card for buying Woolworths eGift cards. I buy them a lot, so I'm interested in making the most of it. Can someone point me in the right direction?

    • [Deactivated] on 15/02/2019 - 15:23

      Amex platinum edge (3 points per daler)

  • drfuzzy on 15/02/2019 - 13:46
    +5

    If you read the terms and conditions Westpac should wave the $59 annual fee for the first year.

    +No annual card fee in the first year promotion: The first year annual card fee waiver is available when
    you apply for a new Low Rate or Altitude Platinum card between 28th November 2018 and 2nd April 2019.
    The first annual card fee will be debited on the 12 month anniversary of the first transaction on your account
    and annually thereafter.

    I've saved a copy the terms and conditions in case I am charged a fee.

    • aussieolfaction on 15/02/2019 - 13:52

      Thank you for that. Could you please let me know where this is specified? I'm unable to find this in the terms and conditions document.

      • 8anddrank on 15/02/2019 - 14:08
        +4

        Key Facts Sheet

      • drfuzzy on 15/02/2019 - 14:30
        +1

        I suspect the promotions are supposed to be mutually exclusive/ not combined.
        However you can find both in the terms and conditions if you go digging through different pages.

        • congo on 15/02/2019 - 16:24

          Already have the Westpac Amex platinum so I guess I won’t be eligible for this ?

    • Autonomic on 15/02/2019 - 16:00

      It does say not valid in conjunction with any other offer.

  • No ONE on 15/02/2019 - 14:19

    I applied for 2 cards in the last 2-3 months. Would it affect my rating? I closed the one few days ago.
    Currently have 2 cc.

  • Maxdax on 15/02/2019 - 14:41

    With the recent CBA cashback deal, My cashback credit also co-incided with the fee billing (i think $49) - Hidden somewhere in the T & C's - " if you close your card within 30 days of fee billed, we will refund you." So I actually got the whole $250, as compared $201 after fee as they refunded the fee. Not sure if Westpac is the same.

    • No ONE on 16/02/2019 - 10:37

      How did they refund you after closing the account, through cheque or other means? I closed mine within 30 days of opening.

      • Freaksta on 05/03/2019 - 21:44

        I gave them a call, they said only way to get back the fee is to go into the branch and they will give you the cash or transfer to bsb/acc. This is for combank.

  • moorey on 15/02/2019 - 15:16

    After signing up for the Low Rate CC, I realised I didn't click through the "exclusive link". Any issues there?

    • CyberMurning on 15/02/2019 - 15:17

      No big issue. Only you won't get 200 cash back.

      • [Deactivated] on 15/02/2019 - 15:22

        You think with Westpac black credit card, still eligible?

        • CyberMurning on 15/02/2019 - 15:28
          +2

          GEeeesus, please read my post i have put all info there including t&c. do you see any word black there means blacks are fine.

      • moorey on 15/02/2019 - 16:25
        +2

        All sorted. Had to call the bank to update the application's promocode (200CB)

  • sugardumpling on 15/02/2019 - 15:24
    +1

    Thanks OP I just applied this and got approved right away :)

    • CyberMurning on 15/02/2019 - 15:29

      wow i thought my 3 hours from applied to get approved is good, but you beat it

      • sugardumpling on 15/02/2019 - 15:31

        Oh What I meant.. I applied and got conditionally approved. Submitted my payslips and an hour later got an email saying approved :)

        • CyberMurning on 15/02/2019 - 15:33

          yeah, this is basic card if people put credit limit $500 all should get approved. if not i will be very worry, something bad on your record haha

  • Cunning Linguist on 15/02/2019 - 15:36

    "The $200 cashback will be paid as a statement credit to your respective Low Rate credit card account within 60 days of meeting minimum spend criteria"

    Given the maximum interest fee period is 55 days and the credit won't be paid until 60 days after the threshold is met it should be noted that there's a good chance you won't receive the $200 credit until at after the first $400 payment is due. So basically you need to spend over $400, pay that back, then spend $200 the next cycle to make use of the $200 credit you receive in the second cycle.

    I imagine this isn't a big deal for most people, but worth stating in case someone was intending to spend $400 but can only afford to pay back $200.

    • CyberMurning on 15/02/2019 - 16:41

      that is the standard knowledge for people like me who god dont know many cc i have had in my life.
      apply, spend asap, pay off immediately (even before 1st statement is out), wait for points, cancel card, repeat.

      • Cunning Linguist on 15/02/2019 - 17:09

        It's a cashback credit though, not points. Do you know if you can withdraw the credit as cash when closing or do you have to spend it?

        • CyberMurning on 15/02/2019 - 17:17

          You have to spend it. It's credit.

      • Trendyoz on 19/03/2019 - 22:28

        Does rates/ rego count as valid spend?

  • pHyR3 on 15/02/2019 - 15:53
    -2

    So, if i held the altitude black a few months ago am i still eligible for this bonus?

    • garyf on 15/02/2019 - 16:01

      The T & C does not say that you would be ineligible for the bonus if you held the Altitude Black card a few months ago (only the low rate credit card), so I would say you would be eligible.

  • Numpty21 on 15/02/2019 - 16:27

    trying to apply but can't get past step 2.
    have filled everything out but just freezes at this point.

    Anyone having the same issues?

  • JohnyEnglish on 15/02/2019 - 16:34
    -1

    https://www.commbank.com.au/latest/250-cashback-2018.html

    this better deal with cba, $250 cashback and annual fee just $59

    • Numpty21 on 15/02/2019 - 16:40

      that offer has ended

  • MattBrisSyd on 15/02/2019 - 16:38

    Thanks OP, just got approved for one.
    Got a much larger credit limit than I expected though, I must've missed the part where I can choose a limit.
    Or was it not there at all? haha

    • CyberMurning on 15/02/2019 - 16:39

      doh, read my post i mentioned about changing limit….

  • mooimachicken on 15/02/2019 - 16:46

    any kind of referral bonus?

  • aj-007 on 15/02/2019 - 18:07

    Don't these cancellations affect ones credit score?

  • deeeno on 15/02/2019 - 20:22

    Was rejected, must've missed a zero somewhere! (Was approved for St George Amplify Signature last month too)

    Also put the limit at $500, maybe mis-typed and tried $50,000…

    • maccam01 on 16/02/2019 - 10:26

      I applied for $1500 and just got the terms. It said the minimum credit limit was $1000. So maybe try for $1000.

  • kadaj on 15/02/2019 - 20:27

    When do they slap u annual fee? Is it on first transaction or next anniversary? Can I close my account after I use my $200 cashback before they charge me annual fee?

    • passwordistaco on 15/02/2019 - 21:49

      Usually within the first statement, at latest the next. If you want this deal - you'll be paying the fee.

  • freemoneyhunter on 16/02/2019 - 10:18

    Thank you ChiMot it's a good deal you have found.

  • Cortylok on 16/02/2019 - 12:25
    +3

    Anyone else notice that it says "from December 2019 and 28th of February 2019…"

    So is this deal for before or after the end of Feb?

  • financialminimalism on 16/02/2019 - 14:10

    Good offer. Thanks OP. Might sound silly, but I use these offers where they give you credit / cash back to fund the annual fees on QFF points offers. I just like the idea of the banks funding their own annual fees so I can get free points. Between ING, CBA and Westpac, I’ve been able to get hundreds of thousands of points for very little out of my own pocket.

  • masterzion on 17/02/2019 - 15:20

    I got this offer from Westpac mobile banking and they given no annual card fee in the first year as existing westpac customer.

    • Jasonn on 24/04/2019 - 12:58

      I signed up as an existing customer through mobile banking as well. Would you happen to know where I can find a copy/screenshot of that promo - in case they charge me with the annual fee anyway?

  • ShopResponsibly on 18/02/2019 - 15:05

    I got an error after filling up the form….

    We are sorry
    We seem to be experiencing problems. Please try later again
    The credit card application form is currently unavailable. We apologise for any inconvenience caused.

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