Ok I know what you're thinking - why is this a deal?
It's a great deal for those whom have westpac cards and are impacted by job loss or loss of income as you are effectively getting interest free terms for 3 months.
The support package means that for 3 months (3 statement cycles):
You will not be charged or accrue any interest on new card purchases or cash advances (note cash advance fees will still apply)
You will not be charged or accrue any interest on an existing amount owing on your card
You will not be required to make any repayments.
You can apply for the COVID-19 support package if you:
- held your credit card account on the 1st January 2020 and
- haven’t applied for hardship assistance on this account, or the account isn’t currently under hardship assistance and
- have been up-to-date with your minimum repayments at some point during the last 90 days and
- have lost your job or suffered a loss of income as a result of COVID-19.
- Also applies to St George, Bank SA, Bank of Melbourne (credit to Crownanchor)