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Westpac Low Rate Credit Card: $200 Cashback & 0% p.a. for 20/Mo on Balance Transfers ($59 Ann Fee, $1000 Spend Req'd)


$200 Cashback and 0% p.a. for 20 months on balance transfers on the Westpac Low Rate Credit Card ($59 Annual Fee)

Spend $1k minimum spend on eligible purchases within 90 days of card approval.
Balance Transfer Fee is 1% request at card application to transfer balance(s) upto 3 non-westpac creditcards

Cashback: New cards only. Conditions, If you currently hold, or have held Westpac Low Rate credit card in the last 12 months you are not eligible for this offer.
T&Cs apply.

Eligible purchases do not include interest, fees and charges, cash, or ATM cash advances, cash equivalent transactions, gambling transactions, payments to the Australian Tax Office, government charges, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited from the card account.

The website say it take up to 90 days for cashback credited into the account but I mine arrived in less then a week.

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  • +2

    $59 annual fee.

    • Will this be charged if you get your cashback and then cancel?

      • It may be possible to beat the annual fee if you're quick enough and the cashback is quick enough.

        Having apparently succeeded at doing that with Commbank CBA Low Rate Credit Card $200 Cashback if You Spend $1,000 by 31 January 2021 (Existing CBA Customers), I'm up for trying it with Westpac.

        Last time I had a Westpac LR the annual fee was charged on the final day of the first monthly statement. Unfortunately the cashback took almost three months … but I'm willing to take another shot at it.

        • You can try to ask for the annual fee back after closed the CC.

          I did that in this deal from last year.

          It would also be easier if you also have an active saving/transaction account with them so they can credit back into there.

          • @timhn: Thanks, that's worth a shot.

            • @the splingee: did you manage to get the annual fee refunded?

              • @skido: Hasn't been charged yet.

                • @the splingee: have you received Cashback and cancelled?

                  • @skido: In summary, the cashback arrived roughly a fortnight after completing the spend requirement, so it certainly appears possible to beat the annual fee (charged on the first statement).

                    For various reasons I didn't complete the spend quickly enough so the fee was charged. I opened a Choice Everyday Bank Account and called up to close the card and request the fee to be refunded as timhn suggested.

                    The guy on the phone agreed to refund the fee. Initially he wasn't sure whether it could be refunded into the Choice account, but when he started the process he saw the option. He said it would take 2-3 business days, which proved to be accurate.

                    Thanks again to timhn.

                    • @the splingee: thanks for the update!

                    • @the splingee: Hey sorry if I just somehow misread what you wrote.

                      You mentioned the cashback came in a fortnight but also you didn't complete the minimum spend. Were they 2 different scenarios? As in when you had CBA etc. I'm confused why they gave you the cashback before the spend, or is that how these things work?

                      I'm contemplating applying but looking at my spending habits, if I exclude BPAY and any irregular payments, such as car breaking down etc there is a very real possibility I won't hit that min spend in 3 months let alone 2 weeks. So what I'm wondering is, can I buy gift cards? Is that an eligible transaction. Would anyone know?


                      • @VeeKTOR: If you meet the spend requirement, you may receive the cashback in roughly a fortnight. (But it won't necessarily be the same amount of time for everyone.)

                        The annual fee was charged on the first statement, at the end of the first month. Therefore if you meet the spend requirement quickly after you've activated the card, you could potentially receive the cashback and close the card before the end of the first month (therefore before the annual fee is charged).

                        If you do not meet the spend requirement quickly enough then you won't be able to beat the annual fee being charged at the end of the first month. In which case you can still call Westpac to close the card and request that the annual fee be refunded. But do it as soon as possible or they may not agree to refund the fee, depending on how much time has passed.

                        Purchasing gift cards would be an eligible transaction.

                        • @the splingee: hmm im happy to see your way works, but on your second scenario:
                          in which case you can still call Westpac to close the card and request that the annual fee be refunded.
                          calling is after we get the cashback or after? i guess after, right?

                          are you sure buying giftcards are fine? what kind of giftcards and from where?

  • +2


    • Unless it's possible to meet the spend requirement, receive the cashback and close the card before the annual fee is charged.

      Maybe not a safe bet with Westpac but I'm willing to take a shot at it.

    • $200 :)

  • How about existing once?

    • If you're switching from another Westpac Credit Card you're not eligible for the offer but if you're doing a new credit card application you should be fine. (as long don't currently hold, or have held Westpac Low Rate credit card in the last 12 months).

  • -1

    Are you sure you can get both Cash back AND 0% balance transfer?

    Usually as soon as you spend on purchases, interest kicks in.

    • Balance transfer is separate from purchases/spending.

      Any money that you pay to the bank will cover the purchases first, the the rest will cover the BT.

    • Many banks have recently changed their policies to let you spend whilst you hold a balance transfer and maintain the interest-free period, including Westpac and others, like St George, HSBC, etc.

      • Thanks. I'll look into it

  • +4

    Good luck with getting the cash back and balance transfer from Westpac. Had to make multiple branch visits and phone calls to get my balance transfer going. Ended up closing the card and wasting an entry in my credit check. Possibly the worst bank I have dealt with.

  • Any way to get refund for annual fee? Otherwise not worth the effort.

    • Switch to a Low Fee Credit Card or another Westpac Credit Card once you got the new card and activate call 1300 651 089 and request an annual fee to be refunded then cancel before end of the statement period.

      • huh? if changing card type then you wont be eligible for the cashback, right?

  • Westpac need to train their counter staff. Twice, I found they have no idea how to setup or assist customers with automatic credit card payment from a non-WP bank account.

  • according to my note i cancelled my low rate card 26/7/2019
    good timing will re apply

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