Westpac Low Rate Credit Card: $400 Cash Back with $4000 Spend in 120 Days, $0 Annual Fee 1st Year (Save $59), New Customers Only

1250

Low Rate Cashback promotion: the cashback offer is available when you apply and are approved for a new Westpac Low Rate credit card between 31st August 2021 and 30th November 2021, and spend $4,000 or more on eligible purchases within 4 months (120 days) from card approval. […] Existing Westpac customers who currently hold a Low Rate or Lite credit card, or who have held one in the last 12 months, are not eligible for this offer.

$400 cashback with no annual fee is not too bad if you've finished with the ANZ rewards offer. $4k is a high amount but is spread over 4 months instead of the usual 3.

Related Stores

Westpac
Westpac

Comments

  • currently have a joint credit card and joint debit card with them, am I still eligible?

    • +2

      Pretty sure you can't have a joint debit card, and it would depend if you are the primary or secondary card holder for the credit card.

      • He probably just meant a joint transaction account with 2 separate debit cards.

  • +1

    Thanks op, better to be clear that only waived first year's card fee which is $59.

    • +1

      Good idea.

      • -2

        Seemed good.
        But we are dealing with Westpac Bankers here… so not a good deal.

  • Can it be used to pay bills? Will it still be eligible for $400 cashback if $4000 reached?

    • +1

      No don't think so - bpay is out, would need to be a non gov (gas/elect) that allows Cc payment.

      Have to wonder if PayPal is cash equiv?

      Eligible purchases do not include interest, fees, charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account.

    • You can probably use a 3rd party payment provider such as Sniip to pay bills. A 1.5% surcharge is taken however which will eat into the benefit of this deal somewhat.

      • Free with beemit

        • +6

          Beemit BPAY payments will be treated as BPAY and won't be counted towards the eligible spend amount. In contrast using a platform such as Sniip or B2BPay will allow your purchases to count towards the total, at the cost of incurring a slight surcharge.

          • +7

            @CaptainHoltisDad: There is so much knowledge and experience expressed in this forum, it is no wonder people will ask questions in this forums that they normally would normally consult professionals more than a decade ago or may not consult at all.

            • -1

              @htc: Yes and No. There's some very good knowledge here BUT it's around 5%. The rest is just usual internet noise and personal experiences with unrelated characteristics which are either irrelevant or plain incorrect. The trick is to identify the 5% and filter out the rest.
              I'll give you a head start :) - IGNORE all blanket comments. e.g 'Avoid it like the plague' type stuff. On the flipside, read the ones that show and describe their thought process.
              Of course you are free to ignore my comment too ;)

              • @gimme: Often comments with plus and negative draw my attention due to time limitation, but if the post is on a deal that I am interested in, I will read most if not all comments in case I miss any important information. If the forum gets to a lot of pages, often the first few comments and the last few got read. I won't ignore your comment as you replied me. Although I do pay attention to comments like avoid like plague as it will warn me of potential issues. Yes comments that show thought process are good but probably have to filter a lot of comment and it will take time. Of course not all comments will be useful, my point is that some people post on forum in the hope they can get some useful info, in many occasions people get roasted because they got a fine and try to get advice to get out of the fine, or were told to talk to lawyer etc. It is true that person should seek professional legal or financial advice, but it always comes with cost and not to mention you have to wait for an appointment. It is helpful to see other people experience before making a decision and then seek professional advice because now he or she know what questions to ask. Yes I tend to ignore comments means nothing eg bikies, looks like it is getting out of fashion as I haven't seen one lately, I really want to know if anyone has actually used their service and share their experience, or perhaps the next AMA topic could be I am a bikie ask me anything.

          • @CaptainHoltisDad: Is this the same for all banks? Have you tried it?

          • +4

            @CaptainHoltisDad:

            Beemit BPAY payments will be treated as BPAY and won't be counted towards the eligible spend amount.

            BeemIt BPay payments earn reward points (on cards that earn reward points), which suggests they are treated as normal credit purchases and would count towards eligible spend.

            It has been suggested on another deal that BeemIt counts.

          • @CaptainHoltisDad: I can now confirm that BeemIt BPay counts as eligible spend.

    • +2

      Yes you can. Just don't use BPAY. Many providers have an option to directly pay on their site. Some even do postbillpay where you can use Paypal.

  • Reading this, I should be eligible if I have an Altitude Qantas card from Westpac, or am I missing something?

    • +2

      Existing Westpac customers who currently hold a Low Rate or Lite credit card, or who have held one in the last 12 months, are not eligible for this offer.

      No exclusions in the T&C mentioned for any other card…

      Just received my $650 credit for the Altitude card, time to churn baby!

      • Same here, just got my 140k Qantas point. Time to move on.

        • How did you get 140k Qantas points? I thought that deal was for 130k Altitude rewards points?

          • @thestig: Didn't do anything. Just got a Qantas Altitude Platinum card last year in December and for some reason received 70k points twice. Once in March and then again in June.

      • Hi @muncan,
        I read the other post, but I still don't understand how to convert the reward points into annual fees rebates? Is this online?

        • +1

          Sign in to Altitude Rewards, then go to Gift Cards and Cashback, then go to Financial Services and pick from the Annual Fee rebate options. You can apply 2x$250 and 1x$150 with the 130K points. The AF rebate comes as statement credit for you to spend on purchases. Enjoy!

      • Is this the annual fee rebate? What does it actually do - from the site, it's to rebate annual fees but if you get $650 worth, doesn't that mean you have to keep the card for many years and thus, defeating the purpose of credit card churning?

        • Ignore everything the website says and just listed to us OzBargainers. It’s applied as statement credit and you can stack multiple rebates in the same points redemption.

          • @muncan: Thanks for replying promptly! I was just gonna say, ignore my comment as I read your other comment up top :)

            • +1

              @everydayimbargaining: No problemmo. I have almost $650 in transactions since my last statement, and the “AF rebates” have zeroed my debt. Actually they owe me $10 currently…

  • I have a Westpac Black card, I assume I will be eligible for the offer ?

  • good offer, thanks.

  • Issues when application, stuck in searching branch at preferred branch.
    After put either suburb or postcode, it keeps showing "searching"
    anyone has same issue?

  • Thank you op. It was time to abandon Suncorp CC and jump onto whatever on offer.

  • Thanks op. Just applied. Needed to buy some stuff but feels bad if I'm not churning some credit card in the process lol. I've run out of options, so 400 bucks is good enough.

  • Is is the best value cashback credit card atm?

    • The 130K points card is $650 “cashback”

      • Only for existing customers

        • +1

          Note, no fee if you are an existing customer - you can just open the debit/transaction account with them.

          • @muncan: Thanks, just signed up for the Altitude rewards

            Hope I get the card soon

  • What bothers me that I need to list all my existing credit cards with their limits rather than only specify total amount.

    • Why? You have too many to remember?

  • +1

    There are much better offers out there, including the HSBC Platinum credit card (3000 spend, $600 vouchers, $0 annual fee). 2 minutes to open an online transaction account to be eligible.

    https://www.ozbargain.com.au/node/626191

    • I was hesitant to sign up because it says for existing customers. Can you confirm that it is also for new customers?

      • +2

        I got it as a new customer. It took over 30 days after spending $3k to get the points, which I converted to $600 cashback.

        Their app is clunky and pretty crappy. I'll be cancelling the card in the next few days. The free cash was nice 🙂

        • Yeh I'm looking to get myself some braces, $600 discount will be nice 🙂

    • Nice, I’m thinking about applying but it says new customer only, our of curiosity when did you apply?

      Just wondering if I should just roll the dice and try anyways

  • If anyone wants tips I'm not sure if they are eligible but:

    Prepay your bills early- origin allows you to do this and go into credit

    But online Woolworths $500 vouchers
    I did these with the HSBC one ..still haven't received the $500 bonus lol
    Cheers

    • +1

      Just don’t prepay your council rates, like I did. Doh. Government transactions don’t apply for points or bonus points with Westpac.

      • I think banks might be cracking down a bit on this. ANZ just denied me for paying rego.

      • +1

        It may work if you BPay from credit card via BeemIt. Doing so earns reward points (on cards which earn rewards points), which suggests they are treated as a normal credit purchase and that they would qualify for spend requirements.

        Not confirmed but I'll be trying it.

        • Make a note of your rewards point balance before you do. Once the payment is no longer pending, you should see your point balance increase if it was successful. Good luck!

          • @muncan: Points earning on BeemIt BPay has been confirmed multiple times, it's just whether or not it qualifies as eligible spend. But if it earns points then I see no reason why it shouldn't also count as spend.

            I'll be testing it on a brand new card so it'll all be clear.

          • +1

            @muncan: I can now confirm that BeemIt BPay counts as eligible spend.

            • @the splingee: Thank you for your service to the community.

              • @muncan: No problem. That was with a CBA card but there's no reason why it shouldn't apply in general.

                P.S. You can earn ING Orange Everyday $0.50 cash out bonuses simply by using BeemIt to transfer money.

  • -3

    Bonus qantas points or don't get out of bed

  • +3

    This is also still valid and a better offer imo https://www.ozbargain.com.au/node/634594
    You can avoid the AF (if you're not yet a customer) by just creating a new Westpac account on the spot before applying for the credit card
    130k points can be redeemed for $650

    • Ye but I've already churned the Qantas plat so I don't think I can get another ALTITUDE points one right??

  • +1

    How is the $400 'given back'?

    A cheque?

    Tax free?

    • According to their website the $400 cashback will be paid as a statement credit to your Low Rate credit card account within 60 days of meeting the minimum spend criteria

  • Just got denied. I recently got the HSBC and the wetspac altitue platinum sucessfully. I only requested 1000 credit, but otherwise pretty normal.

    • -2

      Because you only requested 1000 credit, not profitable to Westpac.
      I always open to maximum credit and reduce once approved.

      • My bad…. I am guessing that was the mistake.

        • Nope, that's got nothing to do with it. More likely it was recently getting other cards, depending on how recently you mean.

          • @the splingee: Yeah it was really recent, like last month both. I guess I overpushed my luck

      • The maximum was 25k though, so I guess that was too much hehe

      • Just got approved for 1000

    • -1

      HSBC is like the first bank that ever rejected me… probably because I signed up the 100 bucks bonus account and gapped…

  • How safe is the Online income checker? I'm not comfortable entering in my main banking username and password with westpac

    • +1

      I just uploaded my payslips.

      • Yeh same

  • If I have altitude rewards card, am I eligible?

    • Same here on the black altitude rewards and getting jack value from it during pandemic as it's only 6:1 on airline spend…. don't think this offer applies specifically for their low rate card?

  • +4

    Going to be honest
    Yes credit card offers are few and far between at the moment but only take this card out after you've churned almost everything else out there

    • Guilty as charged 😊

    • +1

      I just got the ANZ Black rewards card. I did notice my credit rating when down when ANZ checked up on me and then when I received the card. So one needs to be wary of this.

      • +1

        yes you typically get an approx 30pt hit then goes back up in 3-4mths (from my experience)

  • Stuck at the 'preferred branch' section as the branch finder system won't work.

    • When we had the lockdown in NSW they required me to come to branch to show ID despite being a customer with Westpac and uploading the documents online

    • same issue to me, tried from two computers. Looks like bug from westpac website.

  • Any good cards for Krisflyer?

    I'm close to 375k pts, that gives me around the world first class!

    I may be signing a home loan with Westpac, so I could possibly go for their CC. I cant do ANZ til November and currently just have an AMEX.

  • Applied yesterday and approved today. Way better than HSBC.

    • -1

      Even better than other big banks that you can use the card immediately online without wait for the physical card.

  • Eligible purchases do not include interest, fees, charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account.

    cash equivalent transactions = buying giftcards??
    local, state or federal government or government related agency = council fees, water bills??

  • I have this card with no annual fee for life. Anyone else?

    • nup, only you, you are so special.

      • I must be.

  • Existing Westpac customers who currently hold a Low Rate or Lite credit card, or who have held one in the last 12 months, are not eligible for this offer.

  • Should people wait a few more months after receiving the cashback before cancelling, to avoid their credit rating being negatively impacted?

    • +2

      No

    • -2

      i normally keep it and still use it for a year before cancelling.
      So they could make some money back and keep providing such offer.

    • Credit ratings don't work like that.

      • +1

        You're right but there's one other factor to consider. Nobody knows exactly how the bank risk assessment algorithm works in approving/rejecting applications. I've never had anything rejected despite churning through fairly regularly but there are some examples out there where people with seemingly good credit scores get rejected. Time between applications may/maynot be a factor as each bank is different and they'll never tell you specifically what they look for.

        • +1

          LOL, my credit score went up by +100 this month compare to last 3 months. All because I applied 2 more CCs in Aug and closed one account (although the information of the account that closed hasn't updated yet)

          I wouldn't worry much about credit score/rating as long as you have a good history - stable job, decent income, good repayment history.

          As gimme said, each bank has their own algorithm to access the risks. I've found I got easily with Citibank (almost instant approval within 48hr without any additional request) than ANZ (much longer delay to process and sometimes they call me to double check).