Westpac Low Rate MasterCard: $400 Cashback with $4000 Spend in 4 Months ($59 Annual Fee, $0 First Year, New Cardholder Only)

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Came across this Low Rate Card which is offering $400 cashback with $4k spend in 4 months (New cards only).

$0 First year annual card fee
$59 Annual card fee ongoing

13.74% p.a. Variable purchase rate
21.49% p.a. Variable cash advance rate

$500 Minimum credit limit
$30,000 p.a. Minimum income required

For the rest of the info and T&Cs visit: https://www.westpac.com.au/personal-banking/credit-cards/low...

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Comments

  • Mastercard

  • Sweet. Thanks OP

  • +8

    I have this (almost at the end of first month), but there was lots of stuffing around with the activation process. Not that keen on Westpac now. I'd probably give this a miss if you have other deals you can choose from.

    • +1

      Did you have to go in to a branch?

    • +2

      Echo that. Westpac even forgot to post the card.

    • I had a similar experience. I had to go into a branch to set up the account and when the card arrived I couldn’t activate it via the app and had to call.

      On the flip side, they issued the bonus points very quickly. Within 24 hours of teaching min spend. I’ve been waiting months for Amex and HSBC to come good.

    • Same here. Waited over a month for the card in the mail after i received the email that my app was approved. After calling them up, realised they were waiting for me to send them ID (which they had already)

      Such a pain in the ass.

  • how does $400 compare to 100k QFFs usually besides the different requirements

    • +4

      100k qff worth $700-$900.

      The good thing about this card is very low wage requirement

      • $30k minimum income. which other cards with same wage requirement have better offer?

        • Altitude Platinum QFF, ANZ FF Platinum

          Basically any low/no annual fee credit card with 6k credit limit has 30k annual income.

          • @burgermaniac: I believe those 6k credit limit has 35k annual income

            • @fomal: It depends, sometimes you can get away with 30k income on 35k minimum, and vice versa.

              Other times you can have 35k minimum income on a 30k minimum income and you will still be rejected

  • what type of purchases are eligible purchases? I'm thinking of getting a brand name wallet for my wife and it might come handy

    • +4

      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.

      Any transaction would be valid apart from the above mentioned ones.

      • thank you

  • but why?

    • +3

      Because you get $400 cashback?

      • +7

        $4k+ Spend seems too much :D

  • +1

    Ends 24th Feb, you can get the deal if you have held e.g. Westpac Altitude Platinum for QFF points.

    Low Rate First-Year Card Fee Waiver: is available when you apply and are approved for a new Low Rate credit card between 31st August 2021 and 24th February 2022. After the first year, the $59 annual card fee will be debited to your account annually on the 12-month anniversary of the first transaction on your card account.

    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 24th February 2022, and spend $4,000 or more on eligible purchases within 4 months (120 days) from card approval. 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. Only one cashback will be paid per customer. $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. 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.

  • Westpac approved my credit card 2 weeks ago. Still waiting for the physical card.

    • You need to go in branch to collect

      • +2

        You don't need the physical card to start using your credit card

        https://www.westpac.com.au/faq/digital-card/

      • Never heard that one before, they always mail the credit card to your mailing address

        • +1

          I needed to go in branch for ID verification before I can even use the virtual card.

          • @avoidfullprice: Oh wow, I got this card recently and I waited for the physical card before using it as virtual, didn’t take long after application approved to get the card so yeah

        • +2

          AFAIK, Westpac is the only traditional bank in Australia that allow to activate the digital card to use before you have the physical card on your hand - provided you have done ID verification with them.

          Been doing that since 2018 with them - use digital card before actually received the physical card, after ID first time at the branch.

          • @timhn: NAB also does this.

            • @ayaka: I recently got the NAN signature card and their online chat told me I can’t use the card digitally until I receive and activate the physical card.

          • @timhn: Bankwest do this to

            • @theredrabitt: I stand correct then.

              But do they allowed you to use the digital card before activation of the physical card?

              • @timhn: Yes, correct. Essentially use it for online shopping and the like, before the physical card arrives in the mail. I don't bank with them but I must say they systems & apps are were great & better than my bank 😁

    • +2

      You can activate the digitial card straight way add it to wallet and start using it.

      I had already spent over $2000 before I received my physical card 😊

      • Do you get any sms once card is approved? I got the approval but can't find the card in the app.

  • +1

    Over the process of flipping through credit cards I have been with all of the big four banks and Westpac is the only one which felt like I was actively held in contempt as a customer. Simple issues take weeks or months to resolve, they are as obtuse as possible and rely on making things so hard their customers give up as a business strategy.

  • +5

    Be warned $400 cash back is not eligible for people who have cancelled a Westpac card in the last 12 months. Stupid rule.

    • Except Citibank, AFAIK, that rule is applied for all banks.

    • +3

      That’s like with all the other credit cards, that’s why people churn, get a credit card with promo then cancel card so then by the time they apply for same credit company it would be 1 year after

    • Thanks for the heads up - where did you see this? I can’t find it in the Ts &Cs.

      • I rang them and asked them directly. They told me my card was cancelled in April this year so not eligible for the $400 cash back. Must be 12 months or longer.

    • +1

      The T&Cs states "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." - so if you have held a Westpac card that is not a Low Rate or Lite credit card (i.e. the Qantas FF card for example) you should be OK to open this card and get the cashback IMO

      • +3

        Can confirm. My $400 came through recently, and I had definitely held my Westpac Signature card within the prior 12 months.

        Westpac love me for some reason. Approval is often same day, sometimes one day, and I'm off spending on the digital card. Have never had anyone call or ask for additional verification. The easiest approval process of any big bank I've found.

        • I've found Westpac application process very easy indeed, often an instant approval..

          May I ask, how quickly you received the $400 after you met the minimum spend?

  • +2

    What’s the different with this post and this one?
    https://www.ozbargain.com.au/node/648283

    • +2

      Westpac extended the deadline to 24th Feb.

      Why the neg?

      • +2

        Not sure who neg me but if anything the other post should be made active? Anyway

  • +4

    I got this card like 3 months ago. Met the limit and had the cashback within like a week of doing so.

    Also, I just got my ANZ rewards platinum in the mail a few days ago ;P

    Some good offers out there at the moment.

  • Would anyone know if there are any credit cards out there that has a 0% cash advance offer, for x amount of months, which can be used to put the money into a mortgage to save on interest accrued?

  • +1

    Kind of weak.. considering 4k spend

  • If you applied for the $500 purchase limit and have bigger purchases, you can top up the card. I paid extra cash at Westpac branch. The cashback came in pretty quickly after the $4K spent.

    • +2

      you can just bpay to it. and it will increase the amount you can put on the card.

  • +1

    Not sure if I can be bothered……… I have just done the 2k$ for $800 worth with ANZ - hell of a deal.

    I might be able to put through 4k but it would start to be a struggle truth be told

  • I got the Altitude Platinum deal in September and process was fine. I got 130000 points on 15/11 after $3k spend and it is worth more than $400 in gift cards, etc. Offer also available still.

  • +1

    Anyone else struggling to apply online via iPhone? It doesn’t have a submit button after I enter all the details.

    • Me, i've hit submit and it does nothing (on Chrome)

      • Re-submitted, chose a different branch location and it worked fine.

  • Westpac has been by far the slowest. Even worse than ANZ’s credit card application process. Still waiting for approval after 2 weeks with 2 follow ups.

  • when do you think this expires?

  • +2

    How many cc can you apply a year before it starts to impact you on your mortgage application? I already refinanced twice this year for the cashbacks. Planning to do a couple more next year.

  • -1

    Can people get cashback on Bitcoin?

    Asking for friends.

  • Anyone know if I could purchase discounted gift cards from SB/CR and if it would count toward the minimum spend criteria? Not sure what 'cash equivalent transaction' is and if it applies to gift cards

  • Cheers getting some good deals was a bit of a dry period earlier this year but cranking through the cards now.

  • From last deal, easiest $400 I made, online application, 2 payslips uploaded, card arrived in a few days.

    Linked all utility bills to it for 2 months + household / vehicle spending. Met 4K threshold in about that time, $400 credited a few days later.

    Westpac have a decent rewards scheme too, similar in scope to Amex, and all pre-activated. Keeping the card dormant now just to utilise those deals, with a reminder to cancel it in under a year.

  • Raised a case with them, some reason this cash back has not been credited to me so I've had to escalate this with them.

    It's been well over 60 days since my last confirmed transaction.

    I've churned cc before and this is my 2nd 'different' cc with them, so unsure what is the hold up this time.

  • Just closed my altitude rewards card, will I be eligible for this?

    • Yes, I closed an altitude rewards card in Late Dec 2020, and I just got the $400 cashback on one of these cards I set up in Nov 2021.

  • Credit has already been applied to my account. Didn't take too long, about 1-month after meeting the requirements.

  • How long did it take people to get the $400? Commbank offer was within a month!

    • See my message right above.

  • How long from approval did it take to be able to activate the card?

    • You can use a digital card while the physical one is sent in the mail. Get a separate SMS stating when the digital card can be used, for me got it one hour after the approval SMS.

      • Yeah, it won't let me activate the card or use the digital version though.

        • That activate card button is just for the physical card. I had to setup the digital card in a sub menu…in I think card settings going off memory and then 'show digital card' which bought up steps to create it.

          If that does not work, live chat should be able to help.

        • For anyone else, if this happens then it's Westpac placing a block on the card.
          I don't know what the point of the stupid digital card is meant to be if you get a block put upon you when you try to use it!!!

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