Westpac Low Rate Credit Card: No Fee and No Interest on Balance Transfers for 18 Months, $59 Annual Fee

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fantacular on 16/05/2019 - 17:29 westpac.com.au (354 clicks)
Last edited 16/05/2019 - 19:50 by 1 other user

0% interest for 18mo on Balance Transfers of up to 80% of approved limit
0% BT fee
$59 Annual Fee
Quick assessment process and reasonable chances of approval…… probably better than Citibank!
I use Balance Transfers like these to keep money in my offset account and get ahead with my home loan. You could also use it instead of a personal loan or car loan.

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Westpac

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  jrt2020 on 16/05/2019 - 17:56

  18 months balance transfer but annual fee charged on card approval and again at 12th month which gets charged at cash advance interest rate

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    dbui8743 on 16/05/2019 - 18:14

    +1

    You can pay off annual fees at no interest.

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      jrt2020 on 16/05/2019 - 21:54

      Check ur statement they do calculate the fee on annual fee at cash advance ( it was in statement itself)

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        dbui8743 on 17/05/2019 - 08:02

        I know, you can time your payment to pay that off and incur no charge.

        U still pay annual fee though.

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  ablqadir on 16/05/2019 - 18:25

  +1

  I also use similar method, but annual fee is not justifiable there are many which offer 0% interest for at least 12 months, 0% BT Fee and No annual fee for at least first year, check finder.com.au and you are sure to find something, or just go straight to
  This from citibank, no annual fee for the first year, 0% interest for 14 months on BT.

  Edit: you have either payoff in 12 months or move to another before 12 months.

  https://www.citibank.com.au/CardsOnline/clearplatinum.htm?ef…

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    fantacular on 17/05/2019 - 15:17

    that's a good offer! just the pain of dealing with citibank. rather pay the $59….!

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  Leviathan13 on 16/05/2019 - 20:03

  Is it harder to gain approval for such things after the banking royal commission?

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  bazinga8888 on 16/05/2019 - 20:52

  There’s another shittybank offer but with 1.5% BT fees, 26 months and first year free.
  https://www1.citibank.com.au/credit-cards/citi-platinum-bala…

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  coolsteps on 16/05/2019 - 21:51

  i found wbc easier then cb to deal with. does anyone know of any BT promo codes for existing customers?

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  tinkko on 17/05/2019 - 14:12

  I got one question, I have used for BT and I paid back all and can I do BT again ? thanks.

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  gidxg03 on 18/05/2019 - 14:27

  +4

  For those looking for no annual fee, no balance transfer cost I did this analysis before. The months is the interest free period:

  HSBC Platinum Qantas Credit Card - 12 months
  Citi Clear Platinum Credit Card - 14 months
  CUA Low Rate Mastercard - 13 months
  CUA Platinum Credit Card - 13 months
  BOQ Platinum Visa Credit Card - 12 months

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  KoopaKill on 19/05/2019 - 08:39

  How much do you end up ahead through placing it in the home loan?

  Is it as effective as churning for FF points?

  Thanks

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    endolphin on 21/05/2019 - 20:51

    No, not usually. If you had a balance of $10k, you would save less than $400 in interest. Which is quite a low return for the sake of "using up" at least $12-15k of credit limit (which will impact other churn opportunities).

    There are a number of other cards which will return $600+ in a quarter of the time.