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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)

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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)
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Ltsta2028 on 07/09/2020 - 21:14 westpac.com.au (560 clicks)
Last edited 04/12/2020 - 11:09 by 2 other users

$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.

Financial Credit Card

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Westpac
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closed Comments

    • El-Rhi on 19/09/2020 - 17:21

      Why?

      • Braggs on 19/09/2020 - 17:41
        -2

        debt traps ….of course i get 12 negs for being financially responsible though thats the ozbargain way …
        a Deal outways longterm hardship from debt …credit cards lead to heavy debt

        • El-Rhi on 20/09/2020 - 13:15

          Credit cards are great if you can manage them.

          Taking advantage of sign up points bonuses can net you around $1000 a year in value, and 55 days interest free is great as it allows you to keep more of your own funds in a mortgage offset account for longer.

          All depends how you plan to use it I guess.

  • timhn on 07/09/2020 - 21:38
    +2

    $59 annual fee.

    • LolwutMikka on 07/09/2020 - 22:36

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

      • UrMumsOnlyFan on 08/09/2020 - 01:09

        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.

        • timhn on 09/09/2020 - 09:57

          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.

          • UrMumsOnlyFan on 09/09/2020 - 23:50

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

            • skido on 04/10/2020 - 20:46

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

              • UrMumsOnlyFan on 05/10/2020 - 13:04

                @skido: Hasn't been charged yet.

                • skido on 05/10/2020 - 13:05

                  @UrMumsOnlyFan: have you received Cashback and cancelled?

                  • UrMumsOnlyFan on 24/10/2020 - 14:03

                    @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.

                    • skido on 24/10/2020 - 14:08

                      @UrMumsOnlyFan: thanks for the update!

                    • VeeKTOR on 03/11/2020 - 19:28

                      @UrMumsOnlyFan: 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?

                      Ta

                      • UrMumsOnlyFan on 04/11/2020 - 00:19

                        @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.

                        • CyberMurning on 06/11/2020 - 00:02

                          @UrMumsOnlyFan: 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?

  • virtualds on 07/09/2020 - 21:44
    +2

    $141

    • UrMumsOnlyFan on 08/09/2020 - 01:11

      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.

    • UrMumsOnlyFan on 24/10/2020 - 14:05

      $200 :)

  • hurr1cane on 07/09/2020 - 22:50

    How about existing once?

    • tsta2028 on 01/10/2020 - 21:05

      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).

  • Tiggrrrrr on 07/09/2020 - 23:44
    -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.

    • brongz on 08/09/2020 - 07:38

      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.

    • Easton on 20/09/2020 - 18:48

      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.

      • Tiggrrrrr on 25/09/2020 - 13:57

        Thanks. I'll look into it

  • ariann on 08/09/2020 - 01:06
    +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.

  • demiurge on 25/09/2020 - 23:03

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

    • tsta2028 on 01/10/2020 - 21:01

      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.

      • CyberMurning on 06/11/2020 - 17:44

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

    • UrMumsOnlyFan on 24/10/2020 - 14:07

      Yep.

  • timhn on 28/09/2020 - 17:13

    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.

  • CyberMurning on 05/11/2020 - 23:58

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

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