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Low Interest MasterCard® Credit Card
This Mastercard credit card has our lowest interest rate on purchases. If you’re not paying your balance off in full each month, it’s a great card to keep your interest costs down. Simple as that.
It's for you if:
- you’re buying a big-ticket item that you want to pay off over a few months
- you’re looking for a low-interest alternative to hire-purchase
- an ongoing low interest rate on your purchases is more important than earning rewards
Benefits at a glance
- a low interest rate of 12.95% p.a. – our lowest credit card interest rate on purchases
- up to 55 days interest-free credit on your purchases
Standard features
- flexibility each month to either pay off your card in full, make any payment above the minimum, or meet the minimum payment of either 2% of the balance owing each month or $5 – whichever is greater
- flexible payment options – set up an automatic payment or direct debit, pay via 24/7 internet or phone banking, transfer funds between your Westpac accounts at any Westpac ATM, make a bill payment from another bank or visit us in branch
- an embedded microchip for greater card security
- a joint or additional card for only $15 per year
- use your card at over 32 million locations worldwide
- link your other Westpac accounts to your credit card, so you can access them at the checkout and ATMs
- view your credit card balance 24/7 via ATMs or online banking
- use your credit card to withdraw cash from overseas banks and ATMs displaying the MasterCard and Cirrus acceptance marks. Higher interest rates for cash advances and ATM fees may apply
- pay no international transaction fee (usually $8) when withdrawing money overseas from an ATM within the Global Alliance Group. See the 'rates and fees' tab for more information
- 24-hour emergency credit card assistance
An outstanding rating
Independent financial analysts at CANSTAR CANNEX awarded this card 5 stars for Outstanding Value in the ‘Habitual Spenders Category’ – so if you’re one of those that doesn’t pay off your balance in full each month, this could be the card for you. Learn more at www.canstar.co.nz/credit-cards
Rates for your Low Interest MasterCard
| Low Interest MasterCard® - Interest rates | |
| Card | Interest rates |
|---|---|
| Purchases (and other fees & charges) | 12.95% p.a. |
| Balance transfer rate Transfer balances from another bank’s credit card, overdraft, personal loan, or hire purchase agreement to a Westpac credit card. > More on balance transfers |
5.95% p.a. Effective until the transferred balance is paid off |
| Cash advance rate Cash advances on all Westpac credit cards, excluding those on Portfolio pricing |
22.45% p.a. |
Fees for your Low Interest MasterCard
| Low Interest MasterCard - Fees | ||
| Fees on this page are current as at 22 May 2013 and are subject to change. Some overseas banks may charge an extra fee for a cash advance. |
||
| Fee type | Fee amount | |
|---|---|---|
| Annual account fee | $65 per year Paid in two 6-monthly instalments of $32.50. |
|
| Cash advance in NZ |
using a Westpac ATM | $2 per transaction |
| at other bank ATMs | $2 per transaction | |
| Westpac branch teller | $2 per transaction | |
| Cash advance overseas |
using Global Alliance ATMs Transaction fees do not apply when using ATMs within the Global Alliance Group in the respective country shown. Institutions participating in the global ATM alliance include Deutsche Bank 24 (Germany), Bank of America (United States), Scotiabank (Canada), Barclays Bank (United Kingdom), BNP Paribas (France), Westpac (Australia) and Westpac (New Zealand). | no international transaction fee |
| using other ATMs or at bank branches Note: An ATM service fee may be charged by the ATM provider. | NZ$8 per transaction | |
| Joint/additional card |
$15 per year | |
| Late payment fee | $15 per late payment | |
| Card over limit Applies where you exceed your account credit limit during any statement period. |
$15 | |
| Replacement card Lost, damaged or stolen |
$15 per card | |
| Courier delivery in NZ/Overseas | Courier costs where applicable | |
| Foreign currency fee When you use your Westpac credit card to make an overseas transaction, you'll pay a foreign currency fee. This is currently 2.5% of the New Zealand dollar converted value of the foreign currency transaction amount. A foreign currency conversion fee is applied to purchases, cash withdrawals and any fees and charges in a foreign currency incurred by you from the overseas merchant or merchant bank for that transaction. | 2.50% of NZD converted value of foreign currency transaction amount | |
Special deals
Get great ticket offers for shows, sporting events and more through MasterCard applause™
Simply visit www.mastercardapplause.co.nz and you’ll get hold of:
- last minute ticket offers – sometimes up to 50% off the ticket price
- great seats to some of the most sought after shows
- easy booking – tickets can be mailed to you
- advance access –you can get many tickets before they go public
- inside information – learn about events and register before anyone else
Check it out now.
- last minute ticket offers – sometimes up to 50% off the ticket price
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Westpac accepts no responsibility for the availability or content of third party websites. Westpac’s current credit card lending criteria apply to all applications and transfers. Credit Card Conditions of Use will apply. Fees and rates shown are current as at 22 May 2013 but are subject to change. Other charges may apply to some of the transactions and services mentioned – Find out more on our Credit Card fees pages. hotpoints® is a registered trademark of Westpac Banking Corporation. Hotpoints terms and conditions apply. Overseas cash advances and foreign currency fees may apply. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. American Express is a trademark of American Express. This card is issued by Westpac New Zealand Limited pursuant to a license from American Express. Westpac accepts no responsibility for the availability or content of third party websites.