Low Rate Mastercard®

Keep it simple with a low interest rate credit card. If you're not paying your balance off in full each month, it’s a great card to keep your interest costs down.

Special offer:
$0 Annual Fee for 2 years on a new Low Rate Mastercard®*.

✓ low 13.45% p.a. interest rate on purchases
✓ low half-yearly fee of $12.50
✓ up to 55 days interest-free on purchases. Conditions apply^
✓ accepted at over 35 million locations worldwide

Highlights

	Monitor your card spend in real time with CashNav - our money management app. Find out more.

	Contactless technology for fast and convenient payments (of under $80) on the go with Mastercard Tap & Go™.
	Pay no international transaction fee (usually $2) when withdrawing money from a Global ATM Alliance ATM¹. See 'Rates and Fees' for more details.
	Westpac CardGuard® protects you 24/7 from fraudulent activity². Misplaced your card? Temporarily block or unblock your card with Card Blocker.
	Link your other Westpac accounts to your credit card, so you can access them at the checkout and ATMs.
	24-hour emergency credit card assistance.
	Head to Mastercard Priceless Cities for special offers on a broad range of local and global experiences.

Rates, fees & more

Minimum credit limit

Low Rate Mastercard has a minimum credit limit of $500

Repayment options

Pay your card off in full or make any payment above the monthly minimum (either 2% or $5 of the balance owing - whichever is greater)³. View payment options here.

Rates

Card	Interest rates
Low Rate Mastercard® - Interest rates
Purchases (and other fees & charges)	13.45% 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. on the balance transferred for the life of the balance.
Cash advance rate	22.95% p.a.

Fees

Fee type		Fee amount
Low Rate Mastercard - Fees
Fees on this page are current as at 7 April 2020 and are subject to change. Some overseas banks may charge an extra fee for a cash advance.
Annual account fee		$25 per year Paid in two 6-monthly instalments of $12.50.
Cash advance in NZ	using an ATM	Free per transaction
	at other bank ATMs	Free per transaction
	Westpac branch teller	$3 per transaction
Cash advance overseas	using Global ATM Alliance ATMs	Free Transaction fees do not apply when using ATMs within the Global ATM Alliance in the respective country shown. Institutions participating in the Global ATM Alliance are subject to change but currently include Deutsche Bank (Germany), Bank of America (United States), Scotiabank (Canada), Barclays Bank (United Kingdom), BNP Paribas (France), Westpac (Australia) and Westpac (New Zealand).The NZ$2 for credit card and NZ$3 for debit card international transaction fee saving applies to Westpac customers only, and is subject to change. All other international and standard fees apply including foreign currency conversion fees apply – see the <a href="https://www.westpac.co.nz/assets/Personal/Your-Money-and-Tailored-Packs/Brochures/transaction_service_fees.pdf" target="_blank">Transaction and Service Fees brochure</a> or <a href="https://www.westpac.co.nz/assets/Personal/Your-Money-and-Tailored-Packs/Brochures/business_transaction_and_service_fees.pdf" target="_blank">Business Transaction and Service Fees brochure</a> for details.
Cash advance overseas	using other ATMs or at bank branches	NZ$2 per transaction Note: An ATM service fee may be charged by the ATM provider.
Joint/additional card		$5 per year
Late payment fee		$8 per late payment
Card over limit Applies where you exceed your account credit limit during any statement period.		$1
Replacement card where original card is lost, damaged or stolen		$10 per card
Courier delivery in NZ/overseas		Courier costs where applicable
Foreign currency fee		1.4% of transaction amount A foreign currency fee is charged when you make a purchase or cash withdrawal in a foreign currency, and also applies to any fees and charges charged by the overseas bank or vendor in relation to the transaction. This fee is also charged when you make online purchases in a foreign currency.

View Terms and Conditions

*$0 Annual Fee for 2 years offer: Lending criteria, eligibility criteria, terms, conditions and other fees and charges apply. Applies to new personal Westpac credit cards applied for between 20 February and 20 May 2020 and subsequently approved. Excludes Airpoints World Mastercard, hotpoints World Mastercard, Airpoints Business Mastercard and hotpoints BusinessPLUS Mastercard. You will not be eligible for this offer if you have held the same card type in the past 18 months or if you have transferred from an existing Westpac credit card to a qualifying credit card. After 2 years, the Annual Fee for the applicable card at that time (which may be higher than the current fee) will apply. This offer may be extended or withdrawn at Westpac’s discretion without further notice.

Payments will be applied to charges and accrued interest, then to cash advances and purchases, followed by balance transfers. If you have multiple balance transfer rates, payments will first be applied to the balances transferred at the highest interest rate.

^If you have paid your last statement period closing balance in full, you will start your current statement period with a $0 balance owing. When you start your current statement period with a $0 balance owing, do not have a transferred balance on your credit card and pay your statement closing balance in full by its due date, you will get up to 55 days interest-free on your purchases. Cash advances are not purchases and have no interest free days. See credit card interest-free period page for how it works.

^#Rate will apply to balance(s) transferred until that balance(s) is paid off. Balance Transfer Terms and Conditions and lending criteria apply.All applications are subject to Westpac approval. You cannot transfer a balance from a Westpac card or loan. Payments made to your Westpac credit card will first be applied to charges and interest accrued, then to cash advances and purchases, followed by balance transfers. Interest rates and fees are current as at 7 April 2020 and are subject to change without notice. All new purchases, cash advances and any unpaid interest or fees will incur interest at the standard interest rate in accordance with the card's Conditions of Use. You can transfer up to 95% of your available credit card limit. Your card must remain within its credit limit after the balance has been transferred. Balances cannot be transferred to a Mastercard® BusinessCard/Purchasing Card. Balance transfers do not earn Airpoints Dollars™ or hotpoints®. You must close any facilities indicated in this application as being repaid by the Balance Transfer.

Westpac’s credit card lending criteria applies to all applications and transfers. Westpac’s Credit Card Conditions of Use will apply.

^Interest free days do not apply when you have taken up one of our balance transfer offers and have not paid off the balance transferred in full during the statement period.

¹The NZ$2 for credit card and NZ$3 for debit card international transaction fee saving applies to Westpac customers only, and is subject to change. All other international and standard fees apply including foreign currency conversion fees – refer to the Transaction and Service fees brochure details. Global ATM Alliance banks and their details are subject to change.

²Provided you notify us as soon as possible, have not acted fraudulently or negligently and have complied with the card’s Conditions of Use.

³If you only make the minimum payment each month, you will pay more interest and it will take you longer to pay off the unpaid balance.

Mastercard is a registered trade mark and the circles design is a trade mark of Mastercard International Incorporated.