As a member of the Big Four banks Westpac seems to be lagging behind in terms of low interest credit cards. Both NAB and ANZ offer similar cards to the Westpac Low Rate credit card, but with better features.

While it is affordable, it’s also pretty stock standard, so is a lot like the rest of the cards in the low interest rate category. Its purchase rate p.a. and the cash advance rate p.a.

Balance transfers are for the first 6 months, after which it reverts to the cash advance rate p.a. With up to 55 days interest free there’s plenty of opportunity to take advantage of purchases without extra charges, and this is all available with an annual fee.

One thing that we can say about this card though, is that while it doesn’t quite make it into the low annual fee category, it’s still pretty low in terms of the savings you’ll get with the low interest rates.

Not to mention that it is one of the cheapest of the Big Four banks credit cards that made into the low interest rate category.

With no rewards program on this low interest credit card, there is no doubt that this card was created for those in need of a cheap credit card that doesn’t bother with extras at the expense of long term affordability. It’s available as a Visa or a MasterCard so if you have a preference for one of the two companies or maybe for their benefits, then you have freedom of choice.

See our top credit card picks in the Editor’s Choice category