FEATURES SUMMARY

• Annual fee: $30 (waived in first year)
• Purchase rate: 19.45% p.a.
• Cash Advance rate: 19.45% p.a.
• Balance Transfer rate: N/A
• Interest-free days: Up to 55

• Extras:
  • Apply online
  • 24hr phone assistance
  • Emergency card replacement
  • Visa Entertainment
  • Phone/Internet banking
  • Enhanced security chip protection

Westpac’s Student Credit Card is a good card for those who need a credit card with a low limit. With this credit card you can choose your limit –$300, $400 or $500.

That way you can’t max it out to an unaffordable amount, so it really will just be there in your wallet for cash emergencies.

As it is a credit card you will be subject to credit history checks and other credit approval criteria. However Westpac will take into account the fact that you will most likely not be working full time and could be moving around quite a bit so your address will change quite often.

Your approval will be based on whatever income it is that you receive, whether it be from Austudy or from a part/time/casual job. While this helps with approval, when you have the card, it doesn’t quite measure up to the Commonwealth student credit card (the only other student-specific credit card on the market).

Westpac’s student card has a $30 annual fee which is wiped in the first year (as opposed to Commonwealth’s $0 throughout your years of study) and an interest rate of 19.45% p.a.* for both purchases and cash advances. Yet there are no balance transfers available, which is another major downfall when comparing the two student credit cards.

Despite having a lower cash advance rate, the Westpac student credit card comes off second best to our first place getter (the Commonwealth student credit card) thanks to its annual fee and the omission of balance transfers.

If you think you may have trouble getting a credit card due to a lack of credit history then this card is definitely a good option. But if you’re looking to save money with a cheap credit card then the Bankwest Zero MasterCard is much more affordable option.

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