Westpac Credit Cards

Westpac is an Australian bank active in New Zealand that provides credit cards, accounts, loans, insurance, investments and financial planning. 

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If you’re considering taking out a credit card with Westpac, check out what products the company has to offer with Canstar’s Star Ratings.

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Types of Westpac credit cards

Westpac offers a wide range of options, with seven different credit cards available for you to choose from: 

  1. Low Rate Mastercard 
  2. Hotpoints Mastercard 
  3. Hotpoints Platinum Mastercard 
  4. Hotpoints World Mastercard 
  5. Airpoints Mastercard 
  6. Airpoints Platinum Mastercard 
  7. Airpoints World Mastercard 

Westpac’s hotpoints cards are simply rewards credit cards that provide you with hotpoints when you purchase, while the Airpoints cards let you earn Airpoints Dollars – each are redeemable for different rewards and discounts.  

All Westpac cards come with useful features such as CardGuard, Westpac’s 24/7 fraud protection service; Westpac PayTag, a wireless tag that you can stick onto your mobile phone to make contactless payments under $80; and a low 1.99% balance transfer rate for the first 12 months. You can also monitor your card spend in real time using Westpac’s CashNav money management app. 

Westpac Low Rate Mastercard

The Low Rate Mastercard is Westpac’s most affordable card, with a low annual interest rate making it great for everyday use and keeping costs down.  

Features

  • Interest rate on purchases: 13.45% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Interest-free days: Up to 55 days interest-free 
  • Annual fee: $65 
  • Minimum credit limit: $500  
  • Online: 24/7 online banking 
  • Contactless: Payments with Visa payWave and Westpac PayTag 

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Westpac hotpoints Mastercard

Westpac’s hotpoints Mastercard gives you hotpoints rewards points when you purchase, which are redeemable for all sorts of gifts at Westpac’s hotpoints online store, including vouchers, gifts, merchandise, travel packages and more. 

Features

  • Interest rate on purchases: 20.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Interest-free days: Up to 55 days interest-free 
  • Annual fee: $44 
  • Minimum credit limit: $500  
  • Rewards: 1 hotpoint for every $1 spent 
  • Online: 24/7 online banking  
  • Contactless: Contactless payments with Visa payWave and Westpac PayTag 

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Westpac hotpoints Platinum Mastercard 

The hotpoints Platinum Mastercard is an upgraded version of the hotpoints Mastercard, with improved features such as a higher rewards earning rate and purchase protection insurance. 

  • Interest rate on purchases: 20.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Annual fee: $125 
  • Minimum credit limit: $10,000  
  • Rewards: 2 hotpoints for every $1 spent, plus: 
  • Overseas travel insurance: Up to 35 days per round trip, unlimited trips per year; minimum spend applies to different travel regions 
  • Purchase protection insurance: An extended warranty insurance for purchases 
  • Home assistant: A complimentary home assistant service for booking tradespeople and more, available to call 24/7 
  • Contactless: Full contactless payments support with Visa payWave and Westpac Virtual  

Westpac hotpoints World Mastercard 

The World Mastercard is the most luxurious credit card Westpac offers, with the highest possible hotpoints earning rate, lower interest and a host of exclusive features. 

  • Interest rate on purchases: 16.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Annual fee: $390 (spend $50,000 or more in a 6 month period and they’ll waive your next 6 monthly annual fee instalment) 
  • Minimum credit limit: $18,000  
  • Rewards: 3 hotpoints for every $1 spent, plus: 
  • Airport lounge access to over 1,000 airport lounges around the world 
  • Overseas travel insurance extended up to 120 days 
  • Purchase protection insurance 
  • On Call Concierge: Available 24/7, the World Mastercard Concierge service can arrange all kinds of bookings for you, such as restaurants and hotels 
  • Car rental upgrades with Hertz Gold Plus, for one car within the same class 
  • World Mastercard Privileged Access Program: Exclusive access to curated travel, shopping and dining experiences around the world 

Westpac Airpoints Mastercard

Westpac’s Airpoints Mastercard gives you Airpoints Dollars when you purchase, which are equivalent in value to $1 NZD and are redeemable for flights, upgrades, rewards and more. 

Features

  • Interest rate on purchases: 20.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Interest-free days: Up to 55 days interest-free 
  • Annual fee: $55 
  • Minimum credit limit: $500  
  • Rewards: 1 Airpoints Dollar for every NZD$120 spent, or for every NZD$100 equivalent in other currencies 
  • Online: 24/7 online banking  
  • Contactless: Contactless payments with Visa payWave and Westpac PayTag 

Westpac Airpoints Platinum Mastercard

The Airpoints Platinum is an upgrade version of the previous card, with a better Airpoints Dollar earning rate and discounted Koru membership. Status points allow you to upgrade your Airpoints membership status to Silver, Gold or Elite, each of which provides more exclusive Air New Zealand benefits. 

  • Interest rate on purchases: 20.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Interest-free days: Up to 44 days interest-free 
  • Annual fee: $145 
  • Minimum credit limit: $10,000  
  • Rewards:  
  • 1 Airpoints Dollar for every NZD$75 spent, or for every NZD$70 equivalent in other currencies;  
  • Earn 1 Status Point for every $225 spent 
  • No joining fee for the Air New Zealand Koru programme, $145 discount off standard 12-month Individual Membership 
  • Airpoints Dollars never expire 
  • Online: 24/7 online banking  
  • Contactless: Contactless payments with Visa payWave and Westpac PayTag 

Westpac Airpoints World Mastercard

Just like the hotpoints World card, the Airpoints World Mastercard is the ultimate rewards card offered by Westpac, offering the best Airpoints earning rate and a swag of other benefits. 

  • Interest rate on purchases: 16.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Annual fee: $390 (spend $50,000 or more in a 6 month period and they’ll waive your next 6 monthly annual fee instalment) 
  • Minimum credit limit: $18,000  
  • Interest-free days: Up to 44 days interest-free 
  • Rewards:  
  • Airpoints: 1 Airpoints Dollar for every NZD$65 spent, or for every NZD$50 equivalent in other currencies. 
  • Status points: 1 Status Point for every $225 spent 
  • Priority Pass airport lounge access to over 900 airport lounges around the world 
  • Overseas travel insurance extended up to 120 days 
  • Purchase protection insurance of up to 12 months 
  • Koru: No joining fee for the Air New Zealand Koru programme, $145 discount off standard 12-month Individual Membership; two complimentary Koru Valet parking passes each year 
  • On Call Concierge: Available 24/7, the World Mastercard Concierge service can arrange all kinds of bookings for you, such as restaurants and hotels 
  • Car rental upgrades with Hertz Gold Plus, for one car within the same class 
  • World Mastercard Privileged Access Program: Exclusive access to curated travel, shopping and dining experiences around the world 

Eligibility to apply for Westpac credit cards

To apply for any of Westpac’s credit cards, you must be able to satisfy the following criteria: 

  • You must be a New Zealand resident  
  • You must be over 18 years of age 
  • You need an income of $15,000 or more per year  

How to apply for a Westpac credit card

If you satisfy all of the above criteria, you can apply online for a credit card through Westpac One online banking – if you’re an existing customer – or by using the Westpac website. You can also visit a Westpac branch to apply in person. The application takes less than 50 minutes, and if approved, your new card should arrive within five to seven work days. 

You will need the usual documentation to apply for a credit card, including: 

  1. Your employment details 
  2. Your annual income 
  3. Your usual living expenses 
  4. Details about assets you own such as a home, car, other belongings or savings 
  5. Any debts you currently owe on other credit cards, loans or overdrafts 

If you don’t currently have a Westpac bank account, you’ll also need to provide a valid photo ID. Read our checklist on applying for a credit card for a more detailed explanation of how the process works. 

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Westpac FAQs

After receiving your card, you can activate it online by logging in to either online banking or the Westpac mobile app, and following the prompts.  

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You can manage your Westpac credit card through the company’s FastNet Classic online banking. By using Westpac’s online banking service, you can make and receive payments, pay your bill, access statements and transaction details, and view all of your accounts to see how much you owe. 

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When interest is charged 

Interest is charged on purchases when you carry a balance on your Westpac credit card, and is charged on cash advances from the date of withdrawal. Interest is calculated daily on your outstanding balance, and charged to you monthly on your regular statement. 

When interest is not charged 

Depending on which card you go for, up to either 44 or 55 interest-free days apply to Westpac credit card purchases, as long as you have paid the balance in full for the previous month’s statement and for the current month’s statement. 

For more information about interest-free days, check out our article on how they work. 

Your credit limit for your Westpac Visa credit card will be determined based on the information you provide in your application, keeping in mind the minimum credit limits available for each card, which are detailed above. If your credit history is good, you’ll likely be approved for a higher credit limit, and vice versa. Find out more about how credit limits are determined here. 

If you wish to change the credit limit on your card, you call the Westpac cards team on 0800 888 111 or visit a branch with a valid form of photo ID. 

You can close your Westpac credit card account at any time by sending a written request to your Westpac branch. Your card balance will need to be repaid in full even after the card is closed, and you will continue to receive monthly statements until your card balance is fully repaid. 

If you’re cancelling your credit card with Westpac because you’re struggling financially, contact its financial hardship team to find a potential solution. 

If you’re cancelling your credit card because you aren’t happy with it, then consider checking out what else is on the market by clicking the button below to compare credit cards using the Canstar website: 

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Westpac’s origins in New Zealand date back to 1861, when the Bank of New South Wales opened seven branches in New Zealand on the back of the Otago gold rush. The company was the first to introduce mainstream credit cards to NZ customers in 1979, before changing its name to Westpac in 1982. The company employs more than 5,000 employees in New Zealand, collectively serving around 1.34 million customers. 

Westpac was named the world’s most sustainable bank in 2016 by the Dow Jones Sustainability Index, demonstrating in the bank’s commitment to sustainability and community. In 2015, Westpac invested more than $5.6 million into local community initiatives such as Westpac Rescue Helicopters, NZ Arts, SeniorNet and Dementia Friendly Banking, to name a few. The bank has a key strategic focus to increase lending to the CleanTech sector, including renewable energy, green buildings and forestry. 

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Written by: Sam Bloom | Last updated: April 18, 2018

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