Westpac Low Rate card. $400 cashback, $0 fee for first year

GSP

Established Member
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Jun 17, 2016
Posts
1,313
I've applied. Spend $4k in first 4 months for $400 cashback. I saw this marketed for existing clients only (i.e have a Westpac login, not necessarily an active account), and when logging in implied as an existing cardholder the 1st year fee would be waived, however I've seen the same on the public site, however if that was ever an issue, then sign up for a basic savings account first.

 

GSP

Established Member
Joined
Jun 17, 2016
Posts
1,313
Approved, now to spend $4k. No points however, although $400 will be handy. Will likely use on the Smart Spending app where I can still buy Woolworths gift vouchers for 4% discount and Coles for 5% and not incur a CC fee (albeit only 1% on premium cards).
 

yojohnny

Intern
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May 24, 2020
Posts
93
Can anyone suggest how long it took for the cashback to hit their accounts once they hit the spending $4k?
 

GSP

Established Member
Joined
Jun 17, 2016
Posts
1,313
Can anyone suggest how long it took for the cashback to hit their accounts once they hit the spending $4k?

I rang up enquiring when I would receive mine. I was told it is paid when statements come out, so either 17th Dec or 17th Jan I was told. I hit minimum spend at the beginning of November.

I'll let you know how I go.
 

GSP

Established Member
Joined
Jun 17, 2016
Posts
1,313
Cheers - so I've got a while to go it seems. Thanks!

Well butter me on both sides, I've had the $400 rebate come through despite the advice I was given above.

So, here's my experience:
  • I opened the account around the last few days of September.
  • Had Statement 1 on 17th October, but I had not hit the $4k target.
  • I hit the $4k target around 6th November
  • Had Statement 2 on 17th November
  • Have done little transacting since hitting the target.
  • 6th December, $400 rebate appears.
I'm thinking of adjusting my payment due in a few days time to be $400 lower so my balance goes back to zero and then can close account but have a nagging suspicion if my balance is not paid in full then their systems may get confused despite the $400 rebate paid and charge me some interest. So effectively means I need to spend around $400 on the card to bring the balance to zero and then close out.
 

yojohnny

Intern
Joined
May 24, 2020
Posts
93
Thanks for the detailed info. I will give it a few weeks post-statement and see how I go. I've had the same concern with only paying down the amount minus credit before, for other credit cards. We'll see how this turns out!
 

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