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Westpac Fee Free MasterCard Credit Card

The Westpac Fee Free MasterCard Credit Card
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Platinum Award

The Westpac Fee Free MasterCard Credit Card is a no-annual fee credit card with a low purchase rate of 12.90% p.a. and a balance transfer offer of 5.95% p.a. for the life of the balance transferred. The Westpac Fee Free MasterCard charges no annual fee, no cash advance fee and no foreign transaction fees. This credit card might be suitable for you if you have an existing credit card debt and are struggling to pay it off or if you expect to carry a balance on your credit card.

Overall, we think the Westpac Fee Free MasterCard is a good credit card because of its low interest rate and no annual fee. If you do not expect to carry a balance on your credit card and have no existing credit card debt then you could consider other no annual fee credit cards that offer rewards for using your credit card such as the Amex Airpoints credit card which also allows you to earn Airpoints and charges no interest on purchases for the first 6 months.

The American Express Airpoints Platinum Card
The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints DollarTM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Get rewarded with 300 bonus Airpoints Dollars™ when you apply, are approved and spend $1,500 on your new Amex Airpoints Platinum Card within the first 3 months. New Amex Card Members only. T&Cs apply.
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*Terms and conditions apply

Key Features

  • Purchase Rate: 12.90% p.a.
  • Cash Advance Rate: 19.95% p.a.
  • Balance Transfer: 5.95% for life of balance transferred
  • Annual Fee: No annual fee
  • Interest Free Days: 55 days
  • Minimum Repayment:
  • Card Reward Details: No Rewards
  • Credit Limit:
  • Other Fees:

IMPORTANT NOTE: please review the credit card details on the provider's website again before applying.

Westpac Fee Free MasterCard Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the Westpac Fee Free MasterCard Credit Card to help you decide.

Pros

  • Low Interest rate of 12.90%
  • No-annual fee charged
  • Balance transfer that does not revert to a higher rate after a fixed period
  • No foreign currency fee

Cons

  • No rewards. The Amex Airpoints Credit Card also charges no annual fee but allows you to earn Airpoints and 0% interest for the first 6 months on purchases.

What we like about the Westpac Fee Free MasterCard Credit Card

No Annual Fees

One of the most great features of the Westpac Fee Free MasterCard Credit Card is that it does not charge any annual fees. This makes it an excellent choice for those who want to avoid the extra cost that comes with many other credit cards. You can enjoy the benefits of having a credit card without worrying paying an annual fee.

0% Foreign Currency Fees

This means when you travel overseas or make purchases in foreign currencies online, you won't have to pay any foreign transaction fees with this card. Most credit cards charge between 2-3% for foreign transactions, but the Fee Free MasterCard eliminates this cost entirely. This feature is particularly valuable for frequent travellers and online shoppers who make international purchases.

Low Interest Rates

The Fee Free MasterCard Credit Card offers a competitive low interest rate, making it a cost-effective option for those who may carry a balance from month to month. With a low purchase rate and an even lower rate for balance transfers, this card helps you save on interest charges compared to other credit cards. This can be especially helpful if you end up carrying a dept on your card.

What is not so great about the Westpac Fee Free Credit Card

Limited Rewards Programme

While the Fee Free MasterCard Credit Card offers several cost-saving benefits, it falls short in the rewards department. Unlike other credit cards that provide points for every dollar spent, this card has a limited rewards programme. This means you might miss out on earning points for flights, hotel stays, or other perks that frequent travellers often enjoy.

No Travel Insurance

Another downside is the lack of travel insurance. Many premium credit cards offer complimentary travel insurance, which can be a significant benefit for those who travel frequently. Unfortunately, the Fee Free MasterCard does not include this feature, so you would need to purchase travel insurance separately, adding to your overall travel costs.

Is the Westpac Fee Free MasterCard Credit Card Right for You?

Good for Foreign Transactions

If you often find yourself often making foreign transaction online or while travelling, the Westpac Fee Free MasterCard Credit Card could be a great fit. With no foreign currency fees, you can make purchases abroad without worrying about foreign transaction fees which often costs 1.95% to 3%.

Considerations for Budget-Conscious Users

If you are mindful of your spending, this card can help you stay within your budget. With no annual fees and low interest rates, it is a cost-effective option. However, it's important to remember that while the interest rates are low, they can still add up if you carry a balance. Always try to pay off your balance in full each month to avoid high-interest charges.

Frequently Asked Questions

Who can apply for the Fee Free MasterCard Credit Card in New Zealand?

To apply, you need to be at least 18 years old, a New Zealand resident, and have a good credit score. You also need to show proof of income.

Are there really no annual fees with the Fee Free MasterCard?

Yes, there are no annual fees with this card, making it a cost-effective option for those who want to save on fees.

Does the Fee Free MasterCard charge for foreign currency transactions?

No, the Fee Free MasterCard does not charge any fees for transactions made in foreign currencies, making it great for travellers.

What are the interest rates like on the Fee Free MasterCard?

The Fee Free MasterCard offers low interest rates compared to many other credit cards, but it's still best to pay off your balance each month to avoid charges.

Is there a rewards program with the Fee Free MasterCard?

No, there isn't. The rewards program is limited compared to other cards. If earning points is important to you, you might want to consider other options.

Does the Fee Free MasterCard offer travel insurance?

No, this card does not come with travel insurance. You might need to compare travel insurance credit cards on our website.

Eligibility Criteria

Your eligibility for this card would depend on a few criteria listed below. When you apply for Westpac credit card, Westpac would ask you a few questions about these criteria to determine your eligibility.

  • Income
  • Expenses
  • Debts
  • Assets
  • Savings
  • Investments

**You have to be a New Zealand permanent resident, and have a good credit history to apply for a Westpac Credit Card.

Documents:

In general the following documents are usually required for credit card applications.

Proof of Income

One of the following:
  • your most recent payslip or salary notice
  • copies of bank statements that show your pay or salary deposits
  • a letter from your employer confirming your income
  • an Inland Revenue Department (IRD) “summary of earnings” notice.

If you’re self-employed, you must supply:

  • signed financial statements for the past two years
  • a signed personal Statement of Financial Position
  • your personal tax return.

Proof of Identity:

A copy of one or two items from List 1. If you provide only one item from List 1, you must also provide one item from List 2.

List 1:
  • Current passport
  • New Zealand drivers licence
  • 18+ card
  • Photo Credit Card
List 2:
  • Most recent bank statement
  • Debit card
  • Credit card
  • Community services card
  • Club or society card.

Are you interested in a low rate credit card? Compare ALL low interest credit cards on our low interest credit cards page.

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The American Express Airpoints Credit Card
Get 0% p.a. on purchases for the first 6 months with the Amex Airpoints Credit Card, plus NO ANNUAL FEE and you earn 1 Air NZ Airpoints DollarTM for every $100 you spend with the Card. CURRENT OFFER: 50 bonus Airpoints Dollars™ when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only.
More Info »
*Terms and conditions apply

What is the best credit card in New Zealand?

We've been asked this question a lot so we have compiled our pick of the best credit card in NZ but keep in mind that the best credit card for you depends on your personal circumstance and needs. To find the best credit card for you, we recommend that you compare all credit cards in NZ on our website or narrow down your search by popular credit card types as shown below. Use the top menu of the page to select more credit card types.

  • Airpoints credit card
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The American Express Airpoints Credit Card
Get 0% p.a. on purchases for the first 6 months with the Amex Airpoints Credit Card, plus NO ANNUAL FEE and you earn 1 Air NZ Airpoints DollarTM for every $100 you spend with the Card. CURRENT OFFER: 50 bonus Airpoints Dollars™ when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only.
More Info »
*Terms and conditions apply

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The American Express Airpoints Platinum Card
The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints DollarTM earning Platinum credit card. Every $70 you spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Be rewarded with 400 bonus Airpoints Dollars™ when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only. Offer ends 26th May 2025.
More Info »
*Terms and conditions apply

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Kia Ora! Credit cards compare NZ (also referred to as Credit cards comparison NZ or Credit cards NZ) is an absolutely free credit card comparison website. Each year we help tens of thousands of Kiwis save by finding the best credit card to suit their needs.

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CreditCardsCompare.co.nz (Credit Cards Compare NZ) is not a credit card provider and does not provide financial advice, we only provide factual and general information on our website to help you find the best credit card to suit your needs. Any financial advice that may be provided on this website is merely passed on from the credit card provider and does not take into account your personal circumstance. If you are unsure, seek independent professional advice before taking out a credit card.Credit Cards Compare NZ includes many but not all credit cards in NZ on our website. We may receive a commission for advertising/promoting certain credit cards and products on our website.
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