Westpac Business Mastercard Credit Card

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The Westpac Business Mastercard Card is a basic business credit card with no rewards or special benefits. It charges an annual fee of $50 and full payment of all outstanding monthly balance is required to be paid by direct debit by the due date.

Key Features

Purchase Rate: N/A
Cash Advance Rate: 22.95%
Balance Transfer: N/A
Annual Fee: $50.00
Interest Free Days:
Minimum Repayment:
Card Reward Details: N/A
Credit Limit: N/A
Other Fees: $50 for each extra card

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

Westpac Business Mastercard Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the Westpac Business Mastercard Credit Card to help you decide.

Pros

Free cash advance from New Zealand ATMs

Cons

No rewards.
No special benefits like travel insurance.
Charges an Annual Fee of $50.

What we like about the Westpac Business MasterCard Credit Card

Free Cash Advance Fee

The only thing that we really like about the Westpac Business Credit Card is that it offers free cash advance from New Zealand ATMs and using Global ATM Alliance ATMs.

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

No Rewards Programme

The Westpac Business credit card is a basic credit card and offers no rewards programme.

No Special Benefits

Despite charging an annual fee this credit card does not offer any special benefits such as purchase protection or travel insurance.

Is the Westpac Business MasterCard Credit Card Right for You?

The Westpac Business Credit Card is a basic credit card that allows you to manage your business expenditure seperately and could improve your monthly cashflow but it does not offer any rewards point or benefits compare to other business credit cards.

Frequently Asked Questions

Who can apply for the Westpac Business MasterCard Card?

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

Does the Westpac Business Credit Card charge an annual fee?

Yes, the Westpac Business Mastercard charges an annual fee of $50 per card.

Does the Westpac Business Credit Card charge for foreign currency transactions?

Yes, the Westpac Business MasterCard charges a Foreign currency fee of 2.50%.

What interest rate does the Westpac Business Mastercard charge?

The Westpac Business Mastercard credit card does not charge interest on purchases but full payment of all outstanding monthly balances are to be paid by direct debit by the due date.

Does the Westpac Business MasterCard offer a rewards programme?

No, the Westpac Business Mastercard does NOT offer a rewards programme.

Does the Westpac Business MasterCard include travel insurance?

No, the Westpac Business Mastercard does NOT include travel insurance as a benefit.

Eligibility Criteria

You must be a business owner or manager to apply for this credit card

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.

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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.