Westpac spruiks low-rate card at hearing

Westpac boss Brian Hartzer has tried to head off parliamentary questioning about high credit card fees, announcing his bank will be issuing a no-frills card in coming months.

Mr Hartzer is being grilled by the House of Representatives economics committee, the last of the big four banks to come under the spotlight in federal parliament's latest review.

"Westpac has identified the need for a no-frills, low-interest rate credit card ... this new card will be available to customers in coming months and will have an interest rate of less than 10 per cent and a low credit limit," Mr Hartzer said in his opening statement on Wednesday.