After the ANZ pushed up its credit card rates 0.05% earlier this week, it was only a matter of time before one of its “competitors” made a similar move.

And today it was Westpac, which earlier this week said it saw “opportunities” in the current subprime credit squeeze.

It certainly did — a chance to sting holders of its low profile Earth credit card, which is marketed as a cheap way to gain Qantas frequent flyer points, among other benefits.

But Westpac has been a bit sneakier than the ANZ, running small ads in national papers today (for example at the bottom of page 21 in The Australian‘s business pages), which announced new rates for the Earth and Earth+ cards, effective from today.

It doesn’t give the old rate but if you go to the website you will find that the new rate in purchases for the basic Earth card of 13.24% is 0.25% higher than the old rate of 12.99%. It seems all rates have been lifted by the full 0.25%.

But the old rate still up on the Earth site and on Westpac’s list of credit card rates, so what happens if I sign up on online, do I get the 12.99% still being promoted on the website, or the 13.24% in the small ads?

Sounds like something the toothless ones at the ACCC should give be giving Westpac a nudge over.