Move Bank brand new low rate credit card makes money moves

By Remy Taylor ·

In news that will excite budget-conscious spenders, Move Bank has just launched a brand spanking new Low Rate Credit Card which joins the ranks of the lowest rate cards around.

The card, announced in January, was designed in response to customer feedback, its features include: 

  • A 8.99% p.a. purchase rate.
  • Up to 45 interest-free days.
  • A 12.99% p.a. cash advance rate
  • A $0 annual fee in the first year, which then converts to a still low $59 after.
  • A 6 month balance transfer period with 0% p.a. interest for those looking to clear any existing debt, which then converts to 8.99% p.a.

RELATED: Banks hike credit card rates

Why choose a low rate credit card?

Having a low rate card in your wallet means you usually won’t get all the bells and whistles like extra perks and a rewards scheme, but if you’re the type of person to occasionally carry a balance for a few months, a low-interest rate can be a lifesaver.

“While the best strategy is always to pay your credit card off in full before the due date, if you know you’re likely to carry a balance on you can minimise the impact interest has on your savings by choosing a card with a low rate. There’s a big difference between paying 8.99% interest and 24.99%,” said Mozo Director, Kirsty Lamont.

How does the Move Bank credit card match up to other low rate cards out there:

And if savvy spenders want to know anything, they’ll want to know how Move Bank’s Low Rate Credit Card compares to the lowest in our database:

Credit CardPurchase 
Interest
Rate
Annual
Fee
Interest
Free
Days
Move Bank
Low Rate
Credit Card
8.99% p.a.$0 ($59 after
 first year)
45
AMEX Low Rate
Credit Card
8.99% p.a.$055
Community First
Credit Union
McGrath Pink Visa
8.99% p.a.$4055
Easy
Low Rate
Visa Credit Card
8.99% p.a.$4055
Northern Inland
 Credit Union
Low Rate
 Visa Credit Card
8.99% p.a.$00

Looking for a truly low rate credit card for yourself? Don’t miss the chance to compare a range of options to suit your monthly spend at the Mozo low rate credit card comparison hub.

5 low rate credit card offers - last updated November 25, 2020

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.

  • Hot DealLimited time cashback offer

    Thumbnail icon for Westpac
    Westpac Low Rate

    13.74% p.a.

    0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

    $59

      Compare
    Details
  • Thumbnail icon for Defence Bank
    Defence Bank Foundation Credit Card

    3.99% p.a. for 6 months then 8.99% p.a.

    3.99% p.a. for 6 months and then 8.99% p.a.

    $45

      Compare
    Details
  • Thumbnail icon for CUA
    mozo-experts-choice-2020
    CUA Low Rate Credit Card

    11.99% p.a.

    0% p.a. for 20 months and then 21.74% p.a.

    $49 $0 in the first year

      Compare
    Details
  • Thumbnail icon for NAB
    NAB Low Rate Card

    12.99% p.a.

    0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)

    $59

      Compare
    Details
  • Hot DealCashback offer

    Thumbnail icon for Bank of Melbourne
    Bank of Melbourne Vertigo Platinum

    12.99% p.a.

    6.99% p.a. for 12 months and then 21.49% p.a.

    $99

      Compare
    Details

^See information about the Mozo Experts Choice Credit Cards Awards

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