Move Bank brand new low rate credit card makes money moves

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 February 26, 2021

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
  • Apply By May 31, 2021
    Bendigo Bank Low Rate Credit Card

    0% p.a. balance transfer for 18 months (Reverts to 11.99% p.a). Low annual fee of $45 and no fees for additional cardholders.

    Purchase rate
    Balance transfer rate
    Annual fee
    11.99% p.a.
    0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)
    $45
    Compare
    Details
  • Defence Bank Foundation Credit Card

    Defence Bank Low Rate Credit Card offers a 3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances. Up to 55 days interest free on purchases.

    Purchase rate
    Balance transfer rate
    Annual fee
    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
  • St.George Vertigo

    0% p.a. for 24 months on balance transfers requested at card application. No balance transfer fee. Rate then switches to applicable variable cash advance rate. First year annual card fee waived for the first year ($55 thereafter). Available to new cards only, Eligibility criteria and T&Cs apply. Offer ends March 2nd 2021. Mozo Experts Choice Balance Transfer Credit Card Winner 2020^.

    Purchase rate
    Balance transfer rate
    Annual fee
    13.99% p.a.
    0% p.a. for 24 months and then 21.49% p.a.
    $55 $0 in the first year
    Compare
    Details
  • NAB StraightUp Card

    $10/month - $1,000 Credit Limit

    Pay no interest and no late payment fees, just a $10 monthly fee for a $1,000 credit limit. Plus, if you don't make any purchases and have an outstanding balance of $0 during the whole statement period, the monthly fee will be reversed. Also pay no foreign currency fees when you shop online or overseas. Mozo Experts Choice Credit Card Innovation Winner 2020^.

    Purchase rate
    Balance transfer rate
    Annual fee
    0% p.a.
    No current offer
    $120 $10/month - waived if no spend & no balance owing
    Compare
    Details
  • Mozo Experts Choice 2020
    CUA Low Rate Credit Card

    0% balance transfer rate for 20 months and up to 55 interest free days. No annual fee for the first year and $49 after. Mozo Experts Choice Balance Transfer Platinum Credit Card Winner 2020^

    Purchase rate
    Balance transfer rate
    Annual fee
    11.99% p.a.
    0% p.a. for 20 months and then 21.74% p.a.
    $49 $0 in the first year
    Compare
    Details

^See information about the Mozo Experts Choice Credit Cards Awards

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