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 2 March 2024

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure
  • NAB Low Rate Card - Balance Transfer Offer

    Spend with confidence with a low 13.49% p.a. variable purchase rate and 0% p.a. interest on balance transfers for the first 28 months (T&Cs apply). 2% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget better when you make minimum repayments. Minimum credit limit $1,000. No annual fee for the first year (usually $59).

    Purchase rate
    13.49% p.a.
    Balance transfer rate
    0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
    Annual fee
    $59 $0 in the first year
    Compare
    Details
  • American Express Low Rate Credit Card

    Competitive low rate with $0 Annual Fee. Offers Card Refund Cover and Card Purchase Cover. Must have no history of bed debt or payment default, be aged 18 years and over, and be an Australian citizen, permanent resident, or hold a long term visa.

    Purchase rate
    10.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $0
    Compare
    Details
  • HSBC Low Rate Credit Card

    Purchase rate
    12.99% p.a.
    Balance transfer rate
    0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)
    Annual fee
    $99
    Compare
    Details
  • Australian Unity Low Rate Visa Credit Card

    Purchase rate
    9.90% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $59
    Compare
    Details
  • MOVE Bank Low Rate Credit Card

    Purchase rate
    8.99% p.a.
    Balance transfer rate
    0% p.a. for 6 months and then 8.99% p.a.
    Annual fee
    $59 $0 in the first year
    Compare
    Details

^See information about the Mozo Experts Choice Credit Card Awards

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