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 Card||Purchase |
|Move Bank |
|8.99% p.a.||$0 ($59 after|
|AMEX Low Rate|
|Community First |
McGrath Pink Visa
Visa Credit Card
Visa Credit Card
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
Westpac Low Rate
Westpac Low RateDetails
Defence Bank Foundation Credit Card
Defence Bank Foundation Credit CardDetails
CUA Low Rate Credit Card
CUA Low Rate Credit CardDetails
NAB Low Rate Card
NAB Low Rate CardDetails
Bank of Melbourne Vertigo Platinum
Bank of Melbourne Vertigo PlatinumDetails
^See information about the Mozo Experts Choice Credit Cards Awards
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