Whether you’re looking for a practical piece of plastic or just one that doesn’t cost an arm and a leg in fees - a low rate card could be right up your alley.
With low rate cards, you take away the fiddly rewards schemes and point counting and are left with simplicity in the way you spend.
But, even if they don’t all offer flashy rewards programs, the best low rate cards don’t just come with rock bottom interest rates either. Some also offer perks like no annual fee and interest-free days on your spending.
To help you choose which one might suit you, we’ve compiled a list of the low rate credit cards that you might be able to benefit from in 2019.
When it comes to simplicity, the ME frank Credit Card keeps things black and white. Not only does it have up to 55 interest-free days (as long as you pay your balance off in full by the payment date) and $0 annual fee, but a low 11.99% p.a. interest rate. Which means life with frank won’t break the bank if you can’t pay back purchases in full by month’s end. There’s no wonder it’s a multiple 2018 Mozo Experts Choice Award winner for best No Annual Fee Credit Card and best Low Rate Travel Credit Card.
Australian Military Bank Low Rate Visa Credit Card
0% balance transfer rate for 12 months
Low 11.99% purchase rate
Up to 45 interest-free days
The Australian Military Bank Low Rate Visa Credit Card features an ongoing purchase rate of 11.99%, so it’s gentle on any Aussie budget. And if you pay your balance off in full each month, you’ll also get up to 45 days interest-free to pay off your spend. The great thing is you don’t need to be a member of the military to have an account with Australian Military Bank, meaning anyone can apply for this Low Rate Visa Card. Which, did we mention, was recently awarded a 2018 Mozo Experts Choice Award in the balance transfer category for its 0% balance transfer rate for 12 months, and low revert rate of 11.99%?
CUA Low Rate Credit Card
Low 11.99% purchase rate
$0 annual fee in the first year ($49 after)
Up to 55 interest-free days
With $0 annual fee for the first year ($49 after) and up to 55 interest-free days on purchases, CUA Low Rate Credit Card has loads of attractive money-saving offers. Plus, its 11.99% purchase rate means you’ll be able to spend freely on the Low Rate credit card knowing you won’t break the bank with huge interest payments, even if you do miss a monthly repayment or two. Add in the 9 additional card holders you can have on one account and all you really need to watch out for with this card is the 21.74% cash advance rate.
American Express Essential Credit Card
$0 annual fee
1 point for every $1 spent
Purchase rate 14.99% and up to 55 interest-free days.
Super competitive purchase rate? Tick. $0 annual fee and $0 balance transfer for 12 months? Tick. Earn 1 point per $1 spend? Tick. Mozo Experts Choice Awards for Best Rewards Credit Card and Best Velocity Frequent Flyer Credit Card, and 2018 Credit Card Provider of the Year? Tick, tick and tick. The Essential Credit Card is great for spenders looking to keep spending costs low in 2019.
The Bendigo Bank Low Rate Mastercard has all the cost-savvy features you could want in a low rate plastic. From its 11.99% purchase rate to no annual fee in the first year and a very decent $45 fee afterwards, right through to its 55 interest-free days, this card could be your new best friend in 2019.