American Express Low Rate Credit Card

8.99% p.a.

0% p.a. for 12 months and then 8.99% p.a. (1.00% balance transfer fee)

$0

American Express Low Rate Credit Card Review

Rates and fees information correct as at 21 April 2018.

Review published: 31 March 2014

What's hot:

  • 0% on balance transfers for the first 12 months

  • A low rate - 8.99% on purchases

  • No annual fee

What's not:

  • 1% credit establishment fee for balances transferred

Mozo snapshot:

An Australian first, Amex’s low rate credit card boasts a very competitive interest rate of just 8.99% - the lowest you’ll see across American Express credit card products. Offering a handy 0% for 12 months on balances transferred from another card as well as no annual fee, it's little surprise that the card was awarded a 2017 Mozo Experts Choice award for best No Annual Fee Credit Card.

Key features:

The best feature of this card is a low 8.99% purchase rate. It’s not the lowest you’ll find in the market, but it is pretty close, which is something special coming from 2017 Mozo Credit Card Provider of the Year American Express who pride themselves on going above and beyond on service and extras.

The card comes with a handy 0% on Balance transfers for the first 12 months but be prepared to pay a one off credit plan establishment fee of 1% on any balance you choose to transfer.

The card has no annual fee and up to four supplementary cards at no extra cost.

It also comes with American Express’ refund and purchase protection meaning that Amex will repair or refund the cost of eligible items bought on the card that are damaged or stolen within 90 days of purchase.


Who it's good for:

For shoppers who want the glamorous feeling of paying by Amex card at the checkout without the gold plated price tag, this is the card for you.


Any catches?

It may be cheap but also the only card from American Express that comes without access to a rewards program. Watch out for the 1% credit plan establishment fee that will applies to any balance you transfer and keep in mind that some merchants will charge if you choose to pay on Amex.

If you do decide to take up the Balance Transfer offer be aware that you can only transfer a maximum of $7,500 or 50% of the total credit limit.

How are American Express credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 255
American Express credit cards reviews

6.1 7.2 7.3 6.7 7.5

Read American Express credit card reviews by the Mozo community

Latest reviews of American Express Low Rate Credit Card

American Express

American Express Low Rate Credit Card credit card review

Overall rating   9 / 10

Easy to use

Online phone app is awesome.

Full review

Online phone app is awesome.

    Price   8 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Bronwyn (QLD), reviewed over 2 years ago

American Express

American Express Low Rate Credit Card credit card review

Overall rating   4 / 10

It's alright

Very few will take them. But most of them charge extra as surcharge. I have to pay more if I really want to pay by AMEX.

Full review

Very few will take them. But most of them charge extra as surcharge. I have to pay more if I really want to pay by AMEX.

    Price   5 / 10

    Features   4 / 10

    Customer service   4 / 10

    Convenience   2 / 10

    Trust   5 / 10

Less

Awan (NT), reviewed over 2 years ago

American Express

American Express Low Rate Credit Card credit card review

Overall rating   9 / 10

Great customer service.

I use Amex first for the maximum QFF points. By paying it off each month and accumulating my points, I can then fly in comfort on my holidays.

Full review

I use Amex first for the maximum QFF points. By paying it off each month and accumulating my points, I can then fly in comfort on my holidays.

    Price   8 / 10

    Features   10 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Judy (VIC), reviewed over 2 years ago

American Express

American Express Low Rate Credit Card credit card review

Overall rating   10 / 10

The premiums are good and customer service OK.

This bank is fantastic, it provides me with everything I need. I couldn't fault it at all. When dealing with banks you look for security , convenience, reliability, and this bank has got it all.

Full review

This bank is fantastic, it provides me with everything I need. I couldn't fault it at all. When dealing with banks you look for security , convenience, reliability, and this bank has got it all.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Saeed (TAS), reviewed over 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • 8.99% p.a.

  • none

  • 0% p.a. for 12 months and then 8.99% p.a. (1.00% balance transfer fee)

  • no

  • none

  • 55

Fees

  • $0.00

  • none

  • none

  • none

  • $30.00

  • none

  • 3.00%

  • $10.00

  • $7.00

  • $0.00

Other financial bits

  • $30.00

  • 2.5

Features

  • 4

  • The maximum balance transfer that can be approved is $10,000 or 70% of approved credit limit, whichever is less.

  • Refund and Purchase Protection.

About American Express

American Express is a global mega provider of credit cards, including gold cards, platinum cards, charge cards and more. With American Express, you can find a credit card to suit your lifestyle, tastes and aspirations. If you're a rewards points junkie, be sure to check out the hugely popular American Express rewards programs, including Qantas Frequent Flyer points and Qantas Club rewards.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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