Thumbnail icon for American Express

American Express Low Rate Credit Card

Purchase rate
8.99% p.a.
Balance transfer rate
No current offer
Annual fees
$0
Interest free days on purchases
55

Mozo editorial review American Express Low Rate Credit Card

Last updated: 24 March 2020.

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What's hot
  • 2019 Credit Card Provider of the Year
  • Triple 2019 Mozo Experts Choice Award winner
  • 8.99% purchase rate and no annual fee
What's not
  • 3.00% foreign exchange margin
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. Plus it offers no annual fee, so it's little surprise that the card was awarded a whopping three 2019 Mozo Experts Choice awards for best Low Rate Credit Card, best Balance Transfer Card and best No Annual Fee Credit Card. 

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Key features

There's no doubting it, the best feature of this card is the 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 2019 Mozo Credit Card Provider of the Year American Express who pride themselves on going above and beyond on service and extras.

The card has no annual fee and up to four additional card members 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.


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Who is it 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.


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Any catches

While this card might be a good option to use at home here in Australia, remember that if you decide to use it to spend overseas you'll face a 3.00% foreign exchange margin.  

Details

Rates and fees information correct as at 16 July 2020 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 8.99% p.a.

  • none

  • No current offer

  • no

  • none

  • 55

Fees
  • $0.00

  • none

  • none

  • none

  • $30.00

  • none

  • 3.00%

  • $10.00

  • $7.00

  • $0.00

Features
  • $30.00

  • 2.5

  • up to 4

  • none

Payment options

Apple Pay, Google Pay, Samsung Pay

Rewards privileges

Purchase Protection,
Refund Protection

Other benefits

Refund and Purchase Protection.

Customer Reviews

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

Overall customer rating
6.6/10
Price
5.6/10
Features
6.8/10
Customer service
6.8/10
Convenience
5.8/10
Trust
7.0/10

Latest reviews of American Express Low Rate Credit Card

  • Overall 0/10
    Disappointing, frustrating, incompetent and so on.

    I applied for a Low Interest credit AMEX card, just the basic one, and I thought I could transfer my balance from my ANZ card, which had a higher rate. I filled out the application online and it was approved literally straight away. There was absolutely no indication of any problem or difficulty, so I thought the whole thing went through. A couple of days later I got a letter from the bank saying I was approved to transfer only a fraction of my request to the AMEX card, which was approved for a totally ridiculous 1000 credit limit only!! Even a high schooler would have received more, I think, with no income whatsoever. Once I received the letter and the card, I rang up straight away and wanted to cancel the deal. I was advised the credit limit cannot be changed since it's done by the machine, then also the transfer of the amount cannot be stopped, since it is also done by the machine, regardless of if you accepted the offer or not!! You would think, if you don't get what you applied for, someone will give you a call and let you know, and try to find out if you still want to go ahead with the deal or not. I mean, this would be a proper customer service procedure. They "assumed" - or the machine assumed - it is OK just to go ahead. I rang immediately, I cancelled my card, which was not even activated. It also makes me wonder how a balance can be transferred to a card which is not even active, but as I was told again, the machine is doing it. Yap, they cannot interfere with the machine! They cannot help me, sorry. I felt like I was going to explode, I was so bloody frustrated. AMEX shame on you, a ridiculously, inadequate, inefficient and incompetent lot. I advise not to start with them. I will never again, for sure.

    Read full review

    I applied for a Low Interest credit AMEX card, just the basic one, and I thought I could transfer my balance from my ANZ card, which had a higher rate. I filled out the application online and it was approved literally straight away. There was absolutely no indication of any problem or difficulty, so I thought the whole thing went through. A couple of days later I got a letter from the bank saying I was approved to transfer only a fraction of my request to the AMEX card, which was approved for a totally ridiculous 1000 credit limit only!! Even a high schooler would have received more, I think, with no income whatsoever. Once I received the letter and the card, I rang up straight away and wanted to cancel the deal. I was advised the credit limit cannot be changed since it's done by the machine, then also the transfer of the amount cannot be stopped, since it is also done by the machine, regardless of if you accepted the offer or not!! You would think, if you don't get what you applied for, someone will give you a call and let you know, and try to find out if you still want to go ahead with the deal or not. I mean, this would be a proper customer service procedure. They "assumed" - or the machine assumed - it is OK just to go ahead. I rang immediately, I cancelled my card, which was not even activated. It also makes me wonder how a balance can be transferred to a card which is not even active, but as I was told again, the machine is doing it. Yap, they cannot interfere with the machine! They cannot help me, sorry. I felt like I was going to explode, I was so bloody frustrated. AMEX shame on you, a ridiculously, inadequate, inefficient and incompetent lot. I advise not to start with them. I will never again, for sure.

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Ilona, New South Wales reviewed 4 months ago
  • Overall 10/10
    Fantastic customer service.

    I had an old Amex and wanted to change to a low rate option. Called customer service and it was the best experience I’ve had with a financial institution. So easy to deal with...

    Read full review

    I had an old Amex and wanted to change to a low rate option. Called customer service and it was the best experience I’ve had with a financial institution. So easy to deal with...

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Anthony, Victoria reviewed 8 months ago
  • Overall 9/10
    Easy to use

    Online phone app is awesome.

    Read 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, Queensland reviewed over 4 years ago
  • Overall 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.

    Read 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, Northern Territory reviewed over 4 years ago
  • Overall 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.

    Read 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, Victoria reviewed almost 5 years ago
American Express

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.

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$299 $199 in the first year

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19.99% p.a.

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2.99% p.a. for 9 months and then 17.99% p.a.

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0% p.a. for 13 months and then 21.74% p.a.

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$49 $0 in the first year

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0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)

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10.49% p.a.

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$39

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11.99% p.a.

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$79

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0% p.a. for 6 months and then 9.99% p.a.

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