The ANZ Low Rate credit card has everything a good credit card should have: a low 12.49% interest rate on purchases and a low $58 annual fee (waived in the first year). Plus, if you need to get rid of some pesky debt, pick up a 0% p.a. balance transfer offer for 30 months without being charged a balance transfer fee.
With many credit cards having interest rates of 19.00% p.a. and over, you could save money by switching to the ANZ low rate card. That's because this card has an ongoing purchase rate of 12.49% p.a..
The card also comes with a relatively low annual fee of $58, which is actually waived for new cardholders in the first year. Just be sure to set up automatic monthly repayments or you'll have to pay a $20 late payment fee.
If you need to clear some lingering credit card debt, you can take advantage of a 30 month balance transfer period with 0% p.a. interest, and you won't incur a balance transfer fee. Just bear in mind that once the balance transfer period is up, any remaining balance will be subject to an interest rate of 21.24% p.a..
If you are travelling overseas you can use your low rate card wherever Mastercard is accepted. You will have to pay a 3.00% foreign currency conversion on all purchases made using your ANZ Low Rate card overseas.
The ANZ Low Rate card is good for anyone who is looking for a low cost credit card for their online and day-to-day purchases. To get your hands on it, you'll need to be 18 or over, and be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your Visa.
Don't be tempted to use the credit card for cash withdrawals otherwise you will be paying a high 21.24% p.a..
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12.49% p.a. |
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none |
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0% p.a. for 30 months and then 21.24% p.a. |
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|
yes |
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|
21.24% p.a. |
|
|
55 |
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$58.00 |
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$0 in the first year |
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none |
|
|
$0.00 |
|
|
$20.00 |
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|
2% |
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|
3.00% |
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|
$0.00 |
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|
$0.00 |
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|
$0.00 |
|
$25.00 |
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|
2.0 |
|
|
3 |
|
|
Balance transfer offer applies to new cards. T&Cs, eligibility criteria, fees & charges apply (including Annual Fee, currently $58, after 1st year). |
Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit
This bank charges some 21%+ on its credit cards with no option for lower interest rates. Other big banks charge lower interest rates, some even down to 9%+. Not ANZ
Read full reviewThis bank charges some 21%+ on its credit cards with no option for lower interest rates. Other big banks charge lower interest rates, some even down to 9%+. Not ANZ
I have lodged an online application over 3 weeks ago and after two weeks an Assessor contacted me to provide further income information as I'm self-employed. I went to Narellan NSW Branch where I was greeted by unhelpful staff (" I don't have time to upload your documents and you need to make an appointment") There was at least 3 people inside the Branch waiting for a teller. When I finally received a call from another Assessor (overseas based) which I was not aware as it was a local Australia number calling me. I questioned him about how he worked out my Self-employed income and he could not explain, he kept telling me that you cannot afford this credit card. Warning to any self-employed not to apply through ANZ, unless you want to leave your decision to an untrained overseas staff (they do not understand our demographics). If it does not fit into the box, then you'll be declined!!
Read full reviewI have lodged an online application over 3 weeks ago and after two weeks an Assessor contacted me to provide further income information as I'm self-employed. I went to Narellan NSW Branch where I was greeted by unhelpful staff (" I don't have time to upload your documents and you need to make an appointment") There was at least 3 people inside the Branch waiting for a teller. When I finally received a call from another Assessor (overseas based) which I was not aware as it was a local Australia number calling me. I questioned him about how he worked out my Self-employed income and he could not explain, he kept telling me that you cannot afford this credit card. Warning to any self-employed not to apply through ANZ, unless you want to leave your decision to an untrained overseas staff (they do not understand our demographics). If it does not fit into the box, then you'll be declined!!
I've held this account for several years and have never ever had a problem with it or the bank. That's good enough for me to be able to recommend it.
Read full reviewI've held this account for several years and have never ever had a problem with it or the bank. That's good enough for me to be able to recommend it.
Okay credit card, no frills but low rate. On par with other banks.
Read full reviewOkay credit card, no frills but low rate. On par with other banks.
I love my credit card with ANZ but I noticed that when COVID-19 hit I remember the government said not to add interest and they added a $64 interest 3 times during COVID-19 lockdowns. That’s really no good.
Read full reviewI love my credit card with ANZ but I noticed that when COVID-19 hit I remember the government said not to add interest and they added a $64 interest 3 times during COVID-19 lockdowns. That’s really no good.
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Westpac
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13.74% p.a.
6.99% p.a. for 12 months and then 21.49% p.a. (1.00% balance transfer fee)
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13.99% p.a.
0% p.a. for 32 months and then 21.49% p.a.
$55 $0 in the first year
NAB
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12.99% p.a.
0% p.a. for 32 months and then 21.74% p.a. (0% balance transfer fee)
$59 $0 in the first year
Bank of Melbourne
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13.99% p.a.
0% p.a. for 32 months and then 21.49% p.a.
$55 $0 in the first year
Great Southern Bank
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11.99% p.a.
0% p.a. for 33 months and then 21.74% p.a.
$49 $0 in the first year
BankSA
Vertigo
13.99% p.a.
0% p.a. for 32 months and then 21.49% p.a.
$55 $0 in the first year
American Express
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20.74% p.a.
No current offer
$195 $0 in the first year
Membership Rewards
American Express
Qantas Ultimate Card
Qantas Frequent Flyer
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100,000
1.25 points uncapped
Westpac
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75,000
0.5 points up to $100,000/year
St.George
Amplify Rewards Platinum
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$99 $29 in the first year
100,000
1 point uncapped
American Express
Platinum Edge Credit Card
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$195 $0 in the first year
No current offer
1 point uncapped
David Jones
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Qantas Frequent Flyer
$99
No current offer
0.5 points uncapped
Bank of Melbourne
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$99 $29 in the first year
100,000
1 point uncapped
American Express
Cashback Credit Card
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No current offer
1 point uncapped
Bendigo Bank
Low Rate Credit Card
0% p.a. for 20 months and then 11.99% p.a. (2.00% balance transfer fee)
0% p.a. for 20 months then 11.99% p.a.
$45
Bank of Melbourne
Vertigo
0% p.a. for 32 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
BankSA
Vertigo
0% p.a. for 32 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
HSBC
Platinum Credit Card
0% p.a. for 36 months and then 21.99% p.a.
19.99% p.a.
$129 $29 in the first year
Rewards Plus
Great Southern Bank
Low Rate Credit Card
0% p.a. for 33 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
St.George
Vertigo
0% p.a. for 32 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
St.George
Amplify Rewards Platinum
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
19.49% p.a.
$99
Qantas Frequent Flyer
Bank of Melbourne
Amplify Rewards Platinum
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
19.49% p.a.
$99 $29 in the first year
Rewards
Bendigo Bank
Low Rate Credit Card
0% p.a. for 20 months then 11.99% p.a.
0% p.a. for 20 months and then 11.99% p.a. (2.00% balance transfer fee)
$45
St.George
Vertigo
13.99% p.a.
0% p.a. for 32 months and then 21.49% p.a.
$55 $0 in the first year
BankSA
Vertigo
13.99% p.a.
0% p.a. for 32 months and then 21.49% p.a.
$55 $0 in the first year
Great Southern Bank
Low Rate Credit Card
11.99% p.a.
0% p.a. for 33 months and then 21.74% p.a.
$49 $0 in the first year
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13.74% p.a.
6.99% p.a. for 12 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Bank of Melbourne
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13.99% p.a.
0% p.a. for 32 months and then 21.49% p.a.
$55 $0 in the first year
Bendigo Bank
Low Rate Credit Card
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0% p.a. for 20 months and then 11.99% p.a. (2.00% balance transfer fee)
$45
Great Southern Bank
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11.99% p.a.
0% p.a. for 33 months and then 21.74% p.a.
$49 $0 in the first year
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No current offer
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BankSA
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0% p.a. for 12 months then 20.74% p.a.
No current offer
$0
NAB
StraightUp Card
0% p.a.
No current offer
$180 $15/month - waived if no spend & no balance owing
