With a 8.99% purchase rate, 0% interest on balance transfers for six months, 55 interest-free days on purchases and a low annual fee, the Low Rate Credit Card from Community First Credit Union comes with all the features of a budget-friendly credit card. In fact, in 2021 it even bagged a Mozo Experts Choice Award for best Low Rate Credit Card.
If you’re likely to carry a balance each month but you're looking to reduce your costs, then the Low Rate Credit Card from Community First Credit Union could be one of the better options out there. At just 8.99%, the purchase rate is one of the lowest on the market, plus the annual fee is a relatively low $40 and you'll pay 0% interest on balance transfers for six months.
If you avoid carrying a balance each statement period then you’ll be able to take advantage of 55 interest-free days on your purchases. And speaking of purchases, you’ll be able to make them using your physical Low Rate Credit Card, or via your phone with either Apple Pay, Google Pay or Samsung Pay.
Need a credit card you can use internationally? While you’ll definitely be able to take the Low Rate Credit Card on your next trip abroad, just bear in mind that there is a 3.00% foreign exchange margin for overseas purchases.
It’s also worth mentioning that you’ll only be able to have one additional cardholder, and you’ll want to avoid making late payments otherwise you’ll be hit with a $20 fee.
Given the low purchase rate and annual fee, Community First Credit Union’s Low Rate Credit Card really is one of the more reasonable credit card options around for cardholders wanting to minimise the amount of interest and fees they pay.
While the cash rate on this card is also on the lower side (comparatively) at 8.99%, it’s generally advisable to use a debit card when withdrawing your own money to avoid paying more than you need to.
| 8.99% p.a. | |
| none | |
| 0% p.a. for 6 months and then 8.99% p.a. | |
| yes | |
| 8.99% p.a. | |
| 55 |
| $40.00 | |
| none | |
| none | |
| none | |
| $25.00 | |
| $2.50 | |
| 3.00% | |
| $1.50 | |
| $20.00 | |
| $0.00 |
| $20.00 | |
| 3.0 | |
| 1 | |
| none |
Apple Pay, Google Pay, Samsung Pay
Bendigo Bank
Low Rate Credit Card
0% p.a. for 18 months then 11.99% p.a.
No current offer
$45
Virgin Money
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months and then 20.99% p.a.
$129 $64 in the first year
Velocity Frequent Flyer
MoneyMe
Freestyle Virtual Mastercard
16.99% p.a.
No current offer
$209 $0 - $149 based on credit limit, $5/month for balances over $20.
Westpac
Low Rate
13.74% p.a.
0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
$59 $0 in the first year
Bendigo Bank
Platinum Rewards Credit Card
0% p.a. for 12 months then 19.99% p.a.
No current offer
$89
Bendigo Rewards
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 28 months and then 20.99% p.a.
$129 $0 in the first year
Velocity Frequent Flyer
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
Bendigo Bank
Platinum Rewards Credit Card
Bendigo Rewards
$89
No current offer
1.5 points uncapped
Virgin Money
Virgin Australia Velocity Flyer Card - Bonus Points Offer
Velocity Frequent Flyer
$129 $64 in the first year
100,000
0.66 points up to $1,500/month, then
0.5 points uncapped
Westpac
Altitude Black
Altitude Rewards
$250 $99 in the first year
180,000
1.25 points uncapped
American Express
Velocity Platinum Card
Velocity Frequent Flyer
$375
100,000
1.25 points uncapped
NAB
Qantas Rewards Signature Card
Qantas Frequent Flyer
$395 $295 in the first year
110,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 28 months and then 20.99% p.a.
20.74% p.a.
$129 $0 in the first year
Velocity Frequent Flyer
Virgin Money
Virgin Australia Velocity High Flyer Card
0% p.a. for 12 months and then 20.99% p.a.
20.74% p.a.
$289
Velocity Frequent Flyer
Westpac
Low Rate
0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
13.74% p.a.
$59 $0 in the first year
Bankwest
Breeze Mastercard
0% p.a. for 15 months and then 9.90% p.a.
0% p.a. for 15 months then 9.90% p.a.
$49 $0 in the first year
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
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
Bendigo Bank
Low Rate Credit Card
0% p.a. for 18 months then 11.99% p.a.
No current offer
$45
Virgin Money
Low Rate Card
11.99% p.a.
0% p.a. for 15 months and then 21.69% p.a. (1.00% balance transfer fee)
$99
MoneyMe
Freestyle Virtual Mastercard
16.99% p.a.
No current offer
$209 $0 - $149 based on credit limit, $5/month for balances over $20.
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 9.90% p.a.
0% p.a. for 15 months and then 9.90% p.a.
$49 $0 in the first year
Westpac
Low Rate
13.74% p.a.
0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
$59 $0 in the first year
NAB
Low Rate Card
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
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
Bendigo Bank
Low Rate Credit Card
0% p.a. for 18 months then 11.99% p.a.
No current offer
$45
Bendigo Bank
Platinum Rewards Credit Card
0% p.a. for 12 months then 19.99% p.a.
No current offer
$89
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 9.90% p.a.
0% p.a. for 15 months and then 9.90% p.a.
$49 $0 in the first year
St.George
Vertigo
0% p.a. for 18 months then 13.99% p.a.
No current offer
$55 $0 in the first year
David Jones
American Express Card
0% p.a. for 12 months then 20.74% p.a.
No current offer
$99
NAB
StraightUp Card
0% p.a.
No current offer
$120 $10/month - waived if no spend & no balance owing
Bank of Melbourne
Vertigo
0% p.a. for 18 months then 13.99% p.a.
No current offer
$55 $0 in the first year
BankSA
Vertigo
0% p.a. for 18 months then 13.99% p.a.
No current offer
$55 $0 in the first year
