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Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
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Spend with confidence with a low variable purchase rate and 0% p.a. interest on balance transfers for the first 24 months. Unpaid balance transfer reverts to variable cash advance rate. 3% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget when you pay your account in full by the due date. Minimum credit limit $1,000. Low annual fee. T&Cs, fees, charges and eligibility criteria apply.
Spend with confidence with a low variable purchase rate and 0% p.a. interest on balance transfers for the first 24 months. Unpaid balance transfer reverts to variable cash advance rate. 3% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget when you pay your account in full by the due date. Minimum credit limit $1,000. Low annual fee. T&Cs, fees, charges and eligibility criteria apply.
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Looking for a standard credit card? Start here:
Want credit card rewards and perks? Check these out:
In Australia, low rate credit cards typically have an interest rate below 14% p.a., compared to rewards credit cards, which tend to have rates around 20% p.a., making them a very competitively-priced credit card option.
Suited to those who want to reduce the amount of interest they are charged, these low interest credit cards often don’t come with any perks, bonuses, or rewards programs. However, some providers do offer balance transfer deals on their low rate cards, if you’re looking to consolidate existing credit card debt.
While a low interest rate is tempting, it’s worth considering the pros and cons of these types of credit cards.
The best low rate credit cards, according to the 2024 Mozo Experts Choice Awards, are:
| Provider name | Product name |
| Community First Bank | Low Rate, Low Rate Blue & Low Rate Pink Credit Cards |
| Credit Union SA | Education Community Visa Credit Card |
| Defence Bank | Foundation Credit Card |
| Easy Street | Easy Low Rate Visa Credit Card |
| G&C Mutual Bank | Low Rate Visa Credit Card |
| Illawarra Credit Union | Low Rate Credit Card |
| MOVE Bank | Low Rate Credit Card |
Check out more of the best credit cards in Australia, including top picks for this month by the Mozo editors.
When you come to compare low rate credit cards, the key features to pay attention to include:
Mozo’s expert guides are here to help you make the most of your credit card. See all
All the latest credit card news and tips to help you manage your credit card. See all
Crunch the cost of your credit card. View all
To qualify for a low rate credit card, you must:
Low rate credit cards don’t typically have the same perks that rewards or platinum credit cards do. That being said, the low purchase rate could be considered a pretty big ‘perk’ in itself.
Whether or not a low interest rate credit card is the best option for you depends on how you plan to use your credit card. If you plan to make purchases while only repaying the minimum payment amount required by your bank, then a low interest rate will mean you’re charged less interest on your balance owing.
If, however, you want perks like rewards points or complimentary insurance, or if you want a credit card to make travelling overseas cheaper, then a low rate card might not be the best fit for you.
Make sure you learn about the different types of credit cards available in Australia and the different features you can get, to help you decide.
Different banks have different minimum payment amounts for low rate cards. However, you can usually expect to pay between $10 to $25, or 2% of the balance owing, whichever is higher.
When you have a joint account almost everything needs to be done in branch. But our local branch is only open 10-2 and they don’t accept appointments for weeks in advance. We moved everything except our credit card (for now) because of lack of convenience when trying to make any changes to our accounts.
Read full reviewWhen you have a joint account almost everything needs to be done in branch. But our local branch is only open 10-2 and they don’t accept appointments for weeks in advance. We moved everything except our credit card (for now) because of lack of convenience when trying to make any changes to our accounts.
Have been scammed twice , Bank was quick to refund me .
Read full reviewHave been scammed twice , Bank was quick to refund me .
Fantastic credit card I've been using for at least 10 years. Very helpful for budgeting. Categorises spends so you can see where you spend your money
Read full reviewFantastic credit card I've been using for at least 10 years. Very helpful for budgeting. Categorises spends so you can see where you spend your money
In terms of application for credit cards, I have found NAB, by far, the easiest to deal with and absolutely the most efficient. I have a great credit rating, however, i change credit cards often and have found it can be a time-consuming and frustrating process. While some elements are understandable, I was taken aback with how easy NAB made it, with intuitive, easy to understand forms and constant updates on the status of your application. I literally applied for a card and was able to use it (digitally) within 3 business days. That is seriously the fastest and most efficient experience I have had to date. Well done NAB! - and for all the other banks out there (especially Bank of Melbourne and ANZ) you could learn a thing or two from them.
Read full reviewIn terms of application for credit cards, I have found NAB, by far, the easiest to deal with and absolutely the most efficient. I have a great credit rating, however, i change credit cards often and have found it can be a time-consuming and frustrating process. While some elements are understandable, I was taken aback with how easy NAB made it, with intuitive, easy to understand forms and constant updates on the status of your application. I literally applied for a card and was able to use it (digitally) within 3 business days. That is seriously the fastest and most efficient experience I have had to date. Well done NAB! - and for all the other banks out there (especially Bank of Melbourne and ANZ) you could learn a thing or two from them.
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