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Banking / The best credit cards / Low Rate Credit Cards

Want lower rates on your credit card?

If you don’t always pay off the full balance on your credit card each month, you might want to consider a low rate credit card.

While you will still need to make the minimum monthly repayment, a low rate credit card can help you keep your debt under control by reducing the amount of interest you are charged on your remaining balance. They may not offer fancy rewards or perks, but they are a good option for staying on top of your finances.

Here you can compare different low rate credit cards from various banks and credit unions to find the best product for your needs.

Let's get started: What is a credit card? | What types of credit cards are there? | How to apply for a credit card


Card Name Purchase Rate Max Free Days Introductory Purchase Rate Balance Transfer Rate Annual Fee Rewards Program Available? First Year Cost Comparison* Click on the column heading to sort
ANZ Low Rate Platinum (0% p.a. for the first 15 months on balance transfers. No Balance Transfer Fee. Reverts to standard balance transfer rate currently 21.74% p.a.*) 11.49% 55 0%15 mths $99 $444
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ANZ Low Rate (0% p.a. first 15 months on balance transfers. No Balance Transfer Fee. Reverts to standard balance transfer rate, currently 21.74% p.a.*) 12.49% 55 0%15 mths $58 $433
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Bank of Melbourne Vertigo Platinum (0% p.a. for 24 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a.) 12.74% 55 0%24 mths $99 $481
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BankSA Vertigo Platinum (0% p.a. for 24 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a.) 12.74% 55 0%24 mths $99 $481
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St.George Vertigo Platinum - Online Exclusive Offer (0% for 24 months (no BT fee). Reverts to cash advance rate currently 21.49%p.a.) 12.74% 55 0%24 mths $99 $481
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St.George Rainbow Vertigo Platinum Card (0% p.a. for 24 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a.) 12.74% 55 0%24 mths $99 $481
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St.George Vertigo Platinum (0% p.a. for 24 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a.) 12.74% 55 0%24 mths $99 $481
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Bankwest Breeze MasterCard 12.99% 55 0%24 mths $79 $469
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Bankwest Breeze Platinum MasterCard 12.99% 55 0%24 mths $99 $489
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Bank of Melbourne Vertigo Visa (0% p.a. for 18 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a. + $0 annual fee for the first year.)) 13.24% 55 0%18 mths $55 $452
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BankSA Vertigo Visa (0% p.a. for 18 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a. + $0 annual fee for the first year.) 13.24% 55 0%18 mths $55 $452
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St.George Vertigo Visa (0% p.a. for 18 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a. + $0 annual fee for the first year) 13.24% 55 0%18 mths $55 $452
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St.George Rainbow Vertigo Card (0% p.a. for 18 months on balance transfers with 1% BT fee. Reverts to cash advance rate currently 21.49%p.a. + $0 annual fee for the first year) 13.24% 55 0%18 mths $55 $452
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Westpac Low Rate (0% p.a. for 24 months on balance transfers requested at card application (2% BT fee applies#). Rate then switches to applicable variable cash advance rate currently at 21.49%p.a.) 13.49% 55 0%24 mths $59 $464
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NAB Low Rate Card (0% p.a. on purchases for 6 months* on a new NAB Low Rate Card) 13.99% 55 0%6 mths $59 $479
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NAB Low Rate Platinum Card (0% p.a. on purchase interest rate for 9 months* on a new NAB Low Rate Platinum Card.) 13.99% 0 0%16 mths $100 $520
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The American Express Essential® Credit Card 14.99% 55 0%12 mths $0 $450
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Citi Clear Platinum Credit Card 14.99% 55 $99 $549
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Bankwest Zero MasterCard 17.99% 55 2.99%9 mths $0 $540
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Bankwest Zero Platinum MasterCard 17.99% 55 2.99%9 mths $0 $540
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“Sponsored” products are displayed first within the search results pages and can be re-sorted without this filter by de-selecting the “Show sponsored listings first” checkbox. For more information on how we’ve selected these “Sponsored” and “Featured” products click here.

*The First Year Cost Comparison is the total interest payable over one year on a monthly outstanding balance of $3,000 plus the credit card’s annual fee. Introductory purchase rate offers and balance transfer offers are taken into account where applicable.

**The Spend required is based on the approximate everyday spending needed to redeem a $100 gift card or a return flight from Sydney to Melbourne from the rewards program, given the credit card’s point earning capability. For rewards programs that do not have a set number of points to redeem flights, the approximate spend is based on a $300 travel voucher. Bonus point offers and point capping are not included in the calculation.


Low Rate Credit Card Articles

A balance transfer credit card is an increasingly popular way to pay down credit card debt and unsecured personal debt while avoiding interest. - What is a balance transfer credit card?

Does an interest free period on your existing credit card balance sound appealing? - How to effectively use a "Balance Transfer"

Cutting back on the interest expense on your current card is the most obvious way you can save money with a balance transfer credit card, just compare the interest rates. - Balance Transfer Credit Card Offers

 


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