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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 (Enjoy $250 back to a new ANZ Low Rate Platinum) 11.49% 55 $99 $444
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ANZ Low Rate (Enjoy $100 back to a new ANZ Low Rate credit card) 12.49% 55 $58 $433
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Bank of Melbourne Vertigo Platinum (0% p.a. for 24 months on balance transfers with 2% 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 2% 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 - Exclusive Offer (0% for 24 months (no BT fee). Reverts to cash advance rate currently 21.49%p.a. + $0 annual fee for the first year) 12.74% 55 0%24 mths $99 $481
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Coles Low Rate MasterCard 12.99% 62 0%6 mths $58 $448
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Bank of Melbourne Vertigo Visa (0% p.a. for 18 months on balance transfers with 2% BT fee. Reverts to cash advance rate currently 21.49%p.a.) 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 2% BT fee. Reverts to cash advance rate currently 21.49%p.a.) 13.24% 55 0%18 mths $55 $452
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St.George Vertigo Visa - Exclusive Offer (0% for 18 months (no 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 20 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.+ Smart Plan) 13.49% 55 0%20 mths $59 $464
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Westpac Low Rate Exclusive (0% p.a. for 24 months on balance transfers requested at card application (2% balance transfer fee applies#). Rate then switches to applicable variable cash advance rate) 13.49% 55 0%24 mths $59 $464
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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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ANZ Rewards Black (Get 75,000 Reward Points when you spend $2,500 on eligible purchases within first 3 months of approval plus no annual fee for the first year) 18.79% 55 $375 $939
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ANZ Rewards (Get 25,000 Reward Points when you spend $2,500 on eligible purchases within first 3 months of approval plus no annual fee for the first year) 18.79% 44 $80 $644
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ANZ Rewards Platinum (Get 65,000 Reward Points when you spend $2,500 on eligible purchases within first 3 months + no annual fee for the first year) 18.79% 55 $95 $659
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Bank of Melbourne Amplify (0%p.a. for 18 months for balance transfers with a 2% BT fee. Reverts to cash advance rate currently 20.24%p.a.) 19.49% 55 0%18 mths $79 $664
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Bank of Melbourne Amplify Platinum (Earn 60,000 Bonus Qantas Points or Amplify points when you take out an Amplify Platinum card and spend $3,000 within 90 days from card approval.#) 19.49% 55 $99 $684
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Bank of Melbourne Amplify Signature (Earn 90,000 bonus Qantas or Amplify Points on a new card, when you spend $3000 within 90 days from card approval. Exclusions apply.#) 19.49% 55 $279 $864
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BankSA Amplify Credit Card (0%p.a. for 18 months for balance transfers with a 2% BT fee. Reverts to cash advance rate currently 20.24%p.a.) 19.49% 55 0%18 mths $79 $664
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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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