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Home > Low Interest Rate Credit Cards |
Low Rate Credit Card Offers |
| Below is a list of the Best Australian Low Rate Credit Cards that you can apply for from e-CreditCards.com.au |
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Institution / Product Name
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Interest Rate
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Balance Transfers
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Fees
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Institution / Product Name
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Purchases
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Cash Advance
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Interest Rate
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Period |
Annual
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Late Payment
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Interest Fee Days
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Rewards
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More Info
Apply
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St.George Vertigo-Voted Australia's cheapest Credit Card -One of the lowest interest rates around-Bonus partner type rewards
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11.89%
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20.49%
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0%
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for 6 months
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$45
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$35
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55
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yes (Bonus Partners)
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ANZ Balance Visa
-Fantastic low rate and rewards-Top pick low rate & rewards-Earn rewards on repayments |
13.99%
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20.99%
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0%
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6 months
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$57
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$35
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55
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Yes
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Nab Low Rate Visa Card-Great low rate on purchases-Up to 6 months at 0% on balance transfers
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12.79%
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19.99%
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0%
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Up to 6 months
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$49
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$30
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55
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No
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St.George Platinum-Your own Personal Concierge Service (24 /7)-Complimentary insurance**-Instant discounts with St.George Instant Benefits
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14.25%
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20.49%
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3.99%
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Up to 6 months
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$89
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$35
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55
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yes (Bonus Partners)
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Citibank Personal Credit-Fantastic flexible line of credit-Low cash advance interest rate-Great long term balance transfer offer
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13.99%
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13.99%
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6.9%
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Life of Balance
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$69
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$30
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-
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No
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Aussie MasterCard-Special 0% balance transfer offer-One of Australia's lowest rate credit cards
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11.99%
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15.99%
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0%
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Up to 6 months
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$49
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$35
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55
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No
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ANZ Low Rate MasterCard -Very competitive low interest rate on purchases-Low 0% on balance transfers for up to 6 months-Attractive low rate credit card offer
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12.99%
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20.99%
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0%
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6 months
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$58
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$35
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55
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No
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Citibank Clear -Special 0% balance transfer offer-Low late payment fee of $10
-Low 10.99% on purchases
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11.99%
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17.99%
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0%
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for 6 months
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$65
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$10
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55
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No
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St.George Starts Low Stays Low-Low rate on purchases and cash advances-Top pick if you use your card for cash advances
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12.99%
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12.99%
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12.99%
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-
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$59
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$35
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55
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yes (Bonus Partners)
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St.George Gold Low Rate -Comprehensive Overseas Travel Insurance** -Purchase Cover and Extended Warranty Insurance**
-Low 14.25%p.a* and $79 annual fee
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14.25%
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18.25%
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-
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-
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$79
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$35
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55
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Yes
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Who should apply for a low rate credit card?
Credit Cards with low interest rate are best for those people who have outstanding monthly balances and/or you do not earn enough reward points to justify the annual fees associated with a reward program product. This figure as a guide is an $8,000 spend annually. The reason for this is that Reward Offers generally come with a yearly rewards program fee or disguised by a higher annual fee. Always remember that nothing is free, and these programs are expensive for the banks to operate.
Low rate offers have interest rates of between 9.90% - 13%. These offers are generally very basic, that being there is no associated reward points program and annual fees of between $35-$65. Some low rate credit cards offer “cash advance” interest rates at close to 20%, therefore before selecting your card you need to determine whether or not you would use the card occasionally for cash advances. If you will, then you should opt for an offer with a low cash advance rate. This fact is reinforced further by the fact that when you make payments on your card, the payments are also taken off the lowest interest bearing balance. Therefore if you occasionally use the card for cash advances, and you never completely pay off your outstanding balance, overtime the % of your outstanding balance attracting the higher cash advance rate will grow.
Remember the right card for you will greatly depend on your spend, repayment, outstanding balance habits. As a general rule:
- Low Rate Cards don’t have rewards programs (there might be partner discount programs), charge annual fees, and have introductory balance transfer offers.
- No Annual Fee Cards have interest rates between 13-16%, don’t have rewards programs (there might be partner discount programs).
- Reward Program Cards have interest rates higher than 16%, annual fees above the $80 mark and reward program fees might be on top of this.
You will notice that cards generally charge a higher interest rate for cash advances than they do for purchases, the reason for this is the banks see these types of transactions as a higher risk. If you think that you will need to obtain cash advances from time to time make sure you go for a product that offers a low interest rate on such advances. The reason being is that any payments you make will come off the lowest interest bearing balance first, therefore leaving you with high interest bearing cash advances.
Products that offer a cash back actually give you cash back on your monthly statements. You receive a small percentage of cash back for the purchases made. Products that offer cash back programs are limited.
All information on the site is given without warrenty and does not take into account your specific financial position. The information is written in general terms and therefore care needs to be taken when applying this information to your situation.
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