Compare low-rate credit cards with just one click. InfoChoice.com.au offers a credit card comparison tool that allows you to compare our best options at a glance before diving deeper into the details.
[Receive a welcome bonus of 150, 000 Membership Rewards points when you apply online by 25 June 2024, are approved, and meet the minimum spend criteria of $5, 000 in the first 3 months. Available to new Card Members only.
Receive a $450 Platinum Travel Credit each year, which can be redeemed for eligible flights, hotels, car hire or unique experiences.
Transfer your points to a choice of 10 major Airline Reward Partner Programs including Qantas Frequent Flyer and Velocity Frequent Flyer
Complimentary access for you and a guest to over 1, 400 Airport lounges across 140 countries and counting.
Complimentary domestic and overseas travel insurance.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone when you pay for your smartphone with your Platinum Card, either outright or on a monthly contract., ]
[No Cash Advances.
No surprise charges. You’ll pay no interest or late payment fees – just a simple monthly fee.
No Use, No Pay. If you don\'t make any purchases and have an outstanding balance of $0 during the whole statement period we\'ll reverse your monthly fee.
No foreign currency fees. Save money on international purchases, online or overseas.
Predictable Payments. Your minimum payment is fixed based on your credit limit, giving you certainty of what to pay each month. Apple Pay, Google Pay, Samsung Pay.
From 13 September 2024, the monthly card fee for the NAB StraightUp Card will be increasing to $20 per month for credit limit $1, 001-$2, 000 and $30 per month for credit limit $2, 001-$3, 000. , ]
[Low ongoing variable interest rate
0% p.a. on balance transfers for 12 months.
Same ongoing rate for retail purchases, cash advances and balance transfers
Up to 55 days interest free.
Additional card available for $0.
Minimum credit limit $500
Low annual fee of $40.
Half the annual fee ($20) donated to the McGrath Foundation every year you hold the card.
Choose a credit limit from as little as $500 and up to $15, 000.
Access to the worldwide Visa network.
Replacement of Visa card (within Australia) $12.50
Replacement of a Visa Card (overseas) $55
Apple Pay, Android Pay, Google Pay, Samsung Pay, ]
[3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances.
8.99% p.a. ongoing rate on purchases and cash advances.
Up to 55 days interest free on purchases.
Half of the $45 annual fee is donated to the Defence Bank Foundation and goes towards providing specially-trained assistance dogs to veterans living with post-traumatic stress disorder (PTSD).
Minimum credit limit. $1, 000.00
Visa cards reported lost or stolen overseas- Foreign currency conversion fee, percentage of value of transaction.
- Emergency overseas Visa replacement fee. US$175
- Emergency overseas Visa cash advance fee. US$175
Apple Pay, Google Pay, Samsung Pay
, ]
[A low $49 annual fee but you pay NO FEE if you spend a minimum of $12, 000 annually after the first year
Minimum Credit Limit $1, 000.00
Replacement card fee Domestic $7.00
Google Pay, ]
[Up to 57 days interest-free credit.
Competitive low interest rate on purchases
Low annual fee of $39 - waived if you make purchases of more than $8, 000 a year.
Accepted at more than 24 million outlets worldwide - just look for the VISA symbol.
Can be linked with up to two other Bank of us accounts ensuring you only have to carry the one card.
Option to make balance transfers from existing cards - treated the same way as a purchase with up to 57 days interest free.
Minimum credit limit $500, ]
[- Up to 45 days interest free on purchases
- No application fee
- No late payment fees
- Low interest rate
- $0 annual fee for the first year when you apply for a new card this summer and are approved (then $48 p.a.)
- No fee for additional cardholders
- Serviced by our team in Australia
- Replacement per card $7.50
- Minimum credit limit $500.00
Apple Pay, Android Pay, Google Pay, Samsung Pay, ]
[A special interest rate of 7.90% pa for the first 6 months, then a low 11.50% pa ongoing rate
No annual fee
Up to 55 days interest free on purchases
Credit Limits from $1, 000 to $25, 000
$10 payable when you request a replacement card.
Apple Pay, Android Pay, Google Pay, Samsung Pay
, ]
[A special interest rate of 7.90% pa for the first 6 months, then a low 11.50% pa ongoing rate
No annual fee
Up to 55 days interest free on purchases
Credit Limits from $1, 000 to $25, 000
$10 payable when you request a replacement card.
Apple Pay, Android Pay, Google Pay, Samsung Pay
, ]
[11.95% for purchases
14.80% for cash advances
Up to 52 days interest free on purchases
Enjoy the financial flexibility and convenience of a credit card without the pain of high interest charges.
Additional cardholder option at no extra cost, provided they are over 16 years of age.
Visa Global Customer Assistance with 24 hour worldwide emergency hotline for lost and stolen cards.
Minimum credit limit $500
Card Replacement Fee $10.00, ]
[11.99%p.a. on purchases - Enjoy an amazingly low 11.99% on purchases.
$0 annual fee in first year ($49 thereafter)4
Up to 55 days interest free-No interest on purchases for up to 55 days.3
Minimum Credit Limit $500
Apple Pay, Google Pay, ]
[0% p.a. for 12 month on balance transfer. Applicable within 3 months of card activation, with a minimum Balance Transfer of $1, 000 applies.
Minimum Credit Limit $2, 000
Visa card replacement processing fee: At cost
Android Pay, Google Pay, ]
[A low rate credit card for all your transactions, cash advances and balance transfers.
One fee for up to four (4) cards.
Up to 55 days interest free on purchases.
Minimum credit limit $500
Domestic Credit card replacement fee $20, ]
[LOW ONGOING RATE – lower your interest, not your standards with a low 11.99% p.a. ongoing variable purchase rate
SAVE ON BALANCE TRANSFERS – 0% p.a. for 15 months on balances you transfer, 1% BT fee applies (reverts to cash advance rate).
Annual fee of $99 (waived after your first year if you spend $9, 600 or more on Eligible Transactions annually)
Purchase Rate 11.99% p.a.
Effective 15 May 2024, the ongoing purchase rate will increase to 12.99% p.a.
Minimum Credit Limit $2, 000
Apple Pay, Samsung Pay
, ]
[The convenience of Visa payWave allowing you to make purchases under $100 in seconds by holding your card against the payWave terminal.
A low rate of 12.74% p.a. on retail purchases.
Exclusive Visa Entertainment offers.
Suncorp Clear Options Standard Credit Card Introductory offer of 0% p.a. for 20 months on balance transfers applies. Your total Balance Transfers may not exceed 80% of your Credit Limit. The 0% p.a. interest rate will apply to balances transferred with this offer, and the balance transfer fee, for a period of 20 months. The 20 months promotional period commences when the Balance Transfer is processed, and you must make the Balance Transfer request within the first 3 months from approval to receive this offer. This offer is valid until 28 August 2024.
Apple Pay, Samsung Pay, ]
[$0 annual fee.
4.99% intro rate for the first 5 months.
Low variable interest rate of 12.84% p.a..
$0 fee for additional cards.
Minimum credit limit $1, 000.00
Apple Pay, Google Pay, ]
[* Up to 55 days interest free on purchases.
* No annual fee.
* A low everyday interest rate.
* payWave facility.
* Ability to register this card for Apple Pay , Google Pay & Android Pay.
* Minimum Credit Amount $500
* Visa Card replacement fee $9.00
Apple Pay, Android Pay, Google Pay, Samsung Pay
, ]
[Coles Mastercard and flybuys card in one. Maximise your points when you scan your flybuys barcode before you pay.
Enjoy 0% p.a. on Balance Transfers for 15 months. 1.5% Balance Transfer fee applies. Reverts to Cash Advance rate. Apply for a Low Rate Mastercard by 30 June 2024.
No interest free days apply to Retail Purchases while you have a Balance Transfer.
Collect 1 flybuys point per $2 you spend at Coles Supermarkets.
Superior Security and fraud protection - the fraud management system and Mastercard’s zero liability guarantee give you peace of mind.
Minimum credit limit? $1, 000?, ]
[0% p.a. for 24 months on purchases and balance transfers, plus no annual fee for the first year. 3% balance transfer fee applies. New customers only. Limited time. Other fees, T&Cs apply.
Enjoy no foreign transaction fees on online or overseas purchases.
Plus, complimentary overseas travel insurance.
Android Pay, Google Pay, ]
[0% p.a. Balance Transfer for 20 months from non-HSBC credit cards on application (reverting to the variable cash advance rate), with a 2% balance transfer fee.
A low interest rate of 12.99% p.a. and a $99 annual fee
Up to 55 days interest-free on purchases when you pay the full balance (including any balance transfer, promotional purchases and the 0% p.a. balance transfer offer above) by the due date each month.
Available to new, approved customers who apply for the HSBC Low Rate Credit Card. HSBC may change or end this offer at any time. Please see full terms and conditions below. Other fees and charges apply.
Now available with Apple Pay®. Use your compatible Apple® device to tap and pay with an eligible HSBC credit card.
Minimum credit limit $1, 000
Apple Pay, ]
[Standard interest free period - up to 52 days
A low rate card that earns cash back on purchases.
If you are looking for a low rate Credit Card with the added bonus of cash back rewards, the new bcu Rewards card is the perfect choice for you.
Additional cardholder option at no extra cost, provided they are over 16 years of age.
Visa Global Customer Assistance with 24-hour worldwide emergency hotline for lost or stolen cards.
Minimum credit limit $500
Card Replacement Fee $10.00, ]
[Enjoy the benefits of our lowest rate on everyday purchases.
0% p.a. on Balance Transfers for 28 months on a new NAB Low Rate Card. No Balance Transfer fee applies. Plus, enjoy no annual fee for the first year (usually $59)*
Apply by NAB may vary or end this offer at any time.
You’ll also enjoy the benefits of our lowest ongoing rate on everyday purchases.
Up to 55 days interest free on purchases do not apply with an outstanding balance transfer.
Additional cardholder at no extra cost.
Your choice of a pink or silver card.
Apple Pay, Google Pay, Samsung Pay, ]
[0%p.a. on purchases and balance transfers for 18 months reverting to the cash advance rate thereafter.
No balance transfer fee.
Low interest rate.
Low annual card fee.
Up to 55 days interest-free on purchases.
If you currently have a credit card or store card elsewhere, you can easily transfer the outstanding balance to a Low Rate Visa Card and start saving right away.
Samsung Pay, ]
[Get 0% p.a. for 28 months on balance transfers and $0 Annual Account Fee in First Year with an ANZ Low Rate credit card (no Balance Transfer Fee).
$0 Total Annual Fee for the first year - $58 thereafter
Eligibility criteria, T&Cs, fees and charges apply.
Offer ongoing until further notice.
Low ongoing interest rate of 13.74% p.a. on purchases.
Up to 55 days interest free credit on purchases.
$0 annual fee for the first year - $58 thereafter
View balances, transfer money and make payments simply and easily with the ANZ App.
Apple Pay® and Google Pay let you use your compatible Apple® or Android™ device to tap and pay with an eligible ANZ credit card.
Apple Pay, Android Pay, Google Pay, Samsung Pay, ]
[You get up to $350 cashback when you take out a new Low Rate Credit Card. $50 cashback will be awarded for every month $1000 or more is spent on Eligible purchases for the first seven statement periods from card approval.
Eligibility criteria and T&Cs apply. + $59 annual fee.
Up to 55 days interest free on purchases when you pay the closing balance of your statement in full by the statement due date.
Make the most of the balance transfer by creating a balance transfer repayment plan with SmartPlan., ]
[Introductory fixed rate of 8.99% p.a. (available for the first six months).
No annual fee.
Ongoing interest rate of 13.95% p.a.
Interest free period of up to 44 days on purchases.
Credit limit between $1, 000 and $10, 000.
Convenient balance transfer.
Apple Pay, Google Pay, ]
[0.99% p.a. for 28 months on balance transfers requested at card application. The variable cash advance rate will apply after the promotional period.
Up to 55 days interest free on purchases when you pay the closing balance of your statement in full by the due date.
An additional cardholder at no extra cost.
Apple Pay, Google Pay, Samsung Pay, ]
[0% p.a. for 28 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate.
New cards only, Eligibility criteria and T&Cs apply.
Apply between 7th November 2023 and 31st July 2024.
Up to 55 days interest free on purchases when you pay the closing balance of your statement in full by the due date.
An additional cardholder at no extra cost.
Apple Pay, Android Pay, Google Pay, Samsung Pay, ]
[0.99% p.a. for 28 months on balance transfers requested at card application. The variable cash advance rate will apply after the promotional period.
Up to 55 days interest free on purchases when you pay the closing balance of your statement in full by the due date.
An additional cardholder at no extra cost.
Apple Pay, Google Pay, Samsung Pay, ]
All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product.
By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.
Low rate credit cards are those with below average interest rates. RBA data indicates the average credit card rate is north of 17% p.a.
Low-rate credit cards are typically ‘no frill’ options, normally without rewards programs and with low limits. Some providers offer introductory periods of 0% interest – especially when doing a balance transfer – but this would almost always be temporary.
Low interest credit cards suit those who prefer not (or aren’t able) to pay off their monthly balance in full. For those who are new to the credit card game, or those who are just looking for a no-frills card to store in their wallet, a low-rate option might suitable.
A low rate card works the same as any other credit card. You make purchases up to a certain limit over a period of time (typically 30 days). Then at the end of this period, you receive a credit card bill for all of these purchases.
You have a certain amount of time to make this payment without interest, called the interest free period. This is typically 55 days, but with a low-rate card it could be shorter. Anything you don’t pay within this time begins to accrue interest. By using these low rate products though, you minimise this additional expense.
How to compare low interest rate credit cards
If you are in the market for a low interest card, it’s likely you have decided that the interest rate you will pay is the most important thing for you. This implies you might not pay off your balance in-full every billing period. There are several other features to consider though:
Credit Limit
Low rate cards generally come with lower limits, but there may be significant variation between products. It’s sometimes a good idea to take a card with a lower limit, forgoing a bit of spending power in return for a reduced interest rate.
When combined with a low credit limit, a low-rate card can limit the likelihood of a debt spiral, racking up huge bills with huge interest payments.
Promotional interest rates
Some cards offer a promotional period, where you pay very little or even 0% interest for a set period, normally between 6 and 18 months. If you are tempted by one of these products, you should ensure you also consider the rate that the card reverts to after this period is up.
Balance transfer rates
If you are considering moving your balance from one card to another, the new card may offer a balance transfer rate, which is often very low or even 0%. This rate only applies to debt that you bring over from your previous card, and can be a good way to pay off your debt without interest continuing to add up.
However, this reduced rate only applies for a limited time, so if you don’t pay all of your debts before this deadline, they will revert to whatever interest rate you are paying on the new card. There might also be a fee associated with balance transfers, typically 1-2% of the overall balance.
Cash advance rates
Certain credit card transactions incur your cash advance rate rather than the standard interest rate. This applies when you take out cash, for example, or buy foreign currency. These rates are usually much higher than the standard interest rates, so you should consider both.
Interest free period
With most cards, if you pay your bill within a certain period, zero interest will apply. This period is usually between 40 and 55 days. Choosing a card with a longer interest free period allows you more wriggle room to get everything paid without interest beginning to add up.
Annual fee
It’s also worth considering if the low-rate card has an annual fee. If you want a no-frills card that sits in your wallet for most of the year save for a few big expenses, it’s no use paying hundreds of dollars in annual fees for something you barely use. If you can, also look for a card with low or no annual fees.
Additional features
Typically, the lower the interest rate on a card, the less features it will come with. You still may be able to find low interest rate cards with extra features though, so keep an eye out for options with cashback offers, complimentary insurance or rewards programs.
What are the advantages of a low-rate card?
Lower your interest payments
Using a low rate card means you will spend less on interest in the months you are unable to pay all your bills in time compared to other types of cards.
Pay off existing debts quicker
Transferring existing debts to a lower rate card can be a good way to reduce your interest payments. When using a 0% balance transfer offer, you may be able to eliminate interest completely and get on top of your debts.
What are the disadvantages?
Fewer rewards
Cards with low interest rates normally do not offer the range of features on more expensive cards. You may struggle to find low interest cards with many perks. These perks can include anything from airline points, complimentary travel insurance, cashback, and more. If these features are important to you, it could be worth finding another card.
Higher fees
While the interest you pay may be reduced, the card provider may charge higher annual fees to make up for their reduced income.
Lower limit
Generally, the lower the interest rate on a card, the lower the monthly limit will be. If you expect to make several expensive monthly purchases, you may not be able to find a low rate card that allows you to spend to the extent you need. There are usually penalties for exceeding your limit.
Is a low interest rate credit card a good idea?
The ideal credit card for you will depend on your spending habits. Low rate options are suited for those who do not have the ability to consistently pay their credit card debts on time. However, if you usually make all your repayments before the interest free period is up, your priority may be limiting the fees you pay, which are normally higher for low interest cards. There also may be people who fully utilise the range of features attached to higher rate cards, who ultimately find them cheaper.
At the end of the day, you should work out exactly what expenses you are going to use your credit card for, and then find a product suited to that. You should consider how regularly you will be making payments, whether you will be able to pay your bills on time, estimate how much you will spend monthly and whether you will use your card enough to take advantage of any rewards programs.
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.
You can also use our savings calculator to work out potential savings and possible earnings.
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InfoChoice.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.
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We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.
Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.
Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.
You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear.
For home loans, the base criteria include a $400,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.
*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.
Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.
InfoChoice.com.au is proudly part of the InfoChoice Group, which includes Savings.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.
We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.
The information provided by InfoChoice.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.
Rates and product information should be confirmed with the relevant credit provider. For more information, read InfoChoice.com.au’s Financial Services and Credit Guide (FSCG).
