ANZ Low Rate Credit Card – Balance Transfer Offer

Information verified correct on June 1st, 2016
ANZ Low Rate Find out more Go to site

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  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>
Pros
  • At the end of the balance transfer period, any balances you transferred will be charged at the low purchase rate
  • Affordable annual fee and low interest rate on purchases
  • Minimum income to apply for the card is only [field id="41" field="cc_product_min_income" decorator="money"]. You still need a good credit history to qualify for approval
Cons
  • No rewards program
  • No additional perks like travel insurance or purchase protection
Overall

If you don't repay your credit card each month, and carry a balance, this is a good candidate for a balance transfer. The major benefit of this card is the fact that it reverts to the standard balance transfer rate, as opposed to the cash advance rate like many other cards. Excellent low cost credit card in the Australian market

Pay less interest on purchases and repay your debt faster with a 0% p.a. for 18 months balance transfer offer

Get 0% p.a. for 18 months on any store card, charge card or credit card debt you transfer to the ANZ Low Rate Credit Card when you apply for the account (3% balance transfer fee applies). The card also features a low ongoing purchase rate and a low annual fee. At the end of the balance transfer period, the rate will revert to the standard balance transfer annual percentage rate of 13.49% p.a.

Product NameANZ Low Rate
Balance transfer rate (p.a.)0% p.a. for 18 months with 3% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (13.49% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)13.49% p.a.
Annual fee$58 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Minimum Monthly Repayment2%
Minimum Income$15,000
Card TypeMasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$15,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Annual Fee$58 p.a.
Minimum Repayment2%
Late Payment Fee$20
Over Limit Fee$20
Cash Advance FeeThe greater of 2% of the cash advance amount or a minimum of $0
Overseas Cash Advance FeeThe greater of 2% of cash advance amount or a minimum of $4.00
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (MC)3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders3
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • After the balance transfer period, the interest rate will revert to the standard balance transfer rate of interest not the cash advance rate of interest.
  • A low balance transfer of 0% p.a. for the first 18 months gives you opportunity to get ahead with repayments on your card.
Cons
  • This is a basic card that offers none of the perks like travel insurance or a rewards program.
  • There is a 3% p.a. balance transfer fee.

ANZ Low Rate Credit Card review

The ANZ Low Rate Credit Card is a basic credit product. It has a low purchase rate of 13.49% p.a. interest and a 0% p.a. balance transfer offer

The ANZ Low Rate Credit Card is a great product if you’re looking for a credit card that costs little to own, and you don’t care for the additional features and benefits like insurance, rewards or points. Our ANZ Low Rate Credit Card review gives you all the information you need to apply for this product and use it effectively.

Benefits of the ANZ Low Rate Credit Card

  • 0% p.a. for 18 months on balance transfers
    • 0% p.a. for 18 months. Apply for the ANZ Low Rate Credit Card, and get interest-free for 18 months on any card debt you transfer to the card (3% balance transfer fee applies). You can bring non-ANZ credit card, store card or charge card debt to the ANZ Low Rate Credit Card under a balance transfer promotion.
    • At the time of approval. To get the 0% p.a. for 18 months deal, you have to request the balance transfer when you apply for the credit card, or when you activate the credit card — not after. The 18 month promotional period starts from when you’re approved for the ANZ Low Rate Credit Card.
    • Revert rate. At the end of the balance transfer period, anything you haven’t paid back that was transferred to the card under a balance transfer promotion will be charged at the standard balance transfer annual percentage rate of 13.49% p.a.
  • Transfer 95% of the approved credit limit.You can use up to 95% of your credit limit towards a balance transfer. For example, if you’re approved for an ANZ Low Rate Credit Card with a $5,000 credit limit, you can transfer $4,750 from a number of credit cards, charge cards and store cards.
  • Low ongoing purchase rate
    • Pay less on purchases. Low rate credit cards typically feature a low ongoing purchase rate of interest. The ANZ Low Rate Credit Card has a purchase rate of interest of 13.49% p.a. Compared to other credit cards, this is one of the lowest ongoing purchase rates of interest.
    • Up to 55 days interest-free. Up to 55 days interest-free on purchases made with the ANZ Low Rate Credit Card. This feature allows you to use the card for your day to day spending — paying bills and buying groceries for example — and settle the account at the end of the month without incurring any additional costs.
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Features of the ANZ Low Rate Credit Card

  • Annual fee. A competitive annual fee of $58
  • Low purchase rate. A variable rate of 13.49% p.a. on purchases means that you save money on interest fees each month.
  • Get 0% p.a. for 18 months on balance transfers. Transfer a balance from a non-ANZ store card, charge card or credit card and get interest-free for the first 18 months (3% balance transfer fee applies. At the end of the balance transfer period any unpaid balance from a balance transfer promotion will be charged at the standard balance transfer annual percentage rate of 13.49% p.a.
  • Interest-free days. Up to 55 interest-free days if you pay back your balance in full each month.
  • ANZ Falcon. ANZ offers a 24/7 security service that helps protect customers from fraud by monitoring transactions and sending immediate alerts in the event of suspicious activity.
  • Additional cardholders. Add up to 3 additional cardholders to the account for $0.
  • ANZ fraud money-back guarantee. ANZ have a money-back guarantee on all losses that result from unauthorised or fraudulent transactions on the account. MasterCard have a Zero Liability Guarantee offering full reimbursement if you’re a victim of fraud. ANZ also offers customer service 24 hours a day to further ensure protection.
  • MasterCard card. Access the worldwide MasterCard payment network — this card works in millions of places around the world.
  • MasterCard Paypass. Lets you tap and go for purchases under $100. Just press your card against the Paypass terminal and you’re good to go.
  • MasterCard benefits. Get access to Priceless Cities if you’re a MasterCard card holder. This entitles you to a number of complimentary gifts and experiences at merchants across Sydney.

How to apply for the ANZ Low Rate Credit Card

If you’d like to apply for the ANZ Low Rate Credit Card, you can start the process by filling out an online application form. The following eligibility requirements apply:

Eligibility criteria:

All ANZ credit card applicants are subject to basic credit screening, and in order to be approved all applicants must also:

  • Be over 18 years of age.
  • Be in good credit standing.
  • Be a permanent Australian resident or a temporary resident holding a 457 working visa provided the visa has at least 9 months remaining.
  • Be earning a minimum annual income of $15,000

Required documents:

The online portion of the application takes approximately 10-15 minutes to complete. You will need the following information to complete your application:

  • An Australian driver’s licence.
  • Your employer’s address and if you are self-employed, you will need your accountant’s name and contact number.
  • Details of income, assets and liabilities.
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612 Responses to ANZ Low Rate Credit Card – Balance Transfer Offer

  1. Default Gravatar
    Jun | March 12, 2016

    I have received a DSP pension
    I have $996 per two week.
    About 23000 per annual.
    Can I apply a lower rate credit card for $1000 credit?

    • Staff
      Jonathan | March 14, 2016

      Hi Jun, thanks for your inquiry!

      An annual pension benefit of $23,000 can qualify you to apply for a credit card. For a list of banks who accept pension benefits for applications please refer to this guide.

      Cheers,

      Jonathan

  2. Default Gravatar
    Tristan | February 3, 2016

    Is the 18months interest-free only for new customers or existing

    • Staff
      Debbie | February 4, 2016

      Hi Tristan,

      Thank you for your inquiry.

      The balance transfer offer of 18 months applies to new approved customers only and not available to any balances transferred from an existing ANZ account.

      For a comparison of other credit cards that offer balance transfers, please refer to this page.

      I hope this helps.

      Cheers,
      Debbie

  3. Default Gravatar
    peter | December 3, 2015

    hi if i get $800 cash advance and i will pay it back in few days do i still need to pay my other non cash advance purchase to avoid high interest, i have -$1000 on my credit card i took $800 cash advance and pay it back, do i still need to pay that -1000 to avoid higher interest?

    • Staff
      Jonathan | December 4, 2015

      Hi Peter, thanks for your inquiry!

      Non cash advance purchases will be charged at the purchase rate and not the cash advance rate. If you have cleared your previous months balance then you will be eligible for 55 interest-free days with the ANZ Low Rate credit card. This will allow you to avoid interest on your purchases. You can learn more about interest-free days on this page.

      Cheers,

      Jonathan

  4. Default Gravatar
    Janet | December 2, 2015

    I have already paid off a balance transfer and my credit card with you has a nil balance – can I do a further balance transfer and if so how do I go about it? Thank you

    • Staff
      Jonathan | December 2, 2015

      Hi Janet, thanks for your inquiry!

      If you have used your balance transfer promotion on your current ANZ Low Rate credit card, unfortunately you are unable to request another transfer to this card. You can compare more balance transfer offers here.

      Cheers,

      Jonathan

  5. Default Gravatar
    Mike | November 26, 2015

    Hi – Is the ‘$15 K minimum income’ a nett or gross figure?

    • Staff
      Sally | November 27, 2015

      Hi Mike,

      Thanks for your question.

      The minimum income for the ANZ Low Rate card is gross $15,000 p.a.

      Cheers,

      Sally

  6. Default Gravatar
    jean | November 17, 2015

    Hi,

    I’m a Singaporean and can I apply for this card?

    • Staff
      Sally | November 18, 2015

      Hi Jean,

      Thanks for your question.

      Applicants must be permanent Australian residents.

      Cheers,

      Sally

  7. Default Gravatar
    Kim | November 5, 2015

    I apply for a credit card and was approved for $1000 when can I apply for $15,000 as that’s what I really wanted

    • Staff
      Sharon | November 5, 2015

      Hi Kim,

      Thank you for your comment.

      The available credit limit on the credit card will depend on the lender’s criteria. As a result it would be best to contact ANZ before completing an application to better assess your personal needs.

      Cheers,

      Sharon

  8. Default Gravatar
    Chuber | October 9, 2015

    Hi,

    Just need to know if my partner and I can do two balance transfer but onto one card? in total I think the amount is $5,300?

    • Staff
      Jonathan | October 13, 2015

      Hi Chuber, thanks for your inquiry!

      If you and your partner are separate cardholders then you will be unable to balance transfer both amounts onto one card. If you are joint-account holders then you may be able to complete this transaction. More information is available on this page.

      Cheers,

      Jonathan

  9. Default Gravatar
    Chuber | October 8, 2015

    Hi,

    I am currently with commbank for my credit card and my partner has the same card but it is a separate account. Can we combine the total of what we owe to apply for the one credit card account but have 2 cards for it?
    Thanks so much.

    • Staff
      Jonathan | October 13, 2015

      Hi Chuber, thanks for your inquiry!

      Unfortunately balance transfers from two separate accounts are not accepted.

      Cheers,

      Jonathan

  10. Default Gravatar
    James | September 14, 2015

    Can I apply for credit card then do a balance transfer after I receive the card or do i need to do it at the time of applying for the card?

    • Staff
      Sally | September 14, 2015

      Hi James,

      Thank you for your question.

      As mentioned in the terms and conditions on the ANZ website, to take advantage of the balance transfer offer, you’ll need to apply for the balance transfer at the time of application.

      I hope this has helped answer your question.

      Thanks,

      Sally

Credit Cards Comparison

Rates last updated June 1st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 0.99% p.a. for 4 months with a low annual fee.
0.99% p.a. for 4 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Frequent Flyer Black
Earn up to 75,000 bonus Qantas Points when you spend $2,500 within the first three months and 1.5 points per $1 spent. Get complimentary airport lounge access, 24/7 concierge with $0 annual fee in the first year.
19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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