ANZ Low Rate MasterCard – Low Interest Offer
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 $20,000. 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 the low balance transfer rate reverts to the purchase rate, as opposed to the cash advance rate like many other cards. Excellent low cost credit card in the Australian market
Take advantage of the latest promotion from ANZ!
With ANZ, you’ll enjoy a low interest rate of 0% p.a. for 3 months (reverts to 13.24% p.a.) on purchases with their Low Rate Mastercard .
You will have peace of mind knowing that ANZ’s ‘Secure Falcon’ will keep your transactions online and offline credit card secure, with 24/7 security monitoring to flag any suspicious card transactions.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
0% p.a. for 3 months |
|---|---|---|
| Interest Rate on Purchases | |
0% p.a. for 3 months (reverts to 13.24% p.a.) |
| Annual Fee | |
$58 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.49% p.a. |
| Card Type | |
Standard |
| Minimum Income Requirement | |
$15,000 p.a. |
| Credit Card Type | |
MasterCard |
| Rewards Program | |
No |
Key Features for the ANZ Low Rate MasterCard:
As with every credit card, this one has features too. See what you get by switching:
- Low interest rate of
0% p.a. for 3 months (reverts to 13.24% p.a.) on purchases. - Enjoy up to 55 days of interest free credit on your new purchases.
- The ANZ Low Rate MasterCard is affordable with a low $58 annual fee.
- Add up to 3 additional credit card holders at no extra cost
- Online shopping guarantee
- Since you deal with MasterCard your card will be accepted at over 24 million locations worldwide.
- MasterCard applause – be entertained with exclusive tickets to theatre, dance, musicals and sporting events.
- MasterCard Travel Exclusives – special offers and great deals, simply for being a MasterCard cardholder.
- MasterCard Global Service – putting you in touch with a representative – 24 hours a day, 365 days a year.
- ANZ Falcon – provides advanced around the clock monitoring for suspicious transactions
- Minimum Income of $15,000
And for a limited time:
If you switch before 13th March 2012, from a non-ANZ credit card, store card, etc. to the ANZ Low Rate MasterCard you get to take advantage of a very low 0% p.a. for 3 months (reverts to 13.24% p.a.) interest rate.
Even with a higher debt, if used smartly you can really take advantage of this current offer. If you choose to stick with your existing credit card, then chances are that you are paying through the nose on interest. Most cards charge you up to 20% and more unless you already have a balance transfer card of some sorts.
The application should take around ten to fifteen minutes to complete, and once you have submitted your application you will receive a response within sixty seconds. An approval will be an approval in principle, meaning the decision is based on the information you have submitted, which may require subsequent verification. Your identity will certainly require verification, and this must be done in person at a branch of the ANZ.
Read the official terms and conditions
| Minimum Income | $15,000 | Minimum Age | 18 years of age |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $1,000 | Max Credit Limit | $15,000 |
| Annual Fee | $58 | Balance Transfer Fee | |
| Minimum Repayment | 2% | Interest Charged From | Purchase Date |
| Late Payment Fee | $20 | Over Limit Fee | $0 |
| Overseas Emergency Replacement | $0 | Overseas ATM Balance check | $0 |
| Overseas ATM Withdrawal | $4 | Foreign Currency Conversion Fee |
What is the balance transfer rate after 12 months
Hi Guy
Thanks for your comment.
After the balance transfer period, with the ANZ Low Rate MasterCard the balance transferred will then accrue interest charges at the purchase rate.
Cheers
Jeremy
I am an Aussie citizen and permanent resident but have a UK credit card debt that I am paying off. Is it possible to transfer this balance to this card?
What is the credit card limit on the card?
Does transferring car loan debt qualify for 2.9% rate for 12 months?
What interest rate of either standard rate (13.49%) or cash advance rate (21.74%) will be reversed to after the balance transfer offer is over (12 months) and I still have transferred debt leftover?
Hi Guy
Thanks for your question
At the end of the balance transfer period, the interest reverts to the standard purchase rate.
Cheers,
Jeremy
Would i be able to transfer an amount of approximately $4000? What factors would contribute to this possibility?
Hi Guy
So long as you meet the credit application criteria and you are approved for a $4,000 credit limit, you should be fine to do a balance transfer to that amount
Cheers
Jeremy
Hi , can you roll in a personal loan ? or does it have to be a CC ?
cheers
Hi Chris
At this point in time, you are unable to balance transfer a personal loan to an ANZ credit card. Citibank credit cards do give you the option of transferring an existing personal loan with their balance transfer offers.
Cheers
Jeremy
Hi Ronald
Thanks for your question
The minimum credit limit is $1,000. The maximum credit limit is $15,000.
Cheers
Jeremy
Hi Trish
Thanks for your question
The credit card balance must be with an Australian financial institution in order for you to do a balance transfer.
Cheers,
Jeremy
Can you transfer funds from this card to a savings account as a balance transfer?
am i able to transfer two existing credit cards to this one new card?
Hi there , I am an existing Anz customer ( mortgage and visa card) and want to transfer a non Anz credit card to take advantage of this offer can I do this ?
Cheers Anthony
Hi Anthony
You are best to make this query direct to ANZ Customer Service.
Cheers
Jeremy
If using balance transfer and purchasing using card, can new purchases take advantage of interest free period and be paid in full or is the balance transfer considered so unless total amount including balance transfer is paid the new purchases will be charged interest?
Hi Amanda
Thanks for your comment!
The terms and conditions outline the following:
“Interest free days do not apply if you do not pay your Closing Balance (which includes any outstanding balance transfers, cash advances, purchases and Promotional Plans) in full by the due date each month. Payments to your account are applied in the order set out in the ANZ Credit Cards Conditions of Use.”
Hope this helps
Cheers
Jeremy
Is there anyway that you can apply for this credit card if you earn under $15,000 p.a??
Hi Vanessa
You will have to ask ANZ directly regarding this.
There are some credit cards which offer a joint application – such as the St.George Gold Low Rate MasterCard.
Cheers,
Jeremy
since its after the 4th of january does the 0% for 3mths on transfers apply??
Hi Cassie
Thanks for your comment – the offer has been extended until the 13th March 2012
Cheers
Jeremy