ANZ Low Rate Credit Card – Rates & Fees

Information verified correct on September 26th, 2016
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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
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Save money with a competitive purchase rate so you can save money on interest payments.

The ANZ Low Rate credit card has a competitive purchase rate of interest of 13.49% p.a. and an annual fee of $58 furthermore, enjoy a 0% p.a. balance transfer offer for 18 months (3% balance transfer fee applies). At the end of the balance transfer period, the rates will revert to the standard balance transfer annual percentage rate of 13.49% p.a.

This is a no-frills credit card, and could be the product you’re looking for if you don’t need all the extra perks that normally come with reward cards.

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.
Standard Balance Transfer Revert Rate (21.74% 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 do not 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 ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (MC)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
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 21.74% p.a., which is the same rate as 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

There are no complimentary benefits or rewards with a low rate credit card. These types of accounts could be ideal for people who don’t want to pay for a card with features they may not end up using. The ANZ Low Rate Credit Card has an annual fee and a competitive purchase rate of interest. You can use this card to securely shop online, and make purchases in millions of places all over the world (where ever the MasterCard symbol is displayed). When you apply for this credit card, you get access to ANZ and MasterCard card holder benefits and account security features.

Benefits of ANZ Low Rate Credit Card

  • Save money on the annual fee and purchase rate. Premium accounts come with high-end features, and high interest rates to match. Low rate credit cards are the cheaper alternative. It offers a competitive annual fee and purchase rate of interest, without the hassle of a rewards program.
  • Ongoing purchase rate. Pay less in interest for purchases on the ANZ Low Rate with its competitive interest rates. The ANZ Low Rate Credit Card has an ongoing interest rate of 13.49% p.a.
  • Competitive annual fee. The ANZ Low Rate Credit Card annual fee is $58 The annual fee is charged in the first statement period, and then on its anniversary. If it’s not paid, it will accrue the purchase rate of interest.
  • 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 rate of 13.49% p.a. The balance transfer promotion activates at the time of application approval.
  • Get up to 55 days interest-free. Pay back your balance in full every statement period, and you could benefit from up to 55 days interest-free.
  • ANZ goMoney. ANZ goMoney is an app for your smartphone or tablet device that lets you pay bills, transfer money and pay contacts via their mobile number.
  • MasterCard PayPass. The ANZ Low Rate lets you tap and go for purchases under $100. If the merchant accepts PayPass, touch your card against the contactless terminal to complete the transaction.
  • ANZ Falcon. ANZ Falcon gives you peace of mind knowing that your account is monitored and protected from suspicious activity, around the clock.
  • MasterCard Zero Liability Guarantee. The MasterCard Zero Liability Guarantee protects your accounts from unauthorised used when you’re shopping online, in-store or over the phone with your ANZ Low Rate Credit Card. Terms and conditions apply.

ANZ Low Rate Credit Card features

  • Annual fee. The ANZ Low Rate Credit Card has an annual fee of $58
  • Interest rates. Save money by paying less interest. Pay 13.49% p.a. when you use the ANZ Low Rate Credit Card to make a purchase (applies after interest-free days period).
  • Interest-free days. Get up to 55 days interest-free. If you pay your account in full each month, you won’t get changed any interest on purchases you’ve made on the card for that statement period.
  • Access to ANZ goMoney. An online account management tool that lets you view your transactions and make payments from your smartphone or tablet device to mobile contacts.
  • Additional cardholders. Add 3 supplementary cards to the account. The additional card holder fee is $0.
  • MasterCard PayPass. There’s no need to enter your PIN for purchases under $100 if the merchant has a contactless terminal.
  • ANZ Falcon. ANZ monitor you account for suspicious transactions.
  • MasterCard Zero Liability Guarantee.  This gives you your money back if you’re the victim of credit card fraud. Terms and conditions apply.

How to apply for the ANZ Low Rate credit card

The online application for the ANZ Low Rate Credit Card takes about 10-15 minutes to complete. ANZ will email you letting you know whether your application has been approved, declined or conditionally approved.

Application requirements

To apply for the ANZ Low Rate Credit Card, you must:

  • Be over 18 years of age
  • Earn more than $15,000 p.a. if you’re a permanent resident
  • Have a good credit rating

Visa-holders can apply

If you’re on a business or working visa, you can apply for the ANZ Low Rate Credit Card. The minimum income requirement is higher if you’re a visa holder.

Visa type:Income requirement:
NZ Citizen Special Category Visa$15,000 p.a.
Student Visa$20,000 p.a. or have $20,000 in an ANZ deposit account.
Working / Business / Investor Visa$50,000 p.a. or have $50,000 in an ANZ deposit account.

Students can apply too

If you’re a domestic full time student, you can apply for this credit card. The minimum income requirement for domestic full time students is $6,000 p.a. You may also be asked to provide proof of your enrollment in full time study.

Required documents:

To make your application progress smoothly, have the following information on hand:

  • Personal details such as driver’s licence, passport, birth certificate etc.
  • Information about your income and details about your employment
  • Details about your assets and your liabilities
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128 Responses to ANZ Low Rate Credit Card – Rates & Fees

  1. Default Gravatar
    Qurban | August 3, 2016

    I have anz low rate credit card. I have lose my income due to my injury at work. I can’t effort to pay 120 each months. How should I claim on anz insurance

    • Staff
      May | August 4, 2016

      Hi Qurban,

      Thanks for your question. Please note that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually ANZ.

      If you wish to claim your credit card repayment insurance, please contact ANZ directly. I’ve sent to your email their contact details.

      Cheers,
      May

  2. Default Gravatar
    Jay | December 18, 2013

    I currently have an ANZ credit card, I assume that I can not transfer from one ANZ credit card to another with a low rate for a fixed term.

  3. Default Gravatar
    Catherine | October 29, 2013

    I already have an ANZ Low Rate Credit card with a low balance that I will pay off shortly. Is it possible to transfer the balance of my Westpac MasterCard to the same card, or will I have to apply for the ANZ Low Rate Credit card again?

    • Staff
      Jacob | October 29, 2013

      Hi Catherine.

      Thanks for your question.

      If you’re already an existing ANZ cardholder, you can still transfer a balance from a non-ANZ credit card. If you would like to receive the promotional rate, you will have to call ANZ and request a balance transfer to your card. If you apply for a balance transfer through your online banking facility, you will receive the annual percentage rate on purchases on the balance transfer amount. When you speak to ANZ, be sure to have your BPAY biller code for the banking institution you wish to transfer from.

      I hope this helps.

  4. Default Gravatar
    Phillip | October 16, 2013

    Hi.

    I am trying to click on the apply now link; however, it comes up as blank and doesn’t go through to the ANZ website, are you able to assist?

    Thank you.

    • Staff
      Jacob | October 16, 2013

      Hi Phillip.

      Thanks for getting in touch with us.

      Which Internet browser are you using? We find that Google Chrome or Firefox work best. Also, if you’re at work, you may be behind a business firewall. If the above doesn’t apply, please send us an email to help@finder.com.au and we can work towards a solution.

  5. Default Gravatar
    Jocelyn | October 12, 2013

    Hi,
    How long is the usual approval time from application?
    Cheers.

    • Staff
      Jacob | October 14, 2013

      Hi Jocelyn.

      Thanks for your question.

      You should know whether you’ve been approved, conditionally approved or declined within a minute of completing your application. You should be notified by email. Once you’ve had a response, it usually takes about a week and a half to two weeks before you get your card in the mail or by picking it up at a branch.

      You can find more information on checking up on your credit card application on this page.

      I hope this helps.

  6. Default Gravatar
    mel | October 10, 2013

    Why are credit card interest rates very high when the rba has set the interest rate at less than half of what credit cards do? This seems grossly unfair. And the annual fee, on top of the high interest rates… tell me what is that fee for, or is it just another way of getting money from consumers??

    • Staff
      Jacob | October 10, 2013

      Hi Mel.

      Thanks for your question.

      There are a number of reasons why credit card rates of interest are so high compared to other forms of finance, but the main reason is because credit cards are an unsecured form of credit. If you default on a payment, the bank has no immediate way of recovering the lost funds. When you compare this against a mortgage, which has rates that are more closely aligned to the official cash rate, you can see that the bank has the option of selling the property to recover the debt if the borrower defaults.

      I hope this helps.

  7. Default Gravatar
    mel | October 10, 2013

    Can you pay the monthly account at a post office

    • Staff
      Jacob | October 10, 2013

      Hi Mel.

      Thanks for your question.

      Yes, this account can be paid at the post office. Please note that there may be a small fee charged when you pay your card this way. You can also pay this account by direct deposit from another transaction or savings account and through BPAY.

      I hope this helps.

  8. Default Gravatar
    Zakir | October 9, 2013

    Hi there, what is the minimum credit limit?

    • Staff
      Jacob | October 9, 2013

      Hi Zakir.

      The minimum credit limit for this card is currently $500.

      Thanks for your question.

  9. Default Gravatar
    Usman | October 8, 2013

    Hi There,

    What is the Maximum Limit of Balance Transfer. say if i have $1,000 balance on another.. how much i can transfer on ANZ.

    Thanks

    • Staff
      Jacob | October 8, 2013

      Hi Usman.

      Thanks for your question.

      ANZ will currently allow you to use up to 95% of your credit limit towards a balance transfer. So if you’re approved for a card with a $10,000 limit, you will be able to transfer up to $9,500 from a non-ANZ credit card, store card or charge card.

      I hope this helps.

  10. Default Gravatar
    geoff | October 4, 2013

    Hello.
    I have a Westpac Ignite MasterCard. I am interested in the offer.

    I’m a workcover recipient. I have not worked for 15 months due to my injury, as such I am not employed but I receive 80% income payments. Can I apply?

    • Staff
      Jacob | October 8, 2013

      Hi Geoff.

      If you’re currently unemployed, but you’re still receiving an income, you can still apply for this card. In the online application, it asks you to select your current situation of employment. If you select unemployed, you will be asked to enter your monthly income and expenses. You will be required to meet the current minimum income requirement for your application to be considered.

      Thanks for your question.

Credit Cards Comparison

Rates last updated September 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 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

* 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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