GE Money Low Rate MasterCard

Features of the GE Money Low Rate MasterCard

The GE Money Low Rate MasterCard seems to offer all the right things; low rates, low annual fee, interest free days and a rewards program. But is it really as competitive as their clever advertising makes it seem?

Here’s what the GE Money Low Rate MasterCard is offering…

• Low interest rate of 14.99% on purchases (cash advances 20.49% p.a.)
• 4.99% p.a. interest for 6 months on balance transfers
• Up to 55 days interest free^
• Accepted at over 22 million locations worldwide
• A low annual fee of $58
• Account Protection Insurance
• On-line account management
• Access to the instant benefit program GE Money Advantages
• Easy online application with 60 second response time

Is the GE Money Low Rate MasterCard right for me?

There are some instances where the GE Money Low Rate MasterCard can be good for you. These include situations where you:

• Have credit cards that are charging you more than 15.49% p.a. interest on your current balance.
• Have a card that doesn’t have interest free days and is still charging you an annual fee.
• Are able to pay off most, or all, of the balance of your credit card bills.

In all honesty, if you’re the type of customer who regularly repays the outstanding balance on your credit card each month, then you could probably benefit from comparing several other offers available that include access to interest free days, lower annual fees and more extensive rewards programs.

Unfortunately, if you know you’re going to carry a balance on your credit card from month to month, then it may be wise to consider shopping around for a lower interest rate on your outstanding balance than GE Money Low Rate MasterCard is able to offer you.

This is equally true if you’re considering rolling your high rate card balances over to GE Money to take advantage of their 4.99% for six months on balance transfers offer. While this might sound low, there are definitely better options available on the Australian market that can help you save far more money.

The GE Money Low Rate MasterCard is frankly one of the less competitive low interest offers available in Australia. You’d do well to spend a little time comparing other low interest offers to find one that is right for you.

For a comparison of the best low rate cards on offer, see the low interest credit cards.

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0