Low Interest Rate Credit Cards

Save money on your credit card by paying lower interest rates

The lower the interest rate on your credit card, the lower your repayments will be. Learn how to compare low interest rate cards to find the best deals and how to make the most of these offers.

Comparison of Low Interest Rate Credit Cards

Rates last updated June 28th, 2016.

St.George Vertigo Platinum

Balance transfer has been extended to 29 Sep 2016 + new offer of 1% for 12 months on purchases.

June 24th, 2016

Bank of Melbourne Vertigo Visa Credit Card

Purchase offer changed from 0.99% for 4 months to 1% for 12 months, valid until 29 September 2016.

June 24th, 2016

St.George Vertigo Visa

Balance transfer has been extended to 29 September 2016 + 1% for 12 months on purchases.

June 24th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
ME Bank frank Credit Card
A low interest rate on purchases and cash advances with no annual fee charge.
9.99% p.a. $0 p.a. Up to 55 days on purchases 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. Up to 55 days on purchases Go to site More info
Westpac 55 Day Platinum Credit Card
Enjoy platinum benefits offering complimentary insurances, 24/7 concierge, balance transfer offer of 0% p.a. for 16 months with $0 annual fee for the first year.
19.84% p.a. 0% p.a. for 16 months $0 p.a. annual fee for the first year ($90 p.a. thereafter) Up to 55 days on purchases Go to site More info
Coles Low Rate MasterCard
A low rate MasterCard with a competitive rate on purchases and a low annual fee.
9.99% p.a. 0% p.a. for 6 months $49 p.a. Up to 62 days on purchases Go to site More info
NAB Low Rate Credit Card
The NAB Low Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. Also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
Commonwealth Bank Low Rate Credit Card
A $250 limited time cashback offer if you apply by 30 June 2016 and spend $500 on eligible purchases by 31 July 2016 and a low ongoing purchase rate.
13.49% p.a. 5.99% p.a. for 5 months $59 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Visa
A low rate shopping credit card offering a low ongoing rate on purchases plus a low balance transfer offer of 0% p.a. for 18 months.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
NAB Low Fee Card
Get 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $30 p.a. Up to 44 days on purchases Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Take advantage of this exclusive offer and enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 months on purchases.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $30 p.a. Up to 44 days on purchases Go to site More info
St.George Vertigo Platinum
Enjoy platinum card benefits with a long term balance transfer of 0% for 20 months and a low annual fee.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate
Save on your existing credit card interest with 0% for 18 months on balance transfers with a low annual fee and low ongoing purchase rate.
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Up to 55 days on purchases Go to site More info
Commonwealth Bank Low Rate Gold Credit Card
Take advantage of the $250 cash back offer if you apply by 30 June 2016 and spend $500 on eligible purchases by 31 July 2016. A low rate card that comes with up to 55 days interest-free on purchases combined with complimentary international travel insurance.
13.49% p.a. 5.99% p.a. for 5 months $89 p.a. Up to 55 days on purchases Go to site More info
Citi Simplicity Card
Enjoy a interest-free days and a low interest rate on purchases plus enjoy free bottles of wine from Citibank Dining Program. Offer ends on 31 March 2017.
11.99% p.a. for 24 months (reverts to 19.99% p.a.) $0 p.a. Up to 55 days on purchases Go to site More info
Bankwest Breeze Platinum MasterCard
Enjoy Platinum card benefits offering no foreign transaction fees on online and overseas purchases, a cash back promotion and a balance transfer offer of 2.99% p.a. for 9 months.
12.99% p.a. 2.99% p.a. for 9 months $99 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Visa
A low rate credit card with 0% for 18 months on balance transfers and low ongoing purchase rate from BankSA.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
Citi Clear Platinum Card
Enjoy 0% p.a. for 9 months interest-free purchasing and 0% p.a. for 9 months on balance transfers.
0% p.a. for 9 months (reverts to 14.99% p.a.) 0% p.a. for 9 months $99 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Platinum
Experience Platinum card benefits with complimentary insurance policies and 24/7 Visa Platinum Concierge Service. Get 0% for 20 months on balance transfers and 1% for 12 months if you apply by 29 September 2016.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Up to 55 days on purchases Go to site More info

You can apply for any card listed here by clicking on the Apply button. This will securely transfer you to the relevant financial institution’s website. There is no fee for applying from this page.

Complete guide to low interest credit cards

What is a low interest rate credit card?

Low interest rate cards have a much lower interest rate for purchases than standard credit cards. The typical range for interest rates on cards in Australia is 15% to 24% per annum, while low rate cards offer rates as low as 10%. Some cards even offer promotional 0% rates on purchases for a fixed period (you can learn more about those in finder’s guide to 0% purchase credit cards).

A low interest rate credit card makes sense if you make regular use of your card and know you won’t be paying off the balance in full each month. If you have a large existing credit card debt and want to pay it off, look for a balance transfer card instead. If you always maintain a zero balance, then a card with extra benefits such as rewards points makes more sense.

What types of low interest credit cards are available?

  • Standard low interest rate. These credit cards typically offer rates below 15% p.a. and have a low annual fee. This type of credit card has all the non-essential features removed to keep charges low.
  • Low interest rate with introductory 0% purchase rate. These cards let you make purchases with 0% interest during the promotional period (typically a few months). After that period, the interest rate will be higher, but if you shop around, the rate is still likely to be better than with a standard card.
  • Low interest rate with balance transfer. These cards let you transfer your existing balance from another credit card (usually with 0% interest on that balance for a fixed period), as well as charging a low rate on purchases.
  • Premium low interest rate. Gold and platinum cards generally offer additional perks such as complimentary travel insurance or concierge services. While many platinum and gold cards charge relatively high interest rates, you can find deals with lower rates.

How much money will I save by applying for a low interest rate credit card?

Even a small difference in interest rates can save you major money. Imagine you have $2,000 on your credit card and you take six months to pay it off. With an interest rate of 12%, you’ll end up paying a total of $70.60. With an interest rate of 20%, that figure jumps to $118.30. And the bigger your expenditure, the bigger the difference gets.

How to compare low interest rate credit cards

There’s more to finding the right low interest rate credit card than just looking at the headline interest rate. Here’s what you should consider:

Interest rates

Credit card interest is typically calculated daily on your existing balance, and charged monthly to your bill on the statement date. The lower the rate, the less overall interest you’ll pay. As well as the rate applying to new purchases and your existing balance, consider the following:

  • Interest free days. If there’s an interest-free period for purchases, interest won’t be calculated on those purchases until after that period expires. However, interest will apply in full if you haven’t paid off the card balance in full at that time. Learn more about how this works in our guide to interest free days.
  • Cash advances. The interest rate for cash advances (whether through an ATM or by transferring money from your card into another account) is usually higher than for purchases. As well, it will generally be applied immediately, without any interest-free period. Avoid using cash advances unless it’s a real emergency.
  • Revert rate. On a balance transfer or 0% purchase offer, the revert rate is the interest rate that will apply after the promotional period expires. Avoid deals where the revert rate is high (if it’s the same as the cash advance rate, that’s a clear warning sign).

Fees and charges

  • Annual fee. Try to find a card with a low annual fee, but don’t make this your sole deciding factor. A $0 annual fee isn’t helpful if the base interest rate on purchases is a lot higher. Annual fees typically range from $0 (for cards with basic features) to $250 or more (for gold and platinum cards).
  • Other fees and charges. Fees may apply for using your card in an ATM; for using the card overseas; or if you overdraw your credit limit. Make sure you’re aware of the relevant charges that apply to your card. If you’re a regular traveller, consider a card with no foreign currency fees.

Pros and cons of a low rate credit card

Pros

  • You’ll pay less interest on purchases, making it easier to manage your credit card debt.
  • You’ll typically be able to take advantage of interest-free periods on purchases.
  • You can often combine low-rate cards with other features such as balance transfers or zero foreign transaction fees.

Cons

  • You’re less likely to receive reward points and other perks.
  • You’ll still need to compare fees and charges to identify the best overall deal for you.
  • You may not qualify if you have a poor credit history.
Was this content helpful to you? No  Yes
American Express Essential Credit Card
American Express Essential Credit Card

Interest rate

14.99

Annual fee

0
More info
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

149
More info
NAB Low Rate Credit Card
NAB Low Rate Credit Card

Interest rate

13.99

Annual fee

59
More info
ANZ First Visa Credit Card - Exclusive Offer
ANZ First Visa Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

30
More info
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54 Responses to Low Interest Rate Credit Cards

  1. Default Gravatar
    Mia | June 21, 2016

    Hi,
    This morning I applied for a St George Vertigo Credit Card. I was approved for credit of $2000 and a balance transfer of $2000 (sorry if I’m incorrect) but does that mean that the total value of this card is $4000?
    Thanks.

    • Staff
      May | June 21, 2016

      Hi Mia,

      Thanks for your question.

      Essentially, when you apply for a credit card, the card institution will give you a credit card limit that you can use – either for purchases, cash advances and even balance transfers. As you mentioned, you were approved for a credit and balance transfer limit of $2,000 for the St. George Vertigo Credit Card, however, this does not imply that you’re given a total of $4,000 credit limit on the card (that you can spend). This means that St. George allows you to transfer a balance (a debt from your old credit card) up to $2,000 to this card. Unlike other card issuers (depending on the type of card), they would only allow you to transfer a total balance up to a percentage of your credit limit, usually 70%-95%.

      I hope this answers your question.

      Cheers,
      May

  2. Default Gravatar
    gina | May 24, 2016

    i just wandering if i could get balance transfers,what could i do? if yet how much interest could i get each month.

    • Staff
      Sharon | May 26, 2016

      Hi Gina, thanks for you inquiry.

      You may check our balance transfer page first to compare credit cards that has this offer. You can check the complete details about a specific product by clicking the product name. This will direct you to the product review page where benefits, features, application requirements and other information that the product has to offer. When you’re done selecting for the right card, you can start the application process by clicking the “Go to site” button that is also available on the upper right side of the review page.

      I hope this helps,

      Sharon

  3. Default Gravatar
    Meaghan | February 11, 2016

    Hi
    Can I call to speak to someone to compare credit card accounts

    • Staff
      Jonathan | February 11, 2016

      Hi Meaghan, thanks for your inquiry!

      You can reach us on 1300 FINDER (346 337) and one of the specialists from our credit cards team will be happy to assist you.

      Cheers,

      Jonathan

  4. Default Gravatar
    Kylie | February 3, 2016

    Hi i am in a situation where i am in need of 2000-5000 to pay for a solicitor as i don’t have the money. I am looking into credit cards that i can either afford by myself as i am on centrelink or one that my partner and i can get together with his income and mine. What would be the best way to go? As we have never applied for one before. Thank you

    • Staff
      Debbie | February 4, 2016

      Hi Kylie,

      Thanks for your question.
      Please note that you’ve come through finder.com.au and as a financial comparison service, we’re unable to recommend any specific product, service or strategy to our users as the ‘best’ option will always depend on the individual’s financial situation and needs.

      Whether you can apply for a credit card will depend on how much you earn per year and what type of Centrelink payments you receive.

      You might need to get in touch with the bank directly to confirm your likelihood of approval before applying.

      I hope this helps.

      Cheers,
      Debbie

  5. Default Gravatar
    | November 19, 2015

    Do you no anyone that will help people on disability pensioner with below average credit score to get a low limit credit card with below average credit score to rebuild my credit rating and give me a second chance

    • Staff
      Jonathan | November 20, 2015

      Hi Rhys, thanks for your inquiry!

      You can compare low income credit cards here which have lower requirements than higher tier credit cards.

      Cheers,

      Jonathan

  6. Default Gravatar
    Shani | August 5, 2015

    I have an existing credit card with a balance of 9000.I am looking to transfer to a new card which has 0% on balance transfers and a low interest rate with 55 days interest free. I can pay the balance off in about 12 months or less

    • Staff
      Jonathan | August 6, 2015

      Hi Shani, thanks for your inquiry!

      Please refer to the this page for how much banks allow you to balance transfer to their credit cards. It is a key point to note no interest-free days will be awarded when you have an outstanding balance, so until your balance transfer debt has been fully cleared you will be unable to utilise this feature. You may like to compare balance transfer credit cards on this page.

      Cheers,

      Jonathan

  7. Default Gravatar
    Majella | July 26, 2015

    Is there a low rate credit card for pensioners?

    • Staff
      Jonathan | July 27, 2015

      Hi Majella, thanks for your inquiry!

      Credit card eligibility for pensioners depends on whether you meet the application requirements. Generally the bank/ lender will request a specific minimum income per year. If your primary form of income is through Centrelink/ pension benefits, contacting the bank before completing the application process to determine whether Centrelink qualifies as a form of income would be ideal.

      Cheers,

      Jonathan

  8. Default Gravatar
    Jenna | June 29, 2015

    I am traveling overseas for 12 months in Oct this year to the USA. I have loan approval for money I really don’t need the full amount of (or the stupidly high interest rate) someone suggested I get a low interest credit card to take with me or emergencies and small purchases?

    Can you suggest a low interest rate card I can use whilst overseas?

    • Staff
      Sally | June 29, 2015

      Hi Jenna,

      Thanks for your question.

      As a financial comparison service, we can’t actually suggest one particular product to our users.

      However, you may want to consider a card with no annual fee, no foreign transaction fees and no currency conversion fees.

      You can compare your options on our comparison page.

      I hope this has helped answer your question.

      Thanks,

      Sally

  9. Default Gravatar
    jlb | June 5, 2015

    I want a low interest credit card for purchase of sewing machine
    I won’t be able to pay back in full for the first few months
    however I endeavour to pay off as quick as possible after 6 months.
    What are some options please

    • Staff
      sally.mcmullen@hiveempire.com | June 5, 2015

      Hi Jlb,

      Thank you for your question.

      If you think you’ll have difficulty paying off your credit card each month, a low interest rate credit card may be of value to you.

      Please visit our Low Interest Rate Credit Cards comparison page here.

      I hope this has answered your question.

      Thanks,

      Sally

  10. Default Gravatar
    Kristy | June 3, 2015

    Hi,

    I am wanting to purchase a caravan for $10,000. I’ve looked into personal loans but am also considering credit card as interest can be lower. What would you suggest on a type of credit card?

Credit Cards Comparison

Rates last updated June 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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
NAB Low Rate Credit Card
The NAB Low Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. Also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 40,000 bonus Qantas Points on eligible spend within 3 months. A balance transfer offer of 0% p.a. for 6 months with access to premium benefits and complimentary insurance.
19.99% p.a. 0% p.a. for 6 months $199 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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