Low Interest Rate of 12.49% p.a. on purchases
$0 Annual Account Fee in First Year, $58 in subsequent years
0% on Balance Transfers for 25 months
Up to 3 Additional Cardholders at no additional cost
3% Foreign Transaction Fee
1.5% Balance Transfer Fee and rate reverts to the high Cash Advance Rate of 20.24% at the end of the offer period
|Category||Low Rate Credit Cards and Balance Transfer Credit Cards|
|Benefits||Reduced First Year Annual Fee|
|Minimum Credit Limit||A$1,000|
|Additional Cardholder Fee||A$0 p.a.|
|Rewards Program||ANZ Rewards|
|Contactless Payments||Apple Pay and Google Pay|
|Rates & Fees|
|Purchase Rate||12.49% p.a.|
|Cash Advance Fee||2%|
|Late Payment Fee||A$20|
|Annual Fee||A$58 p.a.|
|Foreign Transaction Fee||3%|
|Overseas ATM Withdrawal Fee||A$5|
|Interest Free Period||55 days|
|Cash Advance Rate||20.24% p.a.|
|Reduced First Year Annual Fee||A$0|
|Balance Transfer Rates|
|Balance Transfer Period||25 months|
|Balance Transfer Rate||0% p.a.|
|Balance Transfer Fee||1.5%|
|Release date||Aug 2006|
Does not honor commitments, does not apply common sense
I had underpaid a bill by $5 given an honest oversight. I called and they gave full commitment to waive it both the finance and interest charges. Told me they will take care of everything. I paid the outstanding $5 but in the next month's statement, the finance and interest charges were still not waived but instead compounded. Repeated calls always ended with them committing to fix it but they never their commitments. Ended up, I had enough. Cancelled all 4 cards my wife and I had with them. Extremely unprofessional! I have so many credit cards but never such an experience.
They do not even check your credit background!!!!!
I am not happy that ANZ just given my husband a CREDIT CARD that he cannot even afford to pay if he spends them..I just don't understand how can they give a person a credit card especially when he is only a pensioner...Can you honestly answer me ANZ how on earth that you granted a pensioner a credit card?I called ANZ right away and ask them why did they grant my husband a credit card...the person that I was talking to just simple told to me to talk to my husband about it and I did...so we had an argument about it knowing that my husband is a ...hard headed one...I will probably gonna ended up divorcing him after almost 19 years of marriage!!!!That's how disappointed I was!!!.Don't you check someone else's background if they can actually afford to have a credit card?If people cannot afford anything because they haven't got any money,that means that giving them a credit card will help them....NO!!NO!!NO!!!you are just making their lives even harder because credit card is an easy way to waste money...you are not really helping people,especially if they don't have jobs...you are helping them ruining their lives and you know it!!!!
** Pros **
The whole procedure from start to finish with an online application was efficient, fuss-free and confinient for someone with a busy schedule. Didn't need to provide documents or talk to anyone for follow ups.
** Cons **
Over 21% cash advance is pretty steep but I knew that before signing up, so I'm ok with. May be a con for others.
Didn't realise there was a autatoc annual fee charged once the card was activated until I received my first statement. Read documents carefully.
Conscience, speed of procedure and no follow up with any forms/calls.
What initally attracted me to this card is the low interest rate and the fact I am with the bank. It was very easy to apply for (online) and had an immediate answer (well within 60 seconds). The card itself is an ugly plain white, but you do have the option to go online after yo receive the card to change to whatever your heart desires. The card arrived in 2 days after applying, which I thought was lignting fast and was able to use it immediately after phone activation, which itself was very simple and took less than two minutes.
Easy to apply for, low interest rate
im happy with the low interest rate. I was given a credit limit of $4000 which was more than i expected (and wanted) however it doesnt bother me because its only used for emergencies. I can track my credit card payments in my internet banking.
Low interest rate for me who is not a regular credit card user. They have the option of 0% balance transfers for 6 months which i dont need but its a great bonus. I can design my card to whatever print i like,
the annual fee is $58 dollars however the interest rate is smaller saving you more money than having the opposite.
My worst experience with a credit card application.I was given to understand that the limit approved is and would be on the strength of my application.Within a matter of 10 minutes the call centre staff contradict each other.One saying that the max limit is 15K the other saying that it depends on the strength of the application.A third was happy to waive the application fees for their error but the crooks do not tell you that an enquiry is noted on your credit file even when you decide not to go ahead and that enquiry may affect your next credi...t outcome.FALSE ADVERTISING,lies and deception is the name of the game for ANZ. the 0 % Balance transfer combined with the instant approval ad on the internet grabbed my attention The instant approval did not happen and the limit approved came in well short.50 % of approval limits from CBA,Westpac,NAB,St George,AMEX etc as i have dealt with other institutions before
As with my Visa this card was easy to use and so I ended up with a large amount owing and couldn't afford to repay the whole balance. This is where the cards are tricky when you're paying interest every month without really reducing your balance much.
Much lower interest rate than many other cards. Is a good addition to having a Visa so you have more payment options. Bigger limit on this card than my Visa so more savings on interest by using this instead.
Annual fee was a bit dearer than on my Visa but still excellent value when you consider the lower annual interest rate.
A good card however one may require a second non-amex card. The annual fee is also reasonable for a gold card. Can use it world wide.
This is a gold card that offers travel insurance for those travelling overseas. This card is great if one is purchasing tickets for overseas travel using it.
American express cards are not accepted by a number of merchants which limits one option to earn maximum point from it. Some even charge higher merchant fees. This means that one has to have another card alongside one's amex just in case amex isn't accepted.
The card is fine, I would like to see a replacement card automatically sent out every 6 months as my card gets a flogging.
Every time i have a need to use it the motel or shop will accept it. On occasion i have been overdrawn and i have still been able make a purchase. I always fix my bill ASAP (Dont you?)
I like this card only because it has a competitave interest rate and its easy to manage online.
I have had AMEX and i would not recomend this card at all. The service is poor and not every outlet will accept AMEX, this helped to sway me to ANZ.
I have used may cards in the past and this one is as good as any, better than most.
I have had this card for 4 months now, and although the ANZ customer service is great, something has got to be done about the cash advance interest rate, and the annual fee.
Although cash advance interest rates are high, you would think that for a "Low Rate Mastercard" the interest rate for cash advances would be closer to 16%.
The annual fee also needs to come down as well, its not in line with the words "Low Rate Mastercard."
I believe that if you have the money to pay for the annual fee, this card is great for those that are just ...starting out, or getting together their credit history. I personally have opened up a Progress Saver with ANZ and I put $10 away each fortnight just so that I have some money for the Annual Fee when it's due on 21st September. The interest rate is currently 11.99% on purchases, and for ANZ that is amazing just look at the interest rates on their other cards and be horrified The interest rate is 19.99% on cash advances, which I think is a little too high. The annual fee is $58 - again there are some credit cards that have annual fee's that won't leave you much change from $100, ANZ need to work on their interest rates.
the card is not a bad one if you intend to use it for purchases, the rate is not too high compared to other cards, but like so many others beware of the holiday period ending once you've done a balance transfer. for even a small amount you'd pay an arm and a leg, never actually paying off more than the minimum each month.
good if you plan to keep the used balance to a minimum. or pay off very soon for a balance transfer transaction to another card
interest is surreal after the balance transfer period has run out
I think that this card is a fantastic way to pay off another credit card - you simply transfer it's balance over to this card and secure the 0% interest rate. You then work like a mad person to pay it off before the actual interest kicks in. It was extremely easy to apply (online) and I simply dropped into my local ANZ branch to pick up the card.
0% interest rates on balance transfers, very easy to apply online and good customer service
They gave me $2,000 more credit than I wanted, which I thought was a little bit too cheeky
So so. Wouldn't have bothered had I known about the annual card fee being treated as a 'Purchase' and interest would have been applicable from day dot but live and learn.
0% balance transfer for 6 months. Low rate even for b/t's after the 6 months.
ANZ charge the annual card fee on the first statement cycle and treat it as a purchase thereby incurring interest immediately. POOR, very poor. Only ended up costing a few $$$ more over the 6 months but that's the first bank ever to do that to me.
if you are existing an ANZ customer and like to manage the account online + stick with ANZ. fullly recommended to use this card.
however,if you are looking for lower rate and lower annual fees. this is not the best one. u definitely can able to find another to replace it.
it's easy to manage the account especially can do it online.
annual fees and interest rate is not the lower one.
able to find a better deal from HSBC.
I really liked this card and thought that the interest rate was very competitive, they are really helpful with the customer service I just wish that you could use it at more tellers for cash advances cause we all need to get some help sometimes. Great for an emergency and a low annual fee. Pretty good in my books!
The online approval was great. It only took about a minute for them to tell me I was approved I thought that was terrific normally you have to wait ages.
Its ugly which dissapoints me I wish they would make it look great with some new funky designs.
Questions & Answers
Are there overseas transaction fees on purchases with this card?
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