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ANZ Low Rate
Pros
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 30 months with no Balance Transfer Fee
Up to 3 Additional Cardholders at no additional cost
Cons
3% Foreign Transaction Fee
Details
| Category | Low Rate Credit Cards and Balance Transfer Credit Cards |
|---|---|
| Card Type | Visa |
| Benefits | Reduced First Year Annual Fee |
| Minimum Credit Limit | $1,000 |
| Minimum Income | $15,000 |
| Additional Cardholders | 3 |
| Additional Cardholder Fee | $0 p.a. |
| Minimum Repayments | 2% |
| Contactless Payments | Apple Pay and Google Pay |
| Rates & Fees | |
| Purchase Rate | 12.49% p.a. |
| Cash Advance Fee | 2% |
| Late Payment Fee | $20 |
| Annual Fee | $58 p.a. |
| Foreign Transaction Fee | 3% |
| Overseas ATM Withdrawal Fee | $5 |
| Interest Free Period | 55 days |
| Cash Advance Rate | 20.24% p.a. |
| Introductory Offers | |
| Reduced First Year Annual Fee | $0 |
| Balance Transfer Rates | |
| Balance Transfer Period | 30 months |
| Balance Transfer Rate | 0% p.a. |
| Balance Transfer Fee | 0% |
| Release date | Aug 2006 |
Reviews
Great Card with a low-interest rate on purchases
I rely on this card for months when I am struggling, as I do not always pay my card in full at the end of every month the fact that it is the low-interest rate on purchases, gives me the reassurance that I made the right choice, other features are usual
- 17 reviews
- 16 likes
Best catd
This is the best card I have seen so far low interest rate dont pisg too much if you miss a payment and give some time to catch up which is good sometimes when you are struggling
Not much effect for credit rating very good card actually
Low interest
No fees at all
Waives annual fee some times
Very very good best card of all
The reviewer stated that an incentive was offered for this review
- 6 reviews
- 1 like
Good basic card, with easy online access
I've had this card for years, and have found it to be a very good basic credit card. There are no bells and whistles, but the interest rate is reasonable, and you have access to control it online. ANZ as a bank are generally easy to deal with, and I've found that they're quick to fix any problems. Easy to read statement, and all fees and charges are noted in writing. The only thing I didn't like about the credit card itself was the fact that it had an annual fee attached to the account. Other than that, easy and simple credit card that does the job it's meant to.
The reviewer stated that an incentive was offered for this review
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- 15 reviews
- 12 likes
Excellent for the elderly
Find this card easy to use online I have never had any trouble with the bank & the low rate suits us as we are pensioners & having this card for our pension to go in makes it easy to do our banking on line
The reviewer stated that an incentive was offered for this review
- 5 reviews
- 1 like
Basic No Frills
Great easy to use credit card. Basic card without lots of extras, which helps to just use it when needed for back up and emergency’s. Low rate and easy to understand fees
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- 3 reviews
fair enough
My mastercard was changed to this visa by my bank (Pain in the a...) but the rate is lower, no frills, no problems. My best advice: don't get a credit card! Get a temporary overdraft facility.
- 3 reviews
OK
Its a low rate credit card ,good for those who make a big purchase and pay it off over time
- 129 reviews
- 12 likes
Good
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.
- 2 reviews
Good
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.
Find out how ANZ Low Rate compares to other Low Rate Credit Cards
Know better, choose better.
Good
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 ...
Read morestarting 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.
- 51 reviews
- 6 likes
Good
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
Questions & Answers
Are there overseas transaction fees on purchases with this card?
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