American Express Low Rate Credit Card

American Express Low Rate Credit Card keeps your costs to a minimum with $0 annual fee and a purchase interest rate of 8.99% p.a.

With an annual fee of $0 for life and the ongoing purchase interest rate is a mere 8.99% p.a. this card could be a valuable no-frills alternative for some cardholders. By taking advantage of up to 55 interest-free days on purchases, customers can also ensure that their total interest on purchases is reduced to an absolute minimum. This card also offers perks for families, providing up to 4 additional cards at no extra cost.

Product NameAmerican Express Low Rate Credit Card
Balance transfer rate (p.a.)0% p.a. for 12 months with 1% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (8.99% p.a.)
Balance Transfer Limit70% of available credit limit
Maximum Balance Transfer Amount$10,000
Purchase rate (p.a.)8.99% p.a.
Annual fee$0 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
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
Card TypeAmerican Express
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$50,000
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Annual fee$0 p.a.
Minimum Monthly Repayment2.5% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders4

Pros

  • Competitively low purchase rate of 8.99%
  • $0 annual fee for life
  • Up to 4 complimentary additional cardholders
  • Complimentary Refund and Purchase Protection Insurance
  • Online Fraud Protection Guarantee

Cons

  • A 1% balance transfer fee applies to any balances transferred
  • A relatively large $30 late payment fee applies if you miss your minimum repayment

Benefits of using an American Express Low Rate Credit Card

This card offers several benefits to suit cost-conscious customers. Some of the perks you can look forward to include:

  • No annual fee. $0 annual fees mean customers can enjoy the benefits of the card without any significant costs.
  • Low purchase rate. The ongoing purchase rate on this card is a competitive 8.99% p.a.
  • Balance transfer. This card offers an introductory rate of 0% p.a. for the first 12 months on balance transfers. A one-time $1 balance transfer fee applies.
  • Interest-free days. If cardholders pay their balance in full, they can take advantage of up to 55 interest-free days on purchases.
  • Purchase protection. Shopping becomes a stress-free experience with refund protection, purchase protection and an online fraud protection guarantee.
  • Customer care support. The card comes with 24/7 customer care support which allows customers to resolve any issue instantly.

Features of American Express Low Rate Credit Card

The main features of this card are:

  • Additional cardholders. Up to 4 additional cards can be issued on a single account without any extra cost, allowing households to manage their expenses under one account.
  • AMEX contactless technology. Customers can use contactless technology to make purchases of up to $100 without any need for signature and pin.
  • Special offers. AMEX also provides a guide to special offers, hidden hot spots and more.

How to apply for the American Express Low Rate Credit Card

Complete an online application form to start the online application process. It takes about ten to fifteen minutes to complete. Once you’ve finished the application, you should have a response from American Express within a minute or two. Before you begin the application process, make sure you meet the following eligibility requirements:

Eligibility criteria

  • Applicants must be over 18.
  • Applicants must be a permanent Australian resident, citizen or holder of a currency Business Long Stay 457 Visa.
  • Earn more than $50,000 (household pre-tax annual income)
  • Applicants must have a good credit rating.

Required documents

To speed up the application process, make sure to have the following information handy:

  • Personal details including drivers licence number if you have it
  • Details of assets and liabilities
  • Have recent payslips handy or most recent tax return and account’s details if you’re self-employed

The American Express Low Rate Credit Card can help customers keep their overhead credit cards costs to a bare minimum. With no annual fee, a low purchase rate and up to 55 interest-free days plus purchase protection, this card could be of benefit if used properly. As there are many low rate cards available on the market though, potential cardholders should first compare their options to find the card that works best for them.

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14 Responses

  1. Default Gravatar
    WarrenNovember 3, 2015

    Hi there, I am waiting a card approval, I sent your Valerie the contact details of my accountant and am surprised I have not heard back from AMEX. My intention was to use it for XMAS holiday to Europe but the delay will make it very difficult for ticketing.

    • finder Customer Care
      SallyNovember 4, 2015Staff

      Hi Warren,

      Thanks for your question.

      Just to confirm, you have come through to finder.com.au, not American Express. As such, we’re unable to confirm your card approval.

      You’ll need to get in touch with American Express directly to confirm the status of your application.

      I’ve emailed you a link to AMEX’s contact details for your convenience. I hope this has helped.

      Cheers,

      Sally

  2. Default Gravatar
    MarkApril 4, 2015

    will the low rate credit card continue with the offers of 11.99, no annual fee and 55 days interest free continue for the life of the card (obviously interest rates can change) or is it a special offer that will expire after the first 6 or 12 months?

    • finder Customer Care
      JonathanApril 7, 2015Staff

      Hi Mark, thanks for getting in touch with us!

      The purchase rate for the life of the card is 11.99% p.a. with no annual fee for the entire time the card is held. The balance transfer rate is at a promotional rate of 0.99% p.a. for 6 months, reverting to the purchase rate of 11.99% p.a.

      Cheers.

      Jonathan

  3. Default Gravatar
    AlfonsoJanuary 21, 2015

    Hi Guys,

    I hope all is well.

    I am currently studying a Masters degree and also have a part time job. I have an annual income of around $75k. However, I am not an Australian resident or citizen or on a working visa. Am I still eligible?

    I look forward to your response.

    Alfonso

    • finder Customer Care
      JonathanJanuary 22, 2015Staff

      Hi Alfonso,

      Thanks for your inquiry,

      Unfortunately to be eligible the American Express application requirements need the applicant to be either a permanent Australian resident, citizen or holder of a currency Business Long Stay 457 Visa.

      I hope this has helped.

      Cheers,

      Jonathan

  4. Default Gravatar
    M.December 13, 2014

    How do I sign up for the 1.99% interest rate on my existing card? I have the RSVP code etc.?

    • finder Customer Care
      ElizabethDecember 15, 2014Staff

      Hi M. Wallace,

      Thanks for your question.

      As this offer applies to existing cardholders you may need to activate the offer via your online account or directly through the American Express website. We don’t have any details of the offer, so you might want to check the details outlined in the offer letter or get in contact with American Express directly.

      I hope this has helped.

      Thanks,

      Elizabeth

  5. Default Gravatar
    GemmaOctober 30, 2014

    hello , my name is Gemma and I recently applied for your low rate CREDIT CARD… I am thinking off with drawing my application but I am struggling to find the correct information to do this,,, could I please get some advice on this… regards, Gemma

    • finder Customer Care
      ElizabethOctober 30, 2014Staff

      Hi Gemma,

      Thanks for your question.

      You’ll need to get in contact with American Express directly in order to discuss your application. I’ve emailed you a link with their contact details.

      I hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    SianoSeptember 23, 2014

    Hi, I just like to check if American Express Low Rate Credit Card is Transparent or just plain white? Thanks.

    • finder Customer Care
      ShirleySeptember 26, 2014Staff

      Hi Siano,

      Thanks for your question – the card is plain white.

      Cheers,
      Shirley

  7. Default Gravatar
    IanAugust 19, 2014

    Can I transfer my present Platinum reserve credit card to this card

    • finder Customer Care
      ShirleyAugust 20, 2014Staff

      Hi Ian,

      Thanks for your question.

      You may be to transfer your present card to this card. Please speak to the customer service centre at AMEX and they will advise on the steps.

      They could ask you to submit an internal transfer, or to submit a new application. Please note that an eligibility criteria applies for new applications.

      All the best,
      Shirley

Credit Cards Comparison

Rates last updated October 21st, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
Qantas Premier Everyday
19.99% p.a.
4.9% p.a. for 24 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Take advantage of up to 40,000 bonus Qantas Points, a $0 first year annual fee plus complimentary overseas travel insurance.
Westpac Low Rate Card
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
ANZ Low Rate
12.49% p.a.
0% p.a. for 15 months
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 26 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer, $0 first year annual fee, complimentary travel insurance and access to a 24/7 personal concierge service.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.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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