American Express Low Rate Credit Card

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Save with a low interest rate of 8.99% p.a. on purchases and an ongoing $0 annual fee. Plus, 0% p.a. on balance transfers for 12 months.

The American Express Low Rate credit card helps you keep account costs down with minimal extras, modest perks and no annual fee. Plus, purchase and refund protection covers.

0% p.a.

Balance transfer rate

for 12 months with 1% balance transfer fee

8.99% p.a.

Purchase rate

$0 p.a.

Annual fee

55 days

Interest free period


Product NameAmerican Express Low Rate Credit Card
Balance Transfer Rate0% p.a. for 12 months with 1% balance transfer fee
Balance Transfer Revert RatePurchase Rate (8.99% p.a.)
Balance Transfer Limit70% of available balance
Maximum Balance Transfer Amount$10,000
Purchase Rate8.99% p.a.
Annual Fee$0
Interest Free Period55 days
Minimum Credit Limit$1,000
Card TypeAmerican Express
Foreign Currency Conversion Fee (American Express)3% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$50,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo


  • Competitively low purchase rate of 8.99% p.a.
  • 0% on balance transfers for 12 months
  • Ongoing $0 annual fee
  • Up to 4 complimentary additional cardholders
  • Complimentary Refund and Purchase Protection Insurance


  • A 1% balance transfer fee applies to any balances transferred
  • A relatively large $30 late payment fee applies if you miss your minimum repayment
Annual Fee$0
Minimum Monthly Repayment2.5% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (American Express)3% of transaction value
Additional Cardholder Fee$0
Number of Additional Cardholders4

Expert review

Amy Bradney-George

Review by

Amy is an editor and writer at with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

Expert review

The American Express Low Rate credit card has one of the most competitive ongoing interest rates on the market, at 8.99% p.a. Combined with the $0 annual fee and a 0% p.a. balance transfer offer, this makes it a serious contender among low-cost credit cards. While American Express isn’t as widely accepted as Visa or Mastercard, a growing number of retailers offer Amex – including major supermarkets, department stores and restaurants.

How to apply

You can apply for the American Express Low Rate credit card online in around 10 minutes and could get a response within 60 seconds of submitting your completed application. Get started by making sure you meet the eligibility requirements and have all the following documents and details on hand.

Eligibility criteria

  • Minimum income. You must earn at least $50,000 per year to apply for this card.
  • Residency. You must be a permanent Australian resident, citizen or holder of a current Business Long Stay 457 Visa.

Card benefits

  • Low interest rate. If you have some big purchases coming up or want a credit card for future spending, the ongoing interest rate of 8.99% p.a. could help you keep interest charges down – even when you compare it to other low rate cards. Note that cash advance transactions are not available on the Amex Low Rate card.
  • $0 p.a. annual fee. While credit card annual fees typically range from around $25 to $400 (or more), this card gives you a way to save on that yearly cost by offering no annual fee for the life of the card.

Rates & fees

  • Interest-free days on purchases. This card offers up to 55 days interest-free on purchases during each statement cycle, as long as you pay off the full amount owed by the due date on each statement. Note that interest-free days do not apply if you are carrying a balance transfer debt.
  • Additional cardholders. If you want to share your account with your partner or family members, you can request up to 4 additional cardholders at no extra cost. Note that you will still be responsible for managing the account and making repayments.

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  1. Default Gravatar
    November 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.

    • AvatarStaff
      November 4, 2015

      Hi Warren,

      Thanks for your question.

      Just to confirm, you have come through to, 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.



  2. Default Gravatar
    April 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?

    • AvatarStaff
      April 7, 2015

      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.



  3. Default Gravatar
    January 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.


    • AvatarStaff
      January 22, 2015

      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.



  4. Default Gravatar
    December 13, 2014

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

    • AvatarStaff
      December 15, 2014

      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.



  5. Default Gravatar
    October 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

    • AvatarStaff
      October 30, 2014

      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.



  6. Default Gravatar
    September 23, 2014

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

    • AvatarStaff
      September 26, 2014

      Hi Siano,

      Thanks for your question – the card is plain white.


  7. Default Gravatar
    August 19, 2014

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

    • AvatarStaff
      August 20, 2014

      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,

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