American Express Low Rate Credit Card

Information verified correct on March 26th, 2017

American Express Low Rate Credit Card keeps your costs to a minimum with $0 annual fee and a purchase interest rate of 11.99% p.a.

With an annual fee of $0 for life and the purchase interest rate is a mere 11.99% 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
Purchase rate (p.a.)11.99% 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
Minimum Monthly Repayment2.5%
Minimum Income$40,000
Card TypeAmerican Express
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
Complimentary Travel InsuranceNo
Complimentary Travel Insurance CoverN/A
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$40,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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
Annual Fee$0 p.a.
Minimum Repayment2.5%
Late Payment Fee$30
Over Limit Fee$15
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 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

American Express Low Rate Credit Card review

Offering $0 annual fee, a low purchase rate of 11.99% p.a. and 55 interest-free days, this card is designed for cardholders who desire minimum maintenance costs on their credit card. The card also offers additional features such as purchase protection cover, refund protection cover and online no fraud guarantee to provide cardholders with peace of mind while shopping. As a low rate card though, this American Express card doesn’t offer a rewards program, complimentary travel insurance or platinum benefits such as concierge services

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 purchase rate on this card is a competitive 11.99% p.a.
  • Balance transfer. This card offers an introductory rate of  for the first  months on balance transfers.
  • 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 $40,000 (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.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

14 Responses to American Express Low Rate Credit Card

  1. Default Gravatar
    Warren | 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.

    • Staff
      Sally | November 4, 2015

      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
    Mark | 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?

    • Staff
      Jonathan | 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.

      Cheers.

      Jonathan

  3. Default Gravatar
    Alfonso | 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.

    Alfonso

    • Staff
      Jonathan | 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.

      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.?

    • Staff
      Elizabeth | 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.

      Thanks,

      Elizabeth

  5. Default Gravatar
    Gemma | 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

    • Staff
      Elizabeth | 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.

      Thanks,

      Elizabeth

  6. Default Gravatar
    Siano | September 23, 2014

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

    • Staff
      Shirley | September 26, 2014

      Hi Siano,

      Thanks for your question – the card is plain white.

      Cheers,
      Shirley

  7. Default Gravatar
    Ian | August 19, 2014

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

    • Staff
      Shirley | 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,
      Shirley

Credit Cards Comparison

Rates last updated March 26th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points per $1 spent and save with a reduced annual fee and a 0% p.a. balance transfer offer for 18 months.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on balance transfers for the first 18 months combined with a low annual fee.
13.99% p.a. 0% p.a. for 18 months with 3% balance transfer fee $59 p.a. Go to site More info

* 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.

Ask a question
feedback