ANZ Low Rate Credit Card
A no-frills card offering an introductory rate on balance transfers and a $0 first year annual fee.
New ANZ Low Rate customers can repay existing debt and save on costs with a $0 first year annual fee and 0% interest on balance transfers for the first 22 months with a 1.5% balance transfer fee.
0% p.a.
Balance transfer rate
for 22 months with 1.5% balance transfer fee
12.49% p.a.
Purchase rate
$0 p.a.
Annual fee
for the first year ($58 p.a. thereafter)
55 days
Interest free period
Details
| Product Name | ANZ Low Rate |
|---|---|
| Balance transfer rate | 0% p.a. for 22 months with 1.5% balance transfer fee |
| Balance Transfer Revert Rate | Balance Transfer Revert Rate (20.24%) |
| Balance Transfer Limit | 95% of available limit |
| Purchase rate (p.a.) | 12.49% p.a. |
| Annual fee | $0 p.a. annual fee for the first year ($58 p.a. thereafter) |
| Interest free period | 55 days |
| Cash advance rate (p.a.) | 20.24% p.a. |
| Min credit limit | $1,000 |
| Card type | Visa |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| Complimentary travel insurance | No |
| Minimum age | 18 years of age |
|---|---|
| Available to temporary residents | Yes - Conditions apply |
| Joint application | No |
Pros
- 0% p.a. on balance transfers for up to 22 months
- $0 annual fee for the first year ($58 p.a. thereafter)
- Ongoing low purchase interest rate of 12.49% p.a.
Cons
- Charges a 1.5% balance transfer fee
- Balance transfer reverts to the high standard balance transfer interest rate of 20.24% p.a. at the end of the introductory period
- Does not offer any form of purchase or travel insurance
| Annual fee | $0 p.a. annual fee for the first year ($58 p.a. thereafter) |
|---|---|
| Minimum monthly repayment | 2% of the closing balance or $25, whichever is greater |
| Late payment fee | $20 |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| Cash Advance Fee | 2% or $4, whichever is greater |
| Overseas cash advance fee | The greater of 2% of the amount or $4.00 |
| Overseas ATM withdrawal fee | $5 |
| Additional cardholder fee | $0 |
| Number of Additional Cardholders | 3 |
Expert review
Review by
Sally McMullen
sally.mcmullen@finder.com.auSally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.
