ANZ Low Rate Credit Card
Last updated:
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 balance |
| 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 Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.
