ANZ Low Rate
- 0% p.a. for 15 months on balance transfers
Eligibility criteria, terms and conditions, fees and charges apply
Take advantage of a 0% p.a. introductory rate on balance transfers with a low annual fee on a new ANZ Low Rate Credit Card.
The ANZ Low Rate Credit Card offers you value and savings on credit card costs, with a low variable interest rate on purchases plus a 0% p.a. interest rate on balance transfers for 15 months with no balance transfer fee.
You can look forward to essential card features including up to 55 days interest-free on purchases when you pay your previous balance in full, a low minimum credit limit of $1,000 and the option to add up to 3 additional cardholders at no cost.
| Product Name | ANZ Low Rate |
|---|---|
| Balance transfer rate (p.a.) | 0% p.a. for 15 months |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Standard Balance Transfer Revert Rate (21.74% p.a.) |
| Purchase rate (p.a.) | 12.49% p.a. |
| Annual fee | $58 p.a. |
| Interest Free Period The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date. | Up to 55 days on purchases |
| Cash advance rate (p.a.) | 21.74% p.a. |
| 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 Type | Visa |
| Foreign Currency Conversion Fee (MC) 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 Insurance | No |
| Minimum Income | $15,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available To Temporary Residents | Yes - Conditions apply |
| Joint Application | No |
| Annual fee | $58 p.a. |
|---|---|
| Minimum Monthly Repayment | 2% or $25, whichever is greater |
| Late Payment Fee | $20 |
| Foreign Currency Conversion Fee (MC) 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 |
| Cash Advance Fee | The greater of 2% of cash advance amount or a minimum of $4.00 |
| Overseas Cash Advance Fee | The greater of 2% of cash advance amount or a minimum of $4.00 |
| Overseas ATM Withdrawal Fee | $5 |
| Gambling Transactions Allowed | Yes |
| Additional Cardholder Fee | $0 |
| Number of Additional Cardholders | 3 |
Pros
- Take advantage of 0% p.a. on balance transfers for 15 months with no balance transfer fee.
- A low annual fee of $58 applies.
- Get up to 55 days interest-free on purchases.
Cons
- This is a basic card that offers none of the perks like travel insurance or a rewards program.
Benefits of the ANZ Low Rate Credit Card
Here are some of the features you can expect with the ANZ Low Rate Visa Card.
- Balance transfer offer. New cardholders can enjoy 0% p.a. on balance transfers for the first 15 months with no balance transfer fee. Any unpaid balances at the end of the introductory period will revert to the standard variable balance transfer rate of 21.74% p.a. You can balance transfer from $100 up to 95% of your available credit limit from non-ANZ, Australian credit, charge or store cards.
- Low purchase rate. A variable rate of 12.49% p.a. on purchases means that you can save money on interest fees each month when compared to cards with higher purchase rates.
- Mobile payment technology. Apple Pay and Google Pay let you use your Apple or Android device to tap and pay with your eligible ANZ credit card.
Features of the ANZ Low Rate Credit Card
- Annual fee. This credit card charges a competitive annual fee of $58.
- Up to 55 days interest-free. Enjoy up to 55 days interest-free on purchases made with the ANZ Low Rate Credit Card when you pay your statement balance in full.
- Additional cardholders. You can request to add up to 3 additional cardholders on the account, with a $0 additional fee.
- ANZ fraud money-back guarantee. ANZ offers a money-back guarantee on all losses that result from unauthorised or fraudulent transactions on the account. ANZ also offers customer service 24 hours a day to further ensure protection.
How to apply for the ANZ Low Rate Credit Card
You can apply for the ANZ Low Rate online in a few minutes and should get a response within 60 seconds of submitting your completed application form. But before you get started, make sure you meet the application requirements and have all the documents and details you'll need ready.
Eligibility criteria
All ANZ credit card applicants are subject to basic credit screening, and in order to be approved all applicants must also:
- Be at least 18 years of age
- Have a good credit rating
- Be a permanent Australian resident or a temporary resident provided your visa has at least 9 months remaining
- Earn a minimum annual income of $15,000
Required documents and details
The online portion of the application takes approximately 10-15 minutes to complete. You will need the following information to complete your application:
- An Australian driver’s licence number (if you have one)
- Two recent payslips for income verification
- Your employer’s address and if you are self-employed, you will need your accountant’s name and contact number
- Details of your income, expenses, assets and liabilities
The ANZ Low Rate credit card offers a number of ways for cardholders to keep their credit card costs to a minimum. However, as it's not the only low rate credit card on the market, it's wise to compare your options before applying.
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Just wondering what the maximum credit limit because it doesn’t state it anywhere?
Hello Trai,
Thank you for your comment.
ANZ Low Rate Card max credit limit is not disclosed online as it’s being determined by the credit card issuer according to your income and financial history. Please refer to our guide about how to choose a responsible credit limit for your card here. The article will give you tips on how to determine your credit limit.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
Can I transfer the balance of two separate cards from different Banks if both balances owing are below 90% of the credit card limits?
Hi Nathan,
Thank you for leaving a question.
Yes this is possible. As long as the debt is 90% or lower from the card’s credit limit then this will push through. Hope this helps!
Cheers,
Reggie
If i have a personal (unsecured) loan with a non-anz bank, can i balance transfer that loan into this anz credit card? or is it only credit card to credit card? also, where can i find balance transfers from personal to credit card with zero interest?
Hi Rodger,
Thanks for getting in touch!
Yes, you can transfer a non-ANZ loan to an ANZ credit card. On this page lines up the banks that accepts to transfer a personal loan debt to a credit card. You can filter out the cards that offer 0% interest introductory offers.
Hope this helps! Feel free to reach out again, we’re on standby.
Regards,
Nikki
When will the annual fee of $58 be charged?
Hi Andrew,
Thank you for getting in touch with finder.
The annual fee of $58 is charged on your first statement after you apply for this card and at the first of the month after your account anniversary.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
I have a $5000 low rate credit card with ANZ. What would be the lowest minimum repayment amount if I max the card out?
Hi Rob,
Thanks for reaching out to us. Please note that we are not affiliated with ANZ or any company we feature on our site and so we can only offer you general advice.
On a $5,000 card balance with a minimum repayment of 3% for example, you’d need to pay at least $150 each month. You can calculate how much 3% of your balance is with the following formula: (3/100) x (your balance) = (your balance repayment amount). You can get this info on this page.
I suggest contacting ANZ directly to further confirm the information.
Cheers,
Rench
on a 0% interest balance transfer application, How long does the application process take from initial form signing to balance transfer occurring.
Thanks
Greg
Hi Greg,
Thanks for your question.
If you apply for ANZ Low Rate Credit Card balance transfer, the online application process just takes about 10-15 minutes. Once approved, the balance transfer can take between three to 15 business days to process, depending on which bank you are transferring a balance from.
Cheers,
Anndy
Hi why does it say this card will revert to 21.74 percent at the top on balance transfers at the end of 18 month transfer period, yet on the side under Pro’s it says it will revert to the low purchase rate at this time which is 13.49 percent? Confused??
Hi Nigel,
Thanks for your comment and for pointing that out.
Just to clarify, the ANZ Low Rate Credit Card has a balance transfer revert rate of 21.74% p.a., which is the same as the cash advance rate of interest.
Cheers,
Anndy
I have received a DSP pension
I have $996 per two week.
About 23000 per annual.
Can I apply a lower rate credit card for $1000 credit?
Hi Jun, thanks for your inquiry!
An annual pension benefit of $23,000 can qualify you to apply for a credit card. For a list of banks who accept pension benefits for applications please refer to this guide.
Cheers,
Jonathan
Is the 18months interest-free only for new customers or existing
Hi Tristan,
Thank you for your inquiry.
The balance transfer offer of 18 months applies to new approved customers only and not available to any balances transferred from an existing ANZ account.
For a comparison of other credit cards that offer balance transfers, please refer to this page.
I hope this helps.
Cheers,
Debbie
hi if i get $800 cash advance and i will pay it back in few days do i still need to pay my other non cash advance purchase to avoid high interest, i have -$1000 on my credit card i took $800 cash advance and pay it back, do i still need to pay that -1000 to avoid higher interest?
Hi Peter, thanks for your inquiry!
Non cash advance purchases will be charged at the purchase rate and not the cash advance rate. If you have cleared your previous months balance then you will be eligible for 55 interest-free days with the ANZ Low Rate credit card. This will allow you to avoid interest on your purchases. You can learn more about interest-free days on this page.
Cheers,
Jonathan