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 ongoing 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 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 |
| 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 |
| 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 |
| Foreign Currency Conversion Fee 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% |
| 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 BT fee. Any unpaid balances at the end of the introductory period will revert to the standard 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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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
I have already paid off a balance transfer and my credit card with you has a nil balance – can I do a further balance transfer and if so how do I go about it? Thank you
Hi Janet, thanks for your inquiry!
If you have used your balance transfer promotion on your current ANZ Low Rate credit card, unfortunately you are unable to request another transfer to this card. You can compare more balance transfer offers here.
Cheers,
Jonathan
Hi – Is the ‘$15 K minimum income’ a nett or gross figure?
Hi Mike,
Thanks for your question.
The minimum income for the ANZ Low Rate card is gross $15,000 p.a.
Cheers,
Sally
Hi,
I’m a Singaporean and can I apply for this card?
Hi Jean,
Thanks for your question.
Applicants must be permanent Australian residents.
Cheers,
Sally
I apply for a credit card and was approved for $1000 when can I apply for $15,000 as that’s what I really wanted
Hi Kim,
Thank you for your comment.
The available credit limit on the credit card will depend on the lender’s criteria. As a result it would be best to contact ANZ before completing an application to better assess your personal needs.
Cheers,
Sharon