Save money on interest payments with a low purchase rate, plus receive 0% p.a. introductory rate on balance transfers and a low annual fee.
The ANZ Low Rate credit card features 0% p.a. interest on balance transfers for the first 15 months with no BT fee. It also comes with a low ongoing interest rate of 12.49% p.a. on purchases.
This is a no-frills credit card and could be the product you're looking for if you don't need all the extra perks that normally come with reward cards.
|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.
|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 Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|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.
|Gambling Transactions Allowed||Yes|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||3|
- 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.
- This is a basic card that offers none of the perks like travel insurance or a rewards program.
ANZ Low Rate Credit Card review
There are no complimentary benefits or rewards with this low rate credit card. These types of accounts could be ideal for people who don’t want to pay for a card with features they may not end up using. The ANZ Low Rate Credit Card has an annual fee of $58 and a competitive purchase rate of 12.49% p.a. You can use this card to securely shop online and make purchases in millions of places all over the world (wherever the Mastercard symbol is displayed). When you apply for this credit card, you get access to ANZ and Mastercard cardholder benefits and account security features.
Benefits of the ANZ Low Rate Credit Card
- Balance transfer promotion. 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.
- Get up to 55 days interest-free. Pay back your balance in full every statement period, and you could benefit from up to 55 days interest-free on purchases.
- ANZ App. This is an app for your smartphone or tablet device that lets you pay bills, transfer money and pay contacts via their mobile number.
- Mastercard PayPass. The ANZ Low Rate lets you tap and go for purchases under $100. If the merchant accepts PayPass, touch your card against the contactless terminal to complete the transaction.
- ANZ Falcon. ANZ Falcon gives you peace of mind knowing that your account is monitored and protected from suspicious activity, around the clock.
- Mastercard Zero Liability Guarantee. The Mastercard Zero Liability Guarantee protects your accounts from unauthorised used when you’re shopping online, in-store or over the phone with your ANZ Low Rate Credit Card.
Features of the ANZ Low Rate Credit Card
- Annual fee. The ANZ Low Rate Credit Card charges a competitive annual fee of $58.
- Interest rates. The standard interest rate when you use the ANZ Low Rate credit card to make a purchase is 12.49% p.a. (applies after interest-free days period) and 21.74% p.a. when you make a cash advance.
- Additional cardholders. Request up to 3 supplementary cards to be added to the account at no extra cost.
How to apply for the ANZ Low Rate credit card
The online application for the ANZ Low Rate Credit Card takes about 10-15 minutes to complete. ANZ will email you letting you know whether your application has been approved, declined or conditionally approved.
To apply for the ANZ Low Rate Credit Card, you must:
- Be over 18 years of age
- Meet the income requirement
- Have a good credit rating
Visa-holders can apply
If you’re on a business or working visa, you can apply for the ANZ Low Rate Credit Card. The minimum income requirement is higher if you’re a visa holder.
|Visa type:||Income requirement:|
|NZ Citizen Special Category Visa||$15,000 p.a.|
|Student Visa||$20,000 p.a. or have $20,000 in an ANZ deposit account.|
|Working / Business / Investor Visa||$50,000 p.a. or have $50,000 in an ANZ deposit account.|
Students can apply too
If you’re a domestic full time student, you can apply for this credit card. The minimum income requirement for domestic full time students is $6,000 p.a. You may also be asked to provide proof of your enrollment in full time study.
To make your application progress smoothly, have the following information on hand:
- Personal details such as driver’s licence, passport, birth certificate
- Information about your income and details about your employment
- Details about your assets and your liabilities