ANZ Low Rate Credit Card – Rates and Fees

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  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Save money on interest payments with a low purchase rate, plus receive $100 back on your account when you meet the spend requirement.

The ANZ Low Rate credit card features a $100 credit back to your new ANZ Low Rate card when you apply and get approved.

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 NameANZ Low Rate
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
Minimum Monthly Repayment2% or $25, whichever is greater
Minimum Income$15,000
Card TypeMastercard
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
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$15,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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
Annual Fee$58 p.a.
Minimum Repayment2% or $25, whichever is greater
Late Payment Fee$20
Over Limit Fee$20
Cash Advance FeeThe greater of 2% of the cash advance amount or a minimum of $0
Overseas Cash Advance FeeThe greater of 2% of cash advance amount or a minimum of $4.00
Overseas ATM Withdrawal Fee$5
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
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders3
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Receive a $100 credit back to your new ANZ Low Rate Credit Card when you spend $500 on eligible purchases in the first 60 days from card approval.
  • A low annual fee of $58 applies.
  • Get up to 55 days interest-free on purchases.

Cons

  • This card currently does not offer any introductory rate on purchases and balance transfers.
  • 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

  • $100 back. New customers can receive a $100 credit back to their ANZ Low Rate credit card account when they spend a minimum of $500 on eligible purchases within the first 60 days from card approval.
  • 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 goMoney. ANZ goMoney 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.

Eligibility criteria

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.

Required documents

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
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128 Responses

  1. Default Gravatar
    QurbanAugust 3, 2016

    I have anz low rate credit card. I have lose my income due to my injury at work. I can’t effort to pay 120 each months. How should I claim on anz insurance

    • Staff
      MayAugust 4, 2016Staff

      Hi Qurban,

      Thanks for your question. Please note that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually ANZ.

      If you wish to claim your credit card repayment insurance, please contact ANZ directly. I’ve sent to your email their contact details.

      Cheers,
      May

  2. Default Gravatar
    JayDecember 18, 2013

    I currently have an ANZ credit card, I assume that I can not transfer from one ANZ credit card to another with a low rate for a fixed term.

  3. Default Gravatar
    CatherineOctober 29, 2013

    I already have an ANZ Low Rate Credit card with a low balance that I will pay off shortly. Is it possible to transfer the balance of my Westpac MasterCard to the same card, or will I have to apply for the ANZ Low Rate Credit card again?

    • Staff
      JacobOctober 29, 2013Staff

      Hi Catherine.

      Thanks for your question.

      If you’re already an existing ANZ cardholder, you can still transfer a balance from a non-ANZ credit card. If you would like to receive the promotional rate, you will have to call ANZ and request a balance transfer to your card. If you apply for a balance transfer through your online banking facility, you will receive the annual percentage rate on purchases on the balance transfer amount. When you speak to ANZ, be sure to have your BPAY biller code for the banking institution you wish to transfer from.

      I hope this helps.

  4. Default Gravatar
    PhillipOctober 16, 2013

    Hi.

    I am trying to click on the apply now link; however, it comes up as blank and doesn’t go through to the ANZ website, are you able to assist?

    Thank you.

    • Staff
      JacobOctober 16, 2013Staff

      Hi Phillip.

      Thanks for getting in touch with us.

      Which Internet browser are you using? We find that Google Chrome or Firefox work best. Also, if you’re at work, you may be behind a business firewall. If the above doesn’t apply, please send us an email to help@finder.com.au and we can work towards a solution.

  5. Default Gravatar
    JocelynOctober 12, 2013

    Hi,
    How long is the usual approval time from application?
    Cheers.

    • Staff
      JacobOctober 14, 2013Staff

      Hi Jocelyn.

      Thanks for your question.

      You should know whether you’ve been approved, conditionally approved or declined within a minute of completing your application. You should be notified by email. Once you’ve had a response, it usually takes about a week and a half to two weeks before you get your card in the mail or by picking it up at a branch.

      You can find more information on checking up on your credit card application on this page.

      I hope this helps.

  6. Default Gravatar
    melOctober 10, 2013

    Why are credit card interest rates very high when the rba has set the interest rate at less than half of what credit cards do? This seems grossly unfair. And the annual fee, on top of the high interest rates… tell me what is that fee for, or is it just another way of getting money from consumers??

    • Staff
      JacobOctober 10, 2013Staff

      Hi Mel.

      Thanks for your question.

      There are a number of reasons why credit card rates of interest are so high compared to other forms of finance, but the main reason is because credit cards are an unsecured form of credit. If you default on a payment, the bank has no immediate way of recovering the lost funds. When you compare this against a mortgage, which has rates that are more closely aligned to the official cash rate, you can see that the bank has the option of selling the property to recover the debt if the borrower defaults.

      I hope this helps.

  7. Default Gravatar
    melOctober 10, 2013

    Can you pay the monthly account at a post office

    • Staff
      JacobOctober 10, 2013Staff

      Hi Mel.

      Thanks for your question.

      Yes, this account can be paid at the post office. Please note that there may be a small fee charged when you pay your card this way. You can also pay this account by direct deposit from another transaction or savings account and through BPAY.

      I hope this helps.

  8. Default Gravatar
    ZakirOctober 9, 2013

    Hi there, what is the minimum credit limit?

    • Staff
      JacobOctober 9, 2013Staff

      Hi Zakir.

      The minimum credit limit for this card is currently $500.

      Thanks for your question.

  9. Default Gravatar
    UsmanOctober 8, 2013

    Hi There,

    What is the Maximum Limit of Balance Transfer. say if i have $1,000 balance on another.. how much i can transfer on ANZ.

    Thanks

    • Staff
      JacobOctober 8, 2013Staff

      Hi Usman.

      Thanks for your question.

      ANZ will currently allow you to use up to 95% of your credit limit towards a balance transfer. So if you’re approved for a card with a $10,000 limit, you will be able to transfer up to $9,500 from a non-ANZ credit card, store card or charge card.

      I hope this helps.

  10. Default Gravatar
    geoffOctober 4, 2013

    Hello.
    I have a Westpac Ignite MasterCard. I am interested in the offer.

    I’m a workcover recipient. I have not worked for 15 months due to my injury, as such I am not employed but I receive 80% income payments. Can I apply?

    • Staff
      JacobOctober 8, 2013Staff

      Hi Geoff.

      If you’re currently unemployed, but you’re still receiving an income, you can still apply for this card. In the online application, it asks you to select your current situation of employment. If you select unemployed, you will be asked to enter your monthly income and expenses. You will be required to meet the current minimum income requirement for your application to be considered.

      Thanks for your question.

Credit Cards Comparison

Rates last updated October 18th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to finder.com.au and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Available in black or white, this no-fuss credit card offers the same rate on purchases and cash advances, plus card lock technology.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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