ANZ Low Rate Credit Card

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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
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Receive a low introductory offer of 0% p.a. on balance transfers for the first 16 months and enjoy a low annual fee.

The ANZ Low Rate Credit Card offers more value for less fees, with a low ongoing interest rate on purchases plus an introductory balance transfer offer of 0% p.a. for the first 16 months (reverts to the standard balance transfer rate of 21.74% p.a. thereafter). A 2% balance transfer fee applies.

You can also 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 link up to 3 additional cardholders with no cost.

Product NameANZ Low Rate
Balance transfer rate (p.a.)0% p.a. for 16 months with 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Standard Balance Transfer Revert Rate (21.74% p.a.)
Balance Transfer Limit95% of available credit limit
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

  • Enjoy 0% p.a. on balance transfers for the first 16 months.
  • A low annual fee of $58 applies.
  • 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.
  • A 2% balance transfer fee applies.

ANZ Low Rate credit card review

The ANZ Low Rate credit card provides you with both standard credit features and ways to save on credit card costs. It has a low purchase rate of 12.49% p.a. interest and provides up to 55 interest-free days on purchases, which can help you manage your expenses month-to-month. The ANZ Low Rate credit card could be worth your consideration if you’re looking for a credit card that costs little to own, and you don’t care for the additional features and benefits like insurance, rewards or points. Our ANZ Low Rate credit card review gives you all the information you need to apply for this product and use it effectively.

Benefits of the ANZ Low Rate Credit Card

  • Balance transfer offer. New cardholders can enjoy 0% p.a. on balance transfers for the first 16 months (a 2% balance transfer fee applies). Any unpaid balance at the end of introductory period will revert to the standard balance transfer rate of 21.74% p.a.
  • Low purchase rate. A variable rate of 12.49% p.a. on purchases means that you save money on interest fees each month.
  • Mobile payment technology. Apple Pay and Android Pay let you use your Apple or Android device to tap and pay with your smartphone and eligible ANZ credit card.
  • Up to 55 days interest-free. Up to 55 days interest-free on purchases made with the ANZ Low Rate Credit Card. This feature allows you to use the card for your day to day spending — paying bills and buying groceries for example — and settle the account at the end of the month without incurring any additional costs.

Features of the ANZ Low Rate Credit Card

  • Annual fee. This credit card attracts a competitive annual fee of $58.
  • Interest-free days. Up to 55 interest-free days on purchases if you pay back your balance in full each month.
  • Transfer 95% of the approved credit limit. You can use up to 95% of your credit limit towards a balance transfer at a rate of 0% p.a. for the first 16 months with a 2% balance transfer fee (reverts to the standard balance transfer rate thereafter). For example, if you’re approved for an ANZ Low Rate Credit Card with a $5,000 credit limit, you can transfer $4,750 from a number of credit cards, charge cards and store cards.
  • ANZ Falcon. ANZ offers a 24/7 security service that helps protect customers from fraud by monitoring transactions and sending immediate alerts in the event of suspicious activity.
  • Additional cardholders. Add up to 3 additional cardholders to the account for $0.
  • ANZ fraud money-back guarantee. ANZ have a money-back guarantee on all losses that result from unauthorised or fraudulent transactions on the account. Mastercard's Zero Liability Guarantee offers full reimbursement if you’re a victim of fraud. ANZ also offers customer service 24 hours a day to further ensure protection.
  • Mastercard card. Access the worldwide Mastercard payment network — this card works in millions of places around the world.
  • Mastercard PayPass. This feature lets you tap and go for purchases under $100. Just press your card against the PayPass terminal and you’re good to go.
  • Mastercard benefits. Get access to Priceless Cities if you’re a Mastercard cardholder. This entitles you to a number of complimentary gifts and experiences at merchants across Sydney.

How to apply for the ANZ Low Rate Credit Card

If you'd like to apply for the ANZ Low Rate Credit Card, you can start the process by filling out an online application form. The following eligibility requirements apply:

Eligibility criteria

All ANZ credit card applicants are subject to basic credit screening, and in order to be approved all applicants must also:

  • Be over 18 years of age
  • Be in good credit standing
  • Be a permanent Australian resident or a temporary resident holding a 457 working visa provided the visa has at least 9 months remaining
  • Be earning a minimum annual income of $15,000

Required documents

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
  • Your employer’s address and if you are self-employed, you will need your accountant’s name and contact number
  • Details of income, 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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616 Responses to ANZ Low Rate Credit Card

  1. Default Gravatar
    Greg | July 18, 2016

    on a 0% interest balance transfer application, How long does the application process take from initial form signing to balance transfer occurring.

    Thanks

    Greg

    • Staff
      Anndy | July 18, 2016

      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

  2. Default Gravatar
    Nigel | July 11, 2016

    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??

    • Staff
      Anndy | July 11, 2016

      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

  3. Default Gravatar
    Jun | March 12, 2016

    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?

    • Staff
      Jonathan | March 14, 2016

      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

  4. Default Gravatar
    Tristan | February 3, 2016

    Is the 18months interest-free only for new customers or existing

    • Staff
      Debbie | February 4, 2016

      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

  5. Default Gravatar
    peter | December 3, 2015

    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?

    • Staff
      Jonathan | December 4, 2015

      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

  6. Default Gravatar
    Janet | December 2, 2015

    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

    • Staff
      Jonathan | December 2, 2015

      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

  7. Default Gravatar
    Mike | November 26, 2015

    Hi – Is the ‘$15 K minimum income’ a nett or gross figure?

    • Staff
      Sally | November 27, 2015

      Hi Mike,

      Thanks for your question.

      The minimum income for the ANZ Low Rate card is gross $15,000 p.a.

      Cheers,

      Sally

  8. Default Gravatar
    jean | November 17, 2015

    Hi,

    I’m a Singaporean and can I apply for this card?

    • Staff
      Sally | November 18, 2015

      Hi Jean,

      Thanks for your question.

      Applicants must be permanent Australian residents.

      Cheers,

      Sally

  9. Default Gravatar
    Kim | November 5, 2015

    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

    • Staff
      Sharon | November 5, 2015

      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

  10. Default Gravatar
    Chuber | October 9, 2015

    Hi,

    Just need to know if my partner and I can do two balance transfer but onto one card? in total I think the amount is $5,300?

    • Staff
      Jonathan | October 13, 2015

      Hi Chuber, thanks for your inquiry!

      If you and your partner are separate cardholders then you will be unable to balance transfer both amounts onto one card. If you are joint-account holders then you may be able to complete this transaction. More information is available on this page.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated June 29th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent in the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
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) Go to site More info

* 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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