The ANZ Low Rate Credit Card is suited to people who want a simple, low cost account. Both its 13.74% p.a. interest rate for purchases and its $58 annual fee are competitive among other low rate credit cards. Right now, it also offers value with $250 back to your new card when you spend $1,500 on eligible purchases in the first 3 months from approval. While its low rate applies for purchases, keep in mind that balance transfers and cash advances are charged a higher 21.99% p.a. interest rate.
ANZ Low Rate Credit Card – Credit Back Offer
- Balance transfer rate with no balance transfer fee
- 21.99% p.a.
- Purchase rate
- 13.74% p.a.
- Annual fee
- $58 p.a.
- Interest-free on purchases
- Up to 55 days
The ANZ Low Rate Credit Card’s 13.74% p.a. interest purchase rate is on par with other low rate cards, and much lower than the average standard credit card interest rate in Australia (currently 19.82%). The $250 back on your account as a new cardholder also adds value, with a relatively low spend requirement of $1,500 in the first 3 months. Given the rising cost of living, this could be a way to save on purchases you’re already planning or essentials like groceries and petrol.
$250 credit back on your new card
Ongoing low purchase interest rate of 13.74% p.a.
Low spend requirement of $1,500 in the first 3 months to get the $250 back
Does not offer any form of purchase or travel insurance
|Product Name||ANZ Low Rate - Credit Back Offer|
|Balance transfer rate p.a.||21.99%|
|Balance transfer limit||95% of available limit|
|Purchase rate p.a.||13.74%|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate p.a.||21.99%|
|Min credit limit||$1,000|
|Available to temporary residents||Yes - Conditions apply|
|Minimum monthly repayment||2% of the closing balance or $25, whichever is greater|
|Late payment fee||$20|
|Foreign currency conversion fee||3%|
|Cash advance fee||3%|
|Overseas cash advance fee||3% of the transaction amount or $4 (whichever is greater)|
|Overseas ATM withdrawal fee||$5|
|Additional cardholder fee||$0|
|Number of additional cardholders||3|
How to applyYou can apply for the ANZ Low Rate credit card online in around 20 minutes and receive a response within 60 seconds. Before you apply, make sure you meet the following eligibility requirements and have the necessary information to complete the application.
- Residency requirement. Citizens and permanent residents of Australia are eligible to apply. If you are a non-Australian permanent resident, you must have an eligible working or business visa with at least 9 months remaining.
- New cardholder. To take advantage of the credit back promotion, you must be a new customer and select the credit back offer at the time of application.
- Credit history. You must have a good credit score and history. You can get your credit score and comprehensive credit report for free through Finder.
- Age. You must be at least 18 years of age.
- $250 back. You'll receive $250 back to your new account when you apply for a new ANZ Low Rate Credit Card and spend $1,500 in the first 3 months from approval.
- Low purchase interest rate. A variable rate of 13.74% p.a. on purchases means that you can save money if you don't pay off your balance each month, compared to cards with higher purchase rates.
- Mobile payments. You can link your card to Apple Pay, Google Pay and Samsung Pay so you can make payments straight from your mobile phone or other devices.
- Visa Offers + Perks. As this is a Visa credit card, you'll get access to exclusive offers on dining, entertainment, travel and more, with current offers listed on the Visa website.
- Security. ANZ Falcon offers 24/7 transaction monitoring and the ANZ Fraud Money Back Guarantee means you won't be liable for fraudulent transactions made with your credit card. If your card is lost or stolen, you can also request emergency credit card replacement worldwide.
Rates & fees
- Annual fee. The $58 annual fee on this card is competitive with other low rate and low-cost credit cards in Australia.
- Up to 55 days interest-free. If you pay your closing balance in full by the due date on each statement, you'll get up to 55 days interest-free on purchases. If you have promotional balances from balance transfers, instalment plans or buy now pay later plans, the amount you need to pay will be shown as the Adjusted Closing Balance. The Adjusted Closing Balance is calculated as your closing balance less the sum of any relevant promotional plans.
- Cash advances. If you use your card to make a cash advance (such as an ATM withdrawal), you'll be charged a 21.99% p.a. interest rate. You'll also be charged 3% of the transaction amount in Australia or 3% of the transaction amount or $4 (whichever is greater) for overseas transactions.
- Additional cardholders. You can request up to 3 additional cardholders at no extra cost.
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August 02, 2023
If i have opened this credit card with the promotion in the past and closed it, will i be able to open it again and get the same promotion?
Amy Bradney-George Finder
August 07, 2023
The terms and conditions for this offer state that is only for new credit card applicants and is limited to one offer per applicant, so if you have applied for this particular offer before you would not be eligible. But if you’ve closed the account, you could call ANZ on 13 22 73 to check whether you would be considered a new or existing applicant. Alternatively, you can compare other credit card cashback offers on Finder to decide if there’s another one that’s suitable for you. I hope this helps.
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