In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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Auswide Bank Low Rate Credit Card

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Auswide Bank Low Rate Visa Credit Card
Terms and conditions apply
Balance transfer rate for 12 months with no balance transfer fee
0% p.a.
Purchase rate
10.99% p.a.
Annual fee
$50 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

Offers a 10.99% p.a. interest rate for purchases and cash advances, with a $50 annual fee.

The Auswide Bank Low Rate Visa is suited to people who want a credit card with simple, low-cost features. Its 10.99% p.a. variable interest rate is very competitive with other low rate cards. It's also much lower than the average standard credit card interest rate in Australia, which is currently 20.07%.

Pros

  • Low variable interest rate of 10.99% p.a. on purchases and cash advances
  • 0% p.a. for 12 months on balance transfers
  • The $50 annual fee can be waived if you're under 25 years old
  • Up to 55 days interest-free on purchases

Cons

  • No rewards program so you won't be rewarded for spending
  • No interest-free days on purchases while you're paying off a balance transfer
  • Charges a 3% foreign transaction fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The Auswide Bank Low Rate Visa offers a 10.99% p.a. variable interest rate for purchases and cash advances and up to 55 days interest-free on purchases if you pay the full closing balance by the due date on each statement. Its $50 annual fee is similar to other low rate cards and is waived for anyone under 25 years old. Its other features are typical of most credit cards, including worldwide acceptance, zero liability for fraudulent transactions and access to Visa Offers + Perks.

Details

Product details

Product Name Auswide Bank Low Rate Visa Credit Card
Balance transfer rate p.a. 0% for 12 months, then 10.99%
Balance transfer limit 80% of available limit
Purchase rate p.a. 10.99%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 10.99%
Min credit limit $500
Max credit limit $50,000
Card type Visa

Eligibility

Available to temporary residents No
Minimum income $30,000
Joint application No

Rewards

Bonus points N/A

Fees

Annual fee $50
Minimum monthly repayment 3% of the closing balance or $30, whichever is greater
Late payment fee $20
Foreign currency conversion fee 3%
Cash advance fee $3.50
Overseas cash advance fee $5
Additional cardholder fee $0

How to apply

You can apply for the Auswide Bank Low Rate Visa in a branch, over the phone (1300 138 831) or by filling out a detailed inquiry form on the bank's website. Before you get started, make sure you meet the following eligibility requirements and have all the essential documents and details ready to go.

Eligibility criteria

  • Minimum income. You must earn at least $30,000 per year.
  • Age. You must be at least 18 years of age.

Card benefits

  • 0% balance transfer offer. If you want to pay off debt on an existing credit card from another financial institution, this card offers an introductory 0% p.a. interest rate on balance transfers for the first 12 months. At the end of the promotional period, any remaining balance will attract the card's purchase rate of 10.99% p.a.
  • Low variable interest rate. The 10.99% p.a. interest rate on this card applies to both purchases and cash advances and is very competitive with other low-rate cards.

Rates & fees

  • Annual fee. The $50 annual fee on this card is competitive with other low-rate options. It's also waived if you're under 25 years old.
  • Credit limit. This card has a minimum credit limit of $500 and a maximum limit of $50,000. Note that your actual credit limit is determined based on the bank's credit criteria and your individual and financial circumstances.

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Amy Finder

Editor

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