Low Interest Rate Credit Cards

Enjoy lower interest rates when you carry a balance and save money on your credit card bill.

A low interest rate credit card is designed to reduce the cost of your repayments by charging less interest than other credit cards. If you carry a balance, a low rate card helps keep your charges to a minimum and can help you pay down card debt faster. Use this guide to learn how low interest rate cards work and compare the features and offers available to find the right card for your needs.

Compare the latest Low Interest Rate Credit Cards

Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
HSBC Low Rate Credit Card
13.25% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 15 months with 2% balance transfer fee
Save with 13.25% p.a. on purchases. Also enjoy exclusive offers with the home&Away Privilege Program.
St.George Vertigo Visa
13.24% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 14 months
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
Westpac Low Rate Card - Online Only Balance Transfer Offer
13.49% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 24 months with 2% balance transfer fee
A low interest rate on everyday purchases and a long term balance transfer rate offer of 0% for 24 months.
St.George Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 20 months
Save with 12.74% p.a. on purchases. Also enjoy Visa Platinum Concierge service.
Bendigo Bank Basic Black Credit Card
12.24% p.a.
Up to 44 days on purchases
$45 p.a.
A basic credit card that features low interest rates, low annual fee and up to 44 interest-free days on purchases.
NAB Low Rate Platinum Card
13.99% p.a.
Up to 55 days on purchases
$100 p.a.
0% p.a. for 18 months with 3% balance transfer fee
Save with 13.99% p.a. on purchases. Also enjoy access to 7 complimentary insurances.
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$58 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Take advantage of 0% p.a. for 16 months on balance transfers and a low ongoing interest rate on purchases.
ANZ Low Rate Platinum
11.49% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
NAB Low Rate Credit Card
13.99% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 18 months with 3% balance transfer fee
Save with 13.99% p.a. on purchases. Also enjoy special offers from Visa Entertainment.
BankSA Vertigo Visa
13.24% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 14 months
Enjoy a low balance transfer offer of 0% p.a. for 14 months and a low ongoing purchase rate from BankSA.
American Express Essential®  Credit Card
14.99% p.a.
Up to 55 days on purchases
$0 p.a.
0% p.a. for 12 months with 1% balance transfer fee
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
Bank of Melbourne Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 20 months
Save with 12.74% p.a. on purchases. Also enjoy up to 55 days interest-free.
Virgin Money Low Rate Credit Card
11.99% p.a.
Up to 44 days on purchases
$99 p.a.
0% p.a. for 12 months
Save with 11.99% p.a. on purchases. Also enjoy the protection of Fraudshield.
Westpac Low Rate Card
0% p.a. for 6 months (reverts to 13.49% p.a.)
Up to 55 days on purchases
$59 p.a.
0% p.a. for 12 months
A simple low interest rate card featuring a low ongoing rate on purchases, up to 55 days interest-free on purchases and a low annual fee.
Heritage Bank Gold Low Rate Credit Card
11.80% p.a.
0 interest free days
$0 p.a.
0% p.a. for 12 months
Save with 11.8% p.a. on purchases. Also enjoy $0 annual fee.
Coles Low Rate Mastercard
12.99% p.a.
Up to 62 days on purchases
$49 p.a.
0% p.a. for 6 months
Receive $100 off a single Coles Supermarket shop If you apply, are approved by 30 June 2017 and make a purchase within the first 30 days.

Compare up to 4 providers

The finder.com.au list of Low Interest Rate Credit Cards

Compare the features of the low interest rate credit cards below.

Credit CardPurchase RateAnnual Fee
11.99% p.a.$0 p.a.
13.99% p.a.$59 p.a.
11.49% p.a.$49 p.a.

You can apply for any card listed here by clicking on the Go to site button. This will securely transfer you to the relevant financial institution's website. There is no fee for applying from this page.

Complete guide to low interest credit cards

What is a low interest rate credit card?

Low interest rate cards offer a much lower interest rate for purchases than standard credit cards. While the typical range for interest rates on cards in Australia is 15% to 24% per annum, low rate cards offer standard variable rates as low as 10% p.a. Some cards even offer promotional 0% rates on purchases for a fixed period (you can learn more about those in finder's guide to 0% purchase credit cards).

A low interest rate credit card makes sense if you regularly pay with plastic and know you won't always pay off the balance in full each month. It gives you the flexibility to pay back purchases over time, without the higher interest charges of some other cards.

If you have a large existing credit card debt and want to pay it off, you may want to consider a balance transfer card instead. If you always pay your balance in full, then a card with a low annual fee or extra benefits such as reward points might make more sense.

What types of low interest credit cards are available?

  • Standard low interest rate. These credit cards typically offer standard variable purchase rates below 15% p.a. and have a low annual fee. Usually this type of credit card only has essential features or limited extras as a way to keep charges low.
  • Low interest rate with introductory 0% purchase rate. These cards let you make purchases with 0% interest during the promotional period, usually for the first few months you have the card. After that period, the standard purchase rate for the card will apply.
  • Low interest rate with balance transfer. These cards charge a low rate on purchases and also let you transfer your existing balance from another credit card (usually with 0% interest on that balance for a fixed period).
  • Premium low interest rate. Some gold and platinum cards offer low purchase rates and include perks such as complimentary travel insurance or concierge services. Note that the annual fees for gold and platinum low rate cards will usually be higher than those charged for standard low rate cards as a result of the premium features available.

How much money can I save with a low rate credit card?


Even a small difference in credit card interest rates can save you a lot of money. Say you have a $2,000 balance on your credit card and you take 6 months to pay it off. With an interest rate of 20% p.a., you'd pay $118.30 extra on your debt.

But if you had a card with a low interest rate of 12% p.a., you'd pay $70.60 in interest charges over the same time period. That's a saving of $47.70. And the bigger your expenditure, the bigger the difference gets.

How to compare low interest rate credit cards

If you're interested in getting a low interest rate card, comparing your options will help you find a card that suits your needs. Here are the key factors you should consider:

Interest rates

Credit card interest is typically calculated daily on your existing balance, and charged monthly to your account on the statement due date. The lower the rate, the less overall interest you'll pay. As well as the rate that applies to new purchases and your existing balance, consider the following:

  • Interest-free days. If there's an interest-free period for purchases (and you're eligible for it), interest won't be calculated on those purchases until after that period ends. However, interest will apply in full if you haven't paid off the total owed by the due date on your statement. Learn more about how this works in our guide to interest-free days.
  • Cash advances. The interest rate for cash advances is usually higher than the rate applied to purchases. This rate is charged for transactions such as ATM cash withdrawals, foreign currency purchases and gambling. There is also no interest-free period, so avoid making cash advances unless it's an emergency.
  • Revert rate. If you get a credit card with a 0% purchase rate or balance transfer offer, this is the interest rate that applies when the promotional period ends. Always check this rate before choosing a credit card and avoid offers with high revert rates. For example, if it's the same as the cash advance rate, that's a clear warning sign.

Fees and charges

  • Annual fee. Try to find a card with a low annual fee, but don't make this your sole deciding factor. A $0 annual fee isn't helpful if the base interest rate on purchases is a lot higher. Annual fees typically range from $0 for cards with basic features to $250 or more for gold and platinum cards.
  • Other fees and charges. Fees may apply for using your card in an ATM; for using the card overseas; or if you overdraw your credit limit. Make sure you're aware of the relevant charges that apply to your card. If you're a regular traveller, consider a card with no foreign currency fees.

Additional features

While most low rate credit cards have limited features, more premium cards could offer a few extra perks. Some of the most popular include:

  • Complimentary extras. Gold or platinum low rate credit cards may include perks such as travel insurance, purchase protection insurance or concierge services. If you use these extras, they have the potential to offset the cost of any annual fee you pay.
  • Rewards. Most low rate credit cards don't offer rewards points for your spending. Currently the American Express Essential is one of the only products that earns points per $1 and has a low standard variable purchase rate. Another option is the Coles Low Rate Mastercard, which doubles as a flybuys rewards card and offers a bonus 1 point per $2 spent at Coles Supermarkets.
  • No international transaction fee. If you plan to use your credit card when you travel overseas or shop online with international retailers, a low rate card that waives foreign transaction fees – such as the Bankwest Breeze Platinum Mastercard – could help you save even more money.

Benefits and drawbacks of low rate credit cards


  • You'll pay less interest on purchases, making it easier to manage your credit card debt.
  • Many low rate cards also have low annual fees.
  • You can often combine low rate cards with other features such as balance transfers or zero foreign transaction fees.


  • You're less likely to receive reward points and other perks.
  • You may not qualify if you have a poor credit history.

If you often carry a balance, a low interest credit card could help you save on additional fees and charges. Just remember to consider the other features – such as introductory offers, annual fees, and complimentary extras – to help you find a card that best suits your needs.

Answers to the most frequently asked questions about low interest rate credit cards

  • Q: What does "low rate" refer to and when won't it apply?
    A: With this type of credit card, the "low rate" description refers to the purchase rate for that card. This is the interest rate that's applied for most transactions you make. It usually doesn't apply for cash advance transactions, including cash withdrawals, gift card purchases, foreign currency purchases, gambling transactions and some BPAY transactions.
  • Q: Does the low interest rate apply to balance transfers?
    A: This depends on the credit card and any applicable balance transfer offers. When you transfer a balance to a credit card, you usually get a promotional low or 0% interest rate during the introductory period before reverting to a standard rate for that card. Some low rate credit cards apply the standard purchase rate to balance transfers after the introductory period, such as the Bankwest Breeze Mastercard or St.George Vertigo Visa, while others apply the cash advance rate. Read our guide on balance transfer revert rates to find out what providers apply the purchase rate.
  • Q: What other interest rates apply?
    A: Low rate credit cards also have a cash advance rate that applies to cash advance transactions. Depending on the card, the cash advance rate will apply to any or all of the following: cash withdrawals from an ATM or supermarket, foreign currency purchases, gift card and prepaid debit card purchases, gambling transactions, BPAY transactions, government charges and balance transfers after the introductory period.
  • Q: What is the best* low interest rate credit card?
    A: There is no one "best" low rate credit card in Australia. With so many cards on the market, the individual features have an impact on how well a card is suited to your circumstances. So the card that's right for you may not be right for someone else. Comparing low interest rate credit cards based on the features you're looking for will help you find an ideal card for your individual needs.
  • Q: Do low interest rate credit cards come with interest-free days?
    A: Most low rate cards offer an interest-free period on purchases, up to a set number of days in each statement period. However, interest-free days are only available for purchases if you pay your balance in full by the due date on each statement.
  • Q: I have a low rate card with 0% on purchases for 6 months. Do I still have to make repayments?
    A: Yes, you will still have to pay at least the minimum amount for each statement period. Depending on your credit card provider, this is usually around 2-3% of your total balance. If you want to avoid interest charges, you'll need to may higher repayments to clear your balance before the end of the promotional 0% interest period.
  • Q: How is credit card interest calculated?
    A: Although the interest rate advertised is a yearly (per annum) number, credit card interest is actually calculated daily based on your average daily balance. It's then charged to your account at the end of each statement period.
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St.George Vertigo Platinum
St.George Vertigo Platinum

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60 Responses to Low Interest Rate Credit Cards

  1. Default Gravatar
    Brenton | January 23, 2017

    Hi I’m trying to find a better credit card than what I have at present. The interest rate I’m paying at the moment is 19.74 is there anything under 10%? Cheers Brenton

    • Staff
      May | January 24, 2017

      Hi Brenton,

      Thank you for your inquiry.

      I’m afraid that there may not be a credit card which has an interest lower than 10%. At the moment, the credit cards with low interest are listed above. In case you want to check your options for a credit card with 0% interest on purchases for a limited time, you can find them here or for a credit card with no annual fees, please click this link.

      When selecting a credit card, it’s always best that you factor in which one that best meets your preferences and fits into your financial situation.

      Hope this helps.


  2. Default Gravatar
    | September 23, 2016

    if our salary is below 15000, then if we are interested to apply for a credit card at that time, what is the Secondary Process for that.

    • Staff
      May | September 25, 2016

      Hi Divya,

      Thank you for your question.

      Your income is one of the most important factors that a bank or credit card company considers for their applicants. Although credit card companies vary when it comes to income requirements, there are banks or card issuers that accept applicants with $15,000 p.a. or more and some require applicants to have earnings from $20,000 or $25,000. If you find that your income is below the minimum requirement, you may need to have an additional income source to present to be approved.

      Nevertheless, on this page, you can compare your low-income credit card options.


  3. Default Gravatar
    Mia | June 21, 2016

    This morning I applied for a St George Vertigo Credit Card. I was approved for credit of $2000 and a balance transfer of $2000 (sorry if I’m incorrect) but does that mean that the total value of this card is $4000?

    • Default Gravatar
      garry | January 11, 2017

      If the bank accepts my application for a credit card and i transfer my dept to them an I able to switch back at the end of the promotional period?
      Is there a minimum time I have to stay with the new credit card?
      kind regards

    • Staff
      Anndy | January 11, 2017

      Hi Garry,

      Thanks for your question.

      If you are referring to using your old credit card again after the promotional period of your new balance transfer card, the answer is yes, that is possible. When you transfer your balance to a new card, you have the option to cancel or retain your old card.

      There is no time requirement for keeping your new card. You can also cancel it anytime, so long as you follow the correct procedure as we have listed on our credit card cancellation guide.


    • Staff
      May | June 21, 2016

      Hi Mia,

      Thanks for your question.

      Essentially, when you apply for a credit card, the card institution will give you a credit card limit that you can use – either for purchases, cash advances and even balance transfers. As you mentioned, you were approved for a credit and balance transfer limit of $2,000 for the St. George Vertigo Credit Card, however, this does not imply that you’re given a total of $4,000 credit limit on the card (that you can spend). This means that St. George allows you to transfer a balance (a debt from your old credit card) up to $2,000 to this card. Unlike other card issuers (depending on the type of card), they would only allow you to transfer a total balance up to a percentage of your credit limit, usually 70%-95%.

      I hope this answers your question.


  4. Default Gravatar
    gina | May 24, 2016

    i just wandering if i could get balance transfers,what could i do? if yet how much interest could i get each month.

    • Staff
      Sharon | May 26, 2016

      Hi Gina, thanks for you inquiry.

      You may check our balance transfer page first to compare credit cards that has this offer. You can check the complete details about a specific product by clicking the product name. This will direct you to the product review page where benefits, features, application requirements and other information that the product has to offer. When you’re done selecting for the right card, you can start the application process by clicking the “Go to site” button that is also available on the upper right side of the review page.

      I hope this helps,


  5. Default Gravatar
    Meaghan | February 11, 2016

    Can I call to speak to someone to compare credit card accounts

    • Staff
      Jonathan | February 11, 2016

      Hi Meaghan, thanks for your inquiry!

      You can reach us on 1300 FINDER (346 337) and one of the specialists from our credit cards team will be happy to assist you.



  6. Default Gravatar
    Kylie | February 3, 2016

    Hi i am in a situation where i am in need of 2000-5000 to pay for a solicitor as i don’t have the money. I am looking into credit cards that i can either afford by myself as i am on centrelink or one that my partner and i can get together with his income and mine. What would be the best way to go? As we have never applied for one before. Thank you

    • Staff
      Debbie | February 4, 2016

      Hi Kylie,

      Thanks for your question.
      Please note that you’ve come through finder.com.au and as a financial comparison service, we’re unable to recommend any specific product, service or strategy to our users as the ‘best’ option will always depend on the individual’s financial situation and needs.

      Whether you can apply for a credit card will depend on how much you earn per year and what type of Centrelink payments you receive.

      You might need to get in touch with the bank directly to confirm your likelihood of approval before applying.

      I hope this helps.


  7. Default Gravatar
    | November 19, 2015

    Do you no anyone that will help people on disability pensioner with below average credit score to get a low limit credit card with below average credit score to rebuild my credit rating and give me a second chance

    • Staff
      Jonathan | November 20, 2015

      Hi Rhys, thanks for your inquiry!

      You can compare low income credit cards here which have lower requirements than higher tier credit cards.



  8. Default Gravatar
    Shani | August 5, 2015

    I have an existing credit card with a balance of 9000.I am looking to transfer to a new card which has 0% on balance transfers and a low interest rate with 55 days interest free. I can pay the balance off in about 12 months or less

    • Staff
      Jonathan | August 6, 2015

      Hi Shani, thanks for your inquiry!

      Please refer to the this page for how much banks allow you to balance transfer to their credit cards. It is a key point to note no interest-free days will be awarded when you have an outstanding balance, so until your balance transfer debt has been fully cleared you will be unable to utilise this feature. You may like to compare balance transfer credit cards on this page.



  9. Default Gravatar
    Majella | July 26, 2015

    Is there a low rate credit card for pensioners?

    • Staff
      Jonathan | July 27, 2015

      Hi Majella, thanks for your inquiry!

      Credit card eligibility for pensioners depends on whether you meet the application requirements. Generally the bank/ lender will request a specific minimum income per year. If your primary form of income is through Centrelink/ pension benefits, contacting the bank before completing the application process to determine whether Centrelink qualifies as a form of income would be ideal.



  10. Default Gravatar
    Jenna | June 29, 2015

    I am traveling overseas for 12 months in Oct this year to the USA. I have loan approval for money I really don’t need the full amount of (or the stupidly high interest rate) someone suggested I get a low interest credit card to take with me or emergencies and small purchases?

    Can you suggest a low interest rate card I can use whilst overseas?

    • Staff
      Sally | June 29, 2015

      Hi Jenna,

      Thanks for your question.

      As a financial comparison service, we can’t actually suggest one particular product to our users.

      However, you may want to consider a card with no annual fee, no foreign transaction fees and no currency conversion fees.

      You can compare your options on our comparison page.

      I hope this has helped answer your question.



Credit Cards Comparison

Rates last updated May 24th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Take advantage of 0% p.a. for 18 months on balance transfers with a 1.5% BT fee. Plus, receive an exclusive $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $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 spent and receive an annual fee refund with minimum spend.
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. Also, enjoy an annual fee waiver in the first year.
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
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. 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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