Best low interest rate credit cards

Paying too much in interest each month? Compare 100+ low rate cards based on rates, fees and their Finder Scores.

1 - 8 of 112
Product Finder Score Purchase rate p.a. Interest-free period Balance transfer rate p.a. Annual fee
St.George Vertigo Card image
Finder score
Purchase rate p.a.
13.99%
Interest-free period
Up to 55 days on purchases
Balance transfer rate p.a.
0% for 24 months with 2% balance transfer fee, then 21.99%
Annual fee
$55
Get a 0% p.a. interest rate on balance transfers for 24 months (with a one-time 2% balance transfer fee).
Wizitcard image
Finder score
Purchase rate p.a.
0%
Interest-free period
Balance transfer rate p.a.
N/A
Annual fee
$0
0% interest, $19 monthly fee, fee waived if no card activity and no outstanding balance
Bankwest Breeze Platinum Mastercard image
Finder score
Purchase rate p.a.
12.99%
Interest-free period
Up to 55 days on purchases
Balance transfer rate p.a.
0% for 24 months with 3% balance transfer fee, then 12.99%
Annual fee
$59
Get 0% p.a. interest on balance transfers for 24 months (with a 3% balance transfer fee). Plus 0% foreign fees and complimentary overseas travel insurance.
Westpac Lite Card image
Finder score
Purchase rate p.a.
9.9%
Interest-free period
Up to 45 days on purchases
Balance transfer rate p.a.
N/A
Annual fee
$108
Save with 0% foreign transaction fees, a low interest rate on purchases and cashback offers through Westpac Extras.
Citi Clear Card - Limited Time Offer image
Finder score
Purchase rate p.a.
14.99%
Interest-free period
Up to 44 days on purchases
Balance transfer rate p.a.
0% for 20 months with 2% balance transfer fee, then 22.24%
Annual fee
$149
Offers 0% p.a. on balance transfers for 20 months with a one-time 2% balance transfer fee. Plus, get $10 cashback per month with BINGE.*
ANZ Low Rate - Credit Back Offer image
Finder score
Purchase rate p.a.
13.74%
Interest-free period
Up to 55 days on purchases
Balance transfer rate p.a.
21.99%
Annual fee
$58
Get $250 back on your card when you spend $1,500 on eligible purchases in the first 3 months.
Bankwest Breeze Classic Mastercard image
Finder score
Purchase rate p.a.
12.99%
Interest-free period
Up to 55 days on purchases
Balance transfer rate p.a.
0% for 24 months with 3% balance transfer fee, then 12.99%
Annual fee
$49
Save with 0% p.a. on balance transfers for 24 months (with a 3% BT fee).
Westpac Low Rate Card image
Finder score
Purchase rate p.a.
13.74%
Interest-free period
Up to 55 days on purchases
Balance transfer rate p.a.
0% for 24 months with 2% balance transfer fee, then 21.99%
Annual fee
$59
Save with a 0% p.a. interest rate on balance transfers for 24 months (with a 2% balance transfer fee). Plus, a low 13.74% p.a. purchase interest rate.
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Best low rate credit card offers for June

We've found you the market's best low interest rate credit cards based on their Finder Scores:

Finder's low rate credit score analyses hundreds of credit cards and ranks each card based on a combination of low rates, annual fees and the number of interest-free days.

Updated in June 2025 by Finder's money editor, Richard Whitten.

Must read: The lowest interest credit card in June 2025

Right now, the lowest rate credit card in Australia is the G&C Mutual Bank Low Rate Visa Card with an interest rate of 7.49%. There are some credit cards with 0% interest rates, but these are either introductory rates for a limited period, or cards with monthly fees and very low credit limits.

Here are some more of our top low rate credit cards, and why we like them.

Best Big 4 Bank low rate credit card: Westpac Lite

Westpac Lite Card

  • 0% Foreign Transaction Fees
  • $108 Annual fee
  • 9.9% Purchase rate

Why we like it

The 9.9% p.a. variable interest rate on purchases is much lower than the average standard credit card interest rate in Australia (currently 20.99% p.a.). This card charges 0% on foreign transaction fees, which can help you save around 2-3% compared to cards that charge a foreign transaction fee. Mobile payments through Apple Pay, Google Pay and Samsung Pay.
This card has a Finder Score of 9.47 in the low rate category.

Pros & cons

  • 0% foreign transaction fees
  • $0 fee for missed payments
  • Low purchase interest rate of 9.9% p.a.
  • 1 additional cardholder at no extra cost
  • Only offers up to 45 days interest-free on purchases as opposed to other cards that offer up to 55 days
  • No rewards points or complimentary insurances

Best low rate cashback credit card: St.George Vertigo

St.George Vertigo Card - Cashback Offer

  • Up to $500 Cashback Offer
  • $55 Annual fee
  • 13.99% Purchase rate

Why we like it

With this card you'll get 10% cashback when you shop at major supermarkets and petrol stations for the first 180 days, capped at a total of $500.
This is also a low rate card, and both the 13.99% p.a. interest rate for purchases and the $55 annual fee are quite competitive compared to similar offers on the market.

Pros & cons

  • Up to $500 cashback offer
  • Low $55 annual fee
  • Shopping cashbacks through ShopBack
  • Competitive purchase interest rate of 13.99% p.a.
  • Finder Score of 9.9 in the cashback category
  • Cashback offer could make it tempting to spend more than usual
  • No rewards program
  • Does not offer travel perks or insurance covers

Best low rate no annual fee credit card: American Express Low Rate

American Express Low Rate Credit Card

  • Low Rate & No Annual Fee
  • $0 Annual fee
  • 10.99% Purchase rate

Why we like it

There is no annual fee for this card at all. It also has a low purchase rate and comes with complimentary card purchase cover.
This card has a Finder Score of 9.41 in the low rate category.

Pros & cons

  • Low 10.99% p.a. interest rate for purchases
  • Ongoing $0 annual fee
  • Up to 4 additional cards
  • Complimentary card purchase cover and card refund cover
  • $30 late payment fee if you miss your minimum repayment
  • 3% foreign currency conversion fee
  • No rewards program

What is a low interest rate on a credit card?

In Australia anything under 15% is a fairly low purchase rate for a credit card. Some cards have interest rates as low as 8% or as high as 22%.

Some cards even offer 0% interest rates, but those are usually introductory offers that revert to a much higher rate after 6 months.

A low rate credit card gives you a way to spend money and then pay it off over time without getting hit with high interest rate charges.

2 ways to avoid or minimise interest charges on a credit card

  1. Pay the card off completely each month and pay no interest at all. Any credit card becomes a 0% interest rate card if you pay your spending off in full before interest charges kick in.
  2. Get a low rate credit card and pay it off as quickly as you can. If you can't afford to pay off your card spending fully, a low or 0% rate is the next best option. This lets you pay the card spending off over time while minimising the interest charges.
Average credit card interest rates in Australia
Excluding 0% card offers, the average credit card purchase rate in Australia is 17.15%, according to Finder's database. The highest purchase rate is 27.99% and the lowest rate is 7.49%.
Source: Finder's database of over 250 credit cards

Why do people use low rate credit cards?

You can't afford to pay off your card spending in full

Sometimes in life it just isn't possible to pay off your card spending each month before you start getting charged interest. Life is expensive.

If you frequently find you spend more than you earn, you may be in deeper financial trouble long term. But it can't be helped sometimes, and a low rate credit card helps you cut down those interest costs.

You need to repay card debt via a balance transfer

The second scenario where people really need a low interest rate credit card is when their existing card spending has gotten them into trouble. That's a where a balance transfer can help.

A good balance transfer credit card offer gives you 0% or very low interest charges for 24 months (or more) on your existing credit card debt. You move the unpaid balance from the old card onto the new one, cancel the old one and then start paying it back.

What about 0% interest rate cards?

There are also cards that offer a 0% purchase interest rate. Some cards give you 0% for 6 months, others charge a monthly fee instead interest.

These cards are useful if you have large purchases, like a holiday, wedding or renovation coming up. You can spend now and pay it off over time without interest charges.

You just need to watch out for:

  • The revert rate. Some credit cards give you 0% for 6 months. But on month 7 the rate jumps up to 20%. If you haven't paid off your spending, you're suddenly looking at big interest charges.
  • The fees. Some of these cards never charge interest but do charge an ongoing fee. This fee could be small but still end up costing more than interest charges over a few months.

Pros and cons of low rate credit cards

Pros

  • You pay less interest. Low rate credit cards can be a cheaper option as you pay less interest on purchases, which will help you save money and avoid falling into unmanageable debt.
  • You save on fees. Many low interest rate credit cards also have lower annual fees, which helps you save even more money.
  • You can get promotional offers. Low interest rate credit cards sometimes offer 0% promotions on purchases and/or balance transfers, allowing you to avoid interest altogether for an introductory period.

Cons

  • You get fewer rewards. Low rate credit cards tend to have fewer or no rewards or perks, compared to higher rate, premium rewards and frequent flyer cards.
  • You get fewer extra features. Lower rates generally mean fewer extra features, unlike platinum cards which often come with complimentary insurance options, cashbacks, concierge services and more.
  • Watch out for revert rates. If your card offers 0% interest on purchases for a promotional period, it will revert to a higher purchase rate that could be up to 26.99% p.a.

How much can you save with a lower rate?

Most Australians pay their credit cards in full each month. This means they don't get charged any interest on their spending.

But Australians with an unpaid credit card balance have on average $1,655. Let's look at how much interest you end up paying on this balance with different interest rates (assuming you take 12 months to pay off the card:

BalanceInterest rateMonthly payments (over 12 months)Total interest charged
$1,6559.0%$144.73$81.79
$1,65512.0%$147.04$109.54
$1,65515.0%$149.38$137.53
$1,65517.0%$150.94$156.33
$1,65520.0%$153.31$184.72

The difference between a 20% interest rate and a 9% rate is over $100 in interest over 12 months.

How to compare low interest rate credit cards

With so many competitive low interest rate credit cards on the market, here are some of the features that can help you narrow down your options:

  1. Compare interest rates. The lower the interest rate the better. Below 15% is good, below 10% is very good. If a card offers a 0% promotional rate, check how long it lasts and remember that it will be much higher after this period ends. Some 0% cards jump to 20% after 6 months!
  2. Look at the card's annual fee. Low rate cards have annual fees of around $59 on the lower end but can go as high as $200. The lower the better, but cards with higher fees may offer useful features and perks. There are also some cards that offer $0 annual fee for the first year or for life.
  3. Factor in other fees. If you use your card for foreign currency or overseas purchases (including online), you will usually be charged a foreign transaction fee of around 2-3.5%. But certain credit cards are more tailored to international use and offer 0% foreign transactions fees.
  4. Compare perks and features. Some low rate cards also come with cashback offers, although you'll usually need to meet a certain spend requirement to get the money back. Some low rate cards offer you complimentary travel insurance and purchase cover.

What perks and benefits can you get with these credit cards?

Let's be clear: low rate credit cards are not the best cards for points, perks and other benefits. Those cards have higher rates and higher annual fees.

But the best low rate cards often come with decent benefits at the price point, such as:

  • Cashbacks. Quite a few of the top scoring low rate cards in Finder's database offer some form of cashback on your spending. Cashbacks usually give you, say, 10% back on eligible spending, capped at a certain amount. This can save you a few hundred dollars.
  • 0% balance transfers. Low rate cards often have some of the best 0% balance transfer deals. Just keep in mind that a balance transfer customer needs to focus on paying off existing debt rather than adding to it with more spending. So the low purchase rate doesn't matter as much because you should be paying the balance transfer off.
  • 0% foreign transaction fees. A few low rate cards offer 0% foreign transaction/international transaction fees, which saves you money when travelling or shopping overseas.
  • Complimentary insurance cover. While low rate cards are far less likely to offer complimentary travel insurance, some cards do offer this, or other types of cover like purchase protection insurance.

The bottom line

If you often carry over a balance from one month to the next, a low interest credit card could help you save on interest charges. While there is no "best" low rate care, the mix of credit cards available in Australia means you can compare credit card offers and features to help find a card that you want.

2025 Finder Awards for Low Rate Credit Cards

Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. Here are the top performing low rate credit cards.

Best Low Rate Credit Card: G&C Mutual Bank Low Rate Visa Credit Card

Best Low Rate Credit Card badge

G&C Mutual Bank's Low Rate Visa Credit Card is the winner of this year's low rate credit card award. It has, you guessed it, a very low interest rate. Plus a low annual fee.

Highly commended

Community First Low Rate Credit Card

The Community First Low Rate Credit Card takes a highly commended spot in the low rate category. It combines a low rate with a competitive annual fee.

Easy Street Easy Low Rate Visa credit card

Easy Street's Easy Low Rate Visa credit card also finishes highly commended. It has the same competitive offer as Community First.

Illawarra Credit Union Low Rate Credit Card

The Low Rate Credit Card from Illawarra Credit Union is highly commended in the low rate category. It has a competitive rate and a $0 annual fee for the first year.

Frequently asked questions

Sarah Megginson's headshot
To make sure you get accurate and helpful information, this guide has been edited by Sarah Megginson as part of our fact-checking process.
Richard Whitten's headshot
Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise
Richard has written 629 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

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70 Responses

    Default Gravatar
    Billie-joFebruary 5, 2025

    Hi, I’m worried that by applying for credit cards will reduce my score ,I am on Centrelink and feel maybe there is no point trying as I always get rejected.i only wish to have a credit card as it’s getting harder in this economy and would like to have one as a bit of security incase I need a bit extra .with my score is there any point trying or should I stop applying and accept that my income is just never going to be accepted.please help

      AvatarFinder
      AngusFebruary 6, 2025Finder

      Hi Billie-Jo, I’d recommend checking our guide to credit cards for people on Centrelink for more on this topic. But you’re right that making multiple unsuccessful credit card applications can reduce your credit score. Realistically, if your Centrelink payment is largely used for basic living expenses (rent+food+transport) then you’re unlikely to be approved for a credit card. It’s also worth remembering that while a credit card can be a useful emergency option, you’ll have to pay the annual fee up front. Hope this helps.

    Default Gravatar
    JamesOctober 26, 2023

    hi i’m trying to find a best credit card that suits me , first time holder I never hold one in my life .

      AvatarFinder
      AmyOctober 27, 2023Finder

      Hi James,
      It’s helpful to consider what’s important to you when choosing a credit card. For example, a low rate credit card can help you save on interest charges if you want to pay off spending over time. A card with low fees or no annual fee could also help keep account costs down. Rewards and extras like complimentary insurance are also features you may want to consider. Finder’s guide to credit cards has more details about the different types of cards and what else to consider. I hope this helps.

    Default Gravatar
    JadeSeptember 3, 2019

    Are there any credit cards available for people on disability pension Centrelink please?

      Default GravatarFinder
      JeniSeptember 4, 2019Finder

      Hi Jade,

      Thank you for getting in touch with Finder.

      You can start comparing credit cards for pensioners and retirees. I suggest that you contact your chosen bank or credit card issuer before submitting your online application to know your chances of getting approved.

      Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you. When you are ready, press the ‘Go to site’ button to apply.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    sueFebruary 24, 2019

    Am I better off to get a personal loan to pay credit cards off and get extra money for travel /

    would like to consolidate credit card debt and have some money for travel

      Default GravatarFinder
      JohnFebruary 25, 2019Finder

      Hi Sue,

      Thank you for reaching out to Finder.

      Depending on how much you would require to consolidate your debt as well as have a bit of extra for travel, a personal loan would be able to help you achieve this. You would not be able to have the extra cash when you use a different method in consolidating your debt. You may refer to our list of personal loan. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before deciding on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    willardDecember 20, 2018

    what card would be best for people on s.s?

      Default GravatarFinder
      JohnDecember 20, 2018Finder

      Hi Willard,

      Thank you for reaching out to finder.

      While we do not provide specific product recommendations, we can help guide you through the process of comparing options. You may want to check our page on “Credit cards for retired and pensioner applicants”. The page will also advise you of what documents to provide during the application process. Please click here to be routed to that page. Hope this helps!

      Cheers,
      Reggie

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