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Finder Awards 2020 Best Low Rate Credit Card

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This card offers an 8.99% p.a. purchase interest rate, up to 55 days interest-free and an ongoing $0 annual fee.


Methodology: Best Low Rate Credit Card

Here's how our expert analysts assessed the Best Low Rate Credit Card category to pick the 2020 winner.

Selection and scoring

Products were selected from the broader market that met these criteria:

  • The interest rate must be 15% or under
  • Temporary low rates not included
  • Cards must not require loans or specific amounts of savings as eligibility criteria

Scores were awarded out of 10 for each product metric, based on how each metric compares to the other products in a given category.

Scores for each metric were then weighted:

  • Annual fee: 20%, taking into account discounted first-year fees (12%) and second-year fees (8%) if applicable, but not returned fees with a minimum spend such as ANZ
  • Purchase interest rate: 70%
  • Interest-free days: 10%

In the case of a tie, cards that donate part of the annual fee to charity will rank higher.

Availability criteria

Product must be available at the time of award announcement.
Products were analysed and compared to the market on the following dates:

  • 1/9/19 (Q1)
  • 1/12/19 (Q2)
  • 29/2/20 (Q3)
  • 32/5/20 (Q4)

Products must have been in the market for at least two of the four quarters, including the most recent quarter.
Quarters were weighted as follows unless otherwise stated (with Q4 being the most recent quarter):

  • Q4: 50% of final score
  • Q3: 25% of final score
  • Q2: 12.5% of final score
  • Q1: 12.5% of final score

For products only available in three quarters, the weighting is as follows:

  • Q4: 50% of final score
  • Q3: 35% of final score
  • Q2: 15% of final score

For products only available in two quarters, the weighting is as follows:

  • Q4: 60% of final score
  • Q3: 40% of final score

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