First Option Low Rate Credit Card
Reduce your interest costs with a low purchase rate with the First Option Low Rate credit card.
The First Option Low Rate credit card boasts a low 9.99% interest rate on purchases. This card also offers up to 45 interest-free days, Visa perks and can be linked to Apple Pay, Google Pay or Samsung Pay.
Balance transfer rate
Interest free period
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|Product Name||First Option Low Rate Visa Credit Card|
|Balance transfer rate||9.99% p.a.|
|Purchase rate||9.99% p.a.|
|Interest-free period||45 days|
|Cash advance rate||17.99% p.a.|
|Min credit limit||$500|
|Foreign currency conversion fee||2%|
|Available to temporary residents||No|
- Low variable purchase rate of 9.99% p.a.
- No fee for additional cardholders
- No late payment fees
- Offers 45 days interest-free on purchases, compared to other cards that offer up to 55 days
|Minimum monthly repayment||3% of the closing balance or $25, whichever is greater|
|Late payment fee||$0|
|Foreign currency conversion fee||2%|
|Overseas cash advance fee||$175|
|Overseas ATM withdrawal fee||$0|
|Additional cardholder fee||$0|
Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.
The First Option Low Rate credit card has one of the lowest standard purchase interest rates on the market. If you regularly carry a balance from month to month, this card could help you cut your card costs compared to other options. Like most low rate credit cards, this card doesn’t offer loads of extra features.
How to apply
You can apply for the First Option Low Rate credit card online, but you should check if you meet the eligibility requirements and that you have the necessary information to complete the application first.
- Age. You must be at least 18 years old to apply.
- Credit history. You'll need to have a good credit history to receive approval.
- Residency. This card is available to Australian residents and citizens.
- Personal details. This includes your full name, date of birth, residential address, driver's licence number, number of dependents and contact information.
- Employment. You'll need to confirm your employment status and list your occupation, the name of your employer and your employer's address. You'll also need to confirm your after tax income.
- Finances. You'll be asked to list the value of your assets (including property, investments, savings and shares), your living expenses and any liabilities (such as other credit cards or loans).
- Low interest rate. This card charges a 9.99% p.a. interest rate on purchases.
- Visa benefits. You can use your card at millions of worldwide locations wherever Visa is accepted and take advantage of exclusive discounts and deals through Visa Offers and Perks.
Rates & fees
- Annual fee. This card charges a standard annual fee of $48.
- Cash advances. If you use your card to make a cash advance (such as an ATM withdrawal), you'll attract the 17.99% p.a. interest rate and will be charged a cash advance fee.
- Interest-free days. When you pay your balance in full by the statement due date, you can take advantage of up to 45 interest-free days on purchases.
- Additional cardholder. You can request additional cardholders at no extra charge.