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.

9.99% p.a.

Balance transfer rate

9.99% p.a.

Purchase rate

$48 p.a.

Annual fee

45 days

Interest free period

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Product NameFirst Option Low Rate Visa Credit Card
Balance transfer rate9.99% p.a.
Purchase rate9.99% p.a.
Annual fee$48
Interest-free periodUp to 45 days on purchases
Cash advance rate17.99% p.a.
Min credit limit$500
Card typeVisa
Foreign currency conversion fee2%
Available to temporary residentsNo
Joint applicationNo


  • 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
Bonus pointsN/A
Annual fee$48
Minimum monthly repayment3% of the closing balance or $25, whichever is greater
Late payment fee$0
Foreign currency conversion fee2%
Overseas cash advance fee$175
Overseas ATM withdrawal fee$0
Additional cardholder fee$0

Review by

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

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.

Eligibility criteria

  • 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.

Card benefits

  • 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.

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