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Our verdict

Offers a low interest rate of 8.99% p.a. and a $0 annual fee in the first year, which goes to $59 p.a. after that.

The 8.99% p.a. purchase rate on this credit card from MOVE Bank is competitive with other low rate cards. The same goes for the annual fee, which is waived in the first year and then reverts to $59 p.a. It also offers up to 45 days interest-free on purchases when you pay the balance in full by the due date on each statement and has a 12.99% p.a. cash advance rate that is on the lower end of the scale.

If you have never heard of MOVE Bank, it is a member-owned bank based in Brisbane and was previously known as the Railways Credit Union. It offers shareholder membership to people working in rail, transport or logistics industry (and their relatives), but you can also apply for products as a non-shareholder member.

Pros

0% p.a. on balance transfers for 6 months
$0 annual fee for the first year ($59 p.a. thereafter)
Ongoing low purchase interest rate of 8.99% p.a.

Cons

Does not offer a rewards program or travel insurance covers
Only offers up to 45 days interest-free on purchases, as opposed to most cards with 55 days

The MOVE Bank Low Rate credit card also offers an introductory 0% p.a. on balance transfers for the first 6 months when you request a balance transfer at the time of your application.

At the end of the introductory period, any remaining balance transfer debt will attract the card's 8.99% p.a. variable purchase rate.

Details

Product details

Product Name	MOVE Bank Low Rate Credit Card
Balance transfer rate p.a.	0% for 6 months, then 8.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	8.99%
Interest-free period	Up to 45 days on purchases
Cash advance rate p.a.	12.99%
Min credit limit	$1,000
Max credit limit	$25,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$0 first year ($59 after)
Minimum monthly repayment	3% of the closing balance or $20, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	2%
Cash advance fee	$5

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Well done, MOVE!

The MOVE Bank Low Rate Credit Card had strong scores for its 8.99% purchase rate and $0 first-year annual fee during the analysis period. Its $59 annual fee after the first year is also relatively low. Like the winner and other highly commended card in this category for 2024, MOVE Bank is member-owned.

Full list of 2024 winners

How to apply

You can apply for the MOVE Bank Low Rate credit card online in around 10 minutes. Get started by making sure you meet the eligibility criteria and have all the required documents and details on hand.

Eligibility criteria

Residency status. You must be a permanent resident of Australia to apply for this card.
Age. You must be at least 18 years of age.

Required documents

Personal details. This includes your full name, date of birth, residential address, email address, phone number and marital status. You also need to provide a valid form of ID, such as your driver's license, passport or Medicare card number.
Employment details. This covers your current work situation, including your salary, job title and your employer's contact details. You may also need to provide recent payslips to verify these details.
Financial details. As well as your salary, provide details of any other forms of income, savings and other assets. You also need to share information about existing debts including cards and loans, as well as your share of regular household expenses.
Balance transfer details. If you want to transfer existing credit card debt to this card, you will need to provide details of the account and the amount you want to transfer. Note that balance transfers are subject to approval and MOVE Bank will allow you to transfer up to a maximum of 80% of your new card's approved credit limit.

Card benefits

8.99% p.a. purchase rate. The low variable interest rate on this card applies to new purchases, as well as any balance transfer debt that remains at the end of the introductory period.
0% p.a. balance transfer rate. Apply for this card and request a balance transfer at the time of your application and you'll enjoy 0% p.a. interest on the transferred debt for the first 6 months. With this card, you can balance transfer a minimum of $500 and up to 80% of your approved credit limit from credit cards issued by other lenders. The introductory period will begin on the date the balance transfer is approved. Note that interest-free days do not apply when you carry a balance transfer debt.

Up to 45 days interest-free on purchases. If you pay the total closing balance by the due date on your statement, you can take advantage of up to 45 days interest-free on purchases. This interest-free period starts at the beginning of your statement period and ends on the due date listed on the next statement.
Visa benefits. This card allows you to make purchases in-person, online or over the phone all around the world, anywhere Visa is accepted. It also offers tap-and-go payments through Visa payWave. Plus, enjoy exclusive offers on entertainment, shopping, dining and more through Visa Offers + Perks.
Security. You can update your card PIN and block or permanently cancel stolen cards through the MOVE Bank app or Internet banking service. You can also get 24/7 support for lost or stolen cards through the Visa network by calling the number on the back of your card.

Rates & fees

Annual fee. This card offers a $0 annual fee in the first year, which goes to $59 p.a. after that.
Overseas transaction fee. A fee of 2% applies when you use this card overseas or online with the retailer that is based overseas.

Cash advances. If you use this card to withdraw cash or for any other cash advance transactions, a cash advance fee of $5 will apply. You will also be charged the 12.99% p.a. cash advance interest rate from the time of the transaction, as interest-free days do not apply to cash advances.

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MOVE Bank Low Rate credit card

Pros

Cons

Well done, MOVE!

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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