MyState Financial Low Rate MasterCard

MyState Financial has been offering financial services to customers for nearly 50 years. They have designed a Low Rate credit card for their customers who are looking for a simple way to manage their personal finances.

Product NameMyState Financial Low Rate Mastercard
Balance transfer rate (p.a.)0% p.a. for 9 months
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)12.99% p.a.
Annual fee$49 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$25,000
Card TypeMastercard
Late Payment Fee$15
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Annual Fee$49 p.a.
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$15
Over Limit Fee$40
Cash Advance Fee$5
Overseas Cash Advance Fee$5
Gambling Transactions AllowedNo
Number of Additional Cardholders4
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

MyState Credit Card Rates

This credit card offers very competitive rates that will be very beneficial to customers that are looking for a cheap credit card that allows them to save money and help to pay off some of their debt.

With this card, you will have a 12.99% p.a. on purchases and a 21.74% p.a. rate for cash advances. Also, your annual fee will be $49. You will be able to add as many as 4 additional credit cards to your account for no charge.

What Else Will I Get With The MyState Financial Mastercard?

With the Gold card, you will be eligible to receive complimentary insurance that will cover you for interstate travel against flight cancellations and against lost, delayed or damaged luggage. You will also have complimentary overseas travel, and will be covered against any unexpected cancellations or delays, hospital and medical expenses, damage or loss of personal items and for the excess of your rental vehicle, and more. This insurance will cover you and your family.

In addition to all of this, you will have complimentary purchase cover for both the Silver and Gold cards. This covers items that you have purchased for a period of three months, and covers them against loss, theft or even damage. The items must be purchased with your MyState Low Rate Mastercard.

Is This Credit Card Right For Me?

As with every credit card, it is important that you find a card that is right for you. If you are able to pay your balances off every month, then yes, this card is a good option. This Low Rate Mastercard has competitive fees, great insurance and you can add additional cards for no charge.

But you do have to make sure that you are able to pay your balances every month, or the interest charges will be very high. If you do have current credit card debt, then you should consider using this credit card for its introductory balance transfer rate. It can help you reduce and even clear your credit card debt, so that you can regain control of your finances.

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6 Responses

  1. Default Gravatar
    mike16546April 14, 2015

    Hi, which is the best credit card?


    • Staff
      JonathanApril 14, 2015Staff

      Hi Mike16546, thanks for your inquiry!

      The best credit card would depend on your personal needs and situation. Please refer to the following link for a list of best credit cards depending on your needs.



  2. Default Gravatar
    RichardOctober 16, 2014

    can a debit card be used as a credit card or Vice Versa???

    • Staff
      ElizabethOctober 16, 2014Staff

      Hi Richard,

      Thanks for your question.

      You’re unable to use a debit card as a credit card as you have to have available funds to make purchases. With a credit card you can make purchases up to your approved credit limit with having no money directly loaded onto the card.

      I hope this has helped.



  3. Default Gravatar
    MarianAugust 25, 2014

    I need a credit card which will also cover myself and my husband for travel overseas.
    I notice that some of your cards mention travel insurance. Is there an age/medical limit on cover?
    I already have a MyState Silver coloured card.
    We are traveling to New Zealand in December and to Norfolk Island next June

Credit Cards Comparison

Rates last updated October 17th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Available in black or white, this no-fuss credit card offers the same rate on purchases and cash advances, plus card lock technology.

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* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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