Low interest rate credit cards


In a report released by the Reserve Bank of Australia (July 2007), Australians withdrew a massive AU$1 billion in cash advances on their credit cards. According to these figures the average Australian would have clocked up approximately AU$3,000 in credit card debt alone. So it's no suprised that over the next eighteen months the average credit card interest rate is predicted to rise to 19%.

In an attempt to stay in such a competitive market, credit card providers are now offering special incentives to customers. These include 0% balance transfers, rewards programs and attractive ongoing interest rates.

By offering a lower rate, financial institutions are losing out on revenue and this lost expense needs to be recouped somehow. Look out for:
  • Annual fees: higher annual fees than standard-rate cards
  • Cash advance rate: can be up to 10% higher than the rate for purchases
  • Late payment fees
  • Fees for exceeding credit limit
  • Other fees and charges: ATM transaction fees
  • Limited additional features: no insurance or emergency assistance
When it comes to low rates and borrwing money, it's hard not to walk past a rate of 0%. You should remember that while these loans are technically temporarily interest-free, they do have to be repaid and for it to be truly interest-free, the debt needs to be repaid before the introductory period expires.

Paying by credit should always be used wisely which is why it pays to be familiar with the different characteristics of the various types of low interest credit cards. Choosing the right mix of interest rate, fees and features for you and work to your benefit.

Some of the cheapest card rates in Australia are avaliable with Bankwest, St George, Aussie Home Loans, Citibank and Defcredit.

Related Products

Product Annual fees Rate Free Days Max limit Apply
St George Bank Starts Low Stays Low MCD $69.00 12.99% 55 $0.00 Apply
St George Bank Starts Low Stays Low MCD $69.00 12.99% 55 $0.00 Apply
BankWest Lite MasterCard $59.00 11.79% 55 $25000.00 Apply
St George Bank Starts Low Stays LowVisa $69.00 12.99% 55 $0.00 Apply
St George Bank Starts Low Stays LowVisa $69.00 12.99% 55 $0.00 Apply
Citibank Clear Card $65.00 12.49% 55 $15000.00 Apply
Citibank Clear Card $65.00 12.49% 55 $15000.00 Apply
Australian Defence CU Visa Credit Card $36.00 13.30% 55 $0.00 Apply
Australian Defence CU Visa Credit Card $36.00 13.30% 55 $0.00 Apply
Aussie Home Loans Aussie MasterCard $49.00 11.99% 55 $15000.00 Apply
Aussie Home Loans Aussie MasterCard $49.00 11.99% 55 $15000.00 Apply
Qantas Staff CU Lifestyle $0.00 12.75% 0 $50000.00 Apply
Qantas Staff CU Lifestyle $0.00 12.75% 0 $50000.00 Apply
Westpac Low Rate Visa Card $45.00 13.24% 55 $30000.00 Apply
Westpac Low Rate Visa Card $45.00 13.24% 55 $30000.00 Apply
Westpac Low Rate MasterCard $45.00 13.24% 55 $30000.00 Apply
Westpac Low Rate MasterCard $45.00 13.24% 55 $30000.00 Apply
nab Low Rate Visa Card $49.00 12.70% 55 $0.00 Apply
nab Low Rate Visa Card $49.00 12.70% 55 $0.00 Apply
Defence Force CU True Blue Credit Card $36.00 12.49% 55 $25000.00 Apply
Defence Force CU True Blue Credit Card $36.00 12.49% 55 $25000.00 Apply
Commonwealth Bank Low Rate Visa $48.00 13.24% 55 $0.00 Apply
Commonwealth Bank Low Rate Visa $48.00 13.24% 55 $0.00 Apply
Commonwealth Bank Low Rate MasterCard $48.00 13.24% 55 $0.00 Apply
Commonwealth Bank Low Rate MasterCard $48.00 13.24% 55 $0.00 Apply
St George Bank Vertigo Credit Card $55.00 11.89% 55 $0.00 Apply
St George Bank Vertigo Credit Card $55.00 11.89% 55 $0.00 Apply
ANZ Balance Visa $79.00 13.99% 55 $15000.00 Apply
ANZ Balance Visa $79.00 13.99% 55 $15000.00 Apply
Hume Building Society Value $0.00 13.40% 26 $20000.00 Apply