Low Rate Mastercard

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Basic

Card Level
Card Level
Gold
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$2,000
Minimum repayment dollars
Minimum repayment dollars
$30
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
4
Annual Fee
Annual Fee
$99
for 12 months then $75
Late Payment Fee
Late Payment Fee
$10
Over limit fee
Over limit fee
$40
Duplicate statement fee
Duplicate statement fee
$7
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Gold
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$2,000
Minimum repayment dollars
Minimum repayment dollars
$30
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
4
Annual Fee
Annual Fee
$99
for 12 months then $75
Late Payment Fee
Late Payment Fee
$10
Over limit fee
Over limit fee
$40
Duplicate statement fee
Duplicate statement fee
$7
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
12.99%
Cash advance rate
Cash advance rate
21.74%
Purchase Rate
Purchase Rate
12.99%
Cash advance rate
Cash advance rate
21.74%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 12 months then 21.74%
Transfer Limit
Transfer Limit
80%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
0%
for 12 months then 21.74%
Transfer Limit
Transfer Limit
80%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3.4% on MasterCard
Overseas charges
Overseas charges
$5
Estimated ATM Cost
Estimated ATM Cost
Foreign Exchange Fee
Foreign Exchange Fee
3.4% on MasterCard
Overseas charges
Overseas charges
$5
Estimated ATM Cost
Estimated ATM Cost

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$25,000
Eligibility conditions
Eligibility conditions
An email address that can be provided upon application
Minimum age
Minimum age
18
Minimum income
Minimum income
$25,000
Eligibility conditions
Eligibility conditions
An email address that can be provided upon application

Perks

  • Price Guarantee
  • Purchase Protection
  • Free Supplementary Cards

Features

The IMB Bank Low Rate Mastercard is a credit card with a moderate annual fee, moderately low interest rates and a moderate number of interest-free days. The card has an introductory offer of 0 per cent interest on balance transfers for the first 12 months for customers looking to transfer existing debt. After the offer has expired, balance transfers will be charged at the card’s standard interest rates.

This credit card does not have an associated rewards scheme, which means that card holders do not receive points, cash back or frequent flyer miles on eligible purchases. However, card holders do receive complimentary purchase cover insurance and a guaranteed pricing scheme.

The IMB Bank Low Rate Mastercard is protected by Fraudshield, which offers 24/7 fraud monitoring.  Fraudshield works to defend against unauthorised and fraudulent transactions on your card.

Pros
  • Complimentary purchase insurance
  • 0% balance transfer offer
  • 24/7 fraud monitoring
Cons
  • Charges an annual fee
  • No rewards scheme
  • No frequent flyer points

  

Who is it good for?

The IMB Bank Low Rate Mastercard may suit budget card holders who struggle to clear their credit card debt each month. The card has moderately low interest rates and a moderate interest-free period when customers pay their balance in full for two consecutive months.

This card may also be beneficial for customers who need to transfer existing debt. The IMB Bank Low Rate Mastercard has an introductory offer of 0 per cent interest on balance transfers for the first 12 months. After this deal has ended, customers will be charged the card’s cash advance interest rates.

The IMB Bank Low Rate Mastercard is not well suited to those who want to be rewarded for their spending. This card does not offer any points or frequent flyer perks on eligible purchases.

What RateCity says

The IMB Bank Low Rate Mastercard may be a reasonable choice for customers who want to transfer their existing debt to a new account. However, this card offers little advantage to customers who will not take advantage of the balance transfer deal.

While this card has moderately low interest days and a moderate interest-free period, budget card holders may be able to find cards with comparable rates and more benefits. Card holders who are confident about paying their bill in full each month might consider a card with similar rates, but with the addition of a rewards program.

The IMB Bank Low Rate Mastercard also charges a moderate annual fee, which may deter those who wish to minimise credit card costs. These types of card holders should consider a no-annual-fee credit card that suits their preferences. 

Applying/eligibility

Customers can apply for the IMB Bank Low Rate Mastercard through a secure online application. To be eligible, you must be at least 18 years old and hold either Australian citizenship or permanent resident status. The IMB Bank Low Rate Mastercard application will require your contact information, employment details and financial liabilities. You may also be required to submit a form of photo ID, such as an Australian driver’s licence or passport.

About IMB Bank

IMB Bank is the oldest building society in New South Wales, delivering a range of financial services to Australians for over 135 years. Their offering includes home and personal lending, bank accounts, credit cards, term deposits, business banking and financial planning services. IMB Bank is customer-owned, with members from across the country. Members enjoy access to automated phone and internet banking to help manage their finances. IMB Bank was founded in 1880.

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