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.
- Complimentary purchase insurance
- 0% balance transfer offer
- 24/7 fraud monitoring
- 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.
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.