Amex, Westpac and CBA all offering low-rate credit cards


Nick Bendel
Oct 7, 2018( 2 min read )

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There are a dozen different credit card providers offering cards with interest rates under 10 per cent, an analysis of the credit card market has found.

American Express, Community First Credit Union and Easy Street Financial Services all have credit cards that charge 8.99 per cent interest and offer an interest-free period of up to 55 days (see table below).

Northern Inland Credit Union also has a credit card with a purchase rate of 8.99 per cent, however this credit card does not have an interest-free period.

Commonwealth Bank and Westpac also offer low-rate credit cards.

The CBA Essentials credit card has an interest rate of 9.90 per cent and an interest-free period of up to 55 days, while the Westpac Lite Card charges 9.90 per cent interest and offers up to 45 days interest-free.

Auswide Bank, Bank Australia, Bank First, Bank of Us, Big Sky Building Society and G&C Mutual Bank also have credit cards with interest rates under 10 per cent.

Provider Product Interest rate Interest-free days Annual fee
American Express Low Rate Credit Card 8.99% 55 $0
Community First Credit Union Low Rate Visa Credit Card 8.99% 55 $40
Community First Credit Union McGrath Pink Visa Card 8.99% 55 $40
Easy Street Financial Services Easy Low Rate Visa Credit Card 8.99% 55 $40
Northern Inland Credit Union Low Rate Visa Credit Card 8.99% 0 $0
Bank Australia Low Rate Visa Credit Card 9.39% 0 $59
Auswide Bank Low Rate Visa Card 9.45% 55 $50
G&C Mutual Bank Low Rate Visa Credit Card 9.49% 50 $50
Bank of Us Visa Credit Card 9.90% 57 $39
Commonwealth Bank Essentials 9.90% 55 $60
Big Sky Building Society Low Rate Visa Credit Card 9.90% 45 $59
Bank First Visa Platinum Credit Card 9.90% 55 $99
Westpac Lite Card 9.90% 45 $108
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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