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Low Rate Credit Card



Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



  • Free Supplementary Cards
  • Purchase Protection Covers up to $50,000 per year
  • Price Guarantee If you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 60 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is more than $75.


The RACQ Bank Low Rate Credit Card features a moderately low interest rate, a moderately low annual fee and a low late payment fee. It also has a moderate number of interest-free days.

Complimentary purchase cover insurance is included with this card, which provides cover against accidental damage, theft or loss of certain personal goods bought in Australia or overseas. Guaranteed pricing cover is also included, which allows cardholders to claim back the difference on purchases made if the item is found later at a cheaper price (conditions apply).

For those wanting to move across existing debt from another card, this card’s balance transfer deal offers 0 per cent interest for a limited time. Four additional cardholders are also allowed at no extra cost.

In terms of security, customers are protected by Fraudshield’s 24/7 monitoring of suspicious activity.

  • Moderately low interest rate
  • Moderately low annual fee
  • Balance transfer offer
  • No rewards program
  • High international spending fees
  • No complimentary travel insurance

Who is it good for?

The RACQ Bank Low Rate Credit Card may be a suitable option for people who use their credit card relatively infrequently and/or don’t always manage to pay off their balance during the interest-free period.

It may also suit couples, families and other people looking to share an account as it allows four free supplementary cards.

Additionally, those wanting to pay off existing debt without having to pay interest would benefit from this card’s introductory balance transfer deal.

On the other hand, regular travellers probably wouldn’t be a good fit for this card as it comes with high international spending charges and lacks a frequent flyer program.

Similarly, big spenders with the ability to pay off debt in full on a monthly basis would likely find more appropriate options elsewhere as the RACQ Bank Low Rate Credit Card doesn’t come with any rewards for spending.

What RateCity says

The RACQ Bank Low Rate Credit Card has the standard features you might expect from a low-rate card – such as a moderately low interest rate and annual fee. It also has attractive benefits like complimentary purchase protection insurance and guaranteed pricing cover.

The balance transfer deal is also likely to be a big drawcard for people who are struggling to pay off existing debt due to high interest rates.

But if the main advantage you’re looking for in a credit card is a low purchase interest rate, it’s worth noting that this card’s interest rate isn’t the lowest on the market.

Conversely, if you tend to spend a lot on your credit card and pay it off in full each month without issue, it may be worth shopping around for a card that offers rewards and/or bonus points for spending.


To be eligible for the RACQ Bank Low Rate Credit Card, you must be at least 18 years of age, have a good credit rating and earn at least $25,000 a year. To apply, you will need to provide proof of your identity (such as a driver’s licence or passport), as well as details about your employment, income, assets, expenses and liabilities. You can apply online or at one of the RACQ branches throughout Queensland.

About RACQ

Royal Automobile Club of Queensland, commonly known as RACQ, is a Queensland-based mutual organisation providing roadside assistance, car insurance, boat insurance and other services to its members. It also provides banking products such as bank accounts, savings accounts, personal loans, home loans and credit cards. RACQ members can manage their banking needs online through internet banking, via the RACQ app or phone banking line, or by visiting a RACQ branch.

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