Compare low interest credit cards
Low rate cards charge less interest on purchases than rewards or low-fee cards. They suit people who don’t always clear the full balance each month.
| Card | Purchase rate | Cash advance rate | Card fee | Interest-free days | Minimum credit limit | Link |
|---|---|---|---|---|---|---|
| American Express Low Rate Credit Card | 10.99% p.a. | See American Express site | $0 | Up to 55 | Not published | View on American Express site |
| CommBank Low Rate Credit Card | 10.99% to 15.99% p.a. (personalised on approval) | 21.99% p.a. | $6 a month ($72 a year) | Up to 55 | $500 | View on CommBank site |
| Bankwest Breeze Platinum Mastercard | 12.99% p.a. | 21.99% p.a. | $59 a year | Up to 55 | $1,000 | View on Bankwest site |
| ANZ Low Rate | 13.74% p.a. | 23.49% p.a. | $58 a year | Up to 55 | $1,000 | View on ANZ site |
| Westpac Low Rate Card | 13.74% p.a. | 21.99% p.a. | $7 a month ($84 a year) | Up to 55 | $500 | View on Westpac site |
| NAB Low Rate Card | 13.99% p.a. | 22.99% p.a. | $99 a year | Up to 55 | $1,000 | View on NAB site |
| St.George Vertigo | 13.99% p.a. | 21.99% p.a. | $7 a month ($84 a year) | Up to 55 | $500 | View on St.George site |
CommBank sets a personalised rate within its range when it approves you, so your rate may be at the top of the range. Rates are variable.
How much difference does the rate make?
As a rough guide, a $3,000 balance carried for a full year costs about $420 in interest at 13.99% p.a., compared with about $675 at 22.49% p.a. (the purchase rate on several rewards and low-fee cards). The more often you carry a balance, the more the rate matters and the less the perks do.
What to compare
The fee as well as the rate
A monthly fee of $6 or $7 adds up to $72 or $84 a year. Fees on the cards above range from $0 to $99 a year, so check the fee alongside the rate.
The cash advance rate
Cash withdrawals, gambling transactions and some transfers are charged at the cash advance rate, and interest-free days don’t apply to them. On the bank cards above the rate is 21.99% to 23.49% p.a.
Interest-free days
“Up to 55 days” applies only if you pay the full closing balance by the due date each month. Carry a balance and you lose the interest-free period on new purchases.
Common questions
What counts as a low rate?
There is no fixed definition. The cards listed here have purchase rates between 10.99% and 15.99% p.a., compared with up to 23.98% p.a. on other cards we list.
Can my rate change?
Yes. These are variable rates and providers can change them. CommBank also reviews personalised rates periodically.