Low interest credit cards offer an interest rate of around 15% or lower. This is particularly important for people who do not completely pay off their balance each statement. If this is the case, it is advisable that you transfer your balance to a card that offers a lower interest rate. Below are the low interest credit cards from the banks and providers within Australia. Use the table to find the best card for your needs. If you would like more information on low interest credit cards, please scroll to the bottom of the page.

Credit Card	Interest Rate	Balance Transfer Rate	Interest Free Days (up to)	Annual Fee	Rewards
ANZ Balance Visa	14.24% p.a.	0% p.a. 6 months	0% 55 days	$79 ($57 p.a. + $22 Rewards Program Fee)	Cashback, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $79 Range of vouchers and gift certificates 24/7 monitoring of suspicious transactions You must have an income of over $15,000 Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 14.24%. Cash advances have an annual interest rate of 21.49%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 14.24%. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 14.24% on any purchases you make. This credit card has an annual fee of $79 ($57 p.a. + $22 Rewards Program Fee) You can earn up to 1 rewards points for every dollar you repay to your balance, including repayments to purchases, fees, interest, cash advances and repayments on balances transferred. You can redeem points for cashback, shopping vouchers and gift cards.
ANZ Low Rate MasterCard	13.24% p.a.	0% p.a. 6 months	0% 55 days	$58 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $58 Range of discounts and vouchers 24/7 monitoring of suspicious transactions No reward scheme available Balance transfer only available to new customers and no balance transfers between ANZ Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 13.24%. Cash advances have an annual interest rate of 21.49%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 13.24% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 13.24% on any purchases you make. This credit card has an annual fee of $58 p.a. You do not receive rewards on this card.
Aussie MasterCard	12.99% first 6 months (reverts to 12.79%)	2.99% p.a. 6 months	0% 55 days	$49 p.a.	No rewards
Enjoy all the benefits of this card and pay $49 annual fee for the first year An initial balance transfer rate of 2.99% for the first 6 months A low interest rate of 12.99% for the first six months No balance transfers between Aussie cards You must have an income of over $50,000 p.a. for non-permanent Australian residents Up to 55 days interest free from the date the purchase is made, after this period you will be charged an interest rate of 12.99% for the first 6 months, then the rate reverts to 12.79% p.a. Cash advances have an annual interest rate of 19.49%. Enjoy a rate of 2.99% on balance transfers for up to the first 6 months. Once the 2.99% period ends you will be charged an interest rate of 12.99% for the first 6 months, then the rate reverts to 12.79% p.a. on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate of 12.99% for the first 6 months, then the rate reverts to 12.79% p.a. on any purchases you make. This credit card has an annual fee of $49 p.a. There are no rewards for this credit card.
Bankwest Business Large Rewards MasterCard	16.99% p.a. 6 months	7.99% p.a. 6 Months	0% 55 days	$69 p.a.	Travel, Shopping
One of Australia's lowest interest rates Enjoy all the benefits of this card and pay a low annual fee of $69 Receive 6, bonus points after 6 months No balance transfers between Bankwest There is an introductory annual interest rate of 16.99% for the first 6 months. After this period you will be charged an annual interest rate of 16.74% on all purchases and 20.99% on cash advances. Enjoy an interest rate (per annum) of 16.99% on balance transfers for up to the first 6 Months. Once the 16.99% period ends you will be charged an annual interest rate of 16.74% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 16.74% on any purchases you make. This credit card has an annual fee of $69 p.a. You can earn up to 1.5 reward points for every dollar you spend and your points do not expire or capped as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
Bankwest Business Low Rate MasterCard	12.99% p.a. 6 months	7.99% p.a. 6 months	0% 45 days	$39 p.a.	Optional
Enjoy all the benefits of this card and pay a low annual fee of $39 One of Australia's lowest interest rates No reward point caps or points expiry No balance transfers between Bankwest There is an introductory annual interest rate of 12.99% for the first 6 months. After this period you will be charged an annual interest rate of 12.74% on all purchases and 20.99% on cash advances. Enjoy an interest rate (per annum) of 12.99% on balance transfers for up to the first 6 months. Once the 12.99% period ends you will be charged an annual interest rate of 12.74% on the transferred balance. You will not be charged interest on any purchases for the first 45. Once the 0% period ends you will be charged an interest rate (per annum) of 12.74% on any purchases you make. This credit card has an annual fee of $39 p.a. Enrollment into the Business rewards program is an additonal $69 per annum. You can earn up to 1 reward points for every dollar you spend and your points do not expire or capped as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
Bendigo Basic Black	11.99% p.a.	N/A	0% 44 days	$45 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $45 Low cash advance rate of 11.99% p.a. Additional cardholders are free Up to 44 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 11.99%. Cash advances have an annual interest rate of 11.99%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 11.99%. You will not be charged interest on any purchases for the first 44. Once the 0% period ends you will be charged an interest rate (per annum) of 11.99% on any purchases you make. This credit card has an annual fee of $45 p.a. You do not receive rewards on this card.
Citibank Clear Credit Card	11.99% p.a. for the first 12 months, 15.49% thereafter	0% p.a. 6 months	0% 55 days	$65 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $65 Range of discounts and vouchers Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 11.99%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 11.99% on any purchases you make. This credit card has an annual fee of $65 p.a. You can receive a 25% discount on dining and shopping through Cit World Privileges at participating outlets.
Citibank Clear Platinum Credit Card	11.49% p.a.	0% p.a. 6 months	0% 55 days	$49 for 1st yr, then $99 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $49 Free purchase cover and extended warranty Range of discounts and vouchers You must have an income of over $50,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 11.49%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 11.49% on any purchases you make. This credit card has an annual fee of $49 for 1st yr, then $99 p.a. You can receive a 25% discount on dining and shopping through Cit World Privileges at participating outlets.
Commonwealth Bank Low Rate Gold	13.24% p.a.	5.99% p.a. 5 months	0% 55 days	$120 p.a.	No rewards
Free international travel insurance A range of complimentary shopping insurances No reward scheme available Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 13.24%. Cash advances have an annual interest rate of 21.49%. Enjoy an interest rate (per annum) of 5.99% on balance transfers for up to the first 5 months. Once the 5.99% period ends you will be charged an annual interest rate of 21.49% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 13.24% on any purchases you make. This credit card has an annual fee of $120 p.a. You do not receive rewards on this card.
CUA Low Rate MasterCard Gold	13.1% p.a.	N/A	0% 55 days	$85 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $85 Low cash advance rate of 17.1% p.a. Free international travel insurance Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 13.1%. Cash advances have an annual interest rate of 17.1%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 13.1%. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 13.1% on any purchases you make. This credit card has an annual fee of $85 p.a. You do not receive rewards on this card.
GE Money Low Rate MasterCard	15.49% p.a.	4.99% p.a. 6 months	0% 55 days	$58 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $58 Manage card online Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 15.49%. Cash advances have an annual interest rate of 20.99%. Enjoy an interest rate (per annum) of 4.99% on balance transfers for up to the first 6 months. Once the 4.99% period ends you will be charged an annual interest rate of 15.49% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 15.49% on any purchases you make. This credit card has an annual fee of $58 p.a. You do not receive rewards on this card.
IMB Low Rate MasterCard Gold	13.1% p.a.	2.9% p.a. 6 months	N/A	$99 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $99 Low cash advance rate of 17.1% p.a. Free International Travel & Purchase Insurance You must have an income of over $35,000 No balance transfers between CUA and Citigroup You will be charged an annual interest rate of 13.1% on all purchases and 17.1% on all cash advances. Enjoy an interest rate (per annum) of 2.9% on balance transfers for up to the first 6 months. Once the 2.9% period ends you will be charged an annual interest rate of 17.1% on the transferred balance. There is no introductory purchases offer on this product and any purchases will incur 13.1% interest rate. This credit card has an annual fee of $99 p.a. You do not receive rewards on this card.
NAB Low Rate Visa Card	13.24% p.a.	4.99% p.a. 6 months	0% 55 days	$49 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $49 Emergency travel assistance 24 hours a day, 7 days a week No reward scheme available No balance transfers between NAB Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 13.24%. Cash advances have an annual interest rate of 21.49%. Enjoy an interest rate (per annum) of 4.99% on balance transfers for up to the first 6 months. Once the 4.99% period ends you will be charged an annual interest rate of 21.49% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 13.24% on any purchases you make. This credit card has an annual fee of $49 p.a. You do not receive rewards on this card.
St. George Gold Low Rate	15.74% p.a.	N/A	0% 55 days	$79 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $79 Complimentary overseas travel insurance when you purchase a trip on your card Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 15.74%. Cash advances have an annual interest rate of 19.74%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 15.74%. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 15.74% on any purchases you make. This credit card has an annual fee of $79 p.a. You revcieve instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
St. George Platinum Credit Card	15.74% p.a.	3.99% p.a. 6 months	0% 55 days	$89 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $89 Free shopping and travel insurances 24/7 access to the Personal Concierge Service No balance transfers between St.George or BankSA Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 15.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 6 months. Once the 3.99% period ends you will be charged an annual interest rate of 15.74% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 15.74% on any purchases you make. This credit card has an annual fee of $89 p.a. You revcieve instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
St. George Vertigo MasterCard	12.49% p.a. for 6 months (then 12.49% p.a.)	2.99% p.a. 6 months	0% 55 days	$55 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $55 Range of discounts through St.George Instant Benefits 24/7 monitoring of suspicious transactions No balance transfers between St.George or BankSA Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 12.49% for 6 months, then the interest rate moves to 12.24% p.a. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 2.99% on balance transfers for up to the first 6 months. Once the 2.99% period ends you will be charged an annual interest rate of 12.49% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 12.49% on any purchases you make. This credit card has an annual fee of $55 p.a. You receive instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
Suncorp Standard Credit Card	12.24% p.a.	1.9% p.a. 12 months	0 days	$39 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $39 Range of entertainment offers You must have an income of over $20,000 After 12 months months, balance transfers have a cash advance interest rate of 17.99% p.a. You will be charged an annual interest rate of 12.24% on all purchases and 17.99% on all cash advances. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 12 months. Once the 1.9% period ends you will be charged an annual interest rate of 17.99% on the transferred balance. There is no introductory purchases offer on this product and any purchases will incur 12.24% interest rate. This credit card has an annual fee of $39 p.a. You do not receive rewards on this card.
Westpac Low Rate	13.24% p.a.	3.99% p.a. 6 months	0% 55 days	$45 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $45 Additional card protection with Westpac SecureCard No reward scheme Balance transfer only available to new customers and no balance transfers between Westpac Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 13.24%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 6 months. Once the 3.99% period ends you will be charged an annual interest rate of 13.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 13.24% on any purchases you make. This credit card has an annual fee of $45 p.a. You do not receive rewards on this card.
CUA Low Rate MasterCard Silver	13.1% p.a.	N/A	0% 55 days	$45 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $45 Low cash advance rate of 17.1% p.a. Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 13.1%. Cash advances have an annual interest rate of 17.1%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 13.1%. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 13.1% on any purchases you make. This credit card has an annual fee of $45 p.a. You do not receive rewards on this card.

What is a Low Interest Credit Card?

Most cards offer an interest free period of 45 or 55 days on purchases. Once this period is over, any balance that is not repaid accumulates interest daily. This can often be misunderstood as interest rates are given as a percentage p.a. (per annum). You can calculate your Daily Percentage Rate by dividing the interest rate by 365.

Low interest credit cards offer the card holder an interest rate of around 15% or lower. If you have credit card debt on a card that has a much higher interest rate than this, it is advisable that you look for a card with a lower rate and transfer your balance so that you can repay your debt faster. If you want to consolidate all your debt onto one low rate card, look for a fixed low interest rate for the life of the balance or a 0% balance transfer credit card.

Some cards come with special introductory offers of either a very low interest rate or an interest free period of up to six or twelve months. However, after this period is over, the interest rate could increase dramatically so it is important to read the fine print.

If you are able to repay all of your balance each statement, low interest rates may not be a deciding factor when choosing a credit card as you will be unaffected by interest rates. It is worth considering cards that offer rewards programs or special benefits as well as low annual fees as these features are likely to be more beneficial to you.

Types of Interest Rates

• Purchase interest rate – In most cases, the advertised interest rate is for purchases only which includes usage such as buying groceries, paying bills, direct debit etc.


• Cash advance interest rate – This is when you withdraw money from an ATM using your credit card or transfer money from your credit card to another bank account using telephone or internet banking.


• Balance transfer interest rates – The rate of interest for the balance you have transferred from another account may attract a different interest rate than the purchase interest rate.

Advantages of a Low Interest Credit Card

• Affordable flexibility for making purchases on your card – Low interest rates offer you the freedom to use your credit card when you need to without being hit with high interest rates.


• Reduce your credit card debt – By reducing your interest repayments you are essentially paying off a larger chunk of your actual debt instead of just paying off the interest.

Disadvantages of a Low Interest Credit Card

• Lack of benefits – Many do not offer rewards programs and additional benefits. If you pay off your credit card balance each statement, a low interest rate is not a very important factor in choosing the right credit card for you.


• Hidden fees and charges – You may be charged fees such as annual fees, balance transfer fees, foreign transaction fees etc. Read the fine print carefully to have a full understanding of all the additional costs involved.


• Difficult qualification process – It can be quite tricky to get qualified for a low interest rate credit card. Credit card companies favour applicants with a good credit history.

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