The ANZ Low Rate credit card offers the lowest interest rate on purchases compared to other options from ANZ.
Above all, this advantage gives you better control over your spending while avoiding the high interest costs that other cards often come with.
Plus, you get to choose which introductory offer best suits your financial needs.
The first option is balance transfer, meaning you can consolidate debts from other cards. This is a cost-effective way to clear them, as you’ll get 28 months with 0% interest to pay them off.
On the other hand, if you prefer cashback based on your monthly spend, the cashback offer could be a better fit.
But these introductory perks are just the beginning! There’s so much more to discover about this option with the lowest rates on the market.
What we like about the ANZ Low Rate credit card:
- Low annual fee: $58
- Minimum credit limit: $1,000
- Instalment feature: For those big purchases, you can spread the payment over 3, 6, or 12 months to keep your budget in check (terms and conditions apply).
- Up to 55 days interest-free on purchases
- Mobile payment services: ANZ Low Rate works with Apple Pay, Google Pay, and Samsung Pay, making digital payments both convenient and secure. Plus, no need to carry your physical card around.
- Cashrewards: Shop at over 2,000 partner retailers and get cashback (you’ll need to sign up to the platform to access these deals).
- Extra security layer: ANZ Falcon® provides 24/7 fraud protection with real-time monitoring to detect unusual transactions and safeguard your money.
Balance transfer offer conditions
You can use up to 95% of your ANZ Low Rate credit card limit to cover balance transfers from other cards. This is a bigger margin than many other providers, which usually cap it at 80%, but check if it’s enough for you.
The transfer process can take between 3 and 15 business days, and it’s also important to remember that the promotional 28-month period starts once your card is approved.
Make sure you plan to pay off the balance within the interest-free period, as the rate reverts to 21.99% after the promo period.
Lastly, there’s a one-off 3% fee, so keep that in mind.
What you need to know about the cashback offer for new customers
The best news is that you can earn up to $250! As long as you spend at least $1,500 in the first 3 months after approval, you’ll receive the cashback in your ANZ account at the end of this period.
But note: your purchases need to be eligible to count towards the minimum spend.
For instance, fees, cash advances, balance transfers, and other similar expenses don’t qualify.
Extra security to protect your transactions
The bank uses monitoring systems to detect suspicious activities in real-time. If any unusual behaviour is spotted, ANZ will get in touch with you directly to check if it’s you using the card.
Also, if your card is lost or stolen, you can block it instantly via the app.
While it doesn’t come with complimentary insurance extras, it’s completely safe to use your credit card, knowing that you’ve got 24-hour support from the company.
Rates
- 13.74% p.a. on purchases
- 21.99% p.a. on cash advances
- 21.99% p.a. on balance transfers (standard rate)
- Up to 3 additional cardholders at no extra cost
- Annual fee of $58
Conclusion: Is the ANZ Low Rate credit card worth it?
The focus of the ANZ Low Rate credit card is simplicity and a low-interest rate, so it doesn’t offer any flashy rewards programs.
In short, it’s perfect for those who value practicality and minimal maintenance costs without compromising on solid security coverage.
If you tend to carry a balance and want to reduce the impact of interest, this is definitely a smart option!
Additionally, it’s a great choice for clearing debts on other cards with the 0% balance transfer offer.
If balance transfers aren’t your thing, you’ve got the chance to earn cashback based on your spending. That’s good news, right?
Want to learn how to apply and start enjoying these perks? We’ve got a step-by-step guide to help you get your ANZ Low Rate in no time.