These credit cards are the best low rate offers on the market based on their Finder Scores:
The Illawarra Credit Union Low Rate Credit Card won the Finder Award for the top low rate credit card in 2024.
Updated in November 2024 by Finder's money editor, Richard Whitten.
Finding the perfect low rate card is about more than just the rate (although that is the most important thing).
That's why we created the Finder Score. It's an easy, data-driven way to judge credit cards at a glance.
We give different scores for different categories. So a card might get a 9 in the low rate category but an 8 in the balance transfer category.
The Finder Score is designed by our insights and editorial team. We score credit cards objectively. Commercial partnerships don't affect the scores at all.
Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you. Double-check details that matter to you before applying or buying.
| Feature | Definition | Assessment | Weight |
|---|---|---|---|
| Purchase Rate | Interest rate on new purchases | Lower rates score higher | 70% |
| Interest Free Days | Number of days with no interest charged on new purchases | Higher number of days score higher | 10% |
| First-Year Fee | Annual fee charged in the first year of ownership | Lower fees score higher. $0 fee receives the maximum points | 10% |
| Ongoing Annual Fee | Annual fee charged from the second year onwards | Lower fees score higher. $0 fee receives the maximum points | 10% |
But credit card interest rates are variable, which means they can change regularly. So the lowest interest rate card can vary depending on when you're comparing cards. You can click on the "Purchase rate" column of our comparison table to order the credit cards based on their current interest rates.
Tip: When you're comparing low rate credit cards, keep in mind that most of these cards don't offer perks like rewards or complimentary insurance. So the best card for you might have a different low interest rate and offer value in other ways.
Pros & cons
Why we like it
Pros & cons
Why we like it
Pros & cons
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Low interest credit cards suit people who make purchases that they won't be able to pay off in full during the interest-free period. These cards also suit those who want to minimise interest charges and don't care about the perks and benefits that come with more premium cards, such as rewards programs or complimentary travel insurance.
This is the maximum number of days where interest is not charged on new purchases. For example, if your credit card offers 55 interest-free days and you make a purchase on the first day of your statement period, you'll have 55 days to pay it back before you're charged interest. If you make that purchase on day 15 of your statement period, you'll have 40 interest-free days, and so on.
This only applies if you pay the amount required by the provider by the due date listed on your statement. See Finder's guide to interest-free days for full details.
Tip: There are also cards that offer a 0% purchase interest rate for an introductory period, which is basically the lowest rate you can get (even if it's only for a limited time).
These cards are ideal if you have large purchases, like a holiday, wedding or renovation coming up. They allow you to pay no interest during that period and can give you the breathing room you need as long as you're making the minimum repayment.
With so many competitive low interest rate credit cards on the market, here are some of the features that can help you narrow down your options:
Credit cards have different types of interest rates, including ongoing low rates and promotional offers. So here are the key factors to look at:
These credit card costs can also have an impact on how much value you get – and how much you can potentially save compared to other cards.
Credit cards with low interest rates generally come with fewer perks than costly cards, but here are some of the extra features you might want to consider:
If you often carry over a balance from one month to the next, a low interest credit card could help you save on interest charges. While there is no "best" low rate care, the mix of credit cards available in Australia means you can compare credit card offers and features to help find a card that you want.
Obsessed with offers - You want the lowest rates, lowest fees, lowest spend possible, right? We want that for you too, so we're tracking all the current offers in one place.
Save yourself some time. Why spend 100s of hours researching credit cards and tracking the latest offers? We've done the hard yards, so you can quickly sort through the options and get the card you need.
No BS. We'll explain how credit card interest works and how you can spend less – and we'll always explain it all in plain English.
How you can manage repayments and get a low or 0% interest offer with a credit card that offers instalment plans.
A credit card cash advance is when you withdraw money or get a “cash equivalent” like gift cards – and it typically attracts high rates and fees.
Most credit cards offer interest-free days on purchases – here's how they actually work.
i have been discharged bankrupt for 1 year now, what organisations will give me a credit card?
Hi John,
Thanks for your question.
Typically, bankruptcy will remain on your credit report 5 years from the date you became bankrupt or 2 years from when your bankruptcy ends. This will lower your credit score and decrease your chances of approval when applying for credit cards and loans as most credit card issuers only approve applicants with a good credit history and no evidence of bankruptcy. However, you may be able to compare bankrupt loans and other lines of credit designed for applicants with bad credit.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
Cheers,
Jacob
If I already have a low rate credit card with the ANZ can I apply to transfer another credit card balance (not ANZ) for a new offer. This would mean I would have two credit cards with the ANZ?
Hi Ronda. Thanks for your question. ANZ make their balance transfer offers available to both new and existing customers who are bringing the balance from a non-ANZ credit card, store card or charge card. You can do this by filling out a balance transfer request form, which can be found on their website. Jacob.