Best Low Rate Credit Cards

A low interest rate credit card can help you remain in control of your credit card debt for the long term so find out more about how to compare low rate credit card deals, and follow the secure links from our site, directly to an online application form to sign up today.

Compare the Best Low Rate Credit Card Deals

Credit Card	Card Details	Interest Rate p.a.	Cash Advance Rate p.a.	Balance Transfer Rate p.a.	Annual Fee	Interest Free Days (Up To)
Bankwest Lite Mastercard	Lowest interest rate available in the Credit Card Market, comes with good balance transfer offer too	5.99% for 12 months (reverts to 10.75%)	20.99%	5.99% for 12 months	$59	55	Apply » More »
Suncorp Clear Options Standard	Good basic low interest rate credit card with a solid balance transfer offer	12.24%	17.99%	1.9% for 12 months	$39	0	Apply » More »
Aussie Mastercard	Choose between 2 unique offers, a low interest offer or a balance transfer offer	2.99% for 6 months (reverts to 12.29%)	18.79%	2.99% for 6 months	$49	55	Apply » More »
ANZ Low Rate Mastercard	Combining a0% p.a. for 6 months balance transfer offer and a low interest purchase rate	13.24%	21.49%	0% for 6 months	$58	55	Apply » More »
St.George Vertigo	Low rate credit card from St. George, one of the lowest on offer	12.49%	21.24%	2.99% for 6 months	$55	55	Apply » More »
Citibank Clear Platinum Visa Card	Get a great balance transfer offer of 0% p.a. for 7 months, and low interest rate on purchases	11.49%	21.24%	0% for 7 months	$99	55	Apply » More »
NAB Low Rate Visa	Relatively low interest rate, as well as a solid balance transfer deal	13.24%	21.49%	4.99% for 6 months	$49	55	Apply » More »
Westpac Low Rate	Good interest rate for purchases, limited time offer on balance transfers	13.24%	21.24%	1.99% for 9 months	$45	55	Apply » More »

A low interest rate credit card sounds like a dream come true and in some ways it can be, if you are a bit of a shopaholic, or need access to emergency credit every now and then, knowing that your purchases are only being charged a low interest rate can be reassuring. However, before you start putting your details into a low interest rate credit card application, find out everything you need to know about the pros and cons of a low rate credit card deal, and how to compare all of those options to find the best ones for you.

Pros and Cons of Low Interest Rate Credit Card Deals

Before you choose the best credit card for you, you need to consider the benefits and the drawbacks to each type of card, as well as the individual credit card deals. Therefore, when you are considering a low interest rate credit card, weigh up these pros and cons.

Pros of low interest rate credit cards:

• Less interest on an emergency purchase. If you need to use your credit card for an emergency repair or unexpected bill, it is because you don’t have the funds available. Therefore you probably also don’t have the funds available to repay your credit card balance right away either. However, with a low interest rate credit card you don’t have to worry about high interest charges and you can repay your purchase when you can afford to.
• Less interest if you rollover your balance regularly. You may have a little shopping addiction or you may be self-employed or on a tight budget so your savings don’t always stretch to pay all the bills. In this case, you can relax knowing that your purchases are not accruing high interest amounts, and you can remain in control of your debt as you work to make ends meet, or to fit all your new purchases in the wardrobe.
• Easier to control spending and avoid the hangover. The post-Christmas credit card hangover is a typical headline in January and February when we have all splurged over Christmas and the New Year and are struggling to repay our purchases. However, with a low interest rate credit card you can remain in control, and you don’t have to be one of the thousands of Australians who choose a balance transfer credit card as their New Year’s resolution. Instead of going through balance transfer applications and worrying about when the offer expires, you can stick with your low rate credit card and get back in control.

Cons of a low interest rate credit card:

• No rewards program. The best reward you can get from a low interest rate credit card is the reward of being in control of your debt. Typical rewards programs where your spending accumulates rewards points are not typical of low rate cards.
• No interest free days. It is also typical that low rate credit cards may not have an interest free period because the interest rate is so low, you don’t need to be as conscious about avoiding it.
• Can easily turn into a high interest credit card debt. Even a low interest rate is calculated daily and compounds each month, so your low rate credit card balance can easily grow into a high balance with a high portion of interest charges over time if you become too complacent about enjoying a low interest rate.

How to Compare Low Interest Rate Cards

If you have decided that the benefits of the low rate credit card deals outweigh the cons in your situation, then you need to know how to compare the top low interest cards to find the deal which is best for you:

• A low rate should be mid to low teens. Make sure when you are comparing low rate cards that they really do have a low rate, anything higher than 14-15 per cent should be discarded, especially when there are low interest rate credit card deals available as low as 11% currently.
• Compare the other features of the credit card deal. Look at whether the cards you are comparing are easy to use, can they link to your savings account for direct payment of your bill? Can you make BPAY payments from your credit card if you need to? And just because interest free days are not a standard feature of low rate cards, it doesn’t mean they’re not out there.
• Consider a balance transfer offer to start off on a better credit card deal. Low interest rate credit cards often have very attractive balance transfer deals and a low balance transfer interest rate helps you regain control of existing credit card debt, and once your debt is paid you are left with a low interest card which better suits your needs for the long term.

For more information about current low interest rate credit card deals, view our comparison tables. You can choose a low rate card from the top Australian providers, and follow a secure link directly to an online application form so you can enjoy the freedom of a low interest rate sooner.

Editors Choice: Best Credit Card Deals

Credit Card	Card Details	Interest Rate p.a.	Cash Advance Rate p.a.	Balance Transfer Rate p.a.	Annual Fee	Interest Free Days (Up To)
Suncorp Clear Options Standard	An excellent balance transfer offer of 1.9% p.a. for 12 months and a standard purchase rate of 12.24%	12.24%	17.99%	1.9% for 12 months	$39	0	Apply » More »
HSBC Credit Card	Excellent credit card, with a 0% p.a. for 6 months balance transfer offer, and pay $0 for the life of the card	16.99%	20.75%	0% for 6 months	$0	55	Apply » More »
Citibank Emirates Platinum Card	Enjoy 1.9% p.a. for 12 months on balance transfers as well as earn 3 Skywards Miles for every dollar spent, plus all the benefits & privileges of a platinum card.	20.74%	20.74%	1.9% for 12 months	$229	55	Apply » More »