| Credit Card | Purchase Rate (p.a.) | Annual Fee | Main Benefits |
|---|---|---|---|
| Westpac Lite | 9.9% | $108 | No foregin fees |
| Amex Low Rate | 10.99% | $0 | Shopping protection |
| ING Orange One Low Rate | 12.99% | $0 | No annual fee |
| ANZ Low Rate | 13.74% | $58 | Great balance transfer and cashback offer |
| Bankwest Breeze Classic | 12.99% | $0* | 0% balance transfer offer |
A low interest rate credit card is suitable for someone who pays interest charges each month. Not being able to pay off the full statement balance within each period will trigger interest charges.
By switching from a standard to a low interest rate credit card, the rate is sometimes cut by more than half. Especially on high balances or credit card debt that is dragging on, halving the annual percentage rate (APR) makes a major difference.
Online we have compared and listed some of the best low interest rate credit cards in Australia and pointed out their unique benefits.
You can feel free to view more low interest rate credit cards available listed on our site.
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Westpac Lite
Why We Like It
A Westpac Lite can be just right for those who purchase goods or services foreign currency, and need a low interest rate credit card.
It has a 9.9% p.a. purchase rate and a monthly fee of $9 which totals to $108 annually.
When you travel on holiday overseas or shopping online, its no foreign transaction fees can save you plenty on fees for each transaction.
Extra Perks
Westpac SmartPlan is a repayment system that splits up repayments on purchased items $500 or above into smaller repayments, while still getting interest free days. What's more, is that it also provides 0% p.a. on the purchased item in the first 3, 6 or 12 months or transfer credit card balances of $200 or more.
If you rock a Fitbit then you'll be happy to know that this card works on Fitbit Pay. And also on mobile payment apps Google Pay and Samsung Pay.
Through the Westpac mobile banking app you can even set up your payment reminders. Change your payment limits, placing a hold on the card and do balance tracking too.
Income Eligibility
The minimum income required is $30,000.
American Express Low Rate
Why We Like It
The American Express Low Rate card is a great card to have as your first go-to credit card or as a second backup card for convenience.
Its attractive low purchase rate of 10.99% p.a. comes with no annual fee.
A benefit unique to Amex credit cards is the refund protection which covers you when a retailer refuses a refund on a new eligible item, within 90 days of purchase.
Extra Perks
One other shopping insurance benefit is its purchase protection. This replaces an item that either breaks or is stolen with 90 days of purchase. Covering up to $20,000 per year and $2,500 per claim with a $50 excess per claim.
Also, choose to pay for items with your smartphone via popular apps Apple Pay, Google Pay and Samsung Pay.
You can select family members or friends for up to 4 extra cards for free.
Income Eligibility
Has no set mininmum income requirement.
ING Orange One Low Rate
Why We Like It
The ING Orange One Low Rate is a suitable choice if you want both a low rate and no annual fee in a card.
Its purchase rate is 12.99% p.a. with interest-free days of up to 45 days, and a minimum credit limit of $1,000.
Extra Perks
Available for use with Apple Pay and Google Pay.
Income Eligibility
The minimum income required is $36,000.
ANZ Low Rate
Why We Like It
The features offered in the ANZ Low Rate are quite similar to that of the Virgin Low Rate card.
The major difference between the two is that the ANZ Low Rate has a wider application eligibility - the ANZ option offers a lower minimum credit limit and is likely more eligible for applicants with a lower minimum income.
If you're seeking a low credit limit or have a low income for example such as a student, then this credit card can work for you. Its minimum credit limit is set at $1,000.
It has a 13.74% p.a. purchase rate with no annual fee in the first with its balance transfer offer year then followed by a reasonably low $58 p.a.
And offers a balance transfer of 0% interest for 26 months with a 3% transfer fee (offer only available to new ANZ Low Rate credit card customers). Any balances remaining after the promo period ends will revert to the rate of 21.99% p.a. Or, you can choose its bonus credit back offer of $400 instead when you spend $5,000 on eligible purchases in the first 6 months from approval.
Extra Perks
You get a free membership to Visa Entertainment which gives you access to special offers, ticket pre-sales and more.
Also, you can get 3 additional cardholders at no cost.
Income Eligibility
A minimum income is not required.
Bankwest Breeze Classic
Why We Like It
The Bankwest Breeze Classic mastercard is a great choice if you want a low purchase rate card and rate offers with the lowest balance transfer reverted rate in the market.
Its balance transfer offer for 24 months with a 3% transfer fee (Note: conditions apply. For example, the offer is only available to new Bankwest Breeze Classic customers. Also, the offer excludes product transfers from existing Bankwest cards.)
After the promotional period finishes, any unpaid balances will be charged interest at a really low rate of 12.99% p.a., which is the lowest rate on this list. This means that the Bankwest Breeze Classic card is perfect for anyone unsure if they’ll be able to pay off their balance before the zero interest period ends.
Plus, you get to enjoy the features this card offers at low annual fee of $49 per annum.
Extra Perks
One of this card’s bonuses is that you can access the digital version of it via the Bankwest app. as soon as you’re approved. As such, you don’t have to wait to go shopping online or to pay bills and other everyday expenses with it.
The Breeze Classic is a simple, straightforward credit card with no bells and whistles. But if you want a card with more extras, check out the Bankwest Breeze Platinum mastercard. The platinum product has an annual fee of a slightly higher $69 in the second year but comes with the added benefits of zero foreign transaction fees plus included complimentary international travel insurance.
Income Eligibility
The minimum income required is $15,000 for both the classic and platinum card.
We hope you found our list of best low interest rate credit cards in Australia for 2026 helpful! Feel free to comment below with your thoughts on our blog.
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