Updated in March 2025 by Finder's money editor, Richard Whitten.
Number crunching the Finder Score
9+ Excellent - These cards offer the lowest ongoing purchase rates, high number of interest free days, and competitive introductory and ongoing annual fees.
7+ Great - Reasonable ongoing purchase rates and fees, with the potential for additional perks.
5+ Satisfactory - Low interest rates, but watch out for above average ongoing fees.
Less than 5 – Basic - These are generally cards with low interest rates, however could charge high ongoing fees.
Tell me more about the low rate credit card score
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.
Every month, our insights team analyses over 250 credit cards.
We assess ten features for each card, rating each feature.
Then these ratings are combined via a weighted methodology to create a simple score out of 10.
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.
Low rate credit cards - score weightings
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%
The lowest interest credit card on Finder in March 2025
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.
Get 0% p.a. on your balance transfer for 24 months
A low annual fee of $55
Shopping cashbacks through ShopBack
Competitive purchase rate of 13.99% p.a.
Finder Score of 9.9 for balance transfers
There's a one-time balance transfer fee of 1%
Balance transfer rate reverts to 21.99% p.a. at the end of the introductory period
No rewards program, travel perks or insurance cover
Why we like it
If you're trying to pay off your credit card trying to get your credit card debt under control, the St.George Vertigo card is a really strong option. It gives you 24 months of 0% interest on your balance transfer, one of the longest offers on the market. Plus you can keep your costs down with a $55 annual fee, which is about as low as you can get for this kind of card.
The card also won Best Balance Transfer Credit Card at the 2025 Finder Awards.
Best low rate credit cards: American Express Low Rate
Only offers up to 45 days interest-free on purchases as opposed to other cards that offer up to 55 days
No rewards points or complimentary insurances
Why we like it
The 9.9% p.a. variable interest rate on purchases is much lower than the average standard credit card interest rate in Australia (currently 20.99% p.a.)
This card charges 0% on foreign transaction fees, which can help you save around 2-3% compared to cards that charge a foreign transaction fee.
Mobile payments through Apple Pay, Google Pay and Samsung Pay.
Who are low rate credit cards best suited to?
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.
🗓 What is the interest-free period?
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.
Pros and cons of low rate credit cards
Pros
Savings. These cards can be a cheaper option as you pay less interest on purchases, which will help you save money and avoid falling into unmanageable debt.
Low fees. Many low interest rate credit cards also have lower annual fees, which will also help you save.
Promotional offers. Low interest rate credit cards sometimes offer 0% promotions on purchases and/or balance transfers, allowing you to avoid interest altogether for an introductory period.
Cons
Less competitive rewards. If a low rate credit card offers a rewards program, it usually has a lower earn rate and smaller bonus points offer than more expensive cards.
Fewer extra features. Lower rates generally mean fewer extra features, unlike platinum cards which often come with insurance covers and concierge services.
Revert rates. If your card offers 0% interest on purchases for a promotional period, it will revert to a higher purchase rate that could be up to 26.99% p.a.
How to compare low rate credit cards
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:
Interest rates
Credit cards have different types of interest rates, including ongoing low rates and promotional offers. So here are the key factors to look at:
Promotional interest rates. If you're looking at cards that offer an introductory 0% interest rate, the promotional period typically ranges from 6 to 12 months (or more) for purchases and up to 30 months for balance transfers. After that, a standard interest rate applies to any unpaid balance, as well as new purchases. So it’s wise to know when this rate applies and aim to repay your debt beforehand.
Standard interest rates. On a low rate card, purchase interest rates are typically between around 8% p.a. and 15% p.a. If you want a credit card for long-term use, one with an ongoing low interest rate could be a better fit than a card with 0% for a promotional period and a higher rate after that.
Cash advance rates. The interest rate for cash advances is usually higher than the rate applied to purchases and can be as high as 29.99% p.a. This rate is charged for transactions such as ATM cash withdrawals, foreign currency purchases and gambling. It may also apply after an introductory 0% balance transfer period ends. Cash advances also aren't eligible for interest-free days.
Fees and charges
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.
Annual fee. Low rate credit card annual fees typically range from $30 to $199, but there are also some cards that offer $0 annual fee for the first year or for life. In general, platinum low rate cards will have higher annual fees than a no-frills card from the same issuer. Make sure the annual fee cost doesn't outweigh the value you get from the low interest rate.
International transaction fees. If you use your card for foreign currency or overseas purchases (including online), you will usually be charged a foreign transaction fee of around 2-3.5%. But certain credit cards are more tailored to international use and offer 0% foreign transactions fees.
Minimum repayments. Each statement period, you’re required to make a minimum repayment. This is usually a percentage of the total amount owing, ranging from 2% to 10%. If you don’t pay this, you’ll usually be charged a late payment fee. To lower your interest payments and avoid ongoing debt, try to pay as much as you can before the statement due date.
Balance transfer fee. Some balance transfer cards charge a one-time fee worth around 1-3% of the balance you transfer. Even when you get an introductory 0% interest rate, this adds to the cost and may change the amount that you save through an offer.
Additional features
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:
Cashback. Some low rate cards also come with cashback offers, although you’ll usually need to meet a certain spend requirement to get the money back. If the spend requirements fit with your budget and you can afford to pay it off, this can be another way to get extra value from your card.
Complimentary insurance. Some low rate cards offer you complimentary travel insurance and purchase cover. These features can help you save on buying insurance policies, but make sure you check out the eligibility requirements, inclusions and exclusions of the cover before you apply.
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.
2025 Finder Awards for Low Rate Credit Cards
Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. Here are the top performing low rate credit cards.
G&C Mutual Bank's Low Rate Visa Credit Card is the winner of this year's low rate credit card award. It has, you guessed it, a very low interest rate. Plus a low annual fee.
The Low Rate Credit Card from Illawarra Credit Union is highly commended in the low rate category. It has a competitive rate and a $0 annual fee for the first year.
Frequently asked questions
The cheapest card will depend on how you use it. If you pay off your balance every month, a $0 annual fee credit card would likely be the cheapest option.
If you regularly carry a balance from month to month, the cheapest credit card will have a low interest rate and a modest annual fee (less than $100). There aren't many cards on the market that offer both a $0 annual fee and a low rate, but using the table above you can find what you consider to be a cheap credit card.
There is no one "best" low interest rate credit card in Australia. With so many cards on the market, a card's individual features have an impact on how well it suits your circumstances. So the card that's right for you may not be right for someone else. Comparing low interest rate credit cards based on the features you're looking for will help you find a card for your individual needs.
Credit card interest rates are usually advertised by the annual rate that applies to the account, shown as "per annum" or p.a. However, interest on your account balance is typically calculated daily and then charged monthly on the statement due date. This means that for every day that you don't make a payment, the interest charges will build up (or compound).
This depends on the credit card and any applicable balance transfer offers. If the card allows balance transfers, it may come with a 0% interest rate for a promotional period before reverting to a standard rate.
Some low interest rate cards apply the standard purchase rate to balance transfers after the introductory period while others apply the cash advance rate, which can be as high as 29.99% p.a. The average standard credit card interest rate is currently 20.99% according to Finder analysis of Reserve Bank of Australia data.
There isn't a single "cheapest" credit card option because everyone uses credit cards differently. There are other costs to consider beyond the purchase rate, such as annual fees and interest rates for cash advances or balance transfers. On the flip side, some people might find cards with high rates and fees "cheap" because of all the complimentary extras.
When you're looking to find a credit card, consider all of the potential costs based on how you plan to use the account. That way, you'll be able to find one with rates and fees that are affordable for you.
Most frequent flyer and rewards credit cards have higher interest rates and fees than low rate cards. But there is a small selection of low rate credit cards that offer points on eligible spending, including the Coles Low Rate Mastercard and Queensland Country Bank Visa My Rewards Credit Card. These cards typically earn fewer points per $1 spent, so it's important to consider whether rewards or a low rate will offer you more value before choosing a card.
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.
Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio
Richard's expertise
Richard has written 594 Finder guides across topics including:
Hi, I’m worried that by applying for credit cards will reduce my score ,I am on Centrelink and feel maybe there is no point trying as I always get rejected.i only wish to have a credit card as it’s getting harder in this economy and would like to have one as a bit of security incase I need a bit extra .with my score is there any point trying or should I stop applying and accept that my income is just never going to be accepted.please help
Finder
AngusFebruary 6, 2025Finder
Hi Billie-Jo, I’d recommend checking our guide to credit cards for people on Centrelink for more on this topic. But you’re right that making multiple unsuccessful credit card applications can reduce your credit score. Realistically, if your Centrelink payment is largely used for basic living expenses (rent+food+transport) then you’re unlikely to be approved for a credit card. It’s also worth remembering that while a credit card can be a useful emergency option, you’ll have to pay the annual fee up front. Hope this helps.
JamesOctober 26, 2023
hi i’m trying to find a best credit card that suits me , first time holder I never hold one in my life .
Finder
AmyOctober 27, 2023Finder
Hi James,
It’s helpful to consider what’s important to you when choosing a credit card. For example, a low rate credit card can help you save on interest charges if you want to pay off spending over time. A card with low fees or no annual fee could also help keep account costs down. Rewards and extras like complimentary insurance are also features you may want to consider. Finder’s guide to credit cards has more details about the different types of cards and what else to consider. I hope this helps.
JadeSeptember 3, 2019
Are there any credit cards available for people on disability pension Centrelink please?
Finder
JeniSeptember 4, 2019Finder
Hi Jade,
Thank you for getting in touch with Finder.
You can start comparing credit cards for pensioners and retirees. I suggest that you contact your chosen bank or credit card issuer before submitting your online application to know your chances of getting approved.
Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you. When you are ready, press the ‘Go to site’ button to apply.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
sueFebruary 24, 2019
Am I better off to get a personal loan to pay credit cards off and get extra money for travel /
would like to consolidate credit card debt and have some money for travel
Finder
JohnFebruary 25, 2019Finder
Hi Sue,
Thank you for reaching out to Finder.
Depending on how much you would require to consolidate your debt as well as have a bit of extra for travel, a personal loan would be able to help you achieve this. You would not be able to have the extra cash when you use a different method in consolidating your debt. You may refer to our list of personal loan. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
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 deciding on whether it is right for you. Hope this helps!
Cheers,
Reggie
willardDecember 20, 2018
what card would be best for people on s.s?
Finder
JohnDecember 20, 2018Finder
Hi Willard,
Thank you for reaching out to finder.
While we do not provide specific product recommendations, we can help guide you through the process of comparing options. You may want to check our page on “Credit cards for retired and pensioner applicants”. The page will also advise you of what documents to provide during the application process. Please click here to be routed to that page. Hope this helps!
Most credit cards offer interest-free days on purchases – here's how they actually work.
Important information about this website
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand by our editorial principles.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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Highly commended
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.
Hi, I’m worried that by applying for credit cards will reduce my score ,I am on Centrelink and feel maybe there is no point trying as I always get rejected.i only wish to have a credit card as it’s getting harder in this economy and would like to have one as a bit of security incase I need a bit extra .with my score is there any point trying or should I stop applying and accept that my income is just never going to be accepted.please help
Hi Billie-Jo, I’d recommend checking our guide to credit cards for people on Centrelink for more on this topic. But you’re right that making multiple unsuccessful credit card applications can reduce your credit score. Realistically, if your Centrelink payment is largely used for basic living expenses (rent+food+transport) then you’re unlikely to be approved for a credit card. It’s also worth remembering that while a credit card can be a useful emergency option, you’ll have to pay the annual fee up front. Hope this helps.
hi i’m trying to find a best credit card that suits me , first time holder I never hold one in my life .
Hi James,
It’s helpful to consider what’s important to you when choosing a credit card. For example, a low rate credit card can help you save on interest charges if you want to pay off spending over time. A card with low fees or no annual fee could also help keep account costs down. Rewards and extras like complimentary insurance are also features you may want to consider. Finder’s guide to credit cards has more details about the different types of cards and what else to consider. I hope this helps.
Are there any credit cards available for people on disability pension Centrelink please?
Hi Jade,
Thank you for getting in touch with Finder.
You can start comparing credit cards for pensioners and retirees. I suggest that you contact your chosen bank or credit card issuer before submitting your online application to know your chances of getting approved.
Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you. When you are ready, press the ‘Go to site’ button to apply.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Am I better off to get a personal loan to pay credit cards off and get extra money for travel /
would like to consolidate credit card debt and have some money for travel
Hi Sue,
Thank you for reaching out to Finder.
Depending on how much you would require to consolidate your debt as well as have a bit of extra for travel, a personal loan would be able to help you achieve this. You would not be able to have the extra cash when you use a different method in consolidating your debt. You may refer to our list of personal loan. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
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 deciding on whether it is right for you. Hope this helps!
Cheers,
Reggie
what card would be best for people on s.s?
Hi Willard,
Thank you for reaching out to finder.
While we do not provide specific product recommendations, we can help guide you through the process of comparing options. You may want to check our page on “Credit cards for retired and pensioner applicants”. The page will also advise you of what documents to provide during the application process. Please click here to be routed to that page. Hope this helps!
Cheers,
Reggie