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12 March 2010
  Forty per cent of first-time home buyers are suffering mortgage stress. Fujitsu found 581,000 households were in mortgage stress, up 0.7 per cent during Febr.....
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12 March 2010
 Average mortgage up 40 per cent
 Rates to go up another two per cent
 Banks reap profits from extra margins
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 Investors like ANZ
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Credit Cards
  CreditMart recently undertook some analysis around interest rates on reward program credit card offers and found that the average interest rate on these cards was 1.....
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Tips & Tricks
Credit Cards
 
Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
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Credit Cards
 Credit Card Balance Transfers
 Watch out for the 'revert rate' on balance transfer offers
 Watch for different interest rates on the one card
HomeLoans
 Don't compare against the so-called 'standard variable rate'
 Look out for 'deferred establishment fees'
 

Low Rate Credit Selector Service

Institution Product
Name
Purchase
Rate
(% p.a.)
Cash
Advance
Rate
(% p.a.)
Balance
Transfer
Rate
Interest
Free
Days
Annual
Card
Fee($)
Rewards
Program
Compare Apply Contact Bank
You can further compare up to 3 products by checking the boxes and clicking the compare button    
Citibank Citibank Clear Platinum Card 11.49% 20.99% 0.99 55 $99 Yes
Apply
Contact
Bank
St. George Bank St.George Vertigo MasterCard 2.99% Intro% 20.74% 2.99 55 $55 Yes
Apply
Contact
Bank
ANZ ANZ Low Rate MasterCard 12.74% 20.99%   55 $58 No
Apply
Contact
Bank
Aussie Aussie MasterCard.
2.99% Intro 6 months
Top Pick Low Rate
2.99% Intro
(12.29% std)%
18.79% 2.99% for 6 months 55 $49 No
Apply
Contact
Bank
ANZ ANZ Balance Visa 13.74% 20.99%   55 $79 Yes
Apply
Contact
Bank
Community First Credit Union Community First Visa Credit Card 10.5% 10.5%   55 $40 No
Apply
Contact
Bank
American Express American Express Business Card - -   51 $109 No
Apply
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Bank
American Express American Express Gold Business Card - -   51 $169 No
Apply
Contact
Bank
American Express American Express Platinum Business Card - -   51 $1000 No
Apply
Contact
Bank
Hume Building Society Hume Visa Value 12.9% 12.9%   55   No
Apply
Contact
Bank
Big Sky Credit Union Big Sky Credit Union Low Rate Credit Card 12.3% 12.3% 7.30 45   No
Apply
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Bank
Commonwealth Bank Commonwealth Bank Low Rate Credit Card 12.49% 20.74% 5.99 55 $48 No
Apply
Contact
Bank
Citibank ReadyCredit - Visa Debit 2.9% 2.9% 2.9     No
Apply
Contact
Bank
NAB NAB Low Rate Visa Card 12.24% 20.74% 4.99 55 $49 No
Apply
Contact
Bank
B&E Ltd B&E VISA Credit Card 11.99% 16.49%   57 $39 No
Apply
Contact
Bank
Defcredit True Blue Credit Card 11.49% 11.49% 4.99 55 $36 No
Apply
Contact
Bank
FCCS Credit Union FCCS Low Rate Mastercard Silver 11.85% 19.49%   55 $35 No
Apply
Contact
Bank
CommSec CommSec Debit Mastercard 5% 5%       No
Apply
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Bank
Newcastle Permanent Building Society Newcastle Permanent Business+ Credit Card 12.34% 16.34% 16.34 44 $55 No
Apply
Contact
Bank
Community First Credit Union McGrath Pink Visa Card 10.5% 10.5%   55 $40 No
Apply
Contact
Bank
BankSA BankSA Vertigo MasterCard 11.99% 20.74% 2.99 55 $55 Yes
Apply
Contact
Bank
Bankwest Bankwest Lite Platinum MasterCard 9.99% 20.99% 1.99 55 $120 Yes
Apply
Contact
Bank
Teachers Credit Union Teachers Credit Union Credit Card 11.5% 11.5%   55   No
Apply
Contact
Bank
American Express American Express Platinum Card       51 $900 Yes
Apply
Contact
Bank
Aussie Aussie MasterCard 12.29% 18.79% 2.99 55 $49 No
Apply
Contact
Bank
American Express American Express Gold Card       51 $130 Yes
Apply
Contact
Bank
American Express American Express Card       51 $80 Yes
Apply
Contact
Bank
ANZ ANZ Everyday Visa Debit         $72 No
Apply
Contact
Bank
First Option Credit Union Visa Credit Card 13.3% 13.3%   45 $18 No
Apply
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Bank
Bananacoast Community Credit Union BCU Classic Visa 11.05% 11.05%   55 $45 No
Apply
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Bank
Bank of Queensland BOQ Low Rate Visa Card 12.74% 20.49%   55 $55 No
Apply
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Bank
Bankwest Bankwest Lite MasterCard 9.99% 20.99% 1.99 55 $59 Yes
Apply
Contact
Bank
Bankwest Bankwest Lite Gold MasterCard 9.99% 20.99% 1.99 55 $89 Yes
Apply
Contact
Bank
Bankwest Bankwest MasterCard Debit           No
Apply
Contact
Bank
Bankwest Bankwest Business MasterCard Low Rate 11.99% 11.99% 7.99 45 $39 Yes
Apply
Contact
Bank
Commonwealth Bank Commonwealth Business Credit Card - Low Rate (Unsecured) Option 13.8% -       Yes
Apply
Contact
Bank
Commonwealth Bank Commonwealth Corporate Credit Card - Residentially Secured Option 7.51% -     $40 Yes
Apply
Contact
Bank
Commonwealth Bank Commonwealth Business Credit Card - Residentially Secured Card 7.51% -     $40 Yes
Apply
Contact
Bank
Commonwealth Bank Commonwealth Business Credit Card - Commerical Security 11.75% -     $40 Yes
Apply
Contact
Bank
Commonwealth Bank Commonwealth Corporate Credit Card - Commercial Security 11.75% -     $40 Yes
Apply
Contact
Bank
ANZ ANZ Business One Low Rate 13.66% 14.16%     $130 No
Apply
Contact
Bank
Community CPS Australia Community CPS Low Rate MasterCard (Gold) 11.85% 11.85% 4.90 55 $75 No
Apply
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Bank
Community CPS Australia Community CPS Low Rate MasterCard (Silver) 11.85% 11.85% 4.90 55 $35 No
Apply
Contact
Bank
CUA CUA Low Rate MasterCard - Silver 11.85% 11.85% 2.9 55 $45 No
Apply
Contact
Bank
CUA CUA Low Rate MasterCard - Gold 11.85% 11.85% 2.9 55 $85 No
Apply
Contact
Bank
Diners Club Diners         $95 Yes
Apply
Contact
Bank
Encompass Credit Union Encompass Credit Card 14.5% 20.5%   55 $36 No
Apply
Contact
Bank
Macquarie Credit Union Visa 55 13.14% 13.14% 6.95 55 $15 No
Apply
Contact
Bank
Horizon Credit Union Horizon Credit Union Visa Credit Card 12.95% 12.95%   45   Yes
Apply
Contact
Bank
Heritage Building Society Heritage Visa Gold No Frills 10.75% 10.75%       No
Apply
Contact
Bank
Heritage Building Society Heritage Visa Classic No Frills 11.3% 11.3%       No
Apply
Contact
Bank
Heritage Building Society Heritage Visa Business Secured 9.9% -   40 $35 No
Apply
Contact
Bank
Heritage Building Society Heritage Visa Business Unsecured 12.2% -   40 $35 No
Apply
Contact
Bank
Hunter United Credit Union Hunter United Visa Credit Card 11.49% 16.49%   55 $48 No
Apply
Contact
Bank
IMB IMB Low Rate MasterCard 11.85% 11.85% 4.9 55 $55 No
Apply
Contact
Bank
Intech Credit Union Limited Intech Credit Union Titanium 55 11.8% 11.8%   55 $36 No
Apply
Contact
Bank
Austral Credit Union Ltd Visa Credit Card 11.45% 11.1% 11.45 55   No
Apply
Contact
Bank
mecu mecu Low Rate VISA 9.74% 9.74%     $59 No
Apply
Contact
Bank
mecu mecu Visa Access Card         $19.8 No
Apply
Contact
Bank
mecu mecu VISA Credit Card 12.74% 12.74%   55   No
Apply
Contact
Bank
Macquarie Bank Macquarie Bank RateSaver Card 12.7% 19.7%   55 $50 No
Apply
Contact
Bank
ME Bank Members Equity MasterCard 11.49% 11.49%   44 $39 No
Apply
Contact
Bank
Australian Central Credit Union Australian Central MasterCard (Low Rate) 11.85% 11.85% 2.9 55 $45 Yes
Apply
Contact
Bank
ANZ ANZ Balance Visa - Special Offer 13.74% 20.99% 2.90 55 $79 Yes
Apply
Contact
Bank
ANZ ANZ Low Rate MasterCard - Special Offer 12.74% 20.99% 2.9 55 $58 No
Apply
Contact
Bank
Newcastle Permanent Building Society Newcastle Permanent Value+ 11.34% 15.84% 15.84 55 $45 No
Apply
Contact
Bank
Police Department Employees Credit Union Police Credit Union Visa Credit Card 11.49% 11.49%   55 $30 No
Apply
Contact
Bank
Police & Nurses PNCS Easypay VISA Credit Card 11.99% 11.99%   45 $36 No
Apply
Contact
Bank
Police & Nurses Visa Debit           No
Apply
Contact
Bank
Police Credit PC Visa Silver Credit Card 11.95% 11.95% 11.95 44   No
Apply
Contact
Bank
Suncorp Suncorp Clear Options Standard 11.74% 17.49%     $39 No
Apply
Contact
Bank
Sydney Credit Union SCU Visa Debit           No
Apply
Contact
Bank
Sydney Credit Union SCU Low Rate Visa Credit Card 10.64% 10.64%   55 $30 No
Apply
Contact
Bank
United Community United Community Low Rate MasterCard (Gold) 11.85% 11.85% 4.90 55 $75 No
Apply
Contact
Bank
United Community United Community Low Rate MasterCard (Silver) 11.85% 11.85% 4.90 55 $35 No
Apply
Contact
Bank
Victoria Teachers Credit Union VTCU Visa Credit Card 12.99% 12.99%   55   No
Apply
Contact
Bank
Westpac Westpac Low Rate 12.49% 20.49% 1.99 55 $45 No
Apply
Contact
Bank
Westpac Westpac BusinessChoice Everyday Card 13.99% 19.7%   45 $75 No
Apply
Contact
Bank
   

Low Interest Credit Card Offers Compared Online

Low Interest Credit Cards

Low Interest Credit Cards

Since Virgin and Aussie shook up the low interest credit card market in Australia we have seen low interest rate offers from the majority of Australian Banks and Credit Unions. We have a number of low interest credit cards within the comparison tables from Aussie, Citibank, St George, NAB, ANZ, and many more. .

At time of writing (June 2009) a low interest rate credit card is one where the purchase interest rate is below 14%. The average credit card interest rate in Australia is currently 17.5% for purchases and slightly higher for cash advances. Bankwest Lite MasterCard offers one of the lowest rates however the product does not offer a low balance transfer component and the cash advance rate on the card is around 20%, which we consider high. The Vertigo Card from St. George Bank has long been a strong offer in the low interest rate market with the balance transfer option being 0% for up to six months and a purchase interest rate currently at 10.99%.

When you compare credit cards it's important to look beyond the interest rate and other factors should taken into consideration. Such factors are; how you intend to use your credit card, repayment patterns, your expected outstanding balance and your annual spend. These factors will help you determine the type of credit card you're after, such as a low rate, low balance transfer, rewards, gold or platinum. Low interest credit cards are great for those who never seem to pay off their existing balance each month, but if you do then you might be better looking at a rewards type offer.

Compare the best low interest credit card offers within the Australian market. Review offers from Aussie, HSBC, Macquarie Bank, Citibank, Westpac, St.George, American Express, BankWest, ANZ and many more.

As Australian banks and financial institutions fight for market share in the AU card market these institutions use low interest rates as a way to attract new customers. As the credit squeeze starts to bit in Australia and the risk and cost of funds rise we have seen credit card interest rates in the low rate space rise some 3% over the past two years.

The main players over the past few years has been Aussie, with the Aussie MasterCard , Citibank with the Clear Visa, St.George Bank with Vertigo, HSBC’s Low Rate Visa, ANZ with their Low Rate MasterCard and BankWest with their Lite MasterCard. Virgin Money who really started to stir things up a few years ago has since exited the Market and sold the customer base the Westpac.

 

 

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