If you are sometimes find that you are unable to pay your card off in full each month, you want to make sure you are paying the least amount of interest possible on that credit card debt.
It could be worth looking at the low rate cards that are available, with rates as low as 7.99% p.a. currently available.
But there’s more to a credit card than just the interest rate! Don’t forget to look for the features you need in a card.
Thankfully, we can help you there. When it comes to low rate credit cards, we only give a 5-star rating for outstanding value to the low rate cards that provide outstanding value to consumers.
Top 12 low rate credit cards
Below is a table of the low rate credit cards that have received our highest rating, a 5-star rating for outstanding value, in our 2017 Credit Cards Star Ratings:
|Bank Australia||Low Rate Visa Credit Card|
|Community First CU||Low Rate Visa Cred Card|
|Community First CU||McGrath Pink Visa Card|
|G&C Mutual Bank||Low Rate Visa Credit Card|
|Northern Inland CU||Low Rate Visa Credit Card|
|Police Bank||Visa Credit Card|
|SCU||Low Rate Visa Credit Card|
|Select Encompass Credit Union||Visa Credit Card|
|Teachers Mutual Bank||Teachers Credit Card|
|UniBank||Visa Credit Card|
|Victoria Teachers Mutual Bank||Visa Platinum Credit Card|
|Woolworths Employees CU||Low Rate Credit Card|
|Source: CANSTAR Credit Cards Star Ratings, April 2017.|
In the market for a low rate 5-star rated credit card? Check out our comparison table below which displays a snapshot of the current low rate credit cards (lowest to highest) available on the market. Please note that this table has been formulated based on a $2,000 monthly spend and filtered to include only 5-star rated products.
What you need to know about credit card interest rates
Don’t just blindly assume that a low rate card will save you money. You also need to consider how you use the card in order to save money on interest:
- How credit card interest is charged
- How interest-free days work
- What is a credit card revert rate? Will your card have one?
- What about the interest rates on balance transfers?
Compare low rate cards and other types of credit cards using the Canstar website:
CANSTAR provides an information service. It is not a credit provider, and in giving you information about credit products, Canstar is not making any suggestion or recommendation to you about a particular product. If you decided to apply for a credit card, you will deal directly with a financial institution and not with CANSTAR. Rates and product information should be confirmed with the relevant financial institution. Please see Canstar’s Financial Services and Credit Guide (FSCG) for more information, and read our detailed disclosure, important notes and liability disclaimer.
The Star Ratings in this table were awarded in October 2016. The search results do not include all providers and may not compare all features relevant to you. View the CANSTAR Credit Card Star Ratings Methodology and Report. The rating shown is only one factor to take into account when considering products.
Sponsored products are paid advertisements and do not include all providers. Canstar receives a fee for referring you to the advertiser. Canstar may receive a fee for referral of leads from these products. See How We Get Paid for further information. Canstar is an information provider and in giving you product information Canstar is not making any suggestion or recommendation about a particular credit card product. If you decide to apply for a credit card, you will deal directly with a financial institution, and not with Canstar. Rates and product information should be confirmed with the relevant financial institution. For more information, read our detailed disclosure, important notes and additional information.
The Star Ratings in this table were awarded in May, 2017. The search results do not include all providers and may not compare all features relevant to you. View the Canstar Credit Cards Star Ratings Methodology and Report. The rating shown is only one factor to take into account when considering products.