The ANZ Low Rate card is a Visa credit card that is designed with a lower interest rate on purchases than other credit cards. However, it does not offer any other benefits or rewards.

Promotion: ANZ Low Rate current balance transfer offer

If you’ve already built up some non-ANZ credit card debt and are struggling to pay it off with interest, then consider the current promotion of 30 months at a 0% p.a. balance transfer rate with no Balance Transfer fee. It’s especially helpful if you have debts with multiple providers, as you can consolidate those debts onto one card account.

This means ANZ will pay off your debt on the other card account(s) and transfer the amount to this new Low Rate card, as long as you request this at the time of application.

You’ll have the 30 month promo period to pay off this balance with a 0% p.a. interest rate, which is really handy for avoiding more interest charges if you’re disciplined enough. You won’t get charged the $58 annual fee in the first year, but it will apply from the second year onwards.

The 0% p.a. promotional rate converts back to the usual 21.24% p.a. balance transfer rate after the 30 month promo period is over, so make sure you pay it off before then.

Important: While you have an outstanding balance transfer, interest-free periods on purchases do not apply if you do not pay the Closing Balance shown on each statement of account in full by the applicable due date. This means that you may have to start paying interest on new purchases straight away if you have an existing balance transfer. Promo period starts when ANZ issue a Letter of Offer, not when the balance transfer is processed (usually 3-15 business days after card activiation). Rate reverts to standard BT rate, currently 21.24% p.a.. T&Cs, eligibility criteria, fees and charges apply (including $58 annual fee after first year).

Card Details

CardANZ Low Rate credit card 
Loyalty programN/A
Points earned from spendN/A
International transaction fee3%
Minimum IncomeUnspecified
Annual fee$58 p.a. ongoing
Mobile WalletApple Pay, Google Pay, and Samsung Pay

Effective Frequent Flyer Program Point Earn Rates

This is not a rewards credit card, so no points are earned on transactions. However, it comes with Visa Entertainment perks and offers including discounts at retailers.

Explained: the lower interest rate on purchases

The main reason you might consider this credit card is the balance transfer offer and the lower rate on purchases, which is currently 12.49% p.a. This means you’ll owe less interest overall each statement if you don’t pay off your credit card purchases in full each month, compared to other cards.

Take note that ANZ’s standard interest rate on cash advances and standard balance transfers remains at 21.24% p.a on this card, which is quite high if you are accumulating debt. Try to avoid withdrawing cash out of any credit card if you can avoid it.

Summing up

The ANZ Low Rate credit card is for those who would like to minimise the interest charged on credit card purchases if they can’t pay off the full balance each month.

The current balance transfer promotion is also great for consolidating debt into one account and paying it off over 30 months with no extra interest charges during the promotional period.

Terms and conditions

Terms and conditions and exclusions apply. Click here to find out more.

ANZ Low Rate credit card – 0% p.a. balance transfer rate for a 30 month promo period with no BT fee and $0 Annual Fee in the first year was last modified: June 27th, 2022 by Evin Tan Khiew