ANZ Low Rate MasterCard

• Get a 60 second response on your online application.
• Low ongoing interest rate on purchases
• Up to 3 additional cards at no extra cost
• Online Shopping guarantee
• MasterCard applause - be entertained with exclusive tickets to theatre, dance, musicals and sporting events
• MasterCard Travel Exclusives - special offers and great deals, simply for being a MasterCard cardholder
• ANZ Falcon provides advanced around the clock monitoring for suspicious transactions
• Apply before 12-06-12
• Read the terms and conditions

• Cheap balance transfer deal for 3 months
• Very low interest rate on purchases
• An affordable annual fee
• Instant approval for online applications
• Low minimum income required
• No rewards program
• Balance transfer offer is not interest free

How does the ANZ Low Rate MasterCard compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	ANZ Low Rate MasterCard	13.39%	21.49%	$58	0%	3 months
	The Average Credit Card	17.17%	21.04%	$95	3.04%	7 months

You can transfer from:



• Aussie
• Bank of Melbourne
• Bank of Queensland
• Bank SA
• Bankwest
• Citibank
• Coles
• Commonwealth Bank
• HSBC
• NAB
• St.George
• Suncorp
• Virgin
• Westpac
• Woolworths

You cannot transfer from:



• ANZ

The ANZ Low Rate MasterCard offers great rates and plenty of bonus features. It’s true to its name and will give you very low rates on purchases as well as balance transfers. Its features include security features, fun features and convenience features. For more details about this offer, read our comprehensive review of the ANZ Low Rate MasterCard below.

Pros

With a name like ANZ Low Rate MasterCard, you’d expect it to come with seriously low interest rates. Fortunately that’s exactly what you get! The low rates are the main attraction with this card, although there are other benefits. You can enjoy a very low 0% p.a. rate on balance transfers for the first 3 months (new applicants only), which, although not the cheapest offer on the market, can save you a lot of money over the introductory period. It’s almost 100% certain that you’re currently paying a lot more than you would if you transferred your balances to the ANZ Low Rate MasterCard. Once the introductory period expires, any of the balance transferred will be charged at the standard purchase rate of 13.39% p.a.

Apart from cheap balance transfers, the ANZ Low Rate credit card is extremely cheap to actually buy things with. Its ongoing purchase rate is just 13.39% p.a., which is much cheaper than the average purchase rate across the market. Even the $58 p.a. annual fee is on the low end too, although the 21.49% p.a. cash advance rate is comparable with the average.

Not only are the interest rates low, but so too is the minimum income required. At just $15,000, the ANZ Low Rate MasterCard has one of the lowest requirements for income of any card currently available.

With this card you get MasterCard Global Service, putting you in touch with a representative 24 hours a day, 365 days a year, worldwide emergency credit card replacement and access to a range of other services (Secure Sentinel, eDine, ANZ Wine Club, ANZ Car Rental Cover). So if you’re into convenience but aren’t looking for a dedicated rewards card, this one’s got it all!

If you’re looking for security, the card is covered by ANZ ‘Falcon’ which provides advanced around the clock monitoring for suspicious transactions and an online shopping guarantee.

Then of course there’s the fun stuff. You can design your own ANZ Low Rate card and enjoy MasterCard Applause and MasterCard Travel Exclusives. Applause offers you exclusive tickets to theatre, dance, musicals and sporting events and MasterCard Travel exclusives gives you special offers and great deals. All this just for being a MasterCard holder. Not bad.

Cons

Having a credit card with low rates won’t benefit you unless you make sure you’re on top of repayments, as with any other credit card. The balance transfer offer, whilst undoubtedly cheap, still charges interest. If you want to save as much money as possible and are prepared to apply for another credit card once the introductory balance transfer period of each card expires, then it may be cheaper for you to go with a 0% balance transfer card. However, these are limited in availability to say the least.

If you are interested in earning rewards or want extra features like complimentary travel insurance or purchase protection insurance, then look elsewhere. The ANZ Low Rate credit card is designed for one thing only: to be as cheap as possible, which isn’t a bad thing!

Conclusion

Suitable for anyone earning more than $15,000, this low rate credit card is a good pick, especially if you have a balance to transfer or use your card to shop with regularly. If you’re in a rush to get set up you’ll only need 10-15 minutes for the application process, and you’ll get a 60 second response to your online application with your new ANZ Low Rate MasterCard arriving within 5 business days.

1. vonnieQueenslandSept. 9, 2011

   delay in receiving cards about 4 wks and still waiting after approval. will not do any further banking with this bank.