• Just 2.99% p.a. on balance transfers for the first 12 months. Limited offer!
• And only 9.99% p.a. on purchases for the first 12 months.
• Up to 55 days interest-free credit on purchases.
• A low annual fee of only $49.

• Cheap long term deal on balance transfers
• Affordable $49 p.a. annual fee
• Low interest rate on purchases
• Instant decision within 60 seconds of application
• No rewards program

How does the Aussie 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
	Aussie MasterCard	13.29%	19.99%	$49	2.99%	12 months
	The Average Credit Card	17.15%	21.03%	$96	2.86%	7 months

The average credit card can have some pretty high rates, but the Aussie MasterCard is not an average credit card by any stretch of the imagination. This is a no nonsense card that offers some great low rates and a low annual fee. If you’re looking for a cheap card to save money, this is one of the best contenders.

Pros

The Aussie MasterCard doesn’t offer any frills like rewards and insurance, but it does give you a really low $49 p.a. annual fee, and features like 24/7 online or over the phone account access, fraud protection (Aussie will actually call you if they spot any suspicious use of your credit card), the freedom of use that comes with a MasterCard all over Australia and overseas and the longer interest free period of 55 days. All the basics you’d want.

Arguably its biggest draw is the very low 2.99% p.a. introductory interest rate for 12 months on balance transfers. 2.99% p.a. is definitely not the cheapest you’ll find, but the balance transfer period is for the long term and should give you plenty of time to get rid of your debt, or at least make a sizable dent in it. After this time the rates do revert to the higher 13.29% p.a. purchase rate, but as we’ll discuss below this rate is still highly competitive.

Not only does the Aussie MasterCard boast a competitive balance transfer deal, but it also has a standard purchase rate that’s well below the market average. At 13.29% p.a., the Aussie MasterCard’s purchase rate makes spending much more affordable compared to the average card. Even better, this low rate isn’t an introductory offer and has been grandfathered for as long as your account is open.

At just $49 p.a., it won’t cost much at all to keep your Aussie MasterCard account open. This is a no frills credit card, and the low annual fee reflects this ethos.

The card doesn’t offer a rewards scheme, but Aussie have been intentional about this. Often you have to pay higher annual fees and interest rates for cards that offer rewards so instead of paying more for rewards you may not even use, you can spend the money on things you actually want, when you want them.

Lastly, Aussie’s minimum income criteria is on the low side at just $15,000, making the Aussie MasterCard an ideal option for first timer’s or alternatively for low earners.

Cons

Additional card holders will cost you extra and there are some additional fees and charges, but these can all be avoided if you’re smart about the way you use your card (except for the overseas transaction fee which is normal). As stated above there is no rewards scheme, but if you are looking for a cheap credit card to help cover the cost of one off expenses then this won’t really matter anyway. There are cards out there with fantastic rewards programs that don’t cost a fortune, but if you’re not a high spender and aren’t looking for that, stick with a simple card like this.

The balance transfer offer may have one of the longer introductory periods currently available, but its 2.99% p.a. balance transfer interest rate is not the cheapest either. There is a small choice of 0% balance transfer cards, but the compromise with them is that the introductory rate is usually in around 3 – 9 months and the rate reverts to a standard purchase rate that’s higher than that of the Aussie MasterCard.

Conclusion

This straight forward card can work well for someone who’s looking for a basic low rate card that’s going to save them money whether on a transferred balance or on everyday purchases.