How to Apply for your Low Rate Credit Card

The ANZ Low Rate Credit Card is a great option for those who want to keep their credit costs down while managing everyday spending. With a competitive purchase interest rate of 13.74% p.a., it’s particularly useful for individuals who may carry a balance from month to month. Plus, if you pay off your balance in full by the due date, you can take advantage of up to 55 days of interest-free credit on purchases.

The card also offers modern conveniences, supporting mobile payments through Apple Pay, Google Pay, and Samsung Pay. Security is a priority, with 24/7 fraud monitoring via ANZ Falcon, ensuring that your transactions remain safe and protected.

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Options within the ANZ Low Rate Credit Card

The Card comes with attractive introductory offers, providing even more value for those looking to manage their finances efficiently. ANZ presents two great offers, giving you the flexibility to choose the one that best suits your needs: the Balance Transfer Offer or the Credit Back Offer.

1st option: Balance Transfer Offer

The Balance Transfer Offer is ideal for those looking to consolidate existing credit card debt, offering 0% p.a. on balance transfers for up to 26 months. This allows you to pay off debt faster without accruing interest. A 3% balance transfer fee applies, and after the promotional period, the rate reverts to 21.99% p.a..

Additionally, new customers enjoy no annual fee for the first year (normally $58), making this a cost-effective option for those seeking to reduce upfront costs while exploring the card’s benefits.

2nd option: Credit Back Offer

Get $250 cashback on your new ANZ credit card when you spend $1,500 on eligible purchases within the first 3 months of approval. This offer helps you maximize your card’s value from the start, providing instant savings and lowering your overall expenses.

Benefits of the ANZ Low Rate Credit Card

The ANZ Low Rate Credit Card is a smart choice for those who want to keep credit costs low without worrying about complex rewards programs. With its low ongoing interest rate and straightforward features, this card prioritizes affordability over perks, making it ideal for anyone who carries a balance or wants to consolidate debt.

Low Interest Rate on Purchases

One of the biggest advantages of this card is its competitive 13.74% p.a. purchase interest rate, which is significantly lower than many other credit cards. This makes it a good option for those who occasionally carry a balance, as it helps reduce interest costs over time.

Up to 55 Days Interest-Free on Purchases

By paying the full balance by the due date each month, cardholders can benefit from up to 55 days of interest-free credit on purchases. This feature helps with cash flow management, ensuring that short-term expenses don’t immediately accrue interest.

Mobile Payment Compatibility

For added convenience, the ANZ Low Rate Credit Card supports Apple Pay, Google Pay, and Samsung Pay, allowing for quick and secure contactless payments with a smartphone or smartwatch.

Security and Fraud Protection

ANZ prioritizes security with 24/7 fraud monitoring through ANZ Falcon and the ANZ Fraud Money Back Guarantee, ensuring that unauthorized transactions are covered. The card also includes an embedded microchip for enhanced protection against fraud and counterfeit activity.

Prerequisites to Obtain the ANZ Low Rate Credit Card

Before applying for the ANZ Low Rate Credit Card, applicants must meet certain eligibility criteria. Here’s what you need to qualify:

• Age Requirement – You must be at least 18 years old to apply.
• Residency Status – The card is available to Australian and New Zealand citizens as well as permanent residents. Non-residents may also apply, but they must hold an eligible visa with at least 12 months of validity remaining at the time of application.
• Financial Information – Applicants will need to provide details about their income, expenses, assets, and liabilities to assess their ability to manage repayments.
• Proof of Identity – A valid Australian driver’s license or another form of identification is required to verify identity.
• Credit History – A good credit history is important, as ANZ will review your credit score and financial background during the application process. While it’s not the only factor considered, it plays a key role in approval.

Meeting these prerequisites increases your chances of a successful application, ensuring that you can take full advantage of the card’s benefits.

About ANZ Bank

Australia and New Zealand Banking Group (ANZ) is a financial institution that has been in operation for almost 200 years and is one of the largest in the region. The Bank of Australasia, was subsequently merged with the Union Bank of Australia to create ANZ. The English, Scottish, and Australian Bank (ES&A) was merged with the bank, resulting in the creation of the modern incarnation of the bank.

ANZ has expanded to become the largest bank in New Zealand and one of the “Big Four” institutions in Australia. The bank serves over 8.5 million consumers in more than 30 countries. ANZ has a robust presence in retail and commercial banking and has consistently innovated in financial services.

Who is this Card for?

The ANZ Low Rate Credit Card is designed for people who value low interest rates more than incentives and other benefits. It is appropriate for people who sometimes carry a load or want to consolidate their debt by transferring their balance.

This card is especially advantageous for consumers who want to manage their money with low fees and a simple method for dealing with interest rates. Additionally, it is an excellent option for people who want to keep their credit card usage simple and do not want to deal with the complications of rewards schemes.

Step by Step to Apply for the ANZ Low Rate Credit Card

Applying for the ANZ Low Rate Credit Card is a simple process. Follow these steps to ensure a smooth application:

• Visit the Official ANZ Website: Go to the ANZ Low Rate Credit Card page by clicking on the button below to begin your application.
• Check Eligibility: Before applying, confirm that you meet the eligibility requirements, such as being at least 18 years old and an Australian or New Zealand citizen, permanent resident, or visa holder (with at least 12 months of validity).
• Gather Necessary Documents: Prepare personal and financial details (income, expenses, assets, liabilities), and proof of identity (e.g., Australian driver’s license or passport)
• Choose Option 1 or 2 and Complete the Online Application: Choose if you want to apply with the introductory offer 1 or 2 and fill out the online application form on the ANZ website.

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Positives and Negatives of the ANZ Low Rate Credit Card

Although the card has several attractive qualities, it is essential to consider both the advantages and disadvantages before determining whether or not it is suitable for you.

Positives

• Low Purchase Interest Rate – With a competitive 13.74% p.a. purchase rate, this card offers a lower interest cost than many standard credit cards. If you occasionally carry a balance, this can help reduce interest charges.
• 0% Balance Transfer for 26 Months (if option 1 is selected) – Transfer existing debt to the card and enjoy 0% interest for up to 26 months. This can be a great tool for consolidating debt and reducing interest payments. A 3% balance transfer fee applies, and after the promotional period, the interest rate reverts to 21.99% p.a.
• First Year Annual Fee Waiver (if option 1 is selected) – New customers don’t have to pay the $58 annual fee for the first year, offering initial savings when signing up.
• $250 Cashback Offer (if option 2 is selected) – Spend $1,500 on eligible purchases within the first three months, and you’ll receive $250 cashback as a credit on your card, adding extra value.
• Up to 55 Days Interest-Free on Purchases – If you pay your full balance by the due date, you can enjoy up to 55 days of interest-free credit, giving you more time to manage payments.
• No Additional Cardholder Fee – You can add up to three additional cardholders at no extra cost, making it a great option for families who want to share a credit limit without extra fees.

Negatives

• High Cash Advance Interest Rate – If you withdraw cash using this card, you’ll be charged a steep 21.99% p.a. interest rate, making cash advances an expensive option.
• Balance Transfer Fee – A regular fee of 3% applies to the transferred amount if option 2 is selected, or after 26 months if option 1 is chosen.
• No Rewards Program – Unlike some other credit cards, this one doesn’t offer rewards points, which might be a drawback for those who like to earn rewards on their spending.
• Foreign Transaction Fees – Starting 2 May 2025, the Overseas Transaction Fee will increase from 3% to 3.5%, applying to all overseas transactions processed on credit card accounts from that date.
• Annual Fee – The annual fee is $58 from the outset if option 2 is selected, or it will be charged regularly after 1 year if option 1 is chosen.

How to Activate the ANZ Low Rate Credit Card

Once you receive your ANZ Low Rate Credit Card, activating it is quick and simple. Here are the available methods:

• Via the ANZ App: Log in, select “More,” tap “Activate Card,” set your PIN, and you’re all set.
• Via Internet Banking: Log in, go to “Settings,” select “Activate Card,” and follow the instructions.

Once activated, your card is ready to use for purchases, online transactions, and contactless payments.

Fees and Tariffs

Here’s a breakdown of the key fees and charges associated with the ANZ Low Rate Credit Card:

• Annual Fee – $58, but waived for the first year (if option 1 is selected), giving you an initial cost-saving. For option 2, the annual fee of $58 applies immediately from the start.
• Purchase Interest Rate – 13.74% p.a., a competitive rate compared to many other credit cards.
• Cash Advance Interest Rate – 21.99% p.a. applies to any cash withdrawals or cash-equivalent transactions.
• Balance Transfer Rate – 0% p.a. for up to 26 months (if option 1 is selected), with a 3% balance transfer fee. After the promotional period of option 1, the rate reverts to 21.99% p.a. For option 2, the rate of 21.99% applies immediately from the start.
• Late Payment Fee – $20 if you miss a payment deadline.
• Foreign Transaction Fee – 3% of the transaction amount for purchases made in a foreign currency. And, starting 2 May 2025, the Overseas Transaction Fee will increase from 3% to 3.5%.
• Cash Advance Fee – 3% of the withdrawn amount, with a minimum charge of $3.
• Additional Cardholders – Up to 3 additional cardholders at no extra cost, making it a flexible choice for families.

Understanding these fees can help you get the most value from your card while avoiding unnecessary charges.

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Customer Service

If you need assistance with your ANZ Low Rate Credit Card, here are the official ways to get in touch with ANZ:

• General Enquiries (Australia): 13 13 14.
• Credit Card Support: 13 22 73.
• Overseas Assistance: +61 3 9683 9999.
• Lost or Stolen Cards: 1800 033 844 (Australia) / +61 3 8699 6955 (Overseas).