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American Express Low Rate Credit Card

2 reviews

Purchase rate

2.99% for 6 months
reverts to 12.69% p.a.

Balance transfer

N/A

Annual fee

$59 p.a.
59% Complete (success)

Pros

2.99% p.a. for the first 6 months on purchases when you apply and are approved. This reverts to a low 12.69% p.a. on purchases after the 6 months

Global Card Support gives you account assistance any time of the day or night - help is just a phone call away.

Emergency Card Replacement

If you pay your balance off in full each month you receive up to 55 days interest free on purchases

Up to 4 Supplementary Cards at no extra cost

Cons

No rewards program

American Express Low Rate Credit Card

Key features

  • 2.99% p.a. for the first 6 months on purchases when you apply and are approved. This reverts to a low 12.69% p.a. on purchases after the 6 months
  • Global Card Support gives you account assistance any time of the day or night - help is just a phone call away.
  • Emergency Card Replacement
  • If you pay your balance off in full each month you receive up to 55 days interest free on purchases
  • Up to 4 Supplementary Cards at no extra cost
100% of customers who have rated this card would recommend it
  • Rates
    89%
  • Fees
    78%
  • Rewards
    N/A
  • Customer Service
    77%
  • Value
    45%
Overall user rating 64%
2 reviews
Interest Rates
Purchase rate 12.69% p.a.
Introductory purchase rate 2.99% p.a. for 6 months
Cash advance rate N/A
Interest free on purchases up to 55 days
Balance Transfer
Credit limits
Minimum credit limit $N/A
Maximum credit limit N/A
Fees & repayments
Annual fee $59 p.a.
Additional cardholder fee Up to 4 at no extra cost
Cash advance fee N/A
Minimum repayment $10 or 3%
Credit card type American Express
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No

Our review of the American Express Low Rate Credit Card

Once you’ve spent as much time as we have comparing credit cards, you’ll know that’s it’s not all glossy features, extravagant extras and enticing rewards programs. While those certainly are appealing, sometimes you have to go for the simple option. When money-saving is more important than perks, we’ve found simple is almost always better.

Which is exactly what the American Express Low Rate Credit Card is offering. While it may not have the wow factor of some other American Express options, the American Express Low Rate Credit Card could help you save some serious money – especially if you tend to carry a balance month-to-month.

With a super low rate – and 2.99% p.a. on purchases for the first six months – this card could be a real money-saver. And because it’s brought to you by American Express, you know it’s got all the basics covered too, with exceptional customer service, security and account accessibility always easily at hand.

What we love...

As you would expect, the thing we love most about the American Express Low Rate Credit Card is its low cost. Not only does it have a low annual fee, it also has a low standard purchase rate. Add to that its introductory offer – giving you 2.99% p.a. on purchases for the first six months – and this card turns out to be a real low-cost winner.

One of the other great things about the American Express Low Rate Credit Card is its simplicity. Credit cards packed with features and rewards can get somewhat complicated. You have to find out how those features and rewards work in order to make the most of them. Otherwise you are paying for extras that you don’t really use.

Of course, the American Express Low Rate Credit Card provides all the basics you need in a card, including account accessibility, security and customer service. But that’s it. No need to worry about intricate rewards programs or complex features with heaps of small print. As long as you understand what you’re getting, this card is pretty awesome.

What’s not so great...

While the card’s purchase rate is nice and low, its cash advance rate is much higher. There is also a $2 fee for cash advances within New Zealand and a $5 fee for cash advances overseas, and unlike purchases, there are no interest free days. This is pretty standard for credit cards, so the best thing to do is avoid cash advances altogether.

There are other fees to be on the lookout for as well, with a $25 late payment fee and $25 dishonour fee lurking around, potentially making life expensive for you. However, if you avoid unnecessary fees and treat your card correctly, then there’s really not much to complain about with the American Express Low Rate Credit Card.

Why should you choose this card?

Looking for reasons to apply for the American Express Low Rate Credit Card? Read on to find out why applying for this card may just be the best thing you do today.

Introductory Offer

Everyone loves a good introductory offer! Giving you 2.99% p.a. on purchases for the first six months from account opening, this intro offer could help you save money on your spending. Whether it helps you save on interest on your day-to-day spending, or even on a big purchase, this offer lets you pay less in interest, so you can pay down your balance quicker.

Take note that this intro rate does not apply to balance transfers, and only applies to new spending on the card within the first six months. After that introductory six month period, any balance left unpaid will revert to the card’s standard purchase rate. While this is low, it’s best to clear your balance whenever possible to avoid interest charges.

Keeping Costs Low

As the name of the card suggests, this is a low rate card, so it helps to save you money on interest. But, with a relatively low annual fee, the American Express Low Rate Credit Card can also help to keep costs low with minimal output in the form of fees.

As a cardholder, you can also benefit from up to four supplementary cardholders at no extra cost, helping to save you even more money. Bear in mind that supplementary cardholders must be 18 years or older, and as the primary accountholder, you will be liable for all spending on supplementary cards on your account.

In terms of further interest savings, the American Express Low Rate Credit Card gives you up to 55 days interest free on purchases. Again, this could come in handy for everyday spending or when making a larger purchase. All you need to do to take advantage of this is clear your balance by the due date – and read the terms and conditions to ensure you understand how it works!

Customer Service

American Express is known for its customer service, so as a cardholder, you know have support should you need it. The American Express Low Rate Credit Card offers an Online Fraud Protection Guarantee, helping to keep you safe when shopping online, as this guarantee means you will not be held liable for any unauthorised charges.

You can also benefit from emergency card replacement, from pretty much anywhere in the world. If your card is lost or stolen, simply call American Express, and they will usually have it replaced within 48 hours. This is also backed up by Global Card Support available day and night, and online access to your account via smartphone, tablet or computer.

Overall Rating

A simple, low rate credit card with an affordable annual fee, backed by excellent customer service, easy accessibility and an introductory purchase rate of 2.99% p.a. for the first six months.

(showing the latest 10 Q&As)

  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Permanent Resident or New Zealand Citizen
  • You have your personal details ready to complete the online application
American Express Low Rate Credit Card
American Express Low Rate Credit Card

American Express Low Rate Credit Card

Updated 8 July 2019

Purchase Rate (p.a)

2.99% p.a.

for 6 months. Reverts to 12.69% p.a.

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$59

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 2.99% p.a. for the first 6 months on purchases when you apply and are approved. This reverts to a low 12.69% p.a. on purchases after the 6 months
  • Global Card Support gives you account assistance any time of the day or night - help is just a phone call away.
  • Emergency Card Replacement
  • If you pay your balance off in full each month you receive up to 55 days interest free on purchases
  • Up to 4 Supplementary Cards at no extra cost

  • No rewards program

Creditcard.co.nz review

Editor Review

Our review of the American Express Low Rate Credit Card

Once you’ve spent as much time as we have comparing credit cards, you’ll know that’s it’s not all glossy features, extravagant extras and enticing rewards programs. While those certainly are appealing, sometimes you have to go for the simple option. When money-saving is more important than perks, we’ve found simple is almost always better.

Which is exactly what the American Express Low Rate Credit Card is offering. While it may not have the wow factor of some other American Express options, the American Express Low Rate Credit Card could help you save some serious money – especially if you tend to carry a balance month-to-month.

With a super low rate – and 2.99% p.a. on purchases for the first six months – this card could be a real money-saver. And because it’s brought to you by American Express, you know it’s got all the basics covered too, with exceptional customer service, security and account accessibility always easily at hand.

What we love...

As you would expect, the thing we love most about the American Express Low Rate Credit Card is its low cost. Not only does it have a low annual fee, it also has a low standard purchase rate. Add to that its introductory offer – giving you 2.99% p.a. on purchases for the first six months – and this card turns out to be a real low-cost winner.

One of the other great things about the American Express Low Rate Credit Card is its simplicity. Credit cards packed with features and rewards can get somewhat complicated. You have to find out how those features and rewards work in order to make the most of them. Otherwise you are paying for extras that you don’t really use.

Of course, the American Express Low Rate Credit Card provides all the basics you need in a card, including account accessibility, security and customer service. But that’s it. No need to worry about intricate rewards programs or complex features with heaps of small print. As long as you understand what you’re getting, this card is pretty awesome.

What’s not so great...

While the card’s purchase rate is nice and low, its cash advance rate is much higher. There is also a $2 fee for cash advances within New Zealand and a $5 fee for cash advances overseas, and unlike purchases, there are no interest free days. This is pretty standard for credit cards, so the best thing to do is avoid cash advances altogether.

There are other fees to be on the lookout for as well, with a $25 late payment fee and $25 dishonour fee lurking around, potentially making life expensive for you. However, if you avoid unnecessary fees and treat your card correctly, then there’s really not much to complain about with the American Express Low Rate Credit Card.

Why should you choose this card?

Looking for reasons to apply for the American Express Low Rate Credit Card? Read on to find out why applying for this card may just be the best thing you do today.

Introductory Offer

Everyone loves a good introductory offer! Giving you 2.99% p.a. on purchases for the first six months from account opening, this intro offer could help you save money on your spending. Whether it helps you save on interest on your day-to-day spending, or even on a big purchase, this offer lets you pay less in interest, so you can pay down your balance quicker.

Take note that this intro rate does not apply to balance transfers, and only applies to new spending on the card within the first six months. After that introductory six month period, any balance left unpaid will revert to the card’s standard purchase rate. While this is low, it’s best to clear your balance whenever possible to avoid interest charges.

Keeping Costs Low

As the name of the card suggests, this is a low rate card, so it helps to save you money on interest. But, with a relatively low annual fee, the American Express Low Rate Credit Card can also help to keep costs low with minimal output in the form of fees.

As a cardholder, you can also benefit from up to four supplementary cardholders at no extra cost, helping to save you even more money. Bear in mind that supplementary cardholders must be 18 years or older, and as the primary accountholder, you will be liable for all spending on supplementary cards on your account.

In terms of further interest savings, the American Express Low Rate Credit Card gives you up to 55 days interest free on purchases. Again, this could come in handy for everyday spending or when making a larger purchase. All you need to do to take advantage of this is clear your balance by the due date – and read the terms and conditions to ensure you understand how it works!

Customer Service

American Express is known for its customer service, so as a cardholder, you know have support should you need it. The American Express Low Rate Credit Card offers an Online Fraud Protection Guarantee, helping to keep you safe when shopping online, as this guarantee means you will not be held liable for any unauthorised charges.

You can also benefit from emergency card replacement, from pretty much anywhere in the world. If your card is lost or stolen, simply call American Express, and they will usually have it replaced within 48 hours. This is also backed up by Global Card Support available day and night, and online access to your account via smartphone, tablet or computer.

Overall Rating

A simple, low rate credit card with an affordable annual fee, backed by excellent customer service, easy accessibility and an introductory purchase rate of 2.99% p.a. for the first six months.

User reviews

American Express Low Rate Credit Card ( based on 2 Creditcard.co.nz user reviews )

64% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 12.69% p.a.

Introductory purchase rate 2.99% p.a. for 6 months

Cash advance rate N/A

Interest free on purchases up to 55 days

Credit limits

Minimum credit limt $N/A

Maximum credit limit N/A

Fees & repayments

Annual fee $59 p.a.

Additional card holder fee Up to 4 at no extra cost

Foreign transaction fee N/A

Minimum repayment $10 or 3%

Cash advance fee N/A

Late payment fee $25

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Overview

American Express Low Rate Credit Card

Key features

  • 2.99% p.a. for the first 6 months on purchases when you apply and are approved. This reverts to a low 12.69% p.a. on purchases after the 6 months
  • Global Card Support gives you account assistance any time of the day or night - help is just a phone call away.
  • Emergency Card Replacement
  • If you pay your balance off in full each month you receive up to 55 days interest free on purchases
  • Up to 4 Supplementary Cards at no extra cost

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Permanent Resident or New Zealand Citizen

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.co.nz in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

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(showing the latest 10 Q&As)

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