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ANZ Low Rate Visa Credit Card

Purchase rate

13.90% p.a.

Balance transfer

1.99% 12 months
1.99% Complete (success)
reverts to 13.90% p.a. No BT fee

Annual fee

$0 first year
0% Complete (success)
then $35

Pros

1.99% p.a. for 12 months on the transferred balance

13.90% p.a. interest rate on purchases

$0 annual fee for the first year. $35 p.a. annual fee charged $17.50 half-yearly

Up to 55 days interest free on purchases

Cons

Nothing really

ANZ Low Rate Visa Credit Card

Key features

  • 1.99% p.a. for 12 months on the transferred balance
  • 13.90% p.a. interest rate on purchases
  • $0 annual fee for the first year. $35 p.a. annual fee charged $17.50 half-yearly
  • Up to 55 days interest free on purchases
100% of customers who have rated this card would recommend it
  • Rates
    90%
  • Fees
    90%
  • Rewards
    N/A
  • Customer Service
    90%
  • Value
    90%
Overall user rating 72%
2 reviews
Interest Rates
Purchase rate 13.90% p.a.
Cash advance rate 20.95% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Balance transfer rate 1.99% p.a. for 12 months
Balance transfer fee No fee
Balance Transfer revert rate 13.90% p.a.
Balance transfer from personal loan N/A
Banks you can't balance transfer from ANZ
Credit limits
Minimum credit limit $N/A
Maximum credit limit N/A
Fees & repayments
Annual fee $35 p.a.
Annual fee first year $0
Additional cardholder fee $10 p.a.
Cash advance fee $0
Foreign transaction fee 2.5%
Late payment fee $12
Credit card type Visa
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
Extras
Eligible with Apple Pay & Google Pay

The ANZ Low Rate Visa

Helping to keep costs low, the ANZ Low Rate Visa offers cardholders a decent no frills option with a couple of enticing introductory offers currently on the table. New cardholders can benefit from a $0 annual fee for the first year – after which, it reverts to an affordable account fee paid every six months – as well as 1.99% p.a. on balance transfers for the first year.

What we love...

Aptly named the ANZ Low Rate Visa, this card provides a low ongoing purchase rate, which just so happens to be the lowest rate offered throughout ANZ’s credit card range. This could make it a worthy option for cardholders who tend to carry a balance each month, as interest paid on that balance will accrue at a slower pace than on more showy cards with higher purchase rates.

However, if you do clear your balance by the due date each month, you can take advantage of the ANZ Low Rate Visa’s interest free feature. This provides up to 55 days interest free on purchases, depending on when the purchase is made during the card’s statement cycle. If you want to take advantage of this feature, we recommend taking time out to acquaint yourself with the fine print.

As one part of the card’s introductory offer, the ANZ Low Rate Visa waives the annual fee for new cardholders. This means, as a new cardholder, you will pay no annual fee for the first year. After that, you will be charged a low account fee every six months. If you choose to add an additional cardholder to the account, that comes at a small fee, again charged every six months.

What’s not so great...

What we need to emphasise here is the fact that this is a no frills card. It keeps it basic. That means no rewards, no fancy features. We don’t necessarily think this is a bad point, but if you’re looking for something more from your credit card, you may need to look elsewhere. Aside from that, the main negative point is the card’s cash advance rate, which is high, but also avoidable.

Why should you choose this card?

Obviously, if you’re looking for a low cost card, the ANZ Low Rate Visa could very well be the card for you. You will not only save on interest, but you can also save on annual fees as well. This can make it a great choice for those who carry a balance, as we said, and also for anyone who likes to keep it simple, with fewer features, no rewards, and a nice low annual fee.

However, one thing that is worth pointing out is the ANZ Low Rate Visa’s balance transfer offer. New cardholders who want to pay down existing credit card debt could transfer their balance onto the ANZ Low Rate Visa to enjoy a balance transfer rate of 1.99% p.a. for 12 months. Now, this is exactly the type of card that can work well for balance transfers. Why?

The point of doing a balance transfer is to save money on interest as you pay down your balance. Fancy features and spending to earn rewards are likely to distract you from this. By choosing a card such as the ANZ Low Rate Visa, you could save on interest on your transferred balance, and on your annual fee, allowing you to pay off as much of that debt as possible.

If you fail to pay off your transferred balance within the introductory period, it will revert to the card’s low interest rate – unlike other cards, which revert to a higher purchase rate, or an even higher cash advance rate.

Of course, being a big bank, ANZ also provides all the other standard features we’ve come to expect from having a credit card. This includes security features such as Visa Zero Liability and fraud monitoring, as well as access to your account via phone banking, ANZ Internet Banking, ANZ goMoney, at ATMs, or at any ANZ branch.

Overall Rating

A basic option for cardholders who want to save on interest and annual fees, the ANZ Low Rate Visa is currently offering a $0 annual fee for the first year and 1.99% p.a. on balance transfers for 12 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
ANZ Low Rate Visa Credit Card
ANZ Low Rate Visa Credit Card

ANZ Credit Cards

ANZ Low Rate Visa Credit Card

Updated 19 August 2019

New cardholders can benefit from a $0 annual fee for the first year – after which, it reverts to an affordable account fee paid every six months – as well as 1.99% p.a. on balance transfers for the first year.

T&Cs apply.

Purchase Rate (p.a)

13.90%

Balance Transfer (p.a)

1.99% for 12 months No BT fee. reverts to 13.90% p.a.

Annual Fee (p.a)

$0 first year. Then $35 p.a.

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 1.99% p.a. for 12 months on the transferred balance
  • 13.90% p.a. interest rate on purchases
  • $0 annual fee for the first year. $35 p.a. annual fee charged $17.50 half-yearly
  • Up to 55 days interest free on purchases

  • Nothing really

Creditcard.co.nz review

Editor Review

ANZ Low Rate Visa Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.co.nz. about this card.

The ANZ Low Rate Visa

Helping to keep costs low, the ANZ Low Rate Visa offers cardholders a decent no frills option with a couple of enticing introductory offers currently on the table. New cardholders can benefit from a $0 annual fee for the first year – after which, it reverts to an affordable account fee paid every six months – as well as 1.99% p.a. on balance transfers for the first year.

What we love...

Aptly named the ANZ Low Rate Visa, this card provides a low ongoing purchase rate, which just so happens to be the lowest rate offered throughout ANZ’s credit card range. This could make it a worthy option for cardholders who tend to carry a balance each month, as interest paid on that balance will accrue at a slower pace than on more showy cards with higher purchase rates.

However, if you do clear your balance by the due date each month, you can take advantage of the ANZ Low Rate Visa’s interest free feature. This provides up to 55 days interest free on purchases, depending on when the purchase is made during the card’s statement cycle. If you want to take advantage of this feature, we recommend taking time out to acquaint yourself with the fine print.

As one part of the card’s introductory offer, the ANZ Low Rate Visa waives the annual fee for new cardholders. This means, as a new cardholder, you will pay no annual fee for the first year. After that, you will be charged a low account fee every six months. If you choose to add an additional cardholder to the account, that comes at a small fee, again charged every six months.

What’s not so great...

What we need to emphasise here is the fact that this is a no frills card. It keeps it basic. That means no rewards, no fancy features. We don’t necessarily think this is a bad point, but if you’re looking for something more from your credit card, you may need to look elsewhere. Aside from that, the main negative point is the card’s cash advance rate, which is high, but also avoidable.

Why should you choose this card?

Obviously, if you’re looking for a low cost card, the ANZ Low Rate Visa could very well be the card for you. You will not only save on interest, but you can also save on annual fees as well. This can make it a great choice for those who carry a balance, as we said, and also for anyone who likes to keep it simple, with fewer features, no rewards, and a nice low annual fee.

However, one thing that is worth pointing out is the ANZ Low Rate Visa’s balance transfer offer. New cardholders who want to pay down existing credit card debt could transfer their balance onto the ANZ Low Rate Visa to enjoy a balance transfer rate of 1.99% p.a. for 12 months. Now, this is exactly the type of card that can work well for balance transfers. Why?

The point of doing a balance transfer is to save money on interest as you pay down your balance. Fancy features and spending to earn rewards are likely to distract you from this. By choosing a card such as the ANZ Low Rate Visa, you could save on interest on your transferred balance, and on your annual fee, allowing you to pay off as much of that debt as possible.

If you fail to pay off your transferred balance within the introductory period, it will revert to the card’s low interest rate – unlike other cards, which revert to a higher purchase rate, or an even higher cash advance rate.

Of course, being a big bank, ANZ also provides all the other standard features we’ve come to expect from having a credit card. This includes security features such as Visa Zero Liability and fraud monitoring, as well as access to your account via phone banking, ANZ Internet Banking, ANZ goMoney, at ATMs, or at any ANZ branch.

Overall Rating

A basic option for cardholders who want to save on interest and annual fees, the ANZ Low Rate Visa is currently offering a $0 annual fee for the first year and 1.99% p.a. on balance transfers for 12 months.

User reviews

ANZ Low Rate Visa Credit Card ( based on 2 Creditcard.co.nz user reviews )

72% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 13.90% p.a.

Cash advance rate 20.95% p.a.

Interest free on purchases up to 55 days

Balance transfer

Balance transfer rate 1.99% p.a. for 12 months

Balance transfer revert rate 13.90% p.a.

Balance transfer from personal loan N/A

Balance transfer fee No fee.

Balance transfer limit N/A

Banks you can't balance transfer from ANZ

Credit limits

Minimum credit limt $N/A

Maximum credit limit N/A

Fees & repayments

Annual fee $35 p.a.

Additional card holder fee $10 p.a.

Foreign transaction fee 2.5%

Minimum repayment

Annual fee the first year $0

Cash advance fee $0

Late payment fee $12

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

Extras

Eligible with Apple Pay & Google Pay

Overview

ANZ Low Rate Visa Credit Card

Key features

  • 1.99% p.a. for 12 months on the transferred balance
  • 13.90% p.a. interest rate on purchases
  • $0 annual fee for the first year. $35 p.a. annual fee charged $17.50 half-yearly
  • Up to 55 days interest free on purchases

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.com.au 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.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

(showing the latest 10 Q&As)

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