Low Interest Credit Cards Credit Cards

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Low Interest Credit Cards

When it comes to finding the right low interest credit card Australians need, the trick is to go through all the offers until they find one that best suits their needs. A low interest credit card however does exist and is being offered to Australians who want to save money on the balance that they have built up on their card.

But what exactly is a low interest credit card and just what are the benefits and pitfalls to having it as part of your finances?

What are Low Interest Credit Cards?

Essentially, a low interest credit card is exactly what it says it is, a credit card that charges a lower amount of interest than a standard credit card. The exact interest rate charged will vary depending on the company that issued the card, but for the most part they offer a very low rate as compared to standard issue credit cards.

For many, having a very low interest rate will offer certain advantages that may be quite attractive. However, these advantages may also be paired with certain issues that could be difficult to work into your overall budget.

Advantages and Disadvantage of Low Interest Credit Cards

Low Interest Rate: The most obvious advantage is also what the card itself is named after. A lower interest rate means that you pay less each month on the balance that is carried over. Depending on how long the low interest rate lasts, you may save hundreds of dollars or more.

Transfer: A low interest rate card is an excellent resource to transfer the balance from your higher interest rate cards so that you can save money. You will not only pay a lower interest rate, you will also get rid of excess credit cards in the process.

However, while the advantages of paying a lower interest rate really stand out, there are some considerations you will need to make as well. This is especially true if you are trying to transfer balances over from other cards.

Time Limit: In many cases, the lower interest rate will not last for very long. This is especially true if it is part of an introductory rate that lures you into owning the card. This means that if you were planning on transferring the balance or paying for particular items, you will only have a certain period of time before the lower interest rate goes away.

Fewer Rewards: Generally speaking, lower interest credit cards Australians use have little to no other rewards or other incentives that come with the card itself. This may not be all that bad considering that you are saving money each and every time you use the card, but if you were interested in particular rewards such as frequent flyer miles you will be missing out.

Overall, having a lower interest credit card can save you a considerable amount of money although they often have stricter rules about balances that carry over. So, while you will need to be more careful, the potential savings makes this the type of card that you want to carry in your wallet.

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ANZ Banking Group Limited

10/833 Collins St
ANZ Centre
Melbourne, Victoria 3000

Australia and New Zealand Banking Group Limited, also known as ANZ is among the largest international banks in terms of market capitalization in

Auswide Bank Ltd

16–20 Barolin St
Bundaberg, Queensland 4670

Auswide Bank Ltd, formerly known as Wide Bay Australia has been in the banking and finance sector for over 50 years and primarily deals in home loans

Bank of Queensland Limited

259 Queen St
Brisbane, Queensland 4000

Bank of Queensland Limited is one of the oldest financial institutions of Australia and has its headquarters in Brisbane, Queensland.

Bendigo and Adelaide Bank Limited

The Bendigo Centre
Bendigo, Victoria 3550

Bendigo and Adelaide Bank Limited came into existence in 2007, when the merger between the Bendigo Bank and Adelaide Bank took place.

Commonwealth Bank of Australia

201 Sussex Street.
Tower 1
Sydney, New South Wales 2000

Commonwealth Bank of Australia is one of the largest banks in Australia, forming one of the top four banks of the country - CBA

Beyond Bank Australia

44 Waymouth Street
Adelaide, South Australia 5000

A completely customers owned bank, Beyond Bank Australia, is one of the fastest growing banks and also one of the biggest customer funded and owned

Defence Bank Limited

Level 5, 31 Queen St
Melbourne, Victoria 3000

Defence Bank Limited started operations in 1975 as Defence Force Credit Union Limited and continued under that banned until 2012, when its name was

Heritage Bank

400 Ruthven St
TOOWOOMBA, Queensland 4350

Heritage Bank is the biggest customer owned or mutual bank in Australia, and has over $8.5 Billion in assets.

Hume Bank

492 Olive Street
Albury, New South Wales 2640

Primarily catering to the customers in Southern New South Wales and North Eastern Victoria, Hume Bank Limited has a strong hold in providing excellent


222 High Street
Kew, Victoria 3101

BankMecu banking products include home loans, car loans, personal loans, business loans, mortgage loans, credit cards, insurance products,

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