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American Express Low Rate Credit Card
American Express Low Rate Credit Card

American Express Low Rate Credit Card

Updated 31 July 2019

Purchase Rate (p.a)

8.99%

Balance Transfer (p.a)

0% for 12 months 1% BT fee applies. reverts to 8.99% p.a.

Annual Fee (p.a)

$0

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • $0 annual fee
  • 0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies. Please note, no interest free days apply to retail purchases while you have a balance transfer
  • Enjoy a low interest rate of 8.99% p.a. on purchases

  • The maximum balance transfer that you can be approved for is $10,000 or 70% of your approved credit limit, whichever is less.

Creditcard.com.au review

Editor Review

American Express Low Rate Credit Card

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

The American Express Low Rate Credit Card

With a low rate of interest and no annual fee, the American Express Low Rate Credit Card is designed to help cardholders save money, while still enjoying access to credit. Cardholders can benefit from up to 55 days interest free on purchases, 0% p.a. on balance transfers for 12 months, and retail protection in the form of purchase protection, refund protection and fraud guarantee.

What we love...

Designated a low rate card, the American Express Low Rate Credit Card offers an ongoing low rate on purchases, helping cardholders who may carry a balance to save on interest. An extremely competitive option, rates this low are typically only seen on credit cards offered by smaller banks and member-owned financial providers, such as credit unions.

Obviously, the best way to save money on interest is to clear your balance each month by the due date. But, if that’s not possible, a low rate card may be a better option than a rewards card or feature-packed card that charges a much higher rate of interest. Plus, if you do clear your balance month-to-month on this card, you can enjoy up to 55 days interest free on purchases.

When it comes to credit cards, you often find low rate options charge higher annual fees. Why? Even if features are lacking, low rate cards generally charge more in annual fees, as the provider is likely to get less back in interest. Not so, the American Express Low Rate Credit Card. With this low rate card, you pay no annual fee for the life of the card.

Another handy feature on this card is its balance transfer offer. If you have an existing credit card balance, you could transfer it to the American Express Low Rate Credit Card to benefit from 0% p.a. on balance transfers for the first 12 months, with a one-off credit plan establishment fee of 1%. Any balance left unpaid after the intro period ends reverts to the card’s purchase rate.

What’s not so great...

The American Express Low Rate Credit Card is a basic low rate card with no annual fee. While it offers a few nice extras, it generally keeps things simple. This works well for those who want simple, but for those who don’t – for those who want to earn rewards and bask in fancy features – this may not be the card for them.

Why should you choose this card?

If you want to save on interest while paying zip in annual fees, the American Express Low Rate Credit Card may just be the card for you. Designed to be a money-saver, it could help you save on interest should you happen to carry a balance, while you take advantage of the various features the card has to offer.

While these features might not blow your socks off, remember, you are not paying an annual fee, and the card’s purchase rate is super low. So, what are those features exactly? First up, you can add up to four additional cardholders at no extra cost, and you can benefit from Amex service with emergency card replacement worldwide, backed by 24/7 Global Card Support.

The American Express Low Rate Credit Card is compatible with Apple Pay, Samsung Pay and Google Pay, and also offers a range of cover on purchases. With purchase protection, your purchases are protected for up to 90 days if they break or are stolen. You can also enjoy refund protection and an online fraud protection guarantee.

To be eligible for the American Express Low Rate Credit Card, you must be an Australian citizen, a permanent resident, or a current Business Long Stay Visa holder, and you must be aged 18 or over. You must have no history of bad debt or payment default, and you must have an annual income of $50,000 or more.

Overall Rating

Offering cardholders the opportunity to save on interest and annual fees, the American Express Low Rate Credit Card has a super low purchase rate, no annual fee, retail cover and 0% p.a. on balance transfers for 12 months.

User reviews

American Express Low Rate Credit Card ( based on 2 Creditcard.com.au user reviews )

86% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 8.99% p.a.

Cash advance rate N/A

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 12 months

Balance transfer revert rate 8.99% p.a.

Balance transfer from personal loan N/A

Balance transfer fee 1% one off

Balance transfer limit 70% of approved credit limit

Banks you can't balance transfer from American Express

Credit limits

Minimum credit limt $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $0 p.a.

Additional card holder fee Up to 4 at no extra cost

Foreign transaction fee 3%

Minimum repayment 2.5% or $30. Full closing balance for the Amex Platinum Charge Card

Cash advance fee N/A

Late payment fee $30

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Eligible with Apple Pay, Samsung Pay and Google Pay

24/7 global card support

Emergency card replacement

Overview

American Express Low Rate Credit Card

The American Express Low Rate Credit Card is low cost card that comes with $0 annual fee and a purchase rate of 8.99% p.a. Get up to 55 days interest free on purchases when you don’t carry a balance on your credit card. Have family members you would like to add to this card? Get up to 4 additional cards at no extra cost and keep track of account activity with breakdown of transactions on your statement. Extra benefits include 24/7 global card support, emergency card replacement and purchase & refund protection. The American Express Low Rate Credit Card is eligible for use with Apple Pay, Samsung Pay and Google Pay.

Key features

  • No annual fee
  • 0% p.a. on balance transfers for the first 12 months. A one-off fee of 1% applies to any balances transferred. Please note, no interest free days apply to retail purchases while you have a balance transfer.
  • Low interest rate of 8.99% p.a. on purchases
  • Up to 4 additional cards at no extra cost
  • 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

  • Australian citizen or permanent resident or hold a current Business Long Stay Visa (subclass 457)

  • Minimum income of $50000 p.a.

  • 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.

3 questions (showing the latest 10 Q&As)

Marie

Marie

21 September 2019
what is the maximum limit
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 September 2019
    Hi Marie, AMEX do not provide guidance on the maximum credit limit available with the Low Rate card. I would say the limit could go quite high. Though this could be increased with good usage and requests for a credit limit increase. As a low rate card. You would imagine that the starting credit limit would not be huge. How much are you looking for?
Chris lorenzo

Chris lorenzo

23 April 2019
Is the salary requirement, before or after tax?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 April 2019
    Hi Chris, this is before tax.
michael

michael

24 November 2018
Who underwrites this card? Citibank, major bank,? Thankyou
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    26 November 2018
    Hi Michael, this is an American Express direct card. Cards are offered, issued and administered by American Express Australia Limited

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