- No annual fee
- Low interest rate of 8.99% p.a. on purchases
- Up to 55 days interest free on purchases
- Up to 4 additional cards at no extra cost
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 and retail protection in the form of purchase protection, refund protection and fraud guarantee.
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. It’s not the case with American Express Low Rate Credit Card though. With this low rate card, you pay no annual fee for the life of the card.
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 points and bask in fancy features – this may not be the card for them.
If you want to save on interest and are looking for a card that will reward you for your spending 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 hold a long term visa. Long term means at least 12 months and does not include student visas. 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.
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 and retail cover.
Purchase rate 8.99% p.a.
Cash advance rate N/A
Interest free period on purchases up to 55 days
Minimum credit limit $1,000
Maximum credit limit N/A
Annual fee $0 p.a.
Additional cardholder fee Up to 4 at no extra cost
Foreign transaction fee 3%
Minimum repayment $30 or 2.5% (whichever is greater)
Cash advance fee N/A
Late payment fee $30
Rewards Program N/A
Bonus points N/A
Annual points cap uncapped
Bonus points spend criteria N/A
Points cap per month N/A
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
Eligible with Apple Pay, Samsung Pay and Google Pay
24/7 global card support
Emergency card replacement
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 and up to 4 additional cards at no extra cost. 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.
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Australian citizen or permanent resident or hold a long term visa (at least 12 months; does not include student visas)
Minimum income of $50,000 p.a.
You have your personal details ready to complete the online application
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.
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