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ANZ Low Rate Credit Card – Cashback Offer
ANZ Low Rate Credit Card – Cashback Offer

ANZ Credit Cards

ANZ Low Rate Credit Card – Cashback Offer

Updated 15 March 2024

The ANZ Low Rate credit card is a low interest-rate card with a good introductory offer: $250 credited to your card when you spend $1500 within the first 3 months from approval plus $58 p.a annual fee. This card helps keep costs down and even puts money back in your pocket with its bonus offer.

*T&Cs, eligibility and spend criteria, fees and charges apply (including an annual fee, currently $58 ).

Purchase Rate (p.a)

13.74%

Balance Transfer (p.a)

21.99%

Annual Fee (p.a)

$58

$0 over 99 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Get $250 credit back to your new card when you spend $1,500 in the first 3 months from approval. T&Cs apply.
  • OR Choose the ANZ Low Rate - Balance Transfer offer to get 28 months interest-free on your balance transfer (3% balance transfer fee applies). T&Cs apply.
  • Low annual fee of $58.
  • Low purchase rate of 13.74% p.a.
  • Up to 3 free additional cardholders on the account
  • Worldwide emergency credit card replacement
  • Tap and go with Visa payWave
  • Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.

  • No rewards or points benefits
  • No complimentary insurances

Creditcard.com.au review

Editor Review

ANZ Low Rate Credit Card – Cashback Offer

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

The ANZ Low Rate Credit Card - Cashback Offer

If you’re looking for a simple, affordable credit card, the ANZ Low Rate credit card delivers well. It charges a low interest rate plus a nice straight-into-the-pocket cashback offer that can help pay the bills or something a little more fun.

The ANZ Low Rate card has two introductory offers to choose from: here, we're reviewing the card and its Cashback Offer. If you're interested in getting 28 months interest-free on a balance transfer instead, you can see our review of the ANZ Low Rate credit card - Balance Transfer Offer (same card, different introductory bonus). With the balance transfer offer, you'll get 0% balance transfer for 28 months (T&Cs apply).

Important points to keep in mind: fees, cash advances, cash equivalent transactions, balance transfers, transactions for gambling or gaming purposes, and reversed or refunded transactions are not considered eligible purchases. Your account must also be in good standing and with no repayments overdue to qualify for the cashback offer.

The ANZ Low Rate card doesn't have many bells and whistles, but delivers exactly what it needs to for a low-cost, low-rate credit card.

What we love...

The standout for this card is its affordability. Credit cards with platinum packages and high-earning rewards programs usually come with higher annual fees and eye-watering interest rates, which doesn't suit everyone - especially if your goal is to have the card as a rainy day fund, a first-time card or just an easy way to build your credit score.

The ANZ Low Rate Credit Card doesn’t provide any show-stopping features, but it does have one ace up its sleeve. As a cardholder, you'll get a very low purchase rate and a low annual fee, while still having access to credit and a decent set of basic features.

Right now, the ANZ Low Rate card comes with two introductory offers - a $250 cashback offer, and a 0% balance transfer offer for 28 months. To see the balance transfer offer, check out our review here.

Earning your $250 cashback is straightforward: once your card is activated and you've spent $1500 on your eligible transactions card in the first 3 months, you'll have $250 credited back to your card account.

What’s not so great...

Being a fairly no-frills card, the ANZ Low Rate card doesn't have many complicated offers and features with a ton of scary fine print. Just make sure you know what constitutes 'eligible purchases' to meet the cashback criteria (ie, just general day-to-day shopping is usually eligible, but not government payments or fees).

⚠ My big warning would be balance transfers. If you transfer a balance you'll be charged 21.99% from day one, plus a 3% balance transfer fee. If you're looking for ways to pay off your debt, you might be better off looking at the ANZ Low Rate - Balance Transfer Offer, which is the same card with a different introductory offer of 28 months interest-free on balance transfers.

This is a simple card, which you might see as a downside if you're looking for a credit card packed with extras. But, if your goal is to have a simple, affordable card (and you'd like to make a little extra, too) the ANZ Low Rate Credit Card with the Cashback Offer does tick plenty of boxes.

Why should you choose this card?

Aside from its low purchase rate and annual fee, this card offers some extras that you’ll appreciate.

ANZ has teamed up with Cashrewards, which allows you to earn rewards at over 2,000 participating retailers. It's a way of earning freebies without owning a rewards credit card, which is a nice little side perk.

This card also provides worldwide emergency card replacement, up to 55 days interest-free on purchases, and up to three free additional cardholders. To apply, you'll need to be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your Visa.

In terms of security, ANZ offers its cardholders ANZ Fraud Money Back Guarantee and 24/7 Falcon fraud monitoring, which monitors your transactions for suspicious activity.

Overall Rating

The ANZ Low Rate Credit Card - Cashback Offer is a simple, low-interest card with two introductory offers - the $250 credit back to your new card I've outlined here, OR the 0% p.a. balance transfer rate for a 28-month promotional period (which you can see here). You'll pay $58 annual fee. It's a very decent card if you're looking for an emergency fund in your pocket, if you're new to credit cards or just want to use a credit card without paying a big annual fee. The cashback is a nice bonus, too.

User reviews

ANZ Low Rate Credit Card – Cashback Offer ( based on 1 Creditcard.com.au user review )

90% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 13.74% p.a.

Cash advance rate 21.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 21.99% p.a. for 99 months

Balance transfer revert rate 21.99% p.a.

Balance transfer from personal loan No

Balance transfer fee 3% one off

Balance transfer limit 95% of approved credit limit

Brands you can't balance transfer from ANZ

Credit limits

Minimum credit limit $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $58 p.a.

Additional cardholder fee Up to 3 at no extra cost

Foreign transaction fee 3%

Minimum repayment 2% or $25, whichever is greater

Cash advance fee Consumer: 3% (in Australia); 3% of the amount or $4, whichever is greater (for overseas); Commercial: 1.50% or $1.50 whichever is greater

Late payment fee $20

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.

Overview

ANZ Low Rate Credit Card – Cashback Offer

A good option if you’re looking for a simple, everyday credit card with low ongoing costs and a low interest rate, the ANZ Low Rate card also comes with a bonus $250 back to your new ANZ Low Rate credit card when you spend $1,500 in the first 3 months from approval. You’ll get up to 55 days interest-free on purchases and up to 3 free additional cardholders.

Key features

  • Get $250 credit back to your new card when you spend $1,500 in the first 3 months from approval. T&Cs apply.
  • OR Choose the ANZ Low Rate - Balance Transfer offer to get 28 months interest-free on your balance transfer (3% balance transfer fee applies). T&Cs apply.
  • Pay $58 annual fee.
  • Low purchase rate of 13.74% p.a.
  • Up to 55 days interest-free period on purchases
  • Up to 3 free additional cardholders on the account.
  • Falcon transaction monitoring
  • Fraud Money Back Guarantee
  • Visa payWave for quick transactions under $100
  • Worldwide card replacement in emergencies
  • Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.

Minimum criteria to apply for this card

  • Be over 18 years old

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

  • Permanent Australian resident or non-permanent resident with more than 9 months remaining on your Visa

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

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

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

5 questions (showing the latest 10 Q&As)

Sandy Christpoulos

Sandy Christpoulos

24 April 2023
can i use this card when i travel both interstate and in Europe
    Pauline - CreditCard.com.au

    Pauline

    26 April 2023
    Hi Sandy, yes you can use the ANZ Low Rate Cashback card anywhere where Visa is accepted. However, it's important to keep in mind that you will cop a 3% foreign transaction fee for any purchases made overseas or within Australia with merchants based overseas.
Riddhi

Riddhi

22 February 2023
I'd like to know which of the credit Cards, specially Qantas rewards or others can I apply for with a 408 visa with an expiry in Nov'23.
    Pauline - CreditCard.com.au

    Pauline

    23 February 2023
    Hi Riddhi, unfortunately, credit card providers that offer Qantas rewards credit cards such as Qantas Money and Citi only accept permanent residents as of this time. ANZ considers applicants who are non-permanent residents but they should have more than 9 months remaining on their visa. However, eligibility requirements may also be assessed on a case by case basis so it’s best to speak directly with the credit card providers to discuss your situation and chances of approval.
Margie

Margie

1 February 2023
1.What is the credit card limit? 2.Where can I read about the participating retailers for the $1500 payments in order to gain the cash back offer?
    Pauline - CreditCard.com.au

    Pauline

    2 February 2023
    Hi Margie, the maximum credit limit for ANZ Low Rate Credit Card is given to you when you are applying and is subject to ANZ’s approval. Typically, your approved credit limit depends on the health of your credit file plus your income, employment as well as any existing debts and liabilities. As for the $1500 spend requirement, eligible purchases include regular purchases from shops, groceries, and payment for billing services (Optus Billing, Origin Energy, etc but please check with ANZ as this offer changes). Excluded purchases include fees, cash advances, and transactions for gambling or gaming purposes. You can refer to their T&C or contact them directly for more information.
Kamala

Kamala

28 December 2022
How to apply low rate credit card
    Pauline - CreditCard.com.au

    Pauline

    3 January 2023
    Hi Kamala, if you’re referring to the ANZ Low Rate Cashback card and are confident that you’ve met all the eligibility criteria, you can click the green Go To Offer button at the top of this page to proceed to your application.
Maks

Maks

9 December 2022
I’m a holder of a 786 visa till 2025, applying for 190 visa soon. Am I eligible for the credit card?
    Pauline - CreditCard.com.au

    Pauline

    12 December 2022
    Hi Maks, I checked ANZ Low Rate Cashback card’s terms and it states you must have more than 9 months left on your visa. It also states that you must be an Australian citizen and be at least 18 years of age in order to be eligible. If you’re confident you’ve met all the requirements, you can click the green Go To Offer button at the top of this page to proceed with your application.
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