Ask Pauline a Question

Hi, I’m a personal finance expert who loves to help you out! I’ll answer your question within a business day. Pinky swear.

We ask for your email so we can respond to you directly. We won’t share your personal data. For more information, see our privacy policy.

N/A
American Express Low Rate Credit Card
American Express Low Rate Credit Card

American Express Credit Cards

American Express Low Rate Credit Card

Updated 16 February 2024

Designed to help cardholders save money, American Express Low Rate Credit Card offers an ongoing $0 annual fee and a low interest rate of 10.99% on purchases. Enjoy an interest-free period of up to 55 days and shop with retail protection in the form of Card Purchase Cover, Card Refund Cover, and Fraud Protection Guarantee. Add up to 4 additional cards at no extra cost.
T&Cs apply.

Points Earn Rate (per $1 spent)

Rewards Program

Bonus Points

N/A

Pros and cons

  • $0 annual fee
  • Low interest rate of 10.99% p.a. on purchases
  • Up to 55 days interest free on purchases
  • Up to 4 additional cards at no extra cost
  • Plan It™ Instalments - pay off your credit card balance in equal monthly instalments, with 0% p.a. interest and a fixed monthly fee

  • No balance transfer offer

Creditcard.com.au review

Editor Review

American Express Low Rate Credit Card

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.

With a low rate of interest and $0 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 Card Purchase Cover, Card Refund Cover, and Fraud Protection 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. It’s not the case with the American Express Low Rate Credit Card though. Plus, you pay $0 annual fee with this low rate card.

What’s not so great...

The American Express Low Rate Credit Card is a basic low rate card with a $0 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.

Why should you choose this card?

If you want to save on interest and are looking for a card that will reward you for your spending while paying $0 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.

One money-saving feature that's also worth mentioning is the Plan It™ Instalments. It provides new cardholders with a flexible way to pay off their credit card balance in equal monthly instalments, with 0% p.a. interest. As long as your account is in good standing, you can set up the Instalment Plan. It is important to note, however, that this comes with a fixed monthly plan fee and the amount that can be transferred to an Instalment Plan may be limited. Make sure that you thoroughly review the terms and conditions to see if this is something that could work out for you.

While these features might not blow your socks off, remember, this card has a $0 annual fee, and the 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 Card Purchase Cover, your purchases are protected for up to 90 days if they break or are stolen. You can also enjoy Card Refund Cover 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, and you must have no history of bad debt or payment default.

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, $0 annual fee and retail cover.

User reviews

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

96% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 10.99% p.a.

Cash advance rate N/A

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $1,000

Maximum credit limit N/A

Fees & repayments

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 (personal & business); N/A (charge cards)

Cash advance fee N/A

Late payment fee $30

Rewards and points

Rewards program

Rewards Program N/A

Bonus points N/A

Annual points cap uncapped

Bonus points spend criteria N/A

Earning points with this card

Points cap per month N/A

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 10.99% 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 Card Purchase and Card Refund Covers. The American Express Low Rate Credit Card is eligible for use with Apple Pay, Samsung Pay and Google Pay.

Key features

  • $0 annual fee
  • Low interest rate of 10.99% p.a. on purchases
  • Up to 55 days interest free on purchases.
  • Up to 4 additional cards at no extra cost.
  • Card Purchase and Card Refund Cover
  • Plan It™ Instalments - pay off your credit card balance in equal monthly instalments, with 0% p.a. interest and a fixed monthly fee

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 long term visa (at least 12 months; does not include student visas)

  • 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.

14 questions (showing the latest 10 Q&As)

Chris Mack

Chris Mack

27 January 2024
Pauline, I want a no fee card. I’m not your best customer as I’m retired, have home about 2m superfund assets about 2m+ so income is as much as I like via super fund. Min legislated take each year about 140k. Have two credit cards, commbank, 40k ANZ 10K. But would cancel ANZ if necessary. Wanted something other than Mastercard.the process takes so long, so question is, am I wasting my and your time?
    Pauline - CreditCard.com.au

    Pauline

    31 January 2024
    Hi Chris! It's possible you might hit a snag simply because you're a retiree, and depending on how banks see your income (I talk about that in this blog). I would also ask what you want a credit card for - is it for a rainy day, or do you want to earn points? A no-annual-fee card like the Virgin Money No Annual Fee is a Visa and has no extra features, or you could look at one like the Coles No Annual Fee that earns Flybuy points (but it's Mastercard). You can compare on this page and check the eligibility requirements on our review. All the best!
DAVD MOTHERSHAW

DAVD MOTHERSHAW

4 October 2023
CAN I HAVE MY CREDIT CARD AMOUNT AUTOMATICALLY PAID FROM MY BANK ACOUNT
Justin Barry Frederick Pengilly

Justin Barry Frederick Pengilly

24 May 2023
HI, Is the card able to earn Qanats points with purchases?
    Pauline - CreditCard.com.au

    Pauline

    25 May 2023
    Hi Justin, good question! The American Express Low Rate credit card unfortunately does not have a rewards program attached to it. However there are other Amex credit cards that let you earn Qantas Points that you can check. Alternatively, you can view a range of Qantas Frequent Flyer credit cards for more options.
li

li

24 April 2023
hi, how does this work for retirees who do not have an income? thanks, li
    Pauline - CreditCard.com.au

    Pauline

    26 April 2023
    Hi Li, that's a great question. Credit card companies actually have their own set of rules, and some may be hesitant to lend to retirees who don't have a traditional income. However, the most important thing is that you can demonstrate you can pay back what you borrow, regardless of how you earn your money. This includes showing that you can manage your credit card expenses responsibly, such as paying interest on time. It's worth noting that when applying for a credit card, you typically need to provide your employer's name and contact information. While anti-discrimination laws protect older people, retirees may still face some challenges when managing their finances. We've actually written an article about credit card options for pensioners, which covers some of the eligibility requirements in more detail. Feel free to give it a read and try reaching out to credit card providers before you make an application to see if you will be serviceable. Best of luck Li.
Thaengkham Mounnarath

Thaengkham Mounnarath

15 April 2023
When applied the low rate than i have to wait for how long they have to approve for me to know thank you
    Pauline - CreditCard.com.au

    Pauline

    17 April 2023
    Hi Thaengkham, indicated on American Express’ site is that if you’ve provided all the information, you can get a response within 1 minute. Usually, it takes a few days especially if AMEX requests further information from you, and will take about 7-10 business days to receive the physical card if approved.
SKB

SKB

21 March 2023
If I use this card to pay my rentals, will it consider as Balance Transfer or bill payments? Thanks
    Pauline - CreditCard.com.au

    Pauline

    22 March 2023
    Hi SKB, I looked into this for you but I couldn't find any specific details on whether paying your rent with your credit card is considered a purchase, a balance transfer or a bill payment. However, we do have an article that explains how you can pay your rent using your credit card, which may be helpful to you. It all essentially comes down to your managing agent.
Jeya Vignesh

Jeya Vignesh

18 January 2023
I would like to buy a credit card
    Pauline - CreditCard.com.au

    Pauline

    19 January 2023
    Hi Jeya, if you’d like to apply for this card, you can click the green “go to offer” button on this page to be taken to the official Amex site. There you’ll find all the information needed. Hope that helps!
Yuga

Yuga

15 December 2022
Can a temporary resident (485 visa) apply for this card?
    Pauline - CreditCard.com.au

    Pauline

    16 December 2022
    Hi Yuga, looking at the American Express Low Rate card’s terms, I see that a 485 visa may be eligible. This is provided that you’ve met the other eligibility criteria and that your visa has at least 12 months of validity remaining.
Allwyn

Allwyn

18 March 2022
What is the maximum credit card limit for this card?
    Pauline - CreditCard.com.au

    Pauline

    18 March 2022
    Hi Allwyn, I checked the American Express Low Rate credit card’s terms and the maximum credit limit is not specified. The minimum credit limit you may be approved for though is $1,000. The maximum credit limit set by the bank will depend on many factors such as annual income, debts and the health of your credit file, to name a few.
Luis guibin

Luis guibin

13 October 2021
How do I apply. For a blue low rate card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    14 October 2021
    Hi Luis, the Amex Blue Low Rate isn’t available in Australia. However, they have the American Express Low Rate Credit Card that is visually similar to the American equivalent.
Kathryn

Kathryn

6 May 2020
is the rewards program linked to the no fee credit card? is there a fee for the rewards program? where do i find info on what rewards you offer?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    7 May 2020
    Hi Kathryn, there is no rewards program linked with this low rate card from AMEX. The focus of this product is its low interest rate on purchases plus no annual fee.
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

Featured Credit Cards

13 reviews
points earned over 12 months
Help us improve

By submitting this feedback you agree to our privacy policy.

My credit card is not listed

By submitting this form you agree to our privacy policy.