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IMB Low Rate Credit Card

2 reviews

Purchase rate

12.99% p.a.

Balance transfer

0% 12 months
0% Complete (success)
reverts to 21.74% p.a. No BT fee

Annual fee

$49 p.a.
49% Complete (success)

Pros

0% p.a. on balance transfers for 12 months (reverts to cash rate)

Purchase cover insurance and guaranteed pricing scheme

Credit limits of up to $15,000 are available subject to eligibility

Cons

After introductory balance transfer period it reverts to a high cash advance rate of 21.74% p.a.

The minimum credit limit starts at $2,000

IMB Low Rate Credit Card

The IMB Low Rate Mastercard offers a competitive annual fee and a 0% p.a. on balance transfers for 12 months. Reverts to cash advance rate. This card offers you the basic features with few frills, but there is still guaranteed pricing and purchase cover insurance, so you can buy on this card knowing your purchases are protected. When you do purchase something on this card, you will get 55 days to pay it off interest free, provided you don’t have a balance from the previous month on your card.

Key features

  • 0% p.a. on balance transfers for the first 12 months (reverts to cash rate)
  • $49 annual fee
  • Purchase rate of 12.99% p.a.
  • Up to 55 days interest free on purchases
100% of customers who have rated this card would recommend it
  • Rates
    76%
  • Fees
    63%
  • Rewards
    N/A
  • Customer Service
    80%
  • Value
    73%
Overall user rating 73%
2 reviews
Interest Rates
Purchase rate 12.99% p.a.
Cash advance rate 21.74% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Balance transfer rate 0% p.a. for 12 months
Balance transfer fee No fee
Balance transfer revert rate 21.74% p.a.
Balance transfer limit 80% of your approved new credit limit
Balance transfer from personal loan No
Banks you can't balance transfer from Bank of Queensland ,Citi ,Coles ,IMB ,Qantas Money ,Suncorp ,Virgin Money
Credit limits
Minimum credit limit $2,000
Maximum credit limit $15,000
Fees & repayments
Annual fee $49 p.a.
Additional cardholder fee Up to 4 at no extra cost
Cash advance fee 3.5%
Foreign transaction fee 3.4%
Minimum repayment 3%
Late payment fee $10
Credit card type Mastercard
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance Yes
Extended warranty insurance No
Rental vehicle excess cover No

The IMB Low Rate Mastercard

With 0% p.a. on balance transfers for 12 months, the IMB Low Rate Mastercard could be a real money-saver for cardholders who want to pay off existing credit card debt. Ongoing, the card has a low purchase rate and a discounted annual fee for the life of the card, on top of complimentary purchase insurance covers and up to 55 days interest free on purchases.

What we love...

As introductory offers are typically what attract new cardholders, let’s discuss the IMB Low Rate Mastercard’s intro offer first. An awesome option for cardholders looking to pay down credit card debt, this card is currently offering 0% p.a. on balance transfers for 12 months. This will give you a full year to clear your transferred balance while paying zero interest on it.

Helping you to save even more, the card is also offering a discounted annual fee, which will be applied for the life of the card. This not only works well if you’re trying to save money to pay down your transferred balance, it could also be a great option for cardholders who simply want a low cost card in the long term.

Offering further opportunities to save, the IMB Low Rate Mastercard has a low ongoing purchase rate. A low rate card can be the ideal option for cardholders who carry a balance, as it allows them to pay less in interest month to month, to potentially pay down their balance and clear it faster. And by clearing that balance, a new feature opens up.

When you pay off your balance each month by the due date on this card, you can benefit from up to 55 days interest free on purchases. So, by keeping interest costs at zero, all you will be paying to keep this card in your wallet is its low annual fee. Note, this interest free feature is not offered on accounts with balance transfers.

Like most low rate, low fee cards, the IMB Low Rate Mastercard keeps features pretty basic. But, that’s not to say there are no extras to enjoy. As a cardholder, you can take advantage of complimentary purchase cover insurance and the card’s guaranteed pricing scheme, providing an extra layer of protection to your purchases. Terms and conditions apply, so read the PDS.

What’s not so great...

Back to that intro offer. Before you sign up for any offer, it’s important to read the small print first. Know that with the IMB Low Rate Mastercard’s offer, you can only transfer up to 80% of your approved credit limit, and if you don’t manage to pay off your transferred balance within the intro period, it will revert to the card’s much higher cash advance rate.

Why should you choose this card?

A low cost card can work well for all types of cardholders. If you are not interested in fancy features or complex rewards programs, low cost cards such as the IMB Low Rate Mastercard can help to keep things simple. It’s also nice to know that you are not paying extra for features you are not using.

Of course, this type of card can be a worthy option for cardholders looking to save money, either on interest or on annual fees. Whether you use the card every day, or you only keep it for emergencies, this card can keep costs down to offer you access to credit when you need it.

Overall Rating

The IMB Low Rate Mastercard offers a low ongoing purchase rate and a discounted annual fee for the life of the card, providing further money-saving opportunity with 0% p.a. on balance transfers for 12 months.

2 questions (showing the latest 10 Q&As)

Keiran palmer

Keiran palmer

28 October 2015
I would like to know as to how to apply for your low rate credit card.
Darren

Darren

31 January 2013
Am I able to set my own credit limit for a first-time credit card user?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 February 2013
    Hi Darren, yes you are able to request your own credit limit on the application form (with other cards too). If you know how much you need and how much you can afford to repay you can do this. If you leave the question blank, the bank will assign you a credit limit based on its own lending criteria and what it thinks you are able to afford.
  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Resident or citizen of Australia
  • You have your personal details ready to complete the online application
IMB Low Rate Credit Card
IMB Low Rate Credit Card

IMB Low Rate Credit Card

Updated 18 June 2019

Purchase Rate (p.a)

12.99%

Balance Transfer (p.a)

0% for 12 months No BT fee. reverts to 21.74% p.a.

Annual Fee (p.a)

$49

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for 12 months (reverts to cash rate)
  • Purchase cover insurance and guaranteed pricing scheme
  • Credit limits of up to $15,000 are available subject to eligibility

  • After introductory balance transfer period it reverts to a high cash advance rate of 21.74% p.a.
  • The minimum credit limit starts at $2,000

Creditcard.com.au review

Editor Review

The IMB Low Rate Mastercard

With 0% p.a. on balance transfers for 12 months, the IMB Low Rate Mastercard could be a real money-saver for cardholders who want to pay off existing credit card debt. Ongoing, the card has a low purchase rate and a discounted annual fee for the life of the card, on top of complimentary purchase insurance covers and up to 55 days interest free on purchases.

What we love...

As introductory offers are typically what attract new cardholders, let’s discuss the IMB Low Rate Mastercard’s intro offer first. An awesome option for cardholders looking to pay down credit card debt, this card is currently offering 0% p.a. on balance transfers for 12 months. This will give you a full year to clear your transferred balance while paying zero interest on it.

Helping you to save even more, the card is also offering a discounted annual fee, which will be applied for the life of the card. This not only works well if you’re trying to save money to pay down your transferred balance, it could also be a great option for cardholders who simply want a low cost card in the long term.

Offering further opportunities to save, the IMB Low Rate Mastercard has a low ongoing purchase rate. A low rate card can be the ideal option for cardholders who carry a balance, as it allows them to pay less in interest month to month, to potentially pay down their balance and clear it faster. And by clearing that balance, a new feature opens up.

When you pay off your balance each month by the due date on this card, you can benefit from up to 55 days interest free on purchases. So, by keeping interest costs at zero, all you will be paying to keep this card in your wallet is its low annual fee. Note, this interest free feature is not offered on accounts with balance transfers.

Like most low rate, low fee cards, the IMB Low Rate Mastercard keeps features pretty basic. But, that’s not to say there are no extras to enjoy. As a cardholder, you can take advantage of complimentary purchase cover insurance and the card’s guaranteed pricing scheme, providing an extra layer of protection to your purchases. Terms and conditions apply, so read the PDS.

What’s not so great...

Back to that intro offer. Before you sign up for any offer, it’s important to read the small print first. Know that with the IMB Low Rate Mastercard’s offer, you can only transfer up to 80% of your approved credit limit, and if you don’t manage to pay off your transferred balance within the intro period, it will revert to the card’s much higher cash advance rate.

Why should you choose this card?

A low cost card can work well for all types of cardholders. If you are not interested in fancy features or complex rewards programs, low cost cards such as the IMB Low Rate Mastercard can help to keep things simple. It’s also nice to know that you are not paying extra for features you are not using.

Of course, this type of card can be a worthy option for cardholders looking to save money, either on interest or on annual fees. Whether you use the card every day, or you only keep it for emergencies, this card can keep costs down to offer you access to credit when you need it.

Overall Rating

The IMB Low Rate Mastercard offers a low ongoing purchase rate and a discounted annual fee for the life of the card, providing further money-saving opportunity with 0% p.a. on balance transfers for 12 months.

User reviews

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

73% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 12.99% p.a.

Cash advance rate 21.74% p.a.

Interest free on purchases up to 55 days

Balance transfer

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

Balance transfer revert rate 21.74% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee.

Balance transfer limit 80% of approved credit limit

Banks you can't balance transfer from Bank of Queensland, Citi, Coles, IMB, Qantas Money, Suncorp, Virgin Money

Credit limits

Minimum credit limt $2,000

Maximum credit limit $15,000

Fees & repayments

Annual fee $49 p.a.

Additional card holder fee Up to 4 at no extra cost

Foreign transaction fee 3.4%

Minimum repayment 3%

Cash advance fee 3.5%

Late payment fee $10

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance Yes

Extended warranty insurance No

Rental vehicle excess cover No

Overview

IMB Low Rate Credit Card

The IMB Low Rate Mastercard offers a competitive annual fee and a 0% p.a. on balance transfers for 12 months. Reverts to cash advance rate. This card offers you the basic features with few frills, but there is still guaranteed pricing and purchase cover insurance, so you can buy on this card knowing your purchases are protected. When you do purchase something on this card, you will get 55 days to pay it off interest free, provided you don’t have a balance from the previous month on your card.

Key features

  • 0% p.a. on balance transfers for the first 12 months (reverts to cash rate)
  • $49 annual fee
  • Purchase rate of 12.99% p.a.
  • 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

  • Resident or citizen of Australia

  • 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.

2 questions (showing the latest 10 Q&As)

Keiran palmer

Keiran palmer

28 October 2015
I would like to know as to how to apply for your low rate credit card.
Darren

Darren

31 January 2013
Am I able to set my own credit limit for a first-time credit card user?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 February 2013
    Hi Darren, yes you are able to request your own credit limit on the application form (with other cards too). If you know how much you need and how much you can afford to repay you can do this. If you leave the question blank, the bank will assign you a credit limit based on its own lending criteria and what it thinks you are able to afford.

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