Best Low Interest Credit Cards (2026)
The lowest purchase rates, ranked with the annual fees and features that matter. Last updated: 14/06/2026
Rates can change without notice. Last verified: 14/06/2026 (AEST). Please confirm details on the bank’s official page.
A low interest card is the right tool whenever you carry a balance: rates here sit around 11–14% p.a. versus 19–22% on rewards cards, so the interest you save dwarfs any points you’d forgo. They drop the rewards program in exchange for a lower rate and a small annual fee — a trade that pays off the moment a balance lingers past the due date.
Our Top Picks for 2026
CommBankLow Rate Credit Card
The lowest starting purchase rate here — applicants with strong credit may land near the 10.99% floor, though the rate is personalised and can reach 15.99%. Backed by Australia's largest bank and its app, with no rewards program to inflate the rate.
Pros
- ✓ Lowest available starting rate (10.99%)
- ✓ 55 interest-free days
- ✓ CommBank app and branch network
Cons
- ✗ Rate is personalised — up to 15.99%
- ✗ $6/month ($72/year) fee
- ✗ No rewards
BankwestBreeze Classic Mastercard
A flat 12.99% rate that isn't personalised — what you see is what you get — plus a 0% balance transfer for 24 months and the lowest annual fee of the bank-issued cards here. The most well-rounded low-rate pick for predictable pricing.
Pros
- ✓ Flat 12.99% rate (not personalised)
- ✓ 0% BT for 24 months
- ✓ Lowest annual fee here ($49)
Cons
- ✗ 3% balance transfer fee
- ✗ No rewards program
NABLow Rate Card
A no-frills low-rate card with the annual fee waived in the first year for new customers, so the first 12 months cost nothing to hold. A straightforward 13.49% rate and 55 interest-free days — best if you'll clear a balance within the first year.
Pros
- ✓ $99 annual fee waived first year
- ✓ Straightforward 13.49% rate
- ✓ 55 interest-free days
Cons
- ✗ $99 fee applies from year two
- ✗ No rewards program
ANZLow Rate
ANZ's lowest-rate card pairs a competitive 13.74% rate with a modest $58 annual fee, and the same card anchors our balance-transfer guide with a 26-month 0% offer. A solid all-purpose low-rate card from a major bank.
Pros
- ✓ Low $58 annual fee
- ✓ Also offers 0% BT for 26 months
- ✓ 55 interest-free days
Cons
- ✗ 13.74% rate higher than the leaders
- ✗ No rewards program
Full Low Interest Comparison
All low-rate cards we track, sorted by purchase rate (lowest first). See the full listing →
- Card
- Low Rate Credit Card
- Program
- —
- Bonus points
- —
- Annual fee
- $72
- Interest-free days
- 55 days
- Verified
- 2026-06-14
- Card
- Breeze Classic Mastercard
- Program
- —
- Bonus points
- —
- Annual fee
- $49
- Interest-free days
- 55 days
- Verified
- 2026-06-14
- Card
- Low Rate Card
- Program
- —
- Bonus points
- —
- Annual fee
- $99
- Interest-free days
- 55 days
- Verified
- 2026-06-14
- Card
- Low Rate
- Program
- —
- Bonus points
- —
- Annual fee
- $58
- Interest-free days
- 55 days
- Verified
- 2026-06-14
- Card
- Low Rate Card
- Program
- —
- Bonus points
- —
- Annual fee
- $59
- Interest-free days
- 55 days
- Verified
- 2026-06-14
| Provider | Card | Program | Bonus points | Annual fee | Interest-free days | Verified | Action |
|---|---|---|---|---|---|---|---|
| CommBank | Low Rate Credit Card | — | — | $72 | 55 days | 2026-06-14 | |
| Bankwest | Breeze Classic Mastercard | — | — | $49 | 55 days | 2026-06-14 | |
| NAB | Low Rate Card | — | — | $99 | 55 days | 2026-06-14 | |
| ANZ | Low Rate | — | — | $58 | 55 days | 2026-06-14 | |
| Westpac | Low Rate Card | — | — | $59 | 55 days | 2026-06-14 |
How to Choose a Low Interest Card
1. Compare the rate against the fee
A slightly higher rate with a lower fee can cost less on a small balance, and vice versa on a large one. On a $2,000 balance, the difference between 12.99% and 13.74% is about $15 a year — less than the gap between a $49 and $99 annual fee. Weigh both together, not the rate alone.
2. Watch for personalised pricing
CommBank’s headline 10.99% is a floor, not a guarantee — your actual rate (up to 15.99%) depends on a credit assessment. If certainty matters, a flat-rate card like Bankwest’s 12.99% tells you exactly what you’ll pay.
3. Use the first-year fee waiver
NAB waives its $99 fee for the first year. If you plan to clear a balance within 12 months, that’s a real saving — just diarise when the fee kicks in so you can review the card before year two.
4. Look for a balance transfer combo
Several low-rate cards double as balance transfer cards — Bankwest (0% for 24 months) and ANZ (0% for 26 months). If you’re consolidating existing debt, a low ongoing rate plus a long 0% window is the best of both worlds.
5. Still pay in full when you can
A low rate softens the cost of carrying a balance, but interest-free days (55 on these cards) mean you pay nothing if you clear the statement in full. Treat the low rate as a safety net, not a licence to carry debt.
In-depth Reviews
- CommBank Low Rate Credit Card review — 10.99%–15.99% p.a. (personalised on approval)
- Bankwest Breeze Classic Mastercard review — 12.99% p.a. — Bankwest's lowest ongoing purchase rate
- NAB Low Rate Card review — 13.49% p.a. — straightforward low rate
- ANZ Low Rate review — 13.74% p.a. — ANZ's lowest rate card
- Westpac Low Rate Card review — 13.74% p.a. — variable low rate
Frequently Asked Questions
What is the lowest interest credit card in Australia?
Among the cards we track, the CommBank Low Rate card has the lowest starting purchase rate at 10.99% p.a., though it's personalised on approval and can reach 15.99%. The Bankwest Breeze Classic offers the lowest guaranteed (non-personalised) rate at a flat 12.99% p.a.
When is a low rate card better than a rewards card?
Whenever you carry a balance. Rewards cards charge around 19–22% p.a., so the interest on a carried balance quickly outweighs any points earned. A low rate card at 11–14% p.a. minimises that interest. If you always pay in full, the rate doesn't matter and a rewards card may suit you better.
What does a 'personalised' interest rate mean?
Some cards, like CommBank's Low Rate, set your rate within a range (10.99%–15.99%) based on a credit assessment of your individual circumstances. You won't know your exact rate until you're approved. Cards with a single advertised rate, like Bankwest at 12.99%, charge everyone the same regardless of credit profile.
Do low rate cards charge an annual fee?
Most do, but they're modest — typically $49 to $99 a year. Some waive the fee for the first year (NAB). If you want a genuinely $0-fee card with a low rate, the Amex Low Rate and Heritage Gold appear in our best no annual fee cards guide.
Can I still get interest-free days on a low rate card?
Yes. All the low rate cards here offer up to 55 interest-free days on purchases, provided you pay the full statement balance by the due date. The low rate only comes into play on any balance you carry beyond the interest-free period.
Related guides
- Best balance transfer cards — longest 0% offers to clear existing debt
- Best no annual fee cards — low-rate options with $0 holding cost
- Best credit cards — rewards, low rate and no-fee picks
- Balance transfer explained — how 0% periods and revert rates work
Information is general in nature and may change without notice. Rates and offers verified 14/06/2026. Confirm current offers, fees and eligibility on each provider’s website before applying. This is not financial advice.