Best Low Interest Credit Cards (2026)
The lowest purchase rates, ranked with the annual fees and features that matter. Last verified: 29/10/2026
Rates can change without notice. Last verified: 29/10/2026 (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. The rate is personalised, so applicants with strong credit may land near the floor while others pay more (the range is 10.99–15.99%). No rewards program to inflate the rate.
Pros
- ✓ Lowest starting rate (10.99%)
- ✓ 55 interest-free days
Cons
- ✗ Rate is personalised (10.99–15.99%)
- ✗ $72 ($6/month) annual fee
- ✗ No rewards
BankwestBreeze Classic Mastercard
A flat rate that isn't personalised, so what you see is what you get, plus a long 0% balance transfer and one of the lowest annual fees 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
- ✓ $49 annual fee
Cons
- ✗ Balance transfer fee applies
- ✗ No rewards program
NABLow Rate Card
A plain low-rate card with a choice of intro offer: cashback after a minimum spend, or one of the longest 0% balance transfers around. Existing NAB customers also skip the annual fee in year one. Pick the offer that matches why you want the card.
Pros
- ✓ $400 cashback or 0% BT for 26 months
- ✓ 13.99% purchase rate
- ✓ 55 interest-free days
Cons
- ✗ $99 annual fee (first year free for existing NAB customers only)
- ✗ 3% balance transfer fee
- ✗ No rewards program
ANZLow Rate
ANZ's lowest-rate card pairs a competitive rate with a modest annual fee, and also carries a long 0% balance transfer 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
- ✗ 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
- 2026-10-29
- Card
- Visa Credit Card
- Program
- —
- Bonus points
- —
- Annual fee
- $59
- Interest-free days
- 62 days
- Verified
- 2026-10-29
- Card
- Breeze Classic Mastercard
- Program
- —
- Bonus points
- —
- Annual fee
- $49
- Interest-free days
- 55 days
- Verified
- 2026-09-30
- Card
- Low Rate
- Program
- —
- Bonus points
- —
- Annual fee
- $58
- Interest-free days
- 55 days
- Verified
- 2026-10-29
- Card
- Low Rate Card
- Program
- —
- Bonus points
- —
- Annual fee
- $84
- Interest-free days
- 55 days
- Verified
- 2026-10-29
- Card
- Low Rate Card
- Program
- —
- Bonus points
- —
- Annual fee
- $99
- Interest-free days
- 55 days
- Verified
- 2026-10-29
| Action | |||||||
|---|---|---|---|---|---|---|---|
CommBank | Low Rate Credit Card | — | — | $72 | 55 days | 2026-10-29 | |
People First Bank | Visa Credit Card | — | — | $59 | 62 days | 2026-10-29 | |
Bankwest | Breeze Classic Mastercard | — | — | $49 | 55 days | 2026-09-30 | |
ANZ | Low Rate | — | — | $58 | 55 days | 2026-10-29 | |
Westpac | Low Rate Card | — | — | $84 | 55 days | 2026-10-29 | |
NAB | Low Rate Card | — | — | $99 | 55 days | 2026-10-29 |
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
A personalised card’s headline rate is a floor, not a guarantee: your actual rate depends on a credit assessment (CommBank: 10.99–15.99%). If certainty matters, a flat-rate card like Bankwest’s (12.99% p.a.) 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, such as 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)
- People First Bank Visa Credit Card review — 12.95% p.a. — People First Visa, 2.99% intro for 6 months
- Bankwest Breeze Classic Mastercard review — 12.99% p.a. — Bankwest's lowest ongoing purchase 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
- NAB Low Rate Card review — 13.99% p.a. — straightforward low rate
Frequently Asked Questions
What is the lowest interest credit card in Australia?
Among the cards we track, the CommBank Low Rate Credit Card has the lowest starting purchase rate at 10.99% p.a., though it's personalised on approval (10.99–15.99%). The Bankwest Breeze Classic offers a guaranteed (non-personalised) rate of 12.99% p.a..
When is a low rate card better than a rewards card?
Whenever you carry a balance. Rewards cards typically charge 20% p.a. or more, so the interest on a carried balance quickly outweighs any points earned. The low rate cards we compare start from 10.99% p.a. 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 set your rate within a range based on a credit assessment of your individual circumstances (the CommBank card's range is 10.99–15.99%). You won't know your exact rate until you're approved. Cards with a single advertised rate, like Bankwest at 12.99% p.a., charge everyone the same regardless of credit profile.
Do low rate cards charge an annual fee?
Most do, but they're modest: $49 to $99 a year among the cards we compare. Some waive the fee for the first year. If you want a genuinely $0-fee card with a low rate, the Amex Low Rate appears 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 29/10/2026. Confirm current offers, fees and eligibility on each provider’s website before applying. This is not financial advice.