Credit Card Compare

Best low interest rate credit cards

Don't like high interest rates draining your wallet on unpaid balances? Compare low interest rate credit cards that cut the cost of purchases and help you carry a balance more affordably.

  • Low ongoing rate on balances you carry
  • Some cards from 0% p.a. ongoing
  • Often low or no annual fees

Written by Nilooka DissanayakeReviewed by Vidhu Bajaj and David Boyd

Featured
Latitude Low Rate Mastercard - Balance Transfer Offer card
Latitude Low Rate Mastercard - Balance Transfer Offer
  • 24 months at 0% p.a. on balance transfers
  • No fee to add an additional cardholder
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How much does it cost to carry a balance?

Enter your typical monthly carry balance to see the estimated interest cost for each card below.

$
Compare 116 low rate credit cards

What's happening with low rate credit cards in August

By David BoydUpdated 7 August 2026

  • Market data

    Australians owed $44.2 billion on credit and charge cards in May 2026

    Of that, $21.5 billion was still accruing interest, up 0.5% on the month (seasonally adjusted, Reserve Bank of Australia).

    Nearly half of the money Australians carry on credit cards is actively costing them in interest, suggesting many cardholders could benefit from understanding their rate options since purchase rates among cards we track range from 6.96% p.a. upwards.

Low rate by the numbers

116
Cards compared
13.03% p.a.
Average purchase rate
6.96% p.a.
Lowest purchase rate
Greater Bank Business Visa Credit Card
$50
Average annual fee
$0
Lowest annual fee

What is a low interest rate credit card?

Low interest rate cards suit people who sometimes carry a balance. Where premium rewards cards often charge above 20% p.a., low-rate cards usually sit between 8% and 15% p.a., and some business cards offer 0% p.a. ongoing.

These cards focus on affordability over perks. A lower rate cuts the interest that builds on unpaid purchases, helping you clear debt faster.

How to compare low rate cards

Look past the headline rate. Check the annual fee, since a very low rate can be offset by a high yearly cost, and check the interest-free days (often up to 44 or 55) that let you avoid interest when you pay in full.

Also look at balance transfer offers, which can give 0% for a set period, and note the revert rate that applies once any promo ends. Carrying existing debt? A balance transfer card can give you a 0% runway to clear it.

Low rate credit card FAQs

Anyone who carries a balance from month to month. The lower the ongoing purchase rate, the less interest builds up. If you always pay in full, interest-free days matter more than the rate.

Questions and answers

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Related card types

0% balance transfer cards0% purchase credit cardsBuy now, pay later style credit cardsCredit cards with up to 55 days interest-freeLow cash advance rate credit cardsNo annual fee credit cards

Sources

Credit Card Compare
Australian credit card statisticsHow CardIQ scores cards
Regulator
Lenders' Interest Rates (Reserve Bank of Australia)