Low Rate Platinum

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Basic

Card Level
Card Level
Platinum
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$6,000
Minimum repayment dollars
Minimum repayment dollars
$25
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
9
Annual Fee
Annual Fee
$99
Late Payment Fee
Late Payment Fee
$20
Over limit fee
Over limit fee
$20
Duplicate statement fee
Duplicate statement fee
$0
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Platinum
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$6,000
Minimum repayment dollars
Minimum repayment dollars
$25
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
9
Annual Fee
Annual Fee
$99
Late Payment Fee
Late Payment Fee
$20
Over limit fee
Over limit fee
$20
Duplicate statement fee
Duplicate statement fee
$0
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
11.49%
Cash advance rate
Cash advance rate
21.74%
Purchase Rate
Purchase Rate
11.49%
Cash advance rate
Cash advance rate
21.74%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%for 15 months then 21.74%
Transfer Limit
Transfer Limit
95%of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
0%for 15 months then 21.74%
Transfer Limit
Transfer Limit
95%of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
Overseas charges
Overseas charges
$6
Estimated ATM Cost
Estimated ATM Cost
Foreign Exchange Fee
Foreign Exchange Fee
Overseas charges
Overseas charges
$6
Estimated ATM Cost
Estimated ATM Cost

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$35,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$35,000
Eligibility conditions
Eligibility conditions

Perks

  • Concierge
  • Extended WarrantyWarranty is extended for the same duration as the original warranty up to 1 year.
  • Free Domestic Travel InsuranceAvailable for up to 14 days when you use your card to pay for return domestic travel
  • Free International Travel Insurance
  • Free Travel Insurance DaysCover lasts for the shorter of the completion of your trip or 6 months of travel or when you return to your usual place of residence
  • Price GuaranteeIf you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 21 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is more than $75 and less than $300.
  • Purchase Protection
  • Rental Car Excess Insurance
  • Free Supplementary Cards
Other Benefits
$250 cashback if you spend $500 on eligible purchases in the first 60 days

Features

The ANZ Low Rate Platinum credit card comes with a moderately low interest rate, a moderate annual fee and a moderate interest-free period. There is also a balance transfer deal offered with this card for a specified introductory period.

Cardholders also have access to complimentary insurance coverage, including overseas travel and medical insurance, interstate flight inconvenience insurance and rental excess cover. Purchases on the card are covered by extended warranty insurance and 90-day purchase security insurance.

There is no rewards program associated with this card. Account owners can add up to nine additional cardholders for a fee.

Security-wise, customers are protected by ANZ’s Fraud Money Back Guarantee as well as ANZ Falcon, which provides 24/7 monitoring of suspicious transactions. The card is also compatible with Apple Pay, Google Pay and Samsung Pay, so you can use your smartphone to make tap-and-go purchases at stores. 

Pros
  • Moderately low interest rate
  • Complimentary insurance
  • Allows additional cardholders
Cons
  • No rewards program
  • Late payment fee charged
  • High overseas spending fees

 

Who is it good for?

The ANZ Low Rate Platinum card is especially good for those wanting a credit card with a relatively low interest rate, such as people who don’t always manage to pay their credit card bill entirely each month or those who are on a tight budget.

Potential cardholders who are looking to pay off debt carried over from another credit card could also benefit from this card’s introductory balance transfer interest rate.

Small business owners and other people who need to share a credit account with others could also take advantage of this card’s allowance for up to nine additional cardholders.

There is no dedicated rewards scheme attached to this card, so it isn’t particularly suitable for those who spend a lot on their credit card with the aim of earning rewards, cashback or frequent flyer miles. 

What RateCity says

Two of the biggest drawcards of the ANZ Low Rate Platinum card are its moderately low interest rate and balance transfer offer – both of which offer potential savings for the typical budget cardholder. Additionally, this card’s complimentary insurances offer peace of mind for travellers as well as extra protection for purchases made on the card.

For those looking to really cut down on costs, though, there are other cards available with lower interest rates as well as lower fees.

There’s no rewards program with this card, which is to be expected for a credit card with a moderately low interest rate. However, if you’re planning to spend frequently on your card and pay off your balance in full every month, you might benefit more from a credit card that offers the ability to earn rewards. 

Applying/eligibility

To be eligible for the ANZ Low Rate Platinum credit card, you must be at least 18 years old and an Australian permanent resident or a non-Australian permanent resident with more than nine months left on your visa. You also need to have a good credit rating and earn at least $35,000 annually. To apply, you will need to provide proof of identification and income, and proof of employment. Applications can be completed online or at an ANZ branch. 

About ANZ

Australia and New Zealand Banking Group (ANZ) makes up one of Australia’s big four banks. ANZ offers customers personal finance products, including bank and savings accounts, credit cards, personal loans, car loans and home loans. There are many ANZ branches throughout the country and 24-hour support is available to customers through the bank’s online services and via phone. Customers can also manage their own finances through ANZ internet banking and the ANZ App*.

*The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available at www.anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

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