ANZ Low Rate Visa Review
Competitive low interest rate credit card from New Zealand's largest bank with reliable service and established network
Quick Facts
Executive Summary
The ANZ Low Rate Visa offers a competitive 13.90% purchase rate with the backing of New Zealand's largest bank. At $60 annually, it provides good value for customers who prioritize low interest rates over rewards, backed by ANZ's extensive network and reliable customer service.
Key Features & Benefits
Low Rate Benefits
- 13.90% purchase rate - competitive among major banks
- 55-day interest-free period on purchases when balance paid in full
- No complexity - straightforward rate structure without tiers
- Rate guarantee - fixed rate for life of account
ANZ Banking Benefits
- Largest branch network in New Zealand for in-person service
- Integrated banking - works seamlessly with ANZ accounts
- 24/7 customer service and established call center support
- Mobile and online banking with comprehensive features
Standard Card Features
- Visa acceptance - accepted worldwide
- Contactless payments - tap and pay functionality
- Digital wallet support - Apple Pay and Google Pay compatible
- Purchase protection and fraud monitoring
Interest Rate Analysis
Competitive Positioning
At 13.90%, the ANZ Low Rate Visa sits competitively among major bank offerings. While not the absolute lowest rate available, it provides good value when combined with ANZ's extensive banking services and network.
Rate Comparison
- ASB Visa Flex 9.95%
- BNZ Lite Visa 12.90%
- ANZ Low Rate 13.90%
- ASB Low Rate 14.50%
Annual Cost Analysis
- $2,000 balance: $338/year*
- $5,000 balance: $755/year*
- vs 21.95% card: Save $400/year
- *Includes annual fee
Interest Savings Calculator
| Balance Carried | ANZ Low Rate (13.90%) | Standard Card (21.95%) | Annual Savings |
|---|---|---|---|
| $1,000 | $199 | $280 | $81 |
| $3,000 | $477 | $719 | $242 |
| $5,000 | $755 | $1,158 | $403 |
| $10,000 | $1,450 | $2,255 | $805 |
*Annual cost includes $60 annual fee
Costs & Fees Analysis
Annual Costs
Transaction Fees
Value Analysis
The $60 annual fee is easily justified by the low 13.90% rate. Anyone carrying a $1,000+ balance will save more in interest than they pay in fees, making this card excellent value for rate-conscious borrowers.
Eligibility & Application
Requirements
- Minimum annual income: $
- New Zealand resident, age 18+
- Good credit history and stable income
- Reasonable debt-to-income ratio
Application Process
- Apply online or in any ANZ branch
- Existing customers often approved faster
- Decision typically within 5-7 business days
- Card delivery within 7-10 business days
Pros & Cons
Advantages
- Competitive 13.90% interest rate
- Major bank reliability and service network
- Reasonable $60 annual fee
- No complexity - simple rate structure
- Integrates well with existing ANZ banking
- Established customer service and support
Disadvantages
- Not the lowest rate available (ASB Visa Flex 9.95%)
- No rewards or cashback program
- Foreign transaction fees apply (2.10%)
- Additional cards cost $25 each
- Higher minimum income requirement than some alternatives
- No premium travel benefits
Who Should Apply?
Ideal Candidates
- Existing ANZ customers: Those who value integrated banking and already have relationships with ANZ
- Rate-conscious borrowers: Those who occasionally carry balances and want to minimize interest costs
- Major bank preference: Those who prefer dealing with established major banks over smaller lenders
- Simplicity seekers: Those wanting straightforward credit without rewards complexity
Consider Alternatives If...
- You want the absolute lowest rate (consider ASB Visa Flex)
- You want to earn rewards or cashback on spending
- You frequently make international purchases
- You never carry a balance (consider a fee-free card)
Final Verdict
The ANZ Low Rate Visa offers a competitive 13.90% interest rate backed by New Zealand's largest bank. While not the absolute lowest rate available, it provides excellent value for ANZ customers who appreciate major bank service, reliability, and the comprehensive branch network.
Ready to Apply?
Get your ANZ Low Rate Visa today
Apply at ANZ →External link - Terms and conditions apply
Quick Comparison
💰 Interest Savings
Save $400+ annually on a $5,000 balance compared to standard rate cards. The low 13.90% rate makes this excellent for rate-conscious borrowers.