Low Rate Credit Cards Guide
Key Benefits:
- Lower interest rates
- Reduced annual fees
- Simple features
- Interest-free days
Why Choose a Low Rate Card?
Low rate credit cards are ideal if you occasionally carry a balance or want to minimize interest charges. They typically have lower annual fees and simpler features compared to rewards cards.
Example Savings
On a $3,000 balance over 12 months:
- Standard card (19.95%): $598.50 interest
- Low rate card (12.95%): $388.50 interest
- Potential savings: $210.00
Compare Low Rate Cards
ASB Visa Light
ASB Bank
Interest Rate 12.95%
Annual Fee $0
- 55 days interest-free
- No annual fee
- Purchase protection
ANZ Low Rate
ANZ Bank
Interest Rate 13.90%
Annual Fee $35
- 44 days interest-free
- Low annual fee
- Fraud protection
Kiwibank Low Rate
Kiwibank
Interest Rate 13.95%
Annual Fee $30
- 55 days interest-free
- Mobile payments
- 24/7 support
Calculate Your Interest Savings
Credit Card Interest Calculator
$
NZD
%
$
NZD
Results
Time to Pay Off
12 months
Total Interest
$103
Tips
- • Paying more than the minimum payment saves interest
- • Consider a balance transfer to save on interest
- • Pay full balance to avoid interest charges
Key Features to Consider
Interest Rates
- Purchase rate
- Cash advance rate
- Balance transfer offers
- Interest-free days
Fees
- Annual fee
- Late payment fees
- Cash advance fees
- Foreign transaction fees
Low Rate Card Tips
- Pay more than the minimum
- Set up automatic payments
- Use interest-free days
- Avoid cash advances
- Compare total costs
Common Questions
How do interest-free days work?
Most low rate cards offer 44-55 interest-free days on purchases if you pay your balance in full each month.
Should I choose a card with no annual fee?
Consider both the interest rate and annual fee. A slightly higher rate with no annual fee might cost less overall, depending on your typical balance.
Can I still get rewards with a low rate card?
Most low rate cards don't offer rewards programs, as they focus on providing lower interest rates instead.