Best Low Interest Credit Cards

This short list is aimed at giving you an idea of the best low interest rate credit cards currently on the market. Whilst the first two – the Aussie MasterCard and the St George Vertigo credit card – can be compared side by side, the Citibank Clear Platinum is, as the name suggests, in a different category. Platinum credit cards offer more extensive benefits for the higher income criteria. In this case, the minimum annual income is $50,000. The income required for the Aussie MasterCard, by comparison, is only $15,000, and no income stipulation is listed for the St George Vertigo card, although one will undoubtedly exist.

Best low interest rate credit cards ideal for credit card 0 clients:

Straight away, the benefits of the Platinum card are also evident in the balance transfer offer, which is set at 0% for six months, as opposed to 2.99% for six months with the other two. The Aussie MasterCard and the Citibank Clear Platinum, however, are the ones with a combined low rate on purchases and balance transfers for six months. This means they are more useful cards as they allow new spending to occur on them without falling foul of the adverse order of payments rule, where the cheapest debt is always repaid first. Purchases made on the St George Vertigo card – even though its ongoing rate is low – will still accrue interest at that regular rate, unchecked until any balance transfer is paid off.

The main reason these can be considered amongst the best low interest rate credit cards is because of their regular purchase rate – their APR. Anything around 11% as on ongoing deal is excellent. The choice will ultimately come down to your earnings and what you plan to do with the card – whether you want to spend on it or transfer a balance to it.<

Here are the basics of the three cards so that you can decide which is the best low interest rate credit card for your requirements:

Aussie MasterCard:

* 2.99% p.a on balance transfers for the first six months
* 2.99% p.a. on purchases for the first six months
* 12.29% p.a. on purchases beyond that time
* $49 annual fee
* Up to 55 days interest-free on purchases
* Minimum income of $15,000 a year
* Credit limit up to $15,000

St George Vertigo Credit Card:

* 2.99% p.a. balance transfer rate for up to six months
* 11.99% p.a. interest rate beyond that time
* Awarded “Australia’s Cheapest Balance Transfer Credit Card” by Money Magazine in 2009, 2008 and 2007
* Up to 55 days interest-free on purchases
* Instant discounts and added extras
* $55 annual fee
* Complimentary additional card
* Emergency card replacement
* Phone and internet banking services
* Linked access to other St George accounts

Citibank Clear Platinum Credit Card:

* 0.99% p.a. on both balance transfers for the first six months
* 11.49% p.a. ongoing rate for purchases beyond that time
* Minimum $50,000 p.a. income to apply
* $49* annual fee
* Credit limit of up to $60,000
* Access to Visa Concierge
* Limited edition entertainment experiences through Visa Platinum Privileges
* Access to Citi World Privileges
* Free International Travel Insurance

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