Aussie Credit Card - Compare Your Bank Overview^#

If you are looking for a low rate credit card there are plenty of excellent options on the Australian credit card market. Even with recent rises in interest rates there is still good value to be had with may credit cards offering ongoing interest rates around the 10 per cent mark.

One such credit card is the Aussie MasterCard which offered a competitive interest rate on purchases of 11.74 per cent per annum at the time of writing. In addition, its interest rate on cash withdrawals is a very competitive 17.99 per cent per annum. So, if you are the kind of person who uses their credit card to access cash, this could be the product for you.

As with most credit cards, the Aussie MasterCard offers up to 55 days of interest free credit on purchases. This, however, does not apply to cash advances, on which interest is charged immediately.

However, if you are moving from another credit card provider and you are bringing a hefty credit card balance with you, you will be pleased to know that you can enjoy six months interest free on your existing balance. So, if you are prudent and pay off credit on any new purchases within the interest free period each month this card will cost you nothing in interest for the first six months.

The only fee you will have to pay is the $49 annual fee which is pretty competitive. Of course, there are other fees such as late payment fees and penalties for exceeding your credit limit, but these are entirely avoidable if you are careful.

The Aussie MasterCard does not offer a rewards scheme so if you are a fan of these it may not be the card for you. However, you do get a good, no-frills credit card with competitive interest rates. You also get good customer service, and easy application and switching process, and access to 24 hour online banking.

You do not have to be an existing Aussie customer to apply for an Aussie MasterCard, and you can even complete the application process online. All you need is to have a few documents such as your driving license to hand, and contact details for your employer. If you pass all the criteria you could be approved in minutes. In fact, once you submit your online form, Aussie promises to respond within 60 seconds.

If you are looking for a low credit card interest rate and you are not looking for a card with all the bells and whistles the Aussie MasterCard is an excellent option. However, be sure to shop around and read all the terms and conditions before deciding on any financial product.

*Note & Disclaimer: The Compare Your Bank Overview is provided for information only. It does not act as financial advise and is not endorsed by Aussie. Please see the application page for full terms & conditions and current offer.