ASB Low Interest Credit Cards – ABS Low Rate Credit Cards

We’ve researched and compiled lelow a list of all the ASB low rate credit cards currently available. For more low interest credit cards visit our low rate credit cards page, and for all ASB credit cards please visit the ASB credit cards page.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

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Updated: 13 Nov, 2024

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ASB Low Rate Credit Cards

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
ASB Visa Light Credit Card Gold Award	The ASB Visa Light credit card has no annual fee, a low purchase rate and 0% balance transfer for 6 months plus 0% p.a. for 6 months when you spend $1,000 or more on any single eligible purchase	13.5% p.a.	0% p.a. for 6 months	22.95% p.a.	$0.00	55 days More Info » Apply Now »

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

More Info »

*Terms and conditions apply

Understanding Low Rate Credit Cards

What Defines a Low Rate Credit Card?

A low rate credit card typically offers a lower interest rate compared to standard credit cards. This means you pay less interest on any outstanding balance.

Key Features to Look For

When choosing a low rate credit card, consider the following features:

• Interest Rate: Look for a card with a competitive low interest rate.
• Annual Fees: Be aware that low rate cards may have higher annual fees.
• Balance Transfer Options: Some cards offer low or zero interest on balance transfers for a limited time.
• No Rewards Programs: These cards usually do not offer rewards programs, which can be beneficial if you carry a balance.

Pros and Cons

Pros:

1. Lower interest rates can save you money on interest charges.
2. Ideal for those who carry a balance month-to-month.
3. Balance transfer offers can help manage existing debt if available.

Cons:

1. Can come with a higher annual fee compared to standard rate cards.
2. Lack of rewards programs.
3. May not be suitable for those who pay off their balance in full each month.

Comparing Low Rate Credit Cards

When comparing low rate credit cards, there are several important factors to consider. Each card offers different benefits and drawbacks, so it’s essential to understand what to look for to make the best choice for your financial needs.

Annual Fees and Interest Rates

Low rate credit cards come with higher annual fees compared to standard rate cards. It’s important to weigh the annual fee against the potential savings from the lower interest rate.

Balance Transfer Options

Many low rate credit cards offer balance transfer options, allowing you to transfer existing debt to a new card with a lower interest rate. This can be a great way to save on interest payments and pay off debt faster. Be sure to check the terms and conditions, as some cards may have specific requirements or limitations.

Rewards and Benefits

While low rate credit cards typically focus on providing lower interest rates, some also offer rewards and benefits. These can include cashback, points for purchases, or travel perks. However, it’s important to ensure that the rewards and benefits align with your spending habits and financial goals.

How to Choose the Best Low Rate Credit Card

Assessing Your Financial Situation

Before selecting a low rate credit card, it is crucial to evaluate your financial status. Determine if you have existing credit card debt and whether you can pay off your balance in full each month. If you struggle with debt, a card with a balance transfer option might be more beneficial.

Evaluating Card Offers

When comparing card offers, look for the following features:

• Low interest rates: Aim for the lowest possible rate to save on interest charges.
• Annual fees: Some cards have no annual fees, while others might charge a fee. Weigh the benefits against the cost.
• Interest-free periods: Check if the card offers an interest-free period on new purchases.
• Balance transfer terms: If you have existing debt, consider cards with favorable balance transfer terms.

Reading the Fine Print

Always read the fine print before committing to a credit card. Look out for hidden fees, such as late payment charges or foreign transaction fees. Understanding all terms and conditions will help you avoid unexpected costs and make an informed decision.

Balance Transfer Offers on Low Rate Credit Cards

Balance transfer offers can be a great way to manage existing debt. These offers often come with a very low or even 0% interest rate for a set period, usually between 6 to 12 months. However, not all low rate credit cards include balance transfer deals, so it is essential to review the details carefully before applying.

What is a Balance Transfer?

A balance transfer allows you to move debt from one credit card to another, usually to take advantage of a lower interest rate. This can provide temporary relief from high interest rates, but it requires discipline. You need a plan to pay off the debt within the low or no interest term to avoid ending up in the same or worse financial situation.

Top Balance Transfer Deals

Many low rate credit cards offer attractive balance transfer deals. Here are some key points to consider:

• Interest Rate: Look for cards offering 0% interest for the longest period.
• Transfer Fees: Some cards charge a fee for transferring a balance, usually a percentage of the amount transferred.
• Duration: The length of the low or no interest period can vary, so choose one that gives you enough time to pay off your debt.

Things to Consider

Before applying for a balance transfer, keep these points in mind:

1. Approval: You must be approved for the new card, and there may be limits on how much you can transfer.
2. Repayment Plan: Divide your transferred balance by the number of months in the offer period to ensure you can make regular payments.
3. Post-Offer Interest Rate: Be aware of the interest rate that will apply after the introductory period ends, as it can be significantly higher.

Common Misconceptions About Low Rate Credit Cards

Hidden Fees and Charges

A common myth is that low rate credit cards have no hidden fees. While they often have lower interest rates, they can still come with fees such as annual fees, late payment fees, or balance transfer fees. Always read the terms and conditions to know what fees might apply.

Suitability for Different Users

Not everyone benefits from a low rate credit card. If you pay off your balance in full each month, a rewards card might be more beneficial. Low rate cards are best for those who carry a balance and want to save on interest. Assess your spending habits to determine if a low rate card is right for you.

Maximising the Benefits of Low Rate Credit Cards

To get the most out of your low rate credit card, it is essential to manage it wisely. Here are some tips:

• Pay your balance on time: Always aim to pay off your balance in full each month to avoid interest charges.
• Monitor your spending: Keep track of your purchases to ensure you stay within your budget.
• Set up alerts: Use your bank’s alert system to remind you of due dates and spending limits.

While low rate credit cards offer many benefits, there are common pitfalls to avoid:

• Ignoring fees: Be aware of any annual fees or hidden charges that may apply.
• Over-reliance on low rates: Do not let the low interest rate encourage you to overspend.
• Missing payments: Missing a payment can lead to higher interest rates and additional fees.

Balance transfers can be a powerful tool if used correctly. Here is how to make the most of them:

1. Compare offers: Look for cards with the best balance transfer deals, including low or zero interest rates for an introductory period.
2. Understand the terms: Make sure you know the duration of the introductory period and what the interest rate will be afterward.
3. Plan your payments: Create a plan to pay off the transferred balance before the introductory period ends to avoid higher interest rates.

Frequently Asked Questions

What is a low rate credit card?

A low rate credit card is a type of credit card that offers a lower interest rate on purchases compared to standard credit cards. This can help you save money on interest if you carry a balance from month to month.

Do low rate credit cards have high annual fees?

Yes, low rate credit cards often come with higher annual fees just like standard rate cards.

Are there low rate credit cards with balance transfer offers?

Yes, many low rate credit cards also offer balance transfer deals. These deals often come with an even lower interest rate for the balance transferred for a fixed period, usually between 6 to 12 months.

What should I consider before getting a low rate credit card?

Before getting a low rate credit card, consider if it suits your financial habits. If you pay off your balance in full each month, a rewards credit card might be better. But if you carry a balance, a low rate card can save you money on interest.

Do low rate credit cards offer rewards?

Typically, low rate credit cards do not offer rewards programs. The focus of these cards is to provide a lower interest rate, which can be more beneficial if you tend to carry a balance.