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Best Low Interest Credit Cards for 2026
Compare top picks for low interest rates and balance transfers
Quick Picks
Best overall: CommBank Low Rate Credit Card.
Best budget: ANZ Low Rate Credit Card.
Best for balance transfers: Westpac Low Rate.
Best for Occasional Balances
For those who carry a balance now and then, finding a card with a low interest rate can save a significant amount. Here are some top choices that cater to this need.
CommBank Low Rate Credit Card
CommBank's Low Rate Credit Card offers a competitive rate starting at 10.99% p.a. This makes it an attractive option for Australians seeking to carry a balance occasionally without incurring high interest charges. However, the $6 monthly fee can add up, and the lack of a rewards program means this card is strictly about interest savings. Best for those prioritizing low interest over perks.
ANZ Low Rate Credit Card
The ANZ Low Rate Credit Card matches its competitors with a 13.74% p.a. purchase rate and a slightly lower annual fee of $58. While it also lacks a rewards program, its focus on reducing interest costs makes it a solid budget choice for those occasionally carrying a balance. Unlike the CommBank card, ANZ offers balance transfer options, albeit at a higher rate.
Westpac Low Rate Card
Westpac's Low Rate card slightly edges out the ANZ with its cashback offer and 0% p.a. for 20 months on balance transfers. While it shares the same interest rate of 13.74% p.a., the additional perks can appeal to those who might occasionally want more than just low interest. The $59 annual fee is balanced by the potential cashback, making it a versatile option.
While these low-rate options are great for managing occasional balances, they don't offer much in terms of rewards. If you're looking for cards that provide more than just low interest rates, consider options that include rewards or cashback benefits.
Conclusion
Choosing the right low interest credit card depends largely on your spending habits and financial goals. If minimizing interest is your top priority, the CommBank Low Rate Credit Card is a standout choice. However, if you're interested in a balance transfer offer, Westpac's card provides more flexibility. Always ensure you understand the terms and conditions before applying.
