American Express - Low Rate Credit Card
The AMEX Low Rate credit card has up to 55 days interest-free on purchases. There is no annual fee. Up to 4 additional cardholders may be added for $0.
An ongoing purchase interest rate of 10.99% p.a.
Annual Fee
$0 per year
Minimum Repayment
2.50% or $30 per statement, whichever is greater
Purchase Rate
10.99% p.a.
Interest Free Period
up to 55 days
Details
Card Type
American Express
Minimum Repayment
2.50% or $30
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$1,000
Fees
Annual Fee
$0
per year
Late Payment Fee
$30
per statement
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 4
additional holders
Rates
Purchase Rate
10.99% p.a.
Overseas Spending
Foreign Currency Conversion Fee
3%
per transaction
Eligibility
Minimum Age
18
years old
Temporary Residents
Yes
Perks
Complimentary Travel Insurance
No
Airport Lounge Access
No
Who is the product designed for?
The Target Market for this credit card are consumers who:
- are looking to make purchases on credit with a card that charges no annual fee and an interest rate of 10.99%; and
- earn a sufficient income to enable them to pay their outgoings and living expenses, in addition to their card repayments each month without experiencing financial hardship.
Visit American Express to view Target Market Determination Effective From: 2023-10-20.
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