Highest Interest Rate Credit Cards
Latitude Financial's 'Go MasterCard' had a Cash Advance interest rate of 29.49% until March 2019. Presently it is 25.9%, but now incorporates a Cash Advance Fee of $3 or 3% of the cash advance amount, whichever is greater = 28.9%. It also charges an explicit 'Late fee' of $35 and $8.95 monthly account service fee when outstanding balance is greater than $10. Little wonder that Credit Cardholders with low Financial Literacy Capacity (independently classified by the Productivity Commission, ABS and ASIC) get lured into applying for a Latitude Financial GO Mastercard because of deceptively offering 'Enjoy now. Pay later. Interest Free'.
Citi Rewards Credit Card has a Purchase interest rate of 21.49% p.a., a Cash Advance interest rate of 22.24%, an Annual Fee of $149 p.a. after the 1st year, $90 p.a. for an additional card. Late Payment Fee of $30. Dishonour Fee of $15. Domestic Cash Advance Fee of 3.5% or $3.50 which ever is the higher. Overlimit Fee (for accounts opened prior to 1 July 2012).
Go MastercardLAST UPDATED ON 25 APR 2016The GO MasterCard offers great options for making interest free purchases and also offers a free rewards program with the chance to earn rewards points at a rate of 1 GO Reward credit card rewards point per $1 spent.
Key Features
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Lombard Visa Card Classic: 25.9 per cent p.a.
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American Express Platinum Card – $1,200 p.a. |
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Australia’s most predatory credit cards revealed