The Westpac Low Rate may be one of the better Big Four credit cards, but it still lags distantly behind the Bankwest Lite MasterCard and other less expensive cards from small banks and credit unions.

The GE Money Low Rate MasterCard is quite cheap with a good interest free period and moderate annual fee, but the rate is too high for it to compete against other no-frills cards.

The CPS Silver Low Rate MasterCard is cheap...as long as you're on your best behaviour. The punitive exception fee structure and expensive foreign transactions may be a deterrent for some.

The Bendigo Basic Black is the new, well...black. It's quite possibly the cheapest card we've reviewed, with a super-low interest rate and 44 days interest free.

The Low Rate may be the business credit card for you if you'll spend more than $20,000 each year and don't want a rewards program. Otherwise, the Business One Rewards offers better value.

The Members Equity MasterCard is, not surprisingly, a cheap, no-frills card. However although the annual fee is cheaper than most, the interest free period is also shorter.

Commonwealth have created a business credit card with a truly low rate, without over-compensating the annual fee. It's just a pity it doesn't have an interest free period.

The NAB Low Rate Visa is a solid contender for the title of cheapest card and is the only sub-eleven-percent card offered by one of the big four.

The HSBC Credit Card (formerly the HSBC Low Rate Visa) may be less ironic after its re-branding, but it's still uncompetitive. The interest rate is too high and the features too low.

The St George Low Rate is a great card, but for only a modest increase in price, the Platinum offers better value.

The Commonwealth Low Rate is simple, but without compromising on the features that matter. It's a tick in every box for students, the budget-conscious and those looking for their first credit card.

The ANZ Low Rate Mastercard is a great card for students, young people getting their first credit card or anyone looking for a great balance transfer deal.