Adelaide Bank 55 days interest-free Visa
Keep your credit card costs down with an interest-free period on new purchases.
This Adelaide Bank Visa credit card offers up to 55 days interest-free on purchases and a competitive annual fee of $30.
It also has a variable interest rate of 19.24% p.a. and gives you the option of linking your credit card to an offset account if you have a home loan with Adelaide Bank.
Interest free period
|Product Name||Adelaide Bank Visa Card|
|Purchase rate||19.24% p.a.|
|Interest-free period||55 days|
|Cash advance rate||19.24% p.a.|
|Min credit limit||$500|
|Max credit limit||$20,000|
|Foreign currency conversion fee||2%|
|Available to temporary residents||No|
- Get up to 55 days interest-free on purchases
- No rewards program or travel insurance
|Minimum monthly repayment||3% of the closing balance or $5, whichever is greater|
|Late payment fee||$35|
|Foreign currency conversion fee||2%|
|Overseas cash advance fee||$4|
|Overseas ATM withdrawal fee||$4|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
The Adelaide Bank Visa credit card with up to 55 days interest-free gives you simple access to credit. To make interest-free purchases, you need to pay the account’s closing balance by the due date each month. Otherwise, an interest rate of 19.24% p.a. applies to your balance.
If you have an Adelaide Bank home loan, you can link this card to your offset account and use it to pay for purchases (instead of using the offset account). This means more money stays in your offset account, which helps you save interest on your home loan. While the fee for this card is low, keep in mind that Adelaide Bank also offers a as Visa with no annual fee, as well as no interest-free days. There are also other cards that offer interest-free days as well as no annual fee.
How to applyYou can start the application process online by filling out a contact form on the Adelaide Bank website. Make sure you include your contact phone number and preferred times for an Adelaide Bank representative to call you. Alternatively, you can apply over the phone by calling 1300 652 220 between 8am and 8pm Mon-Fri or between 9am and 4pm on weekends. You'll then be asked to provide details in the following categories.
- Personal information. This includes your full name, date of birth, residential address and residency status.
- Identification. You'll need to provide a valid form of ID such as your driver's licence, passport or Medicare card.
- Employment. This includes your current role, salary, employer's name and contact details. You may also need to submit recent payslips to confirm these details.
- Financial information. You'll need to share details of any assets, such as savings accounts or shares, as well as existing debts, such as credit cards or loans. Along with these details, you'll be asked for an estimate of your ongoing household costs, including rent or mortgage payments and bills.
- Up to 55 days interest-free on purchases. This interest-free period is made up of the 30 days in your statement period, plus the 25 days to your payment due date. This means the number of interest-free days you'll get for each purchase will depend on the date it's made (and where that falls in your statement period). Check out the full guide on interest-free days to find out more about how this credit card feature works.
- Option to link to an offset account. Adelaide Bank offers this feature as a way to help you keep money in your offset account for longer each month (so it can help reduce the interest you pay on your home loan). If you've been using the offset account for everyday spending, switching to your credit card means the offset account balance will stay higher throughout the month. Then, when your credit card balance is due, the total owed will automatically be taken from the offset account. Learn more about this strategy in Finder's guide.
Rates & fees
- Annual fee. This card has an annual fee of $30 which is competitive when compared to similar credit cards with interest-free days.
- Interest rates. Any purchases not eligible for interest-free days will be charged interest at the standard variable rate of 19.24% p.a. For cash advances, an interest rate of 19.24% applies from the time the transaction is made.
- Currency conversion fee. A fee of 2% applies for transactions made overseas or online in another currency.
- Late payment fee. If you miss the due date on your credit card statement, a fee of $35 may apply to your account.