Bank Australia No Annual Fee Visa Credit Card Review

Take advantage of a $0 annual fee, competitive interest rate and up to 55 interest-free days with the Bank Australia No Annual Fee Visa Credit Card.

The Bank Australia Visa is a $0 annual fee credit card that also offers a low ongoing variable rate of 12.39% p.a. for both purchases and cash advances. If you pay your balance in full by the due date on each statement, you can also enjoy up to 55 days interest-free on purchases, allowing you to save even more on credit card costs.

Product NameBank Australia Visa Credit Card
Purchase rate (p.a.)12.39% p.a.
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)12.39% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment2.5% or $20, whichever is greater
Card TypeVisa
Late Payment Fee$0
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$0 p.a.
Minimum Repayment2.5% or $20, whichever is greater
Late Payment Fee$0
Cash Advance Fee$3.50
Overseas Cash Advance Fee$3.50
Overseas Emergency Replacement$175
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$3.50
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
MailYes

Pros

  • Pay no annual fee for the life of the card.
  • This card has a low ongoing variable interest rate of 12.39% p.a. on purchases and cash advances.
  • Enjoy instant transfers between your Bank Australia savings account and credit card.
  • Pay your purchases using Apple Pay or Android Pay.

Cons

  • This card has no rewards program.
  • This card does not offer a balance transfer feature.

Bank Australia No Annual Fee Visa Credit Card review

The Bank Australia No Annual Fee Visa Credit Card is a low-cost product that offers a competitive alternative to credit cards provided by mainstream lending institutions. As a member-owned financial institution, Bank Australia is able to use profits to provide some of the most competitive rates and fees on the market.

The Bank Australia No Annual Fee Visa Credit Card offers the same low, variable interest rate of 12.39% p.a. for purchases and cash advances. It also offers interest-free days for purchases, has a $0 and provides access to Visa services such as Visa Checkout and Visa Entertainment.

Benefits of the Bank Australia No Annual Fee Visa Credit Card

  • No annual fee. The Bank Australia No Annual Fee Visa Credit Card has an annual fee of $0, meaning you pay no ongoing fee for this account.
  • Competitive interest rate. This credit card has a standard variable interest rate of 12.39% p.a. for all transactions, making it easier to calculate possible interest charges and manage your payments.
  • Interest-free period. If you pay your balance in full by the due date on each statement, you can enjoy up to 55 days interest-free on purchases.
  • Visa access. As this is a Visa credit card, you can use the Bank Australia Visa Credit Card in-store, online or at ATMs around the world, anywhere Visa is accepted.
  • Visa benefits. The Bank Australia No Annual Fee Visa Credit Card allows you to tap-and-go for purchases under $100 with Visa PayWave. It also provides added security for online shopping with Visa Checkout, and gives you access to ticket offers and competitions through Visa Entertainment.
  • Mobile payments. This credit card is compatible with both Apple Pay and Android Pay, allowing you to make payments straight from your mobile phone or device.

Features of the Bank Australia No Annual Fee Visa Credit Card

  • Cash advance fee. If you use the Bank Australia Visa to get money from an ATM or for another cash advance transaction, a fee worth $3.50 of the total will apply. Note that cash advances also aren't eligible for any interest-free days, so you'll pay interest from the time the transaction is made.
  • Overseas ATM withdrawal fee. If you use the Bank Australia Visa to get cash out overseas, a fee of $3.50 will apply. This is in addition to the cash advance fee.
  • Currency conversion fee. A fee of 3% applies for transactions made overseas or online in a foreign currency.
  • Security features. The Bank Australia No Annual Fee Visa Credit Card offers 24/7 fraud monitoring and a zero liability policy to help keep your account safe.

How to apply for the Bank Australia No Annual Fee Visa Credit Card

Applying for the Bank Australia No Annual Fee Visa Credit Card is easy and can be done online via a secure webpage. Before applying, make sure you meet the eligibility requirements and have all the required documents and details on hand to help speed up the process.

Eligibility criteria

  • Age. You must be over the age of 18.
  • Residency status. You must be an Australian citizen or a permanent Australian resident.
  • Income and credit history. You must earn a regular income and must not have ever been bankrupt.

Required documents

  • Personal information. This includes your full name, residential address, email address and contact number. If you aren't an existing Bank Australia customer, you'll also need to verify your identity online using your driver's licence, a Medicare card or passport.
  • Employment information. This includes your employer's name and contact details, and the length of time you've been there.
  • Financial information. This includes your salary information, as well as any other income you have from shares, rental property or anywhere else. You'll also need to inform Bank Australia of your existing loan balances, repayment amounts, as well as your credit card or overdraft limits.

The Bank Australia No Annual Fee Visa Credit Card offers both no annual fee and a low, ongoing variable rate for purchases and cash advances. As there are other no annual fee cards that offer more additional features, make sure you compare a range of options before you apply so that you can choose a card that's right for you.

Back to top
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

47 Responses

  1. Default Gravatar
    RuthMay 27, 2017

    Is there a transaction limit on Bank Australia’s Visa Credit Card?

    • Staff
      JasonMay 27, 2017Staff

      Hi Ruth,

      Thank you for your enquiry.

      There is a daily transaction limit on the Visa Credit Card of Bank Australia. A daily transaction limit of $1,000 for ATM/EFTPOS cash withdrawal applies. For Internet banking, a daily transaction limit of $50,000 applies for both internal transfers and Bill Pay and a daily transaction limit of $10,000 for both external and international transfers. However, you may apply to increase any of these limits at any time.

      I hope this helps.

      Kind regards,
      Jason

  2. Default Gravatar
    rayNovember 17, 2016

    Can I pay off another card with it?

    • Staff
      MayNovember 18, 2016Staff

      Hi Ray,

      Thanks for your question.

      Are you referring to using a credit card in paying off your credit card account bill with Bank Australia? If so, you will need to contact BA directly to help you in setting up an electronic payment for your account.

      Cheers,
      May

  3. Default Gravatar
    MrbossOctober 18, 2015

    I would like a visa?

    • Staff
      ArraOctober 19, 2015Staff

      Hi Mrboss,

      Thanks for your inquiry.

      You may like to refer to this page for more Visa credit card options.

      I hope this has helped.

      Cheers,
      Arra

  4. Default Gravatar
    gailMay 26, 2015

    Hi,
    Can you please clarify whether or not there are interest free days with your card. I intend to pay full balance on the due date. The wording in your information is quite confusing as it refers to 55 interest free days and no interest free days.
    Kind regards gail

    • Staff
      JonathanMay 27, 2015Staff

      Hi Gail, thanks for your inquiry and taking the time out to let us know about the wording.

      There are up to 55 days interest free on purchases available with this credit card.

      Cheers,

      Jonathan

  5. Default Gravatar
    FrancisMay 9, 2015

    Why is this card not listed on your ‘No Annual Fee’ or Low Interest Rate’ card types? The Me Bank MC is also not listed in these and it has one of the lowest rates without being a balance transfer option. For a comparison service, why are you leaving out these products?. Are there any other credit cards that have no annual fee and interest under 15% that are not listed or do I have to got through the card providers one by one?

    • Staff
      ElizabethMay 13, 2015Staff

      Hi Francis,

      Thanks for your question.

      We aim to provide a comprehensive review of credit cards in the Australian market, which is the purpose of our review pages. Unfortunately having each and every credit card in the Australian market, due to the sheer number, isn’t a possibility in our comparison tables, which is why we have all the details available on our credit card review pages and provider pages so you can have all the information at your disposal and use it to come to a decision.

      I hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    RodFebruary 20, 2015

    are age pensioners eligible for the visa credit card ?

    • Staff
      JonathanFebruary 20, 2015Staff

      Hi Rod, thanks for your inquiry!

      If you meet application requirements you will be eligible for Bankmecu’s Visa Credit Card.
      The application requirements are as follows;
      Have a good credit rating.
      Be over the age of 18.
      Be a permanent Australian resident.
      You must currently earn a regular income.

      Cheers,

      Jonathan

  7. Default Gravatar
    August 16, 2014

    hello,
    I have been studying credit cards for over 2 weeks now and have come across the Bankmecu visa cards.
    As I’m currently on Disability Pension can I apply for one of your low rate cards? I have a Visa card with another bank and it’s annual fee and other fees are extremely high, can I do a Balance Transfer to the Bankmecu Visa if I’m accepted?

    • Staff
      ShirleyAugust 18, 2014Staff

      Hi Tony,

      Thanks for your question.

      These type of applications are handle on a case by case basis. I’d recommend speaking to bankmecu directly without making and formal applications to enquire about your eligibility.

      In terms of a balance transfer, currently this card doesn’t have one.

      If you’d like, you can compare balance transfer cards on this page.

      Cheers,
      Shirley

  8. Default Gravatar
    CarylJuly 22, 2014

    Does your credit union allow joint holders of the one credit card. I want to apply for one credit card with 4 family members.

    • Staff
      ShirleyJuly 23, 2014Staff

      Hi Caryl,

      Thanks for your question.

      Unfortunately the bankmecu Visa card doesn’t offer joint applications. However, you can have additional cardholders linked to the account.

      Cheers,
      Shirley

  9. Default Gravatar
    AnnApril 11, 2014

    What is the late payment fee on the Bankmecu Visa Credit Card?

    • Staff
      JacobApril 11, 2014Staff

      Hi, Ann.

      There is currently no late payment fee for this product.

      Thanks for your question.

  10. Default Gravatar
    MarilynMarch 4, 2013

    If travelling overseas, what are the charges for drawing cash from your credit card, or would you use a debit card to do this? Is mecu debit card user friendly overseas? Basically I want to know the cheapest way of getting cash in a foreign country whilst travelling.
    Regards
    Marilyn

    • Staff
      MarcMarch 5, 2013Staff

      Hello Marilyn,
      thanks for the question.

      When travelling overseas with a credit card there are generally fees for making purchases and fees for withdrawing money from an ATM. This page compares the different fees for making overseas transactions for different institutions as well as the ATM fees which may be applicable. Bankmecu debit cards have a charge of $5 or 1% of the transaction, whichever is greater.

      This article might also be useful, it compares travel cards and debit cards, which are other options to take overseas when travelling.

      I hope this helps.

Credit Cards Comparison

Rates last updated July 25th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - Exclusive Offer
Apply by 31 July 2017 to earn bonus Velocity Points for the first three months and a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback