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 Name | Bank Australia No Annual Fee 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 Repayment | 2.5% or $20, whichever is greater |
| Card Type | Visa |
| 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. | 2% of transaction value |
| Complimentary Travel Insurance | No |
| Available To Temporary Residents | No |
| Joint Application | No |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | No |
| 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 Repayment | 2.5% 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. | 2% of transaction value |
| Gambling Transactions Allowed | No |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Yes |
Pros
- There is $0 annual fee, so this card will cost you nothing to use if you pay your balance.
- This card has a low ongoing variable interest rate on purchases and cash advances of just 12.39% p.a.
- 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 2% 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.
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Is there a transaction limit on Bank Australia’s Visa Credit Card?
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
Can I pay off another card with it?
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
I would like a visa?
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
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
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
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?
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
are age pensioners eligible for the visa credit card ?
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
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?
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
Does your credit union allow joint holders of the one credit card. I want to apply for one credit card with 4 family members.
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
What is the late payment fee on the Bankmecu Visa Credit Card?
Hi, Ann.
There is currently no late payment fee for this product.
Thanks for your question.
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
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.