Enjoy a low ongoing interest rate, a $0 annual fee and up to 55 days interest-free on purchases with the Bank First Visa Classic.
This credit card is designed to help you save money on credit card rates and fees, with a competitive standard interest rate of 12.94% p.a. (variable) for purchases, cash advances and balance transfers.
|Product Name||Bank First Visa Classic Credit Card|
|Purchase rate (p.a.)||12.94% 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.)||12.94% 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.
|Max credit limit|
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$0 p.a.|
|Minimum Monthly Repayment||5% or $20, whichever is greater|
|Late Payment Fee||$20|
|Cash Advance Fee||$2.50|
|Overseas Cash Advance Fee||$2.50|
|Overseas ATM Withdrawal Fee||$2.50|
|Foreign Currency Conversion Fee|
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.
|Gambling Transactions Allowed||No|
|Additional Cardholder Fee||$0|
- $0 annual fee for the life of the card.
- The same 12.94% p.a. interest rate on purchases, balance transfers and cash advances.
- This card does not offer a rewards program or any premium perks.
Review of the Bank First Visa Classic Credit Card
This low-cost credit card offers ongoing features that can help you save money on credit card debts and fees. The Bank First Visa Classic is one of the few cards that offer a low standard variable interest rate for all balances at 12.94% p.a. This means you'll only have to deal with one interest rate when you use this card for purchases, balance transfers and cash advances, which can make it easier to manage your account and keep interest charges to a minimum.
Benefits and features of the Bank First Visa Classic
Here are some of the highlights of what you can get with the Bank First Visa Classic:
- No annual fee. The Bank First Visa Classic can help you save on account costs with a $0 annual fee and no monthly account fees.
- Up to 55 days interest-free on purchases.If you pay your account in full by the due date on each statement, you can enjoy an interest-free period of up to 55 days for new purchases. Please note interest-free days do not apply for for cash advances and balance transfers.
- Visa benefits. This card can be used all around the world, anywhere Visa is accepted. You can also tap-and-go at the checkout for payments under $100 and enjoy exclusive ticket and lifestyle offers through Visa Entertainment.
Rates and fees for the Bank First Visa Classic
Make sure you compare these costs to decide if this card is right for you:
- Interest rate. The Bank First Visa Classic Credit Card has an ongoing variable interest rate of 12.94% p.a. This rate applies to standard purchases, cash advances and balance transfer debts you can on the card.
- Minimum credit limit. This card offers credit limits from $2,000. Note that your individual credit limit is based on lending criteria and subject to approval.
- Minimum repayment. If you have debt on your card, you must pay at least 5% by the due date on your statement. Please note that you must make at least the minimum payment even if an introductory 12.94% p.a. interest rate applies to your balance.
- Currency conversion fee. If you use this card to make purchases overseas or online with an international retailer, you'll pay a fee worth 2.5% of the total transaction cost.
How to apply for the Bank First Visa Classic Credit Card
You can apply for the Bank First Visa Classic Credit Card online in a few minutes. A friendly consultant from the loans department will contact you within 48 hours of your online credit card application being completed. Before getting started, make sure you meet the eligibility requirements and have all the details and documents you'll need for the application.
- Are you at least 18 years old? You must be at least 18 years of age to apply for a credit card in Australia.
- Do you live in Australia? You must be a current resident of Australia. You may also need to provide details of your citizenship or residency status to complete your application.
- Personal information. This includes your full name, residential address, phone number, email address and driver's licence number.
- Employment details. This includes your salary, current job title and your employer's contact information. You may also need to supply recent payslips or ATO statements that show your income.
- Other financial details. You'll need to provide details of any other income, investments or savings accounts. You'll also need to share information about any existing debts or credit accounts such as loans and cards.
- Balance transfer information. The application includes a "Balance Transfer Request" section that you'll need to fill out if you want to enjoy the introductory balance transfer offer. This means you'll need to provide details of the account you want to transfer debt from.
If the Bank First Visa Classic Credit Card is approved, it will be issued in 7 working days. Approval could also take up to 4 working days in school holidays.