Enjoy an introductory interest rate of 0% p.a. for 6 months on purchases and balance transfers, 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 interest rate of 12.94% p.a. (variable) for purchases, cash advances and balance transfers.
| Product Name | Bank First Visa Classic Credit Card |
|---|---|
| Balance transfer rate | 0% p.a. for 6 months |
| Balance transfer revert rate The interest rate after the balance transfer ends. | Standard Balance Transfer Revert Rate (12.94% p.a.) |
| Purchase rate (p.a.) | 0% p.a. for 6 months (reverts to 12.94% p.a.) |
| Offer end date | 28 June 2019 |
| Annual fee | $0 p.a. |
| Interest Free Period The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date. | 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. | $2,000 |
| Max credit limit This credit limit may not be issued to you immediately upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. | $10,000 |
| Card Type | Visa |
| Complimentary Travel Insurance | No |
| Minimum Age | 18 years of age |
|---|---|
| Available To Temporary Residents | No |
| Joint Application | 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 |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 |
Pros
- 0% p.a. on purchases and balance transfers for 6 months
- $0 annual fee for the life of the card
- Low variable interest rate of 12.94% p.a. on purchases, cash advances and balance transfers
Cons
- This card does not offer a rewards program or any premium perks.
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:
- 0% p.a. for 6 months. Enjoy an introductory interest rate of 0% p.a. for 6 months for purchases and balance transfers when you apply by 28 June 2019. After this period, the variable interest rate of 12.94% p.a. will apply to any remaining balance.
- 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 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. Outside of any promotions, the Bank First Visa Classic Credit Card charges a variable interest rate of 12.94% p.a., which applies to standard purchases, cash advances and balance transfers.
- 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 0% 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.
Eligibility criteria
- 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.
Required documents
- 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.
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Hi there,
Do you earn rewards points on this credit card?
Hi Denise,
Thanks for your inquiry,
Unfortunately there is no rewards program compatible with the Victoria Teachers Visa Credit Card at the moment. For a list of rewards cards please refer to this page.
I hope this helps!
Cheers,
Jonathan
what is $500.00 limit
does it mean you can spend $500.00 at one purchase
Hi Lucy,
Thanks for your question!
The $500 amount 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. For more information about credit limits please see this page.
I hope this has helped!
Cheers,
Jonathan