Bank First Visa Platinum Card Review

Looking for a platinum credit card with a low ongoing rate?

The Bank First offers a 9.99% p.a. interest rate on purchases and balance transfers. Plus, complimentary international travel insurance and a 24/7 platinum concierge service.

Product NameBank First Visa Platinum Credit Card
Maximum Balance Transfer AmountUp to available credit limit
Purchase rate (p.a.)9.99% p.a.
Annual fee$99 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.)19.99% 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.
$6,000
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.
$10,000
Minimum Monthly Repayment5% or $20, whichever is greater
Card TypeVisa
Late Payment Fee$20
Complimentary Travel InsuranceYes
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.
$6,000
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.
$10,000
Annual Fee$99 p.a.
Minimum Repayment5% or $20, whichever is greater
Late Payment Fee$20
Over Limit Fee$12
Cash Advance Fee$2.50
Overseas Cash Advance Fee$2.50
Overseas Emergency Replacement$0
Overseas ATM Withdrawal Fee$2.50
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailNo

Pros

  • A low ongoing interest rate of 9.99% p.a. on purchases and balance transfers
  • Up to 55 days interest-free on purchases

Cons

  • No rewards program linked to this card

Bank First Visa Platinum Credit Card review

If you want a platinum credit card but don’t want to pay more for a rewards program, the Platinum Visa from the Bank First is worth considering. This card charges a low 9.99% p.a. rate on purchases as well as balance transfers to help you keep your debt manageable. As a platinum cardholder, you get round-the-clock access to a platinum concierge service, and international travel insurance is included. You are also privy to a number of offers through Visa Entertainment.

Benefits of the Bank First Visa Platinum Credit Card

  • Platinum concierge service. You can turn to a 24/7 global platinum concierge service for assistance in different ways. This service can help you book tickets for events, it can assist you in making travel plans, you can use it to reserve tables at restaurants and much more.
  • Overseas travel insurance. Complimentary international travel insurance can provide cover for overseas medical expenses, emergency dental expenses, flight cancellations, travel delays, missed connections, mugging, accidental death, and various other unforeseen events that can occur when travelling.
  • Low purchase rate. The Bank First Visa Platinum card charges 9.99% p.a. interest on purchases and for balance transfers. This is relatively low compared to other platinum cards on the market.
  • Platinum entertainment. This service gives you the ability to get front section seats to some of the most popular events and concerts, and you can even get backstage access.

Features of the Bank First Visa Platinum Credit Card

  • Annual fee. You have to pay $99 as the card’s annual fee, but you don’t have to pay this fee if you’re a Rewards Package customer.
  • Low ongoing rate. This platinum card charges a low ongoing rate of 9.99% p.a. This rate applies to purchases and balance transfers, but not to cash advances.
  • Standard balance transfers. You can use this card to transfer balances from existing cards, and transferred balances attract the card’s 9.99% p.a. purchase rate.
  • Interest-free days. This card lets you to get up to 55 interest-free days on purchases if you pay the account’s closing balance in full each month.
  • Complimentary insurance. When you use this card to book international travel tickets, you receive complimentary insurance that provides you with cover while you travel.
  • Additional cardholders. You can get an additional card for any nominated individual over 18 years of age.
  • Credit limit. The minimum credit limit for this card is $6,000.

How to apply for the Bank First Visa Platinum Credit Card

Applying online takes no more than a few minutes, you can download an application, you can apply over the phone, or you can apply by visiting any Bank First service centre.

Eligibility criteria

Bank First requires that you meet the following minimum criteria to be eligible for this card:

  • You must be at least 18 years old
  • You need to be a resident of Australia

Required documents

The application process requires you to provide different types of information, so make sure you have the following on hand:

  • Personal and identification details such as your name, contact information and driver's licence number
  • You employment status and your net income
  • You'll need to indicate whether you receive any government benefits or pensions, and also indicate your assets, debts and liabilities.

While this platinum card charges a low ongoing rate on purchases, it’s not the only card of its kind. Take some time to compare it with similar offerings before thinking about applying.

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Credit Cards Comparison

Rates last updated December 13th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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* 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.

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