A low rate card that offers rewards as well as promotional rates on balance transfers and purchases
No longer offered in the market
The Bank of Sydney Classic Credit Card is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested.
The Bank of Sydney Classic Credit Card is a low rate card with a difference, as it gives you the lucrative benefit of letting you earn rewards for your spending.
It comes with a 0% p.a. promotional rate for 6 months on balance transfers, and it also charges a low rate on purchases for 6 months. Read more about the benefits from Bank of Sydney and their Classic Card offering below.
Bank of Sydney Classic Credit Card review
Not many low rate credit cards offer rewards, but the Classic Card provided by the Bank of Sydney does. By transferring balances from other cards and making use of this card’s balance transfer offer, you can save considerably in the form of interest, and a low purchase rate for the first 6 months can also lead to noticeable savings depending on how much you spend. You can also get up to 55 interest-free days on purchases, which is a definite plus.
Benefits of the Bank of Sydney Classic Credit Card
- Balance transfer offer. The Bank of Sydney Classic card comes with a 0% p.a. interest rate on balance transfers for the first 6 months. This gives you time to pay down your existing card debt while also taking on a competitive credit card offering.
- Introductory purchase rate. A low 6.99% purchase rate stays in place for the first 6 months, letting you to save in the form of interest while you spend on your card.
- Low rate. Following the end of the introductory period, this card charges a low ongoing rate on purchases. This rate currently stands at 11.99% p.a. This can lead to long-term savings if you have a balance in your account rolling over from one billing cycle to the next.
- Cash rewards. Use this card to make eligible purchases and earn cash rewards. You earn $4 for every $1,000 you spend, and these rewards don’t expire. You have to spend more than $5,000 each year to earn cash rewards.
Bank of Sydney Classic Credit Card features
- Annual fee. You have to pay a nominal annual fee of $49 for the life of the card.
- Credit limit. The minimum credit limit of the Bank of Sydney Classic Credit Card is $500.
- Rewards. The cash rewards you earn accumulate in a Bank of Sydney savings account linked to your credit card account. Your cash rewards never expire.
- Interest-free days. Cardholders can get as many as 55 interest-free days on purchases by paying their account's closing balances in full every month.
- Additional cardholders. You can request an additional card for any individual over 18 years of age, just remember the liability of making payments to the card remains with you. You don’t have to pay any additional card fee.
- Visa payWave. This technology is spreading quickly the world over, and your payWave-enabled card lets you make contactless payments of under $100 anywhere you see the payWave logo.
- Verified by Visa. This online service monitors your card’s online activity for unusual transactions, and upon detecting any it requests for some personal information to proceed.
- Easy access to funds. Owing to its Visa affiliation, you can use this credit card at any EFTPOS terminal or ATM that displays the Visa symbol, anywhere in the world. You can also use your Classic card to make purchases and pay bills over the internet and over the phone.