BankSA No Annual Fee Card – Rates and Fees

Get your debt under control with 0% p.a. on balance transfers for 12 months and no annual fee with BankSA No Annual Fee credit card.

The BankSA No Annual Fee Card is a no-frills Visa card suited to people who want to pay off existing debt and cut costs with no annual fee.

When you apply by 2 October 2019, you can take advantage of interest-free balance transfers for 12 months. Plus, you can apply for credit limits starting from $500 and save with up to 55 interest-free days on purchases.

Product NameBankSA No Annual Fee
Balance transfer rate0% p.a. for 12 months with 1% balance transfer fee
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.) 20.74% p.a.
Offer end date2 October 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.)21.49% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$500
Max credit limit
This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application.
$40,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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.
3% of transaction value
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationYes
Annual fee$0 p.a.
Minimum Monthly Repayment2% or $10, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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.
3% of transaction value
Cash Advance Fee2% of each cash advance amount (minimum of $2.50 capped at $150 per transaction)
Overseas Cash Advance Fee2% of each cash advance amount (minimum of $2.50 capped at $150 per transaction)
Gambling Transactions AllowedYes
Additional Cardholder Fee$0
Number of Additional Cardholders3

Pros

  • $0 annual fee for the life of the card.
  • This card comes with a balance transfer offer of 0% p.a. for 12 months.
  • You can add up to 3 additional cardholders at no extra cost.

Cons

  • This card is not linked to any rewards programs.
  • There are high interest rates of 20.74% p.a. on purchases and 21.49% p.a. on cash advances.
  • A one-time 1% balance transfer fee applies.

Benefits of using a BankSA No Annual Fee Card

  • No annual fee. This card charges a $0 annual fee.
  • 0% balance transfer offer. When you apply by 2 October 2019, you can repay your debt and pay no interest with 0% p.a. on balance transfers for 12 months. At the end of the promotional period, any remaining debt will attract the 21.49% p.a. cash advance rate. You can transfer up to 80% of your approved credit limit from up to 3 non-BankSA, Bank of Melbourne or St.George Australian-issued credit, charge or store cards.
  • Visa perks. You can use this card wherever Visa is accepted around the world. Plus, shop online with peace of mind thanks to Verified by Visa.
  • Additional cards. You can request up to 3 extra cards for the account. Additional cardholders must be at least 16 years old and the primary account holder is liable for any transactions made with the extra cards.

Features of the BankSA No Annual Fee Card

In addition to the usual yearly fee for a credit card being waived, there are some other points to note about this credit card.

  • Purchase interest rate. Your purchases will attract the 20.74% p.a. purchase interest rate.
  • Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days.
  • Cash advances. If you use your card for ATM withdrawals and other cash advances, you'll attract the 21.49% p.a. interest rate. You'll also be charged 2% of each cash advance amount (minimum of $2.50 capped at $150 per transaction).
  • Foreign transaction fee. If you use your card to shop overseas or online with an international merchant, you'll be charged a 3% foreign transaction fee.
  • Credit limits. You can apply for a credit limit ranging between $500 and $40,000.

How to apply for the BankSA No Annual Fee Card

You can apply for the BankSA No Annual Fee credit card online in 10 minutes and receive a response instantly. Before you get started, check if you meet the eligibility criteria and have the necessary documents to complete the application:

Eligibility criteria

  • Age. You must be at least 18 years old.
  • Residency. This card is only available to permanent Australian residents.

Details and documents to submit

  • Personal details. This includes your full name, date of birth, residential address, contact details, marital status and number of financial independents.
  • Proof of identification. You'll be asked to verify your identity with an Australian driver's licence, Medicare card, passport, Australian birth certificate or NSW photo card.
  • Income and employment. Confirm your annual income with recent payslips. You'll also need to include your current place of employment and your employer's contact details.
  • Finances. List any assets, such as investments or savings and any liabilities like existing debt.
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2 Responses

  1. Default Gravatar
    IanApril 24, 2013

    can this card be over drawn by someone else like hackers if my limit is $500

    • Avatarfinder Customer Care
      JacobApril 25, 2013Staff

      Hi Ian. Technically yes. Generally you can only overdraw your account by a small amount, if at all. If you’re a victim of fraud, you can get your money back under the card scheme’s no liability policies. Thanks for your question. Jacob.

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Rates last updated May 26th, 2019
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