BankSA No Annual Fee Card – Rates and Fees

With a credit card that carries no annual fee and low introductory offer on balance transfers, you can save your money for those times when you need it the most.

The BankSA No Annual Fee Card is a simple Visa with a generous credit limit. This can be put to good use for those financial surprises that often arise. This is the type of card you might want to have for those sudden expenses, like when your car suddenly needs repairs.

For individuals who think they would save more with low interest card option, BankSA has the Vertigo card. For a small annual fee of $0, you are rewarded with a limited time offer of 0% p.a. on balance transfers for 12 months when you apply by 23 January 2019.

Product NameBankSA No Annual Fee Visa
Balance transfer rate (p.a.)0% p.a. for 12 months with 1% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (20.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.49% p.a.
Offer end date23 January 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.)20.49% 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.
$500
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.
$40,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
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.
3% of transaction value
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationYes
Annual fee$0 p.a.
Minimum Monthly Repayment2% or $10, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (VISA)
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.
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

  • Absolutely $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 does not have any rewards programs or benefits.
  • There is a high interest rate of 20.49% p.a. on purchases and cash advances.
  • A one-time 1% balance transfer fee applies.

Benefits of using a BankSA No Annual Fee Card

  • No annual fee. There are no charges billed to your credit card on a yearly basis for as long as the account remains open.
  • Balance transfer offer. This card comes with a balance transfer offer of 0% p.a. for 12 months (20.49% p.a. thereafter). This offer is valid for customers who apply by 23 January 2019. A one-time 1% balance transfer fee applies and after the promotional period, any remaining balances accrue interest at the cash advance rate.

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.

  • Lifetime free. Unlike other cards where no annual fee is only offered for the first year, with this one it is for the life of your card. Be free of yearly billings while still enjoying the convenience of holding a credit card.
  • Purchase interest rate. The interest rate for purchases made with the card is 20.49% p.a.
  • Credit limit. Credit limits start at $500, and no matter how high the BankSA offers you, you won't be charged for the use of that credit or the card. Save it for a rainy day purchase without worrying about it accumulating fees for services you don't need.
  • Additional cardholders. The BankSA No Annual Fee Card allows for up to 3 extra cardholders at no extra cost, so your entire family can have the security of credit when they need it.
  • Cash advances. Access cash through an ATM and pay 20.49% p.a. You will however be charged 2% of each cash advance amount (minimum of $2.50 capped at $150 per transaction). This includes transfers made using internet and phone banking.
  • Interest-free period. Up to 55 days interest-free on purchases is offered with the No Annual Fee card.
  • Foreign transactions. For any transaction that involves the conversion of currency to the Australian dollar, your card will be charged 3% of the Australian dollar value.
  • Late repayments. For any missed or late repayment, your card will be charged $15.
  • Card replacement. For a card replacement inside of Australia, you will be charged $15 or $45 if you need it replaced urgently. For the replacement of your card outside of Australia, the charge will be $52.50.

How to apply for the BankSA No Annual Fee Card

BankSA offers the convenience of applying for this card online. Before starting, make sure you meet these eligibility requirements:

Eligibility criteria

  • BankSA will only consider applications from individuals who are at least 18 years of age.
  • Permanent residents and citizens of Australia are welcome to apply.

Required documents

  • Your driver's license number will be needed to complete the application.
  • BankSA will ask that you provide details regarding your weekly after tax earnings.
  • Any assets such as investments and savings that you have will also be taken under advisement.
  • Credit card and loan debts will have to be disclosed. Be ready with detailed information about your balances and available credit.
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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

    • finder 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.

Credit Cards Comparison

Rates last updated November 16th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
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0% p.a. for 13 months (reverts to 20.99% p.a.)
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$49 p.a. annual fee for the first year ($149 p.a. thereafter)
finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
Virgin Australia Velocity Flyer Card - Exclusive Offer
0% p.a. for 14 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Save on credit card costs with half the annual fee for the first year and a 0% p.a. interest rate on purchases for 14 months.
American Express Westpac Altitude Platinum Bundle - Qantas - Exclusive Offer
20.24% p.a.
$50 p.a. annual fee for the first year ($249 p.a. thereafter)
finder Exclusive:
Up to 90,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).

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