BankVic Visa Gold credit card

Pay a low interest rate of 6.99% on balance transfers and purchases for the first 6 months and reward your spending with cash rewards.

You can use the BankVic Visa Gold credit card to save whether you’re paying off an existing debt or making new purchases. New customers can take advantage of an introductory interest rate on balance transfers and purchases for the first 6 months. This card is also linked to a cashback rewards program that rewards you with $1 for every $250 you spend. These features come at the cost of a competitive $50 annual fee.

Sally McMullen

Last Updated May 21, 2021

6.99% p.a.

Balance transfer rate

for 6 months

6.99% p.a.

Purchase rate

for the first 6 months (reverts to 16.95% p.a.)

$50 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	BankVic Visa Gold
Balance transfer rate	6.99% p.a. for 6 months
Balance transfer revert rate	Purchase Rate (16.95% p.a.)
Purchase rate	6.99% p.a. for 6 months, reverts to 16.95% p.a.
Annual fee	$50
Interest-free period	Up to 55 days on purchases
Cash advance rate	16.95% p.a.
Min credit limit	$5,000
Max credit limit	$30,000
Card type	Visa
Foreign currency conversion fee	3.65%

Available to temporary residents	No
Joint application	No

Pros

Charges a competitive annual fee of $50
6.99% p.a. on purchases and balance transfers for the first 6 months
Comes with international travel insurance and a 24/7 access to online and phone banking services

Cons

Other cards offer 0% on balance transfers or purchases for longer introductory periods

Bonus points	N/A

Annual fee	$50
Minimum monthly repayment	2.5% of the closing balance or $20, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3.65%
Cash advance fee	$4
Overseas cash advance fee	$4
Number of additional cardholders	1

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The BankVic Visa Gold credit card combines cost-saving features with cashback rewards. However, there are other cards offering 0% on balance transfers or purchases for longer introductory periods, so you should make sure to compare your options.

You’ll get $1 cashback for every $250 you spend, so how rewarding this card is will depend on your budget. You’ll get the most value from your card and the cashback rewards if you’re repaying your balance in full each month to avoid interest.

How to apply

You can apply for the BankVic Visa Gold credit card online in around 5 minutes as long as you meet the eligibility criteria and have the necessary details to complete the application.

Eligibility criteria

Credit history. You must have a good credit history with no evidence of bankruptcy, insolvency or defaults in the last five years.
Age. You must be at least 18 years old to apply.

Residency. This card is only available to Australian residents.

Required documents

Personal information. This includes your full name, date of birth, your contact details, the number and age of your dependents and your driver's license number.
Employment. You'll need to confirm your employment status, occupation as well as your employer's name and contact information.
Finances. You'll need to confirm your income and provide details regarding your income, expenses, assets and liabilities. You may be asked to provide copies of recent payslips, bank statements and statements for existing cards or personal loans.

Card benefits

Introductory interest rate. You can save with an introductory 6.99% interest rate on purchases, balance transfers and cash advances in the first 6 months. After this, any remaining balances will attract the standard 16.95% p.a. interest rate.
Cash rewards program. You can earn $1 in cash rewards for every $250 you spend using your card. The cashback rewards will be debited to your account, where you can use them to shop wherever EFTPOS transactions are accepted.

Complimentary insurance covers. You can travel with peace of mind thanks to complimentary overseas travel insurance and car rental insurance. Terms, conditions and eligibility requirements apply.
Mobile wallets. You can link your card with Apple Pay or Google Pay to make contactless payments with your eligible smartphone or device.
Visa payWave. You can use your Visa card to make contactless payments under $100.
Card security. Your online shopping transactions are protected by Verified by Visa.

Rates & fees

Annual fee. The BankVic Visa Gold credit card charges a $50 annual fee.
Interest-free days. When you pay your balance in full by the statement due date, you can make use of up to 55 interest-free days on purchases.

Additional cards. You can ask for one additional card for any individual over 15 years of age. As the primary cardholder, you will remain liable for any transactions made using this card.
Credit limit. This card offers credit limits between $5,000 and $30,000. The credit limit you're approved for will depend on the bank's lending criteria and your financial history.

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BankVic Visa Gold credit card