Finder makes money from featured partners, but editorial opinions are our own.

Our verdict

Pay no annual fee and save with a low introductory interest rate for the first 6 months.

With no annual fee and a low introductory rate, the BankVic Low Rate Visa credit card is designed to help you cut standard card costs. Unlike most cards with a low interest offer, the standard interest rate that applies after the first 6 months is relatively competitive. This means this card could help you save more if you’re planning to use it beyond the promotional period. However, there are some other cards that offer 0% on purchases and balance transfers for longer introductory periods, so it’s worth comparing your options.

Pros

$0 p.a. annual fee for life
Introductory 8.99% p.a. interest rate for the first 6 months on purchases and balance transfers
Compatibility with Apple Pay and Google Pay

Cons

Only up to 44 days interest-free on purchases, as opposed to other cards that offer up to 55 days.
Doesn’t offer any rewards

The BankVic Low Rate Visa credit card boasts a bunch of cost-saving extras including a 8.99% p.a. interest rate for the first 6 months. After this, the low ongoing interest rate of 13.95% p.a. will apply. You’ll save with $0 annual fee and can take advantage of exclusive perks for Visa cardholders.

Details

Product details

Product Name	BankVic Low Rate Visa
Balance transfer rate p.a.	8.99% for 6 months, then 13.95%
Balance transfer limit	95% of available limit
Purchase rate p.a.	8.99% for 6 months, then 13.95%
Interest-free period	Up to 44 days on purchases
Cash advance rate p.a.	13.95%
Min credit limit	$1,000
Max credit limit	$20,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$0
Minimum monthly repayment	2.5% of the closing balance or $20, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3.65%
Overseas cash advance fee	$4

How to apply

You can apply for the BankVic Low Rate Visa credit card online in around 30 minutes. Before you get started, check if you meet the eligibility criteria and prepare the necessary details to complete the application.

Eligibility criteria

Credit history. You’ll need a good credit score and must not have declared bankruptcy, insolvency or defaulted on any other lines of credit.
Residency. This card is only available to permanent Australian residents.

Age. You must be at least 18 years old to apply.

Required documents

Personal information. This includes your full name, contact details, date of birth, driver’s license number, marital status and number of dependents.
Employment. You’ll need to confirm your employment status and occupation as well as your employer’s name, phone number and address.
Finances. Provide details about your income, expenses, assets and liabilities. You may be asked to provide copies of recent payslips, bank statements and credit card or personal loan statements.
Balance transfer. If you’re conducting a balance transfer, you’ll need to provide details of how much you’re transferring and the account you’re moving it from.

Card benefits

No annual fee. This card charges $0 annual fee for life.
Introductory low rate offer. You can reduce your interest costs on purchases and balance transfers with a low fixed rate of 8.99% for the first 6 months. After the introductory period, all balances will attract the standard 13.95% p.a. interest rate.

Visa perks. You can use this card at millions of locations wherever Visa is accepted. This includes for contactless payments under $100 courtesy of Visa payWave. You’ll also access exclusive travel, entertainment and lifestyle discounts and deals through Visa Offers and Perks.
Mobile wallets. You can link your card with Apple Pay or Google Pay and use your eligible smartphone or device to tap and pay.

Rates & fees

Low rate. Outside of any promotions, this card charges a low ongoing interest rate of 13.95% p.a. on purchases, balance transfers and cash advances.
Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 44 interest-free days on purchases. You won’t be eligible for interest-free days if you’re paying off a balance transfer debt.

Credit limit. You can apply for a credit limit between $1,000 and $20,000.
Security. Your account is monitored 24/7, so you’ll be notified of any suspicious activity as early as possible.

BankVic Low Rate Visa credit card TMD

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Sally Finder

Producer

Hi there, looking for more information? Ask us a question.

You are about to post a question on finder.com.au:

Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
finder.com.au is a financial comparison and information service, not a bank or product provider
We cannot provide you with personal advice or recommendations
Your answer might already be waiting – check previous questions below to see if yours has already been asked

Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Sally McMullen was a creative content producer at Finder. Sally wrote 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. See full profile

BankVic Low Rate Visa credit card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Your reviews

Important information about this website

Advertiser Disclosure

How we make money

Sorting and Ranking Products

Terms of Service and Privacy Policy