bcu Classic Credit Card – Rates and Fees

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  • Once approved, you will typically receive your credit card within 1-2 weeks
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Save on credit card costs with interest-free days and a low interest rate on the bcu Classic Credit Card.

The bcu Classic Credit Card is designed to provide affordable access to credit, with a low standard variable interest rate for both purchases and cash advances. It also offers worldwide acceptance through the Visa network, interest-free days on purchases and features a $45 annual fee.

Product Namebcu Classic Credit Card
Purchase rate (p.a.)11.80% p.a.
Annual fee$45 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)14.80% 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 on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$20,000
Minimum Monthly Repayment3% of the closing balance or $10, whichever is greater
Card TypeVisa
Late Payment Fee$0
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.
3.65% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationYes
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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 on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$20,000
Annual Fee$45 p.a.
Minimum Repayment3% of the closing balance or $10, whichever is greater
Late Payment Fee$0
Over Limit Fee$20
Overseas Emergency Replacement$300
Overseas ATM Balance check$1
Overseas ATM Withdrawal Fee$1
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.
3.65% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders2
BPAYYes
ChequeYes
Phone BankingYes
Internet Banking TransfersYes
MailYes

Pros

  • A low standard variable interest rate of 11.8% p.a. on purchases
  • Up to 55 days interest-free on purchases
  • Comes with 24-hour fraud monitoring

Cons

  • Not linked to any rewards program
  • Does not feature any introductory offers on purchases or balance transfers

bcu Classic Credit Card review

The bcu Classic Credit Card is a basic credit card with a low interest rate of 11.8% p.a. for purchases. It also offers up to 55 days interest-free on purchases. As a Visa option, this credit card allows you to make tap-and-go payments at the checkout through Visa payWave and can be used at millions of merchants all around the world – anywhere Visa is accepted. It also features 24-hour fraud monitoring to help keep your account secure.

Benefits of the bcu Classic Credit Card

  • Up to 55 interest-free days. This card offers up to 55 days interest-free on new purchases. To take advantage of this feature, make sure you pay your closing balance in full at the end of your statement period.
  • Competitive variable rate. This card has a low interest rate of 11.8% p.a. on purchases and 14.8% p.a. on cash advances.
  • Online security: Verified by Visa (VbV). Verified by Visa adds an additional layer of security for bcu members who use their bcu Visa debit or credit cards to make purchases online. This free service is automatically provided to all existing and new bcu Visa cardholders.
  • Visa payWave. Save time at the checkout with tap-and-go payments that don't require a PIN for purchases under $100.
  • Additional cardholders.You may nominate up to 2 other people over the age of 16 to be an additional cardholder. Any additional cardholder must also be a member of bcu.

Features of the bcu Classic Credit Card

  • Credit limits. This card offers credit limits of between $500 and $20,000. Note that individual credit limits are subject to bcu’s lending criteria and application approval.
  • Annual fee. A fee of $45 is billed to the card each year.
  • Overlimit fee. If you go over your credit limit on this card, a fee of $20 will be applied.
  • Foreign transaction fee. If you use your credit card to make payments in another currency, a fee worth 3.65% of the total transaction will be applied.
  • Online banking. The bcu iBank service lets you manage your money from home, work or on-the-go from either a computer or mobile device.

How to apply for the bcu Classic Credit Card

Applying for the bcu Classic Credit Card is simple and takes around 10-15 minutes online. Before you apply, make sure you meet the application requirements for this card.

Eligibility criteria

  • You must be at least 18 years of age.
  • You must be an Australian citizen or permanent resident.
  • You must not have any outstanding defaults, judgements or be an un-discharged bankrupt.

Required documents

If you meet these requirements, you can start your application. You'll also need to provide the following information:

  • Personal information. This includes your full name, date of birth, Australian driver's license number, residential address, email address and phone number.
  • Employment details. This includes information about your current employment status, including your employer's name, contact number and address, as well as your previous employment status.
  • Financial details. This includes your salary and income from any other assets or dividends. You're also required to include information about financial commitments, such as mortgage payments, rent, other loans and cards and day-to-day expenses.
  • Credit limit. bcu requires you to submit a request for a specific credit limit when you apply. Make sure you the limit you request is reasonable based on your income and existing monthly expenses.
  • Additional cardholder. If you want to add someone else to your account, you'll need to provide personal information, including their name, email and phone number. Note that you will be liable for management of the account.

Once you have submitted your application, bcu will assess it based on its lending criteria. You should get a response on the same day if you submit your application during NSW business hours. A bcu representative will be in touch if any additional details are required.

If you're not already a bcu member, you will have to complete an identity verification process if you're approved. To complete this process, you may have to visit a bcu branch and provide identification documents such as your driver’s licence, birth certificate or passport. After that, you will be able to get your card and activate it so that you can start using it.

The bcu Classic Credit Card is a basic credit card that provides flexibility and affordability through its competitive standard rates and fees. Now that you know more about it, you can compare a range of options to find a card that suits your needs.

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