Bendigo Bank Low Rate First Credit Card
Enjoy low interest rates and fees with this Bendigo Bank credit card that's just for 18 to 25 year olds.
The Bendigo Bank Low Rate First Credit Card offers an interest rate of 11.99% p.a. for purchases, a $29 p.a. annual fee and mobile payments through Apple Pay, Google Pay or Samsung Pay.
Balance transfer rate
for 6 months
Interest free period
|Product Name||Bendigo Bank Low Rate First Credit Card|
|Balance transfer rate||0% p.a. for 6 months|
|Balance transfer revert rate||Purchase Rate (11.99% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||11.99% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||13.99% p.a.|
|Min credit limit||$500|
|Foreign currency conversion fee||3%|
|Available to temporary residents||Yes - Conditions apply|
- 0% p.a. for 6 months on balance transfers
- Low purchase rate of 11.99% p.a.
- Competitive annual fee of $29 p.a.
- No option for perks, rewards or extras
|Minimum monthly repayment||3% of the closing balance or $10, whichever is greater|
|Late payment fee||$15|
|Foreign currency conversion fee||3%|
|Cash advance fee||0.5% or $3.25, whichever is greater|
|Overseas cash advance fee||0.5% or $3.25, whichever is greater|
|Overseas ATM withdrawal fee||$5|
|Additional cardholder fee||$0|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
How to apply
You can apply for the Low Rate First Credit Card online by filling out a secure application form. Before you get started, make sure you meet the eligibility requirements and have all the details you need to complete your application.
- Age. You can apply for this card if you're between 18 and 25 years old.
- Residency. Permanent Australian residents and Australian citizens are eligible to apply. Temporary residents are eligible to apply as long as you have a 188, 457 or 489 visa, have applied for permanent residency and have at least 12 months remaining on the visa.
- Credit history. You can only apply for this card if you're not bankrupt or insolvent.
- Personal applications only. This card is only available for individuals, not companies.
- Personal details. This includes your full name, address and relationship status. You'll also need to provide ID in the form of your driver's licence, Medicare card or passport.
- Employment. This includes details of your employment status, salary and employer's contact details. If you're not employed, you can also provide details of your student status and income from other sources, such as Centrelink or scholarships.
- Finances. This includes how much you pay on bills, groceries, transport, education and other essential living expenses. You'll also need to provide details of any dependents, such as children.
- Balance transfer information. If you're planning to transfer a balance to the Bendigo Bank Low Rate First Credit Card, you will need to confirm how much you're transferring and provide details of the existing account.
- 0% balance transfer offer. You can take advantage of a 0% p.a. interest rate on balance transfers for 6 months with no balance transfer fee. Any remaining balance transfer amount will attract the standard purchase rate of 11.99% p.a. at the end of the introductory period.
- Low-cost credit card account. The Bendigo Bank Low Rate First Credit Card has an annual fee of $29 p.a. It also offers no additional cardholder fee if you want to share this account with a family member or partner. Just remember that you'll be responsible for all transactions, fees and charges on the account.
- Mobile payment technology. Make contactless payments from your mobile devices via Apple Pay, Google Pay, Samsung Pay, Fitbit Pay or Garmin Pay.
- Low interest rate. This card's 11.99% p.a. purchase rate could help you save on interest charges compared to the rates you'd pay with some other credit cards.
- Up to 55 days interest-free. With this card, you enjoy up to 55 days interest-free on your purchases each statement period. This means purchases made on the first day of your statement cycle are not charged interest for 55 days, those made on the second day get 54 days interest-free and so on. Note that when you carry a balance, interest will be charged from the statement date. Interest-free days also don't apply for cash advances.
- Account security. The Bendigo Bank Low Rate First Credit Card offers 24/7 fraud monitoring and no liability for unauthorised transactions.
- Unique interest calculations. When you use this card for purchases, interest charges will be calculated at the end of your statement period, instead of from the date you made a purchase. This means you'll get interest-free days even if you don't pay off your full balance, which can help you save on interest charges compared to other cards.
- Mastercard benefits. This card lets you make payments all over the world, anywhere Mastercard is accepted. You can also enjoy exclusive shopping, travel, entertainment offers through Mastercard Priceless Cities.
Rates & fees
- Cash advance interest rate. If you use the Low Rate First Credit Card for cash advance transactions such as ATM withdrawals, you'll pay an interest rate of 13.99% p.a. from the date of the transaction.
- Cash advance fee. If you use the Low Rate First Credit Card for cash advance transactions, a fee worth 0.5% of transaction amount or $3.25 (whichever is greater) will apply.
- Purchase rate. Your purchases will attract a 11.99% p.a. interest rate.
- International transaction fee. A fee of 3% of the total transaction amount applies when you use your credit card for transactions made in a foreign currency.
- Credit limit. This card offers credit limits from $500 (subject to lending criteria and approval). Choosing a lower credit limit could help you keep on top of repayments and build up good credit history.