Get the global acceptance of a Visa with a low purchase and cash advance rate of interest.
The Circle Visa Credit Card gives you the global acceptance of visa coupled with a competitive purchase and cash advance rate of interest. If you hold another account with Circle Credit Union, like a home loan, you’re eligible to receive a further discount on the purchase and cash advance rate. You can secure your credit card against your home loan to get a discount. But you don’t have the have a loan or another account with Circle Credit Union to apply for this credit card. Our Circle Visa Credit Card review outlines the fees, rates and features of this account.
|Product Name||Circle Visa Credit Card|
|Balance Transfer Limit||100% of available credit limit|
|Purchase rate (p.a.)||14.5% p.a.|
|Annual fee||$60 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.)||14.5% 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.
|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.
|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.
|2% of transaction value|
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$60 p.a.|
|Minimum Monthly Repayment||5%|
|Cash Advance Fee||$3|
|Foreign Currency Conversion Fee|
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.
|Gambling Transactions Allowed||No|
Circle Visa Credit Card review
You can use this account to make purchases and you’ll get up to 55 days interest-free. Interest-free days are applied to your account when you don’t carry a balance from month to month — pay back everything you spend on the card when your statement arrives to continue to receive interest-free days.
If you apply and get approved for this account, you can enjoy a credit limit of as little as $500. A credit limit of just $500 is perfect for low income earners as you only need to be able to service the minimum credit limit to get approved for the account.
Also, when you charge a purchase to the Circle Visa Credit Card, interest will accrue on the purchase amount at a rate of 14.5% p.a. The purchase rate of interest applies when you are ineligible to receive interest-free days on purchases.
Benefits of the Circle Visa Credit Card
- $5 monthly fee. Although this is technically classified as an annual fee, the account service fee is a monthly charge. You will pay $5 monthly a month to keep this account.
- Additional cardholder fee. If you want to add a supplementary card to the account, you can get an additional card for a family member for an additional annual fee of . Supplementary cardholders must be over the age of 18. The primary cardholder is responsible for any spending on the additional cards.
- Purchase rate and cash advance rate of interest. Unlike most other credit cards, the purchase rate of interest and the cash advance rate of interest are the same with this account. Pay the same rate of interest on the purchases you make with the card as well as cash withdrawals from an ATM. The ongoing interest rate for purchases and cash advances is 14.5% p.a.
Features of the Circle Visa Credit Card
- Annual fee. This account has an annual fee (also called an account service fee) of $5 monthly charged monthly. You will pay $60 a year to keep the Circle Visa Credit Card.
- Purchase rate. The purchase rate of interest with this account is a low ongoing rate of 14.5% p.a.
- Credit limits. The minimum credit limit on the Circle Visa Credit Card is $500. The maximum credit limit is $15,000. Low income earners can apply for this account. You only need to be able to service the minimum credit limit to meet the income requirement.
- Interest-free days. When you make a purchase with the Circle Visa Credit Card, you’re eligible to receive up to 55 days interest-free days. You won’t incur any interest on the purchases you make with the card between statement periods if you pay your account off in full each month.
- Supplementary cards. Get a supplementary card for family member for an additional fee of . The primary cardholder is responsible for any additional cards issued on the account.
- Worldwide acceptance. Use the Circle Visa Credit Card wherever Visa is accepted. Literally in millions of places all over the world, make purchases over the counter, make withdrawals from ATMs that take Visa cards or online.
- Fraud protection. You’re protected against fraud when you use this card too. If you’re the victim of credit card fraud, Visa offer a money back guarantee.
How to apply for the Circle Visa Credit Card
- Have a good credit rating.
- Be over the age of 18.
- Be able to service the minimum credit limit of $500
Before you apply for the Circle Visa Credit Card, you should have the following information on hand.
- Drivers license or passport.
- Details about your employment, including your occupation and income including overtime and allowances. If you’ve been at your job for less than three years you’ll have to also supply the details of your previous employer.
- You’ll also need to supply two references to verify your details. These can be friends or family as long as they don’t live with you.
- If you’re providing security you also need to provide details of the property or vehicle you’re offering as security. You’ll need to include details about it’s value and purchase price, and any insurance policies covering the security.