Community First Low Interest Rate Black Visa Review

Information verified correct on December 6th, 2016

Get a competitive interest rate for purchases, balance transfers and cash advances with the Community First Low Interest Rate Black Visa.

Community First’s Low Rate Visa is an affordable credit card option that features an introductory interest rate of 3.99% for 6 months on purchases, balance transfers and cash advances. It also offers up to 55 days interest-free on purchases.

Product NameCommunity First Low Interest Rate Black Visa
Balance transfer rate (p.a.)3.99% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (8.99% p.a.)
Maximum Balance Transfer AmountTransfer all or part of the outstanding balance and/or limit of your existing credit card
Purchase rate (p.a.)3.99% p.a. for 6 months (reverts to 8.99% p.a.)
Annual fee$40 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.)3.99% p.a. for 6 months (reverts to 8.99% 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.
$1,000
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.
$15,000
Minimum Monthly Repayment3% or $20 whichever is greater
Card TypeVisa
Late Payment Fee$25
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 InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
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.
$1,000
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.
$15,000
Annual Fee$40 p.a.
Minimum Repayment3% or $20 whichever is greater
Late Payment Fee$25
Over Limit Fee$30
Overseas Cash Advance Fee$5
Overseas Emergency Replacement$175
Overseas ATM Balance check$5
Overseas ATM Withdrawal Fee$5
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
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingYes
Internet Banking TransfersYes
In BranchNo
MailNo

Pros

  • This credit card comes with a introductory offer of 3.99% p.a. for 6 across retail purchases, balance transfers and cash advances.
  • You can enjoy an interest-free period of up to 55 days.
  • Pay a low annual fee of $40

Cons

  • There is no rewards program linked to this credit card.

Community First Low Interest Rate Black Visa Credit Card review

While some credit cards come with a wide range of features and complimentary extras, the Community First Low Interest Rate Black Visa is designed to be a straightforward option that provides competitive value for money. The key feature of this card is its ongoing low interest rate, which gives you the potential to save money on charges when you carry a balance. Having the same rate for all purchases, balance transfers and cash advances also means it is easier to keep track of your balance.

This card also comes with up to 55 days interest-free if you pay your balance in full by the due date on each statement, and has a competitive annual fee of $40. It can be used globally for in-person purchases, ATM withdrawals and phone or online transactions, anywhere Visa is accepted.

Benefits of using the Community First Low Interest Rate Black Visa

  • Promotional interest rates. This credit card charges 3.99% interest on purchases, cash advances and balance transfers for 6 months. Offer is available to new cards only.
  • Interest-free days. You can get up to 55 days interest-free on purchases when you pay your balance in full each statement cycle.
  • Free additional cardholder. You can share the benefits of this account with a partner or family member by getting a secondary card at no extra charge.
  • Visa Entertainment. Get access to exclusive pre-sale tickets and offers for a wide range of events and experiences through this complimentary service for Visa cardholders.

Features of the Community First Low Interest Rate Black Visa Credit Card

  • Standard interest rate. While most credit cards have different interest rates for purchases, cash advances and balance transfers, the Community First Low Interest Rate Black Visa charges a competitive 8.99% p.a. across the board.
  • Annual fee. There is a $40 annual fee for this credit card.
  • International transaction fee. There is a 3% charge for any transactions made in a foreign currency, including when you are travelling overseas or shopping online with an international retailer. This fee is applied to the Australian dollar value of your purchase (after international currency conversion).
  • Late payment fee. You will be charged a $25 fee for payments made 7 days after the due date on your statement. An additional $25 late payment fee also applies if you do not make a payment 14 days after the due date.
  • Card replacement fee. If your card is lost, stolen or damaged within Australia, you will have to pay $12.50 to get it replaced. Overseas emergency card replacement attracts a higher fee of US$175.
  • Chargeback fee. If you have to request a chargeback through Community First, you will be charged $25 to process the returned payment. Find out more with our guide to reversing credit card charges.
  • Visa payWave. This card let’s you make tap-and-go transactions of up to $100 at a time. There is a limit of $200 per day for these types of payments.
  • Internet and mobile banking. Check your balance and manage your account easily via Internet banking or with the Community First mobile banking app.
  • Security features. Cardholders are covered against fraudulent transactions with Visa’s Zero Liability Policy. You also have the option of signing up for Verified by Visa to increase your security when shopping online.
  • Credit limits. This card offers credit limits of $1,000 to $15,000.

How to apply for the Community First Low Interest Rate Black Visa

You can easily apply for a Community First Low Interest Rate Black Visa online. Get started now by checking to make sure you meet the eligibility requirements for this credit card.

Eligibility requirements

  • Age. You must be at least 18 years of age to apply for a credit card.
  • Residency status. You must be a citizen or permanent resident of Australia to apply for this credit card. If you’re a temporary resident, you can read our guide on which cards you can apply for in Australia.
  • Employment. Community First specifies that you must have been in your current job for more than three months, and must have a regular income. It also says that it will accept applications from self employed individuals.
  • Credit rating. You must have a good credit rating to apply for this card. Specifically, Community First requires you to not be bankrupt and not have defaults on any loans, credit cards, interest-free finance or store cards in the last five years.

Once you have made sure you meet these conditions, you can start the application process by following the steps below. It should only take about 15 minutes to complete.

  1. Compare credit cards. Compare a range of low rate credit cards to make sure the Community First Low Interest Rate Black Visa is the right option for your circumstances.
  2. Register to apply. You need to register with Community First to apply for this credit card by selecting a username and password.
  3. Apply. Apply online or in a branch.
  4. Answer the initial questions. The Community First application will ask you to select your Australian state, the product you are applying for and your desired credit limit before moving on to the main part of the application.
  5. Fill out the application. You will need to provide personal details including your full name, residential address, contact number, email address and driver’s licence number.
  6. Provide supporting documentation. Community First may ask you to submit a range of documents for your application, including a copy of your driver’s licence or passport, your employment contract, recent payslips or your latest personal tax return. Gather these documents and submit them as requested during your application.

Once you have completed the application process, a representative from Community First will be in touch to let you know the outcome. If you are approved and provide all the required documents, you should receive your card within 10 business days, although it could be up to 21 days in some cases.

The Community First Low Interest Rate Black Visa is a no frills credit card with a competitive ongoing interest rate and annual fee. Now you know more about this card’s features, you can compare it to other low rate options to make sure you apply for the right credit card for your needs.

Back to top
Was this content helpful to you? No  Yes

Ask 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

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to Community First Low Interest Rate Black Visa Review

  1. Default Gravatar
    KIm | June 20, 2015

    I own a gold Mastercard from CBA, can I transfer all the details to your Community First Low Rate Visa Credit Card?

    Thank you very much.

    Kim

    • Staff
      Jonathan | June 22, 2015

      Hi Kim, thanks for your inquiry!

      Please note that finder.com.au is a comparison service and is not directly affiliated with Community First. Balance transfers from the Commonwealth Bank to Community First are eligible. Please note that the balance transfer amount has to be at least $500 and can not exceed the credit limit provided on your credit card upon application approval. As long as you meet the application criteria you will be eligible to apply for this credit card. I have sent the application link to your email address.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated December 6th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback