Get a competitive interest rate for purchases, balance transfers and cash advances with the Community First Low Interest Rate Visa.
Community First’s Low Rate Visa is an affordable credit card option that features an interest rate of 8.99% p.a. on purchases, balance transfers and cash advances. Plus, if you apply by 28 February 2018, you could save with 4.99% p.a. for 8 months. The card also offers up to 55 days interest-free on purchases.
|Product Name||Community First Low Interest Rate Visa|
|Balance transfer rate (p.a.)||4.99% p.a. for 8 months|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Standard Balance Transfer Revert Rate (8.99% p.a.)|
|Purchase rate (p.a.)||4.99% p.a. for 8 months (reverts to 8.99% p.a.)|
|Offer end date||28 February 2018|
|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.)||4.99% p.a. for 8 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.
|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.
|3% of transaction value|
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Credit Rating Requirement||Good|
|Annual fee||$40 p.a.|
|Minimum Monthly Repayment||3% or $20 whichever is greater|
|Late Payment Fee||$25|
|Overseas Cash Advance Fee||$5|
|Overseas ATM Withdrawal Fee||$5|
|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|
|Additional Cardholder Fee||$0|
- You can enjoy an interest-free period of up to 55 days.
- Pay a low annual fee of $40.
- Enjoy an introductory interest rate of 4.99% p.a. on purchases, balance transfers and cash advances.
- There is no rewards program linked to this credit card.
Community First Low Interest Rate Visa Credit Card review
While some credit cards come with a wide range of features and complimentary extras, the Community First Low Interest Rate 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 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 Visa
- Introductory interest rate. If you apply by 28 February 2018, you could save even further on interest costs with an introductory offer of 4.99% p.a. for 8 months on purchases, balance transfers and cash advances. The interest rate will revert to 8.99% p.a. thereafter. Please note that this promotional interest rate is only available to new applicants.
- Low interest rates. This credit card offers an introductory interest rate of 8.99% p.a. on purchases, cash advances and balance transfers.
- 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 Visa Credit Card
- 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.
- 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 Visa
You can easily apply for a Community First Low Interest Rate Visa online. Get started now by checking to make sure you meet the eligibility requirements for this credit card.
- 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.
- Compare credit cards. Compare a range of low rate credit cards to make sure the Community First Low Interest Rate Visa is the right option for your circumstances.
- Register to apply. You need to register with Community First to apply for this credit card by selecting a username and password.
- Apply. Apply online or in a branch.
- 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.
- 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.
- 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 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