Australian Mutual Bank is a member-owned, ethical bank that formed after a merger between Endeavour Mutual Bank and Sydney Mutual Bank/Credit Union in 2021. It offers one credit card, made from 82% recycled plastic, with features that fit with the brand's ethical values.
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The Australian Mutual Bank Low Rate Visa Credit Card has a 10.49% p.a. interest rate for purchases and a $30 annual fee. Both of these features are very competitive with other low rate credit cards.
Benefits of getting a credit card with Australian Mutual Bank
Eco-friendly cards
Credit cards and debit cards from Australian Mutual Bank are made from 82% recycled plastic. This includes a plastic body made from 99% recycled PVC and an inlay, antenna, magnetic stripe and chip module, which can't currently be made from recycled plastic.
Ethical and sustainable banking values
Australian Mutual Bank is carbon neutral and will transition to 100% renewable energy across the business by 2023. It also has B Corp certification, which means it meets high, independent standards for ethical and environmental performance, accountability and transparency.
Digital wallets
You can add an Australian Mutual Bank credit card to any of these digital wallets or apps:
Apple Pay
Google Pay
Samsung Pay
Fitbit Pay
Garmin Pay
Account management
With the Australian Mutual Bank mobile app, you can activate a card, check your balance, put a temporary block on your card and manage other account features. It also offers internet banking, as well as phone banking on 13 61 91.
Visa benefits
As a Visa credit card, you can make payments in-store, online and over the phone, wherever Visa is accepted. When you shop online, you get an extra layer of protection with Visa Secure. You also get access to exclusive deals on shopping, dining, entertainment and travel through Visa Offers + Perks.
Eligibility criteria
Before you can apply for a credit card, there are a few eligibility boxes you need to tick. We've listed the key ones for the Australian Mutual Bank Low Rate Visa credit card below:
Australian residency status. You must be a citizen or permanent resident of Australia.
Income. You need to have a regular, permanent income.
Age. You must be at least 18 years of age.
Information and documents you need to apply
Personal information. This includes your name, date of birth, email address, residential address, marital status and number of dependents. If you are new to Australian Mutual Bank, you'll also need to provide a valid form of ID, such as your Australian driver's licence or passport.
Income details. You need to include details about your income from all sources, which can include shares and any income you earn from real estate investments. If you're employed, you'll need to include details of your job title, length of employment and your employer's contact details.
Financial details. This covers your savings and other assets, as well as existing debts, loans and your share of regular household expenses.
Credit card details
As part of the application, you'll be asked for details about the new credit card. The key questions to think about are:
Credit limit. You can request a credit limit of any amount above the minimum limit of $1,000. Just keep in mind that the credit limit you're offered is subject to Australian Mutual Bank's lending criteria and assessment, so it may be lower than the limit you request.
Balance transfers. If you want to request a balance transfer to move existing debt onto the Australian Mutual Bank credit card, you'll need to provide details of the total amount you want transferred, as well as the account name, number and institution's BSB.
What happens after you apply?
Australian Mutual Bank will send you an email with a summary and application reference number. You'll also get details about providing more supporting documentation, if that's needed.
Credit card brands similar to Australian Mutual Bank
If you want a credit card from a member-owned bank or one that's focused on sustainability, here are 3 others you can compare with Australian Mutual Bank:
Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald.
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