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Bank First Credit Cards

You don’t have to be a teacher to apply for a low rate credit card from Bank First

Updated

Bank First
It’s hard to believe Bank First started out as just a handful of teachers with a couple of hundred of dollars between them. Today, the mutual has more than 100,000 members and almost $2 billion in assets.

Bank First is a mutual which means that its customers own the organisation and profits are reinvested to improve the product benefits, fees and experience for its customers. You don’t have to work in education to get a Bank First credit card or loan. The mutual serves both educators and everyday Australians alike. From fee-free banking packages and term deposits designed for schools to planning and arranging grants for preschools, a large part of what the bank does is aimed at supporting the community. This is what a mutual bank does, they benefit members and serve the community. Read this page for a comparison of credit cards from Bank First.

Comparison of Bank First credit cards

Data indicated here is updated regularly
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate Balance transfer rate
Bank First Visa Classic Credit Card
0% for 6 months, reverts to 12.54% p.a.
Up to 55 days on purchases
$0 p.a.
12.54% p.a.
12.54% p.a.
Save with a $0 annual fee for life and enjoy 0% p.a. introductory rate for 6 months on purchases and balance transfers.
Bank First Visa Platinum Credit Card
0% for 6 months, reverts to 9.59% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 6 months
0% p.a. for 6 months
Enjoy a 0% p.a. interest rate on purchases and balance transfers for the first 6 months. Plus, a complimentary insurance.
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What are the types of credit cards from Bank First?

Bank First have two credit cards for you to choose from. The Visa Classic and the Visa Platinum Credit Card both offer competitive purchase rates of interest — an uncommon feature for platinum products.

  • Low rate credit cards

These cards feature a low purchase rate of interest and interest-free days, but the latter only applies if you don't carry a balance between statement periods. Use a low rate credit card if you plan on making purchases you can’t pay off within a month. You’ll find that most low rate credit cards charge an annual fee. Compare these products by how much they cost to own.

  • Platinum credit cards

A platinum credit card gives you perks like insurance and access to premium card benefits. Keep in mind these extras come at the cost of an annual fee and increased purchase rate of interest. This is where platinum cards from a mutual are a little different to the rest of the market. Weigh up whether you’re comfortable paying a higher annual fee for more features. If you can’t see yourself using your credit card concierge, for example, then a platinum card from a mutual could trump a platinum credit card from the Big Four Banks or other mainstream lenders.

The benefits of banking with Bank First

Bank First is a mutual which is owned by its customers and reinvests its profits to provide continuing value to its customers through competitive interest rates, fees and products. Find out about some of the perks that come with using their financial products and services: Bank First — A customer-owned institution

  • Bank First — A customer-owned bank

Mutual Banks are different to most other banks, as these banks are owned by their customers. The Big Four Banks are owned and controlled by shareholders, for instance, and the same goes for most of the better-known financial institutions in Australia. When a mutual bank makes a profit, the money doesn’t go to the shareholders, it goes to you: the customer. Profits are reinvested to the bank and customers benefit from better deals, like a Platinum credit card with a low rate purchase rate of interest.

  • Bank First credit card account access

Manage your Bank First credit card from home or on the go using the Mobile Banking app or by logging onto Internet Banking. Check your transaction history, transfer money between your accounts or other accounts in Australia, make BPAY payments and much, much more anywhere in the world, any time of the day.

  • Visa card benefits

Bank First offer a Visa Classic and a Visa Platinum card. The benefits of using a Visa credit card include:

    • Low ongoing purchase rate. The Visa Classic credit card offers a low purchase rate of 12.54% p.a. and 9.59% p.a. with the Visa Platinum credit card.
    • Interest-free days. Manage your expenses and purchases with 55 interest free days for the Visa Classic credit card and Visa Platinum credit card.
    • Visa payWave. Make purchases under $100 by touching your Bank First credit card against a contactless reader.
    • Visa Zero Liability Policy. Visa gives you a guarantee that you won’t be liable for unauthorised credit card use if you’re the victim of fraud over Visa payment networks (over the counter, contactless and shopping online).
    • Visa Entertainment. Get access to exclusive offers, like advance ticketing options for concerts and sporting events, just by being a Visa cardholder.
    • Platinum cardholder benefits. Take advantage of a range of platinum benefits when you apply for the Visa Platinum credit card. Enjoy complimentary overseas travel insurance and Visa Platinum 24/7 Concierge Services.
  • Account management

Manage your account easily at home or on-the-go anywhere in the world with internet banking or using the mobile banking app. Check your transaction history, transfer money between your accounts, make BPAY payments and much more.

  • Digital wallets

Bank First is compatible with Apple Pay and Google Pay. You can use your smartphone or smart device to make contactless payments at the terminal when you add your card details to the relevant digital wallet app.

How to apply for a Bank First Credit Card

You can apply for a credit card from Bank First online by clicking 'Go to Site'. The application can be completed in fifteen to twenty minutes, but you can save and resume the application at any time.

Required information

  • Member. Be a current Member of Bank First.
  • Identification. As well as providing basic personal information like your name, date of birth and your residential address, input your driver's licence number and its expiry date, your mobile phone number and your occupation.
  • Income. Provide employment details, including occupation, employer’s contact information (employer name and payroll contact).
  • Income (if self employed). Provide current payslips or at least 2 years tax returns and assessments, other forms of income (e.g. rentals or government pensions).
  • Assets. Details of any assets you own like savings, motor vehicles, personal items, investments like shares, superannuation or property and insured contents value.
  • Liabilities. Details about any liabilities: mortgages, rent, personal/ car loans, credit cards.

What happens next?

You should receive an email from Bank First about the status of your credit card application minutes after submitting the online form. You can check on the status of your credit card application by visiting the Bank First website.

Frequently asked questions

We’ve answered some of the most frequently asked questions about Bank First credit cards below. You can also ask us a question using the form at the bottom of the page.

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Credit Cards Comparison

Data indicated here is updated regularly
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Save with a 22-month balance transfer offer. Plus, lounge passes, travel insurance and an annual fee refund when you spend an eligible $6k/year.
ANZ Low Rate
12.49% p.a.
0% p.a. for 22 months with 1.5% balance transfer fee
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Bankwest Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months
$0 p.a.
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
ANZ Frequent Flyer Black
20.24% p.a.
20.24% p.a.
$425 p.a.
Earn 100,000 bonus Qantas Points, 75 bonus Status Credits and $150 back when you spend $3,000 in the first 3 months with this premium card.
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* 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.

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