Get a no-frills credit card from Bank of us and look forward to a low interest rate and easy access.
Bank of us (formerly known as B&E) dates back to 1870 with the formation of the Launceston Equitable Building and Investment Society. Then, in 1968, the Bass Building Society formed, and the two merged in 1988 to form the Bass and Equitable Building Society. In 2001, it changed its name to B&E. With branches spread across the state of Tasmania, Bank of us offers its customers a range of financial products and services, from savings and transaction accounts, to term deposits and credit cards.
Bank of us Credit Cards
Types of credit cards that Bank of us offers
As of now, Bank of us, through its association with Visa, offers a no-frills credit card that you can use for everyday transactions and more.
Low rate credit card
The Bank of us Visa Credit Card is one that offers a competitive interest rate. This rate means that extras like complimentary insurance and access to concierge services aren't offered with the card. What you do get is the ability to use the card worldwide, and you can also link this credit card with up to two other Bank of us accounts. You can take advantage of up 57 interest-free days on purchases.
Learn more about Low Rate Credit Cards
Benefits of banking with Bank of us
Despite the fact that the Bank of us credit card does not offer too much in the form of extras, using it does come with its share of benefits.
One card for multiple accounts
When you bank with Bank of us and use their Visa credit card, you can link two other Bank of us accounts to your card. This enables you to access multiple accounts conveniently through a single card facility.
Easy access to account information
With a Bank of us credit card you can access account-related information in different ways. You can use telephone banking to speak with a Bank of us rep, or you can turn to online banking or their app for smartphones. Alternatively, you can always visit a branch.
More than 24 million businesses across the world accept Visa payments, so you can use your Bank of us Visa credit card just about anywhere in the world. Credit cards that Bank of us issue after March 2015 will make use of payWave technology. This allows you to make contactless payments for purchases under $100.
You have the ability to transfer balances from existing credit cards, and you can still get up to 57 interest-free days with this feature. Then, any outstanding transferred balance starts attracting the card’s purchase rate.
How to apply for a Bank of us credit card
If you wish to apply for a Bank of us credit card you can do so by visiting any Bank of us branch, or you can complete an online application, which takes about 10 minutes to complete.
Eligibility criteria and required information
Applying for a Bank of us credit card requires that you meet certain eligibility criteria. You should be over 18 years of age, an Australian citizen or a permanent resident of Australia, you should not have poor credit history and you should have a regular source of income. You also have to provide the following information:
- Personal details. As part of your personal details you have to provide your complete name, residential address, email address, phone number, date of birth, marital status, and the number of dependants you have.
- Financial information. Under this section you have to provide details about your income and expenses. This includes income from all sources as well as details about any savings and assets you may have. Expenses can include rent, mortgage repayments, loan or credit card repayments, payments towards alimony and child support as well as utility bill payments.
What happens next?
If Bank of us requires any additional information after you complete the application, someone at the bank will get in touch with you. Employed individuals can look forward to a quicker turn-around time if they inform their payroll department about Bank of us’ call requesting income confirmation. If you’re a new Bank of us customer, you have to go through a mandatory identity verification process, which is a legal requirement. To do this, you might have to visit a Bank of us branch with required documents.
Frequently asked questions
There are certain questions that are commonly asked about Bank of us credit card. If you have any other questions, feel free to ask using the form at the bottom of this page.
How long does the application process take?
If you choose to apply online, completing the application should take around 10 minutes. After you submit the application the bank will get in touch with you to inform you of its decision, and there is no set time frame for this.
Can I check the status of my application?
Yes, you can check your credit card’s application status either by visiting a Bank of us branch or by calling their helpline.
What is the minimum credit limit?
The minimum credit limit of the Bank of us Visa credit card stands at $500.
How do I increase or decrease my credit limit?
To bring about a change in your credit limit you have to complete a Visa credit card maintenance form. You can mail this form to any branch or drop it in yourself. The bank does not have to approve these requests. If you request a decrease your outstanding balance should not exceed the new limit.
How do I make repayments?
Making repayments towards your Bank of us credit card presents you with multiple options which include phone banking, internet banking, setting up direct debits, making payments at a branch or through Bank@Post. You can also send Bank of us a cheque using an Australian bank account.
Can I add an additional cardholder?
You can get 2 additional cards linked to your primary card, but the cardholders need to be more than 16 years old. They should also be Bank of us customers. You can submit a request for an additional card online, over the phone, or by visiting a branch.
Is there any difference in the purchase rate and the cash advance rate?
Yes, the cash advance rate is slightly higher than the purchase rate. There are also no interest-free days on cash advances.
What fees do I have to pay?
A nominal annual fee is in place and you have to keep paying this as long your account remains active. If you make payments after the due date, you’ll have to pay late payment fees. Other transaction related fees can also apply.
How do I activate my credit card?
When you receive your Bank of us credit card you also get instructions along with it that guide you through the card activation process. Upon activating your card, you automatically agree to all the card’s associated terms and conditions.
What do I do if I lose my card?
If you lose your card, or if it is stolen or misused, you should report it to Bank of us immediately.
How do I cancel my card?
You can close or cancel your account at anytime, and you can initiate the process over the phone or in person. Part of the process requires that you return the card (cut in half) to the bank, and you must not use the card after it cancellation. You remain liable to pay the entire balance due on the card prior to the cancellation request.