In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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BankVic Low Rate Visa credit card

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BankVic Low Rate Visa
Terms and conditions apply
Balance transfer rate for 6 months with no balance transfer fee
8.99% p.a.
Purchase rate for the first 6 months (reverts to 13.95%)
8.99% p.a.
Annual fee
$0 p.a.
Interest-free on purchases
Up to 44 days

Our verdict

Pay no annual fee and save with a low introductory interest rate for the first 6 months.

With no annual fee and a low introductory rate, the BankVic Low Rate Visa credit card is designed to help you cut standard card costs. Unlike most cards with a low interest offer, the standard interest rate that applies after the first 6 months is relatively competitive. This means this card could help you save more if you’re planning to use it beyond the promotional period. However, there are some other cards that offer 0% on purchases and balance transfers for longer introductory periods, so it’s worth comparing your options.

Pros

  • $0 p.a. annual fee for life
  • Introductory 8.99% p.a. interest rate for the first 6 months on purchases and balance transfers
  • Compatibility with Apple Pay and Google Pay

Cons

  • Only up to 44 days interest-free on purchases, as opposed to other cards that offer up to 55 days.
  • Doesn’t offer any rewards

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The BankVic Low Rate Visa credit card boasts a bunch of cost-saving extras including a 8.99% p.a. interest rate for the first 6 months. After this, the low ongoing interest rate of 13.95% p.a. will apply. You’ll save with $0 annual fee and can take advantage of exclusive perks for Visa cardholders.

Details

Product details

Product Name BankVic Low Rate Visa
Balance transfer rate p.a. 8.99% for 6 months, then 13.95%
Balance transfer limit 95% of available limit
Purchase rate p.a. 8.99% for 6 months, then 13.95%
Interest-free period Up to 44 days on purchases
Cash advance rate p.a. 13.95%
Min credit limit $1,000
Max credit limit $20,000
Card type Visa

Eligibility

Available to temporary residents No
Joint application No

Rewards

Bonus points N/A

Fees

Annual fee $0
Minimum monthly repayment 2.5% of the closing balance or $20, whichever is greater
Late payment fee $15
Foreign currency conversion fee 3.65%
Overseas cash advance fee $4

How to apply

You can apply for the BankVic Low Rate Visa credit card online in around 30 minutes. Before you get started, check if you meet the eligibility criteria and prepare the necessary details to complete the application.

Eligibility criteria

  • Credit history. You’ll need a good credit score and must not have declared bankruptcy, insolvency or defaulted on any other lines of credit.
  • Residency. This card is only available to permanent Australian residents.

Card benefits

  • No annual fee. This card charges $0 annual fee for life.
  • Introductory low rate offer. You can reduce your interest costs on purchases and balance transfers with a low fixed rate of 8.99% for the first 6 months. After the introductory period, all balances will attract the standard 13.95% p.a. interest rate.

Rates & fees

  • Low rate. Outside of any promotions, this card charges a low ongoing interest rate of 13.95% p.a. on purchases, balance transfers and cash advances.
  • Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 44 interest-free days on purchases. You won’t be eligible for interest-free days if you’re paying off a balance transfer debt.

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