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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First Option Low-Rate Visa Credit Card
Terms and conditions apply
Purchase rate
10.49% p.a.
Annual fee for the first year ($48 p.a. thereafter)
$0 p.a.
Interest-free on purchases
Up to 45 days

Our verdict

Offers a 10.49% p.a. interest rate on purchases, sustainability benefits and a $0 annual fee in the first year, which goes to $48 after that.

The First Option Low-Rate Visa stands out as a credit card that is actively addressing climate change. Unlike most cards in Australia, this one is made from 82% recycled plastic. And while some rewards cards let you use points for donations to good causes, this card's Environmental Rewards gives you a way to support sustainable projects automatically. First Option has partnered with Carbon Landscapes, the Odonata Foundation and trace – with the 0.25% that's donated based on your spending going directly to environmental programs they manage.


  • $0 first-year annual fee ($48 p.a. thereafter)
  • 10.49% p.a. interest rate on purchases
  • Environmental Rewards program donates a portion of spending to sustainable causes
  • Made from 82% recycled plastic
  • Carbon neutral bank


  • A higher 17.99% p.a. interest rate on cash advances
  • No introductory purchase rate or balance transfer rate offer
  • Does not earn points per $1

In this guide

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

The First Option Low-Rate Visa is suited to people who want a low-cost card that also helps support the environment. First Option is a carbon neutral bank, and 0.25% of the value of your spending is automatically donated to sustainable initiatives through the Environment Rewards program. It offers a $0 annual fee in the first year, which then goes to $48 after that. Both the annual fee and 10.49% p.a. purchase rate are competitive among low rate credit cards. Just keep in mind that unlike a rewards card, you won’t directly earn points or cashback as you spend.


Product details

Product Name First Option Low-Rate Visa Credit Card
Purchase rate p.a. 10.49%
Interest-free period Up to 45 days on purchases
Cash advance rate p.a. 17.99%
Min credit limit $500
Max credit limit $25,000
Card type Visa


Available to temporary residents No
Joint application No


Bonus points N/A


Annual fee $0 first year ($48 after)
Minimum monthly repayment 3% of the closing balance or $25, whichever is greater
Late payment fee $0
Foreign currency conversion fee 2%
Overseas cash advance fee $175
Overseas ATM withdrawal fee $0
Additional cardholder fee $0

How to apply

You can easily apply for the First Option Low-Rate Visa online by completing an enquiry form on the bank's website. Here, you can check if you meet the eligibility criteria and get all the required documents and details ready to go.

Eligibility criteria

  • Residency. You should be an Australian citizen or resident.
  • Credit history. You should have good credit history.

Card benefits

  • $0 annual fee in the first year. This card currently waives the annual fee in the first year, which saves you $48 on the annual fee that applies from the second year on.
  • Environmental Rewards program. When you pay with the First Option Low-Rate Visa, an equivalent of 0.25% of your spending is donated to sustainable projects with First Option's environmental partners. For example, First Option has supported Carbon Landscapes in a project to help protect the endangered Mallee Emu-Wren.

Rates & fees

  • Annual fee. Outside of any promotions, this card has a $48 annual fee, which is on par with other low rate cards.
  • Interest-free days. This card offers up to 45 days interest-free on purchases. Any unpaid balance after the due date on your statement will be charged interest from either the beginning of the month or the date of the purchase (whichever is later).

Your reviews

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September 18, 2023

Would I qualify if I am self employed?


Amy Bradney-George Finder

September 22, 2023

Hi Johan,

You can select “Self-Employed” as your employment type when you submit an enquiry through the First Option website. You also need to include your total net monthly income (after tax). If you have further questions about eligibility or the application process, you can contact First Option on 1300 855 675. I hope this helps.

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