First Option Credit Union Credit Cards

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Get a low rate First Option Visa credit card that you can use worldwide, or opt for a cash rewards Visa credit card instead.

First Option Credit Union’s history dates back over forty-five years, with its current name coming into being in 2005 upon the merger of Flying Horse Credit Union (Victoria) and TAB Credit Union (NSW). Ericsson Credit Union then merged with First Option in 2008. This credit union primarily services employees, contractors, and employees’ family members from companies which span across hotel, leisure, gaming, petrochemical and telecommunication industries. First Option offers its members an array of financial services and products that include access and savings accounts, different types of loans, overdrafts and credit cards, insurance solutions, financial planning advice and foreign exchange products.

Comparison of First Option Visa Credit Cards

Rates last updated April 27th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
First Option Credit Union Low Rate Visa Credit Card
Enjoy a up to 45 days interest free on purchases, no application fee, and a competitive low interest rate
13.49% p.a. $0 p.a. More info
First Option Credit Union Cash Rewards Visa Credit Card
No annual fee card and get rewarded with every dollar spent on your card.
0% p.a. for 6 months (reverts to 15.99% p.a.) 0% p.a. for 6 months $0 p.a. More info

Types of credit cards that First Option offers

First Option, along with a tie-up with Visa, offers its members two distinct credit cards, each coming with its share of features.

  • Low rate credit cards

A typical low rate card is one that gives you different ways to access your line of credit and charges a low interest rate. First Option’s Standard Visa Credit Card is one you can use to pay for goods or services at point-of-sale terminals, over the phone and online. You can use it for cash advances at ATMs the world over, as long as they display the Visa logo. Keeping in mind your account’s billing date and when you use your card, you can get up to 45 interest-free days on purchases. This card does not charge any annual fees, but you have to pay a nominal monthly fee.

Rates last updated April 27th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
First Option Credit Union Low Rate Visa Credit Card
Enjoy a up to 45 days interest free on purchases, no application fee, and a competitive low interest rate
13.49% p.a. $0 p.a. Up to 45 days on purchases More info
Rates last updated April 27th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
NAB Low Rate Credit Card
A low rate card which offers 0% p.a. on balance transfers for the first 18 months combined with a low annual fee.
13.99% p.a. 0% p.a. for 18 months with 3% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 12 months on balance transfers and 0% p.a. for 6 months on purchases, plus a low annual fee.
0% p.a. for 6 months (reverts to 13.24% p.a.) 0% p.a. for 12 months $55 p.a. Up to 55 days on purchases Go to site More info
HSBC Low Rate Credit Card
This card comes with a balance transfer offer, a low interest rate and up to 55 days interest-free on purchases.
13.25% p.a. 0% p.a. for 15 months with 2% balance transfer fee $55 p.a. Up to 55 days on purchases Go to site More info
American Express Essential®  Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Up to 55 days on purchases Go to site More info
CUA Low Rate Credit Card
A low rate credit card which features a long-term balance transfer offer, a low ongoing interest rate on purchases and a waived annual fee for the first year.
11.99% p.a. 0% p.a. for 13 months $0 p.a. annual fee for the first year ($49 p.a. thereafter) Up to 55 days on purchases Go to site More info
ANZ Low Rate Platinum
Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
11.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $99 p.a. Up to 55 days on purchases Go to site More info
NAB Low Rate Platinum Card
Offers a low introductory rate of 0% p.a. on balance transfers for 18 months plus enjoy premium benefits including international travel insurance.
13.99% p.a. 0% p.a. for 18 months with 3% balance transfer fee $100 p.a. Up to 55 days on purchases Go to site More info
Bendigo Bank Basic Black Credit Card
A basic credit card that features low interest rates, low annual fee and up to 44 interest-free days on purchases.
12.24% p.a. $45 p.a. Up to 44 days on purchases Go to site More info
Westpac Low Rate Card - Online Only Balance Transfer Offer
A low interest rate on everyday purchases and a long term balance transfer rate offer of 0% for 24 months.
13.49% p.a. 0% p.a. for 24 months with 2% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate
Take advantage of 0% p.a. for 16 months on balance transfers and a low ongoing interest rate on purchases.
12.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. Up to 55 days on purchases Go to site More info

Learn more about low rate credit cards

  • Rewards credit cards

This type of card rewards you in accordance with how much you spend on your card, and this is exactly what you can expect from First Option’s Cash Rewards Visa Credit Card. This card gives you up to 45 interest-free days on purchases, it charges a nominal monthly fee.

Rates last updated April 27th, 2017
Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Bonus Points Annual fee
First Option Credit Union Cash Rewards Visa Credit Card
No annual fee card and get rewarded with every dollar spent on your card.
1 0 $0 p.a. More info
Rates last updated April 27th, 2017
Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Bonus Points Annual fee
NAB Rewards Platinum Card
Enjoy 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days from card approval. Benefit from $0 annual fee for the first year and a range of platinum features.
1 80,000 bonus points $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
ANZ Frequent Flyer Black
Receive 75,000 bonus Qantas Points when you spend $2,500 on eligible purchases within the first 3 months, plus earn up to 1 point for every dollar spent on eligible purchases. Also, earn 75 Bonus Status Credits when you apply by 30 June 2017, buy and fly return with Qantas by 30 September 2017.
1 75,000 bonus points $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
American Express Explorer Credit Card
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 3 months of card membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
2 100,000 bonus points $395 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
1 0 60,000 bonus points $199 p.a. Go to site More info
NAB Rewards Classic Card
Receive 40,000 bonus points when you spend $1,500 on everyday purchases within 90 days from card approval, earn rewards points per $1 spent, and enjoy a $0 annual fee for the first year.
0.75 40,000 bonus points $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Enjoy an annual fee refund every year if you meet the spend requirement with a balance transfer offer, high credit limits and prestige services including a personal concierge service and VISA Platinum rewards program.
1 0 $149 p.a. Go to site More info
Citi Rewards Platinum Credit Card
Consolidate your debt with a low balance transfer offer of 0% p.a. for 24 months and a host of platinum privileges. Earn 1 Citi Reward Points for every $1 spent on eligible domestic and international spend.
1 0 $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
American Express Velocity Platinum Card
Receive 50,000 bonus Velocity Points when you apply online, are approved and meet the minimum spend required, plus take advantage of the 0% p.a. for 12 months balance transfer offer. Also receive a complimentary return flight every year.
0 1 50,000 bonus points $349 p.a. Go to site More info
American Express Essential®  Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
1 $0 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
0.66 0 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info

Learn more about rewards credit cards

Benefits of banking with First Option Credit Union

Getting a First Option credit card offers various benefits, and these vary in accordance to the card you choose. Here are details of some benefits you can look forward to when using your First Option credit card.

  • Account access

If you have a First Option Access Saver account you can link it to your Visa credit card and access your account funds without requiring an extra card. Switching between your savings and credit account is easy: all you have to do is choose the ‘savings’ or ‘credit’ option when making any payment.

  • Cash rewards

What sets First Option’s Cash Rewards Visa Credit Card apart from other similar cards is that you aren't restricted in how you use your reward points. With this rewards program, your points convert into dollars and accumulate in a ‘cash rewards’ savings account. You earn 1 reward point for every $1 you spend, with 200 reward points being equal to $1 in cash rewards.

  • Visa benefits

These Visa credit cards come with embedded chips to provide enhanced security against being fraudulently used. Online shopping is safer owing to the use of Verified by Visa technology. Both these cards come with PINs, enabling you to use any ATM in the world that displays the Visa symbol.

How to apply for a First Option credit card

You can apply for a First Option credit card over the phone or by visiting a branch, and in both cases you’ll have a professional guiding you through the entire process. If you’re comfortable completing the application on your own you can download an application, complete it, and drop it in a branch, mail it, or fax it. To complete your application online, simply click on the ‘Go to Site’ button next to the card you’ve chosen. Make sure you meet the following eligibility criteria before you proceed.

  • You’re at least 18 years old.
  • You’re an Australian citizen or a permanent resident of Australia.
  • You have a steady source of income.
  • You have good credit history.

The application requires that you provide with some personal, employment-related and financial information, which includes the following:

  • Personal. You'll need to give your name, home address, email address, phone number, date of birth, marital status, and number of financial dependants.
  • Employment. Provide your employer’s name and contact details along with your own income details.
  • Financial. This section requires information about your assets, liabilities and expenses. If you have existing loans, credit cards, and store cards, prepare to part with information surrounding your repayments and credit limits for these accounts.

You can do your bit in speeding the process along by mailing or faxing the following supporting documents:

  • Last two payslips or a letter from your employer to provide evidence of your income
  • Tax returns for the last two years, if you’re self-employed
  • A statement of all existing debts that you disclose in your application
  • Proof of rent, if applicable
  • Copies of current rates notices for all the properties you own, if applicable

What happens after applying?

If First Option requires any more information from you after reviewing your application, a representative will get in contact with you. Part of the process can involve First Option making a phone call to your employer to verify your income. All new First Option members have to go through an identity verification process, as mandated by the Australian government. You have to complete this formality before receiving your card, and this might require a visit to a First Option branch.

Frequently asked questions

There are a number of commonly asked questions about First Option credit cards, and you’ll find answers to most here. If you have any other question to ask, you can use the form at the bottom of the page.

How long does the online application take to complete?

The online application is quick and easy to complete, and with all the required information at hand it should take around 10 minutes. You can save your application in between and retrieve it later using your email address and a PIN.

Can I check the status of my application?

Yes, you can check the status of your application by calling First Option.

What is the minimum credit limit and can I ask for an increase?

Both First Option Visa credit cards offer a minimum credit limit of $500. You can request an increase in your card’s limit after using it for a given time period, but keep in mind there is no guarantee of approval.

Is the cash advance rate the same as the purchase rate?

Cash advance rates these cards attract is slightly more than their corresponding purchase rates.

What interest rate do balance transfers attract?

If you use any of these cards for balance transfers, the transferred balances attract the given card’s purchase rate.

Does the rewards program attract a fee?

No, you get free enrolment into the reward program when you get your Cash Rewards Visa Credit Card.

How can I find out how many points I have?

You can call First Option or refer to your monthly credit card statement.

Do these points expire and do they come with any kind of a cap?

These rewards points don’t expire as long as your account is active and in good standing. You can’t earn more than 15,000 per month.

How do I earn reward points?

You earn reward points when you make purchases and non-BPAY bill payments. You don’t earn reward points for cash advances, EFTPOS withdrawals, direct debits, and BPAY transactions. Every dollar you spend earns one reward point, and you get a $1 cash reward for every 200 reward points.

How do I redeem my cash rewards?

You can redeem your cash rewards to make regular purchases by accessing the ‘cash rewards’ savings account.

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ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99
NAB Low Rate Credit Card
NAB Low Rate Credit Card

Interest rate

13.99

Annual fee

59

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