LCU Credit Cards

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Do you want a low rate credit card that offers easy access to funds or a platinum card with a range of benefits? LCU has an option for you.

CSIRO staff established Laboratories Credit Union in 1954, and membership is now open to Riverside Corporate Park employees as well as people from other walks of lives. This North Ryde based credit union offers its members an array of financial services and products typically associated with a bank, some of which include loans of different types, access and savings accounts, and insurance solutions. It also offers two MasterCard options which are detailed on the page below.

Types of credit cards that LCU offers

If you turn to LCU for a credit card you can choose one based on whether you want a low interest rate or a whole bunch of extras. Since both kinds come with MasterCard connections, you can use them globally.

  • Low rate credit cards

    You can benefit from using a low rate credit card if you don’t want too much from your card apart from a low interest rate. The MyCard Low Rate MasterCard that LCU offers gives you up to 55 interest-free days on purchases, and the guaranteed pricing scheme and purchase cover insurance provide peace of mind.

Rates last updated December 3rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Low Rate Platinum Credit Card
$250 Back plus 0% p.a. for the first 6 months on purchases from approval.
0% p.a. for 6 months (reverts to 13.49% p.a.) $99 p.a. Go to site More info
NAB Low Fee Card
Enjoy a low introductory rate of 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $30 p.a. Go to site More info
ME Bank frank Credit Card
A low interest rate on purchases and cash advances with no annual fee charge.
11.99% p.a. $0 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.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
Westpac Low Rate Card
A simple low interest rate card featuring a low ongoing rate on purchases, up to 55 days interest-free on purchases and a low annual fee.
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 16 months $59 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
Coles Low Rate MasterCard
A low rate MasterCard with a competitive rate on purchases and a low annual fee.
9.99% p.a. 0% p.a. for 6 months $49 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for up to 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info

Learn more about Low Rate Credit Cards

  • Platinum credit cards

    If you don’t mind paying a little extra in the form of interest for extras like rewards and free insurance covers, a platinum card might be right for you. The LCU MyCard Platinum MasterCard rewards you in accordance to how much you spend using your card, and it comes with a number of complimentary insurance covers. This card also gives you access to a round-the-clock concierge service.

Rates last updated December 3rd, 2016
Rewards Points per $ spent (AMEX) Rewards Points per $ spent (VISA/MC) Bonus Points Annual fee
ANZ Low Rate Platinum Credit Card
$250 Back plus 0% p.a. for the first 6 months on purchases from approval.
$99 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
0 1 $149 p.a. Go to site More info
NAB Qantas Rewards Premium Card - Exclusive Offer
Get 75,000 bonus Qantas Points plus enjoy a low promotional offer of 4.99% p.a. for 6 months on balance transfers.
1.5 0.5 75,000 bonus points $250 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn bonus Velocity Points in the first 3 months and a low 0% p.a. for 18 months on balance transfers. Receive a free Virgin Australia $129 Gift Voucher each year. Available from mid-2016.
0 0.66 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0 0 $0 p.a. annual fee for the first year ($87 p.a. thereafter) 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.
0 1 60,000 bonus points $199 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
0 0 $99 p.a. Go to site More info
Citi Rewards Credit Card - Platinum Card
Enjoy a long term balance transfer offer and earn 1.25 Citi Reward Points on per $1 spent for all domestic purchases.
0 1.25 $199 p.a. annual fee for the first year ($249 p.a. thereafter) Go to site More info
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy a $200 travel credit every year and get 0% p.a. for 12 months on balance transfers.
1 0 10,000 bonus points $195 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 18 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
0 0 $99 p.a. Go to site More info
Learn more about Platinum Credit Cards

Benefits of LCU and its credit cards

LCU, like other credit unions, does not have shareholders who eat into its profits, and so manages to offer its customers competitive interest rates and high levels of service while keeping fees to a minimum. Benefits of getting an LCU credit card are as follows:

  • Complimentary insurance covers

    Both credit cards offer protection through the guaranteed pricing scheme and purchase cover insurance. If you get the platinum card, you also get complimentary international travel, interstate flight inconvenience and transit accident insurance covers.

  • Save on interest

    Both these cards offer interest on balance transfers, and this rate stays in place for six months. The platinum card offers interest for the first six months on purchases, as well.

  • Concierge service

    The MyCard Platinum MasterCard offers access to a platinum concierge service which you can use for various purposes. This service, for example, can help you locate a restaurant in cities across the world, and you can also use it to book a table. You can also turn to it to book tickets for sporting, cultural, and entertainment events.

  • Account security

    Both these cards make use of chip technology, which offers increased protection when compared to its magnetic strip predecessor. If there is any inkling of an irregular transaction, you can expect it to be followed up.

How to apply for an LCU credit card

Apply for an LCU credit card by visiting their branch or over the phone, and you can also download an application from their website. To download the application click on the ‘Go to Site’ button next to the credit card of your choice. After you complete the application you can mail it, fax it or drop it at an LCU branch. Before you move forward with the application, make sure you meet the following eligibility criteria.

  • You’re at least 18 years old.
  • You’re a permanent resident of Australia.
  • You don’t have poor credit rating.
  • For the low rate card, you should earn at least $25,000 p.a.
  • For the platinum card, you should earn no less than $35,000 p.a.

To complete the application you have to submit different types of information, ranging from personal, to professional, to financial. Here’s what you’ll need:

  • Personal - Provide your complete name, date of birth, driver’s licence number, home address, phone number, email address, marital status and number of dependants.
  • Professional - This section requires your employment status along with your employer’s name and contact details. You also have to mention the duration of your employment. If you are self-employed or retired, you’ll need to provide your accountant’s details.
  • Financial - Here, provide details of your income from all sources. You have to list general monthly expenses and any other recurring expenses, as well as details about liabilities like loans, credit cards, and store cards.

What happens next?

Expect someone to review your application soon after you submit it, and if LCU requires any more information a rep will contact you. Part of the process requires that the lender make an income verification call to the payroll department at your place of employment. If you’re not an LCU member you’ll have to become one in order to receive your card, and you’ll also have to go through a legally required identity verification process.

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Frequently asked questions

Given below are answers to some of the most commonly asked questions about LCU credit cards, and if you’ve got a question of your own, you can ask using the form at the end of this page.

How quickly can I complete the application?

While the application requires different types of information, if you have all the information on hand you can complete it in a matter of minutes.

How quickly can I find out about approval?

You can look forward to an approval within 24 to 48 hours.

What happens to the promotional interest rate at the end of six months?

After the initial six-month period, outstanding balances from balance transfers attracts the cash advance rate, and outstanding balances from purchases attract the purchase rate.

What are the minimum and maximum credit limits?

The minimum credit limits of the low rate and platinum card are $2,000 and $6,000 respectively. The maximum limit at the point of initial approval is $15,000 for the low rate card and $30,000 for the platinum card.

How do I earn rewards?

The Platinum MasterCard comes linked to the Card Services Rewards Program, and you stand to earn points each time you use your card to make a purchase. When you make an eligible purchase, in-store, online, or over the phone, you earn 1.25 reward points for every dollar you spend.

How do I redeem my reward points?

You can redeem your reward points by visiting the Card Services website or by calling LCU.

Is there a cap on the number of points I can earn?

The Platinum MasterCard enables you to earn up to 100,000 rewards points in every 12-month cycle.

Do these points expire?

Your reward points don’t expire as long as you keep your account active and in good standing.

What can I redeem my points for?

The Card Services Rewards Program gives you numerous options from which to choose. These include flight tickets through different frequent flyer programs, travel and store vouchers, as well as a range of merchandise.

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American Express Essential Credit Card
American Express Essential Credit Card

Interest rate

14.99

Annual fee

0
ME Bank frank Credit Card
ME Bank frank Credit Card

Interest rate

11.99

Annual fee

0
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

149

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