Victoria Teachers Mutual Bank Credit Cards

victoria teachers mu logoYou don’t have to be a teacher to apply for a low rate credit card from Victoria Teachers Mutual Bank

It’s hard to believe Victoria Teachers Mutual Bank started out as just a handful of teachers with a couple of hundred of dollars between them. Today, the mutual has more than 85,000 members and almost $2 billion in assets.

Victoria Teachers Mutual Bank is a mutual which means that its customers own the organisation and profits are reinvested to improve the product benefits, fees and experience for its customers. You don’t have to work in education to get a Victoria Teachers Mutual Bank credit card or loan. The mutual serves both educators and everyday Australians alike. From fee-free banking packages and term deposits designed for schools to planning and arranging grants for preschools, a large part of what the bank does is aimed at supporting the community. This is what a mutual bank does, they benefit members and serve the community. Read this page for a comparison of credit cards from Victoria Teachers Mutual Bank.

Comparison of Victoria Teachers Mutual Bank Credit Cards

Rates last updated March 1st, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Victoria Teachers Mutual Bank Visa Classic Credit Card
Low interest rate on purchases plus up to 55 interest free days.
12.94% p.a. $0 p.a. More info
Victoria Teachers Mutual Bank Visa Platinum Credit Card
Low interest rate on purchases and balance transfers.
9.99% p.a. $84 p.a. More info

What are the types of credit cards from Victoria Teachers Mutual Bank?

Victoria Teachers Mutual Bank have two credit cards for you to choose from. The Visa Classic and the Visa Platinum Credit Card both offer competitive purchase rates of interest — an uncommon feature for platinum products.

  • Low rate credit cards

These cards feature a low purchase rate of interest and interest-free days, but the latter only applies if you don't carry a balance between statement periods. Use a low rate credit card if you plan on making purchases you can’t pay off within a month. You’ll find that most low rate credit cards charge an annual fee. Compare these products by how much they cost to own.

Rates last updated March 1st, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
Victoria Teachers Mutual Bank Visa Classic Credit Card
Low interest rate on purchases plus up to 55 interest free days.
12.94% p.a. $0 p.a. Up to 55 days on purchases More info
Rates last updated March 1st, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
NAB Low Rate Credit Card
The NAB Low Rate Card 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 a one off 3% balance transfer fee $59 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
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 12 months and 0% p.a. for up to 6 months on purchases.
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
Bankwest Breeze MasterCard
Enjoy an introductory rate of 0% p.a. on balance transfers for 21 months (2% balance transfer fee applies). Limited time only.
12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate Platinum
$250 Back plus 0% p.a. for the first 6 months on purchases from approval.
0% p.a. for 6 months (reverts to 11.49% p.a.) $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 a one off 3% balance transfer fee $100 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
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.
0% p.a. for 6 months (reverts to 13.49% p.a.) 0% p.a. for 12 months $59 p.a. Up to 55 days on purchases Go to site More info

Learn more about Low Rate Credit Cards

  • Platinum credit cards

A platinum credit card gives you perks like insurance and access to premium card benefits. Keep in mind these extras come at the cost of an annual fee and increased purchase rate of interest. This is where platinum cards from a mutual are a little different to the rest of the market. Weigh up whether you’re comfortable paying a higher annual fee for more features. If you can’t see yourself using your credit card concierge, for example, then a platinum card from a mutual could trump a platinum credit card from the Big Four Banks or other mainstream lenders.

Rates last updated March 1st, 2017
Points per $ spent Complimentary Travel Insurance Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Victoria Teachers Mutual Bank Visa Platinum Credit Card
Low interest rate on purchases and balance transfers.
VISA/MC: 0 AMEX: 0 Yes 9.99% p.a. $84 p.a. More info
Rates last updated March 1st, 2017
Points per $ spent Complimentary Travel Insurance Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
NAB Premium Card
Platinum credit card benefits including higher credit limits and travel insurance, plus a low interest rate on balance transfers.
VISA/MC: 0 AMEX: 0 Yes 19.74% p.a. 0% p.a. for 24 months with a one off 3% balance transfer fee $90 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.
VISA/MC: 1 AMEX: 0 Yes 19.99% p.a. 0% p.a. for 15 months $149 p.a. 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.
VISA/MC: 0 AMEX: 0 Yes 0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) 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.
VISA/MC: 1.25 AMEX: 0 Yes 20.99% p.a. 0% p.a. for 24 months with 1.5% balance transfer fee $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 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.
VISA/MC: 0.66 AMEX: 0 No 20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
American Express Qantas Ultimate Card
Enjoy up to 50,000 bonus Qantas Points on eligible spend, earn up to 3 Qantas Points per $1 spent and get a free domestic return flight every year.
VISA/MC: 0 AMEX: 1 Yes 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $450 p.a. Go to site More info
American Express Explorer Credit Card
Receive 50,000 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 Yes 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $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.
VISA/MC: 1 AMEX: 0 Yes 19.99% p.a. $199 p.a. Go to site More info
Bankwest Breeze Platinum MasterCard
A Platinum card offer with a 0% p.a. for 21 months on balance transfers and $0 on foreign transactions. Limited time only.
VISA/MC: 0 AMEX: 0 Yes 12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $99 p.a. Go to site More info
Citi Simplicity Card
Take advantage of the 0% p.a. for 15 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cash back on retail purchases.
VISA/MC: 0 AMEX: 0 No 19.99% p.a. 0% p.a. for 15 months with 1.5% balance transfer fee $0 p.a. Go to site More info
28 Degrees Platinum MasterCard
Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
No 21.99% p.a. 4.99% p.a. for 6 months $0 p.a. Go to site More info
ANZ Low Rate Platinum
$250 Back plus 0% p.a. for the first 6 months on purchases from approval.
Yes 0% p.a. for 6 months (reverts to 11.49% p.a.) $99 p.a. 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.
Yes 13.99% p.a. 0% p.a. for 18 months with a one off 3% balance transfer fee $100 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
An interest-free period on both purchases and balance transfers.
VISA/MC: 0.66 AMEX: 0 No 0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Go to site More info
Commonwealth Bank Business Platinum Awards Credit Card
Earn up to 3 Awards points per dollar spent and enjoy a range complimentary insurances.
VISA/MC: 1 AMEX: 3 Yes 20.74% p.a. 5.99% p.a. for 5 months $300 p.a. Go to site More info

Learn more about Platinum Credit Cards

The benefits of banking with Victoria Teachers Mutual Bank

Victoria Teachers Mutual Bank is a mutual which is owned by its customers and reinvests its profits to provide continuing value to its customers through competitive interest rates, fees and products. Find out about some of the perks that come with using their financial products and services: Victoria Teachers Mutual Bank — A customer-owned institution

  • Victoria Teachers Mutual Bank — A customer-owned bank

Mutual Banks are different to most other banks, as these banks are owned by their customers. The Big Four Banks are owned and controlled by shareholders, for instance, and the same goes for most of the better-known financial institutions in Australia. When a mutual bank makes a profit, the money doesn’t go to the shareholders, it goes to you: the customer. Profits are reinvested to the bank and customers benefit from better deals, like a Platinum credit card with a low rate purchase rate of interest.

  • Victoria Teachers Mutual Bank credit card account access

Manage your Victoria Teachers Mutual Bank credit card from home or on the go using the Mobile Banking app or by logging onto Internet Banking. Check your transaction history, transfer money between your accounts or other accounts in Australia, make BPAY payments and much, much more anywhere in the world, any time of the day.

  • Visa card benefits

Victoria Teachers Mutual Bank offer a Visa Classic and  a Visa Platinum card. The benefits of using a Visa credit card include:

    • Low ongoing purchase rate. The Visa Classic credit card offers a low purchase rate of 12.94% p.a. and 9.99% p.a. with the Visa Platinum credit card.
    • Interest-free days. Manage your expenses and purchases with 55 interest free days for the Visa Classic credit card and Visa Platinum credit card.
    • Visa payWave. Make purchases under $100 by touching your Victoria Teachers Mutual Bank Visa credit card against a contactless reader.
    • Visa Zero Liability Policy. Visa gives you a guarantee that you won’t be liable for unauthorised credit card use if you’re the victim of fraud over Visa payment networks (over the counter, contactless and shopping online).
    • Visa Entertainment. Get access to exclusive offers, like advance ticketing options for concerts and sporting events, just by being a Visa cardholder.
    • Platinum cardholder benefits. Take advantage of a range of platinum benefits when you apply for the Visa Platinum credit card. Enjoy complimentary overseas travel insurance and Visa Platinum 24/7 Concierge Services.
  • Account management

Manage your account easily at home or on-the-go anywhere in the world with internet banking or using the mobile banking app. Check your transaction history, transfer money between your accounts, make BPAY payments and much more.

How to apply for a Victoria Teachers Mutual Bank Credit Card

You can apply for a credit card from Victoria Teachers Mutual Bank online by clicking 'Go to Site'. The application can be completed in fifteen to twenty minutes, but you can save and resume the application at any time.

Required information

      • Member. Be a current Member of Victoria Teachers Mutual Bank.
      • Identification. As well as providing basic personal information like your name, date of birth and your residential address, input your driver's licence number and its expiry date, your mobile phone number and your occupation.
      • Income. Provide employment details, including occupation, employer’s contact information (employer name and payroll contact).
      • Income (if self employed). Provide current payslips or at least 2 years tax returns and assessments, other forms of income (e.g. rentals or government pensions).
      • Assets. Details of any assets you own like savings, motor vehicles, personal items, investments like shares, superannuation or property and insured contents value.
      • Liabilities. Details about any liabilities: mortgages, rent, personal/ car loans, credit cards.

What happens next?

You should receive an email from Victoria Teachers Mutual Bank about the status of your credit card application minutes after submitting the online form. You can check on the status of your credit card application by visiting the Victoria Teachers Mutual Bank website.

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Frequently asked questions

We’ve answered some of the most frequently asked questions about Victoria Teachers Mutual Bank credit cards below. You can also ask us a question using the form at the bottom of the page.

What do I need to know about balance transfers?

A balance transfer can be a great way to save money on interest repayments. When you transfer your existing credit card debt to a Victoria Teachers Mutual Bank credit card, you’re given a special interest rate for a limited period of time.

You can apply for a balance transfer when you apply for a Victoria Teachers Mutual Bank credit card online. Simply complete the balance transfer request section of the online application. If you’re approved for the credit card, the balance transfer will be processed automatically once you activate the account.

There are some things you need to know about balance transfers to a Victoria Teachers Mutual Bank credit card.

  • You can include multiple accounts in a balance transfer to a Victoria Teachers Mutual Bank credit card.
  • You can transfer from any Australian issued non-Victoria Teachers Mutual Bank credit card, store card or charge card account.
  • You can use up to your available credit limit on your Victoria Teachers Mutual Bank credit card towards a balance transfer.
  • It’s your responsibility to close the account you’re transferring the balance from, if you wish to do so.
  • Any remaining balance transfer balance will accrue interest at the variable purchase rate of interest.

How do I make a payment to my Victoria Teachers Mutual Bank Credit Card?

There are a number of ways you can pay your Victoria Teachers Mutual Bank Credit Card.

  • Salary credit - Give the bank’s BSB number and your member number (account number) and your salary will be automatically paid to your credit card when you get paid.
  • Electronic funds transfer - Transfer money from another bank’s internet banking facility by entering the Victoria Teachers Mutual Bank BSB number and your account number.
  • In person - You can deposit cash into your credit card from any Commonwealth Bank ATM. You can also pay your account using cash or EFTPOS at any Commonwealth Bank branch. You can also pay your credit card in person at one of the Victoria Teachers Mutual Bank Service Centres.
  • At Australia Post - Pay your credit card at any Australia Post retail outlet using Bank@Post. There are over 3,000 Australia Post retail outlets where you can pay your Victoria Teachers Mutual Bank Credit Card. You can make an unlimited number of deposits at Australia Post for free.
  • By cheque - If you prefer to mail a cheque, you can send a cheque to:
  • Teachers Mutual Bank Hawthorn East Service Centre.

117 Camberwell Road, Hawthorn East, VIC, 3123.

P.O. Box 338.

Camberwell VIC 3124.

How do I activate the travel insurance?

The complimentary international travel insurance offered with the Visa Platinum Credit Card is provided by CGU Insurance Limited. Once you meet the eligibility requirements for the policy, the cover is automatically applied to your journey.

Make note of the following eligibility requirements if you plan on using the travel insurance on your next overseas trip.

Additional cardholders are not covered under the complimentary international travel insurance policy.

  • The primary cardholder’s spouse and dependent children are also covered under the policy for the sections of the trip where they are travelling with the primary cardholder.
  • You must be a permanent Australian resident and plan on returning to Australia at the end of your journey.
  • You’re in good shape and have no prior medical conditions which may interrupt your journey.
  • You have booked a return international travel ticket that departs and returns to Australia. The journey may be up to four months in duration.
  • You must be under the age of 70 when you depart Australia.

How do I set up online banking?

The Victoria Teachers Mutual Bank credit card online banking services can be a great way to conveniently manage your credit card. It allows you to review your recent transactions, view online statements and make payments to other accounts.

It’s easy to register for internet banking. All you need to do to register is call Victoria Teachers Mutual. If you would like to register in person, you can visit a Victoria Teachers Mutual Bank Service Centre with photo identification and the process can be completed on the spot.

What do I need to do if my credit card is stolen or lost?

If you lose your Victoria Teachers Mutual Bank credit card, or it’s stolen, call the bank right away. They will place a block on your account, which will prevent further transactions and ensure you’re not liable for any unauthorised use on your account.

Visa Global Assistance can make arrangements for an emergency cash advance if you’re stuck without money in a foreign country, they can even make arrangements for a replacement card for you to use while you wait for a replacement credit card from Victoria Teachers Mutual Bank.
If you have a VIsa Classic Credit Card, an overseas emergency card replacement fee of $150 applies. This fee is waived for Visa Platinum Credit Cards.

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