CreditLine

Shop interest-free at Apple both in-store and online but watch out for the revert interest rate.

The CreditLine credit card from Latitude Financial offers interest-free finance for purchases of $150 or more at Apple. While actual offers vary by promotion, you can expect to up to 60-month 0% interest payment plans throughout the year – along with other seasonal offers of different lengths.

Similar to other interest-free finance products, this could be useful if you need to pay for big expenses but don’t have enough savings to pay for it all at once. But keep in mind that an interest rate of 22.99% p.a. applies if you don’t pay off the entire purchase by the end of the promotional period.

22.99% p.a.

Purchase rate

$59.4 p.a.

Annual fee

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Details

Product NameCreditLine
Balance transfer revert rateCash Advance Rate (22.99% p.a.)
Purchase rate22.99% p.a.
Annual fee$59.40
Interest-free period0 interest free days
Cash advance rate22.99% p.a.
Min credit limit$1,000

Pros

  • Offers 0% interest offers on purchases of $150 or more at Apple
  • Monthly fee is refunded when your outstanding balance is less than $10
  • Includes flexible payment options

Cons

  • No rewards program or perks
  • Very high interest rate on purchases & cash advances
Bonus pointsN/A
Annual fee$59.40
Minimum monthly repayment3% of the closing balance or $25, whichever is greater
Late payment fee$30
Cash advance fee3% or $3, whichever is greater
Number of additional cardholders1

How to apply

You can apply for CreditLine online or in-store at Apple when you're taking out a 0% p.a. interest payment plan. It's a good idea to check that you meet the following eligibility criteria and have all the documents and details needed to complete the application.

Eligibility criteria

  • Residency. Australian citizens and permanent residents are eligible to apply.
  • Credit history. You should only apply for this card if you have a clean credit file. You can check your credit score for free through Finder.

Card benefits

  • Interest-free payment plans. These plans vary by purchase amount and promotional period, but as an example you could get 0% interest for:
    • 6 months on purchases from $150 - $299
    • 12 months on purchases from $300 - $599
    • 24 months on purchases of $600 or more
  • Instant activation. You don't need to wait for your physical card to arrive. If approved, you'll be able to shop with just your account number right away.

Rates & fees

  • Monthly fee. The CreditLine credit card charges a monthly account service fee of $4.95. This will be waived if your balance is less than $10. If you pay the monthly service fee each month, it would add up to $59.40 over a year.
  • Purchase rate. Outside of any promotions, this card charges a standard interest rate of 22.99% on purchases.

Compare other credit cards with instalment plans

$
Name Product Purchase rate Balance transfer rate Annual fee Interest-free period Amount saved
Bankwest Breeze Classic Mastercard
0% p.a. for 15 months, reverts to 9.9% p.a.
0% p.a. for 15 months
$0 annual fee for the first year ($49 p.a. thereafter)
Up to 55 days on purchases
Save with 0% p.a. on purchases and balance transfers for 15 months (with no BT fee). Plus, a $0 first-year annual fee.
Citi Rewards Card - Purchase and Balance Transfer Offer
0% p.a. for 14 months, reverts to 21.49% p.a.
0% p.a. for 14 months
$49 annual fee for the first year ($149 p.a. thereafter)
Up to 55 days on purchases
Save with 0% on purchases and balance transfers for 14 months with no balance transfer fee. Plus, $49 first-year annual fee.
Bendigo Bank Low Rate Credit Card
0% p.a. for 18 months, reverts to 11.99% p.a.
13.99% p.a.
$45
Up to 55 days on purchases
Save on interest costs with 0% p.a. on purchases for up to 18 months (reverts to 11.99% p.a.). Plus, a $45 annual fee.
humm90 Mastercard
23.99% p.a.
$0 annual fee for the first year ($99 p.a. thereafter)
Up to 110 days on purchases
Offers $400 cashback when you spend $4,000 on eligible purchases within the first 120 days. Plus, a $0 first-year annual fee.
Bankwest Breeze Platinum Mastercard
0% p.a. for 15 months, reverts to 9.9% p.a.
0% p.a. for 15 months
$0 annual fee for the first year ($69 p.a. thereafter)
Up to 55 days on purchases
Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.
Bendigo Bank Platinum Rewards Credit Card
0% p.a. for 12 months, reverts to 19.99% p.a.
21.99% p.a.
$89
Up to 55 days on purchases
Offers 0% p.a. for up to 12 months on purchases, complimentary travel and purchase insurance options for an annual fee of $89.
St.George Vertigo Card
0% p.a. for 6 months, reverts to 13.99% p.a.
0% p.a. for 32 months
$0 annual fee for the first year ($55 p.a. thereafter)
Up to 55 days on purchases
Get a 0% interest rate on balance transfers for 32 months (with no balance transfer fee) and a $0 annual fee for the first year.
St.George No Annual Fee
0% p.a. for 12 months, reverts to 20.74% p.a.
$0
Up to 55 days on purchases
Save with a 0% p.a. interest rate offer and a $0 annual fee. Plus, a minimum credit limit of $500.
NAB StraightUp Card
0% p.a.
$0
Save with 0% interest charges and 0% foreign transaction fees. Plus, $0 monthly fees when you don't use the card or carry a balance.
BankSA No Annual Fee
0% p.a. for 12 months, reverts to 20.74% p.a.
$0
Up to 55 days on purchases
Offers 0% p.a. on purchases for 12 months and an ongoing $0 annual fee.
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2 Comments

    Default Gravatar
    Sonia
    May 26, 2017

    Are pensioners with a good record accepted?

      Avatarfinder Customer Care
      Harold
      May 26, 2017

      Hi Sonia,

      Thank you for your inquiry.

      If you’re referring to CreditLine interest-free payments, the answer is yes. They can accept pensioners. However, you must ensure you meet their eligibility criteria:

      • You must be at least 18 years old.
      • You must be a permanent resident of Australia.

      Aside from CreditLine, you can check our list of pensioner loans. On that page, there’s a table that you can compare your options. Read through the page, learn more about your loans, and select the “Go to site” button of your chosen lender.

      I hope this information has helped.

      Cheers,
      Harold

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