CUA Low Rate Credit Card – Rates and fees

Consolidate your debt with a 0% p.a. for 13 months balance transfer offer, enjoy a $0 annual fee for the first year and save with a low ongoing rate of 11.99% p.a. on purchases.

The CUA Low Rate Credit Card charges a special introductory interest rate for 13 months on balance transfers. This card provides up to 55 interest-free days on purchases and charges $0 annual fee for the first year.

Product NameCUA Low Rate Credit Card
Balance transfer rate (p.a.)0% p.a. for 13 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)11.99% p.a.
Annual fee$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Minimum Monthly Repayment3.00% or $35, whichever is higher
Card TypeMasterCard
Late Payment Fee$12.50
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Annual Fee$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Minimum Repayment3.00% or $35, whichever is higher
Late Payment Fee$12.50
Over Limit Fee$15
Cash Advance Fee2% of the cash advance amount, with minimum of $3.50
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders9
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

Pros

  • This card attracts $0 annual fee for the first year ($49 p.a. thereafter).
  • Consolidate your debts at a rate of 0% p.a. for the first 13 months.
  • A low ongoing rate of 11.99% p.a. applies.
  • Enjoy up to 55 days interest-free on purchases.

Cons

  • This credit card does not have a rewards program.

CUA Low Rate Credit Card review

If you want a credit card that allows you to transfer balances from existing cards and charges a low introductory rate, you can consider applying for the CUA Low Rate Credit Card. Pay your account’s outstanding balance in full each month you can have up to 55 interest-free days on purchases. If you keep balances rolling from one month to the next, you can benefit from this card’s low ongoing rate on purchases.

Benefits of the CUA Low Rate Credit Card

  • $0 annual fee for the first year. Customers can save more money with the CUA low Rate card's waived annual fee for the first year (reverts back to $49 p.a. thereafter).
  • Balance transfer offer. If you have credit cards that charge high interest rates and are thinking about transferring their balances, you can take advantage of this card’s special introductory rate on balance transfers that will stay in place for 13 months. At the end of the introductory period, any outstanding balance from balance transfers will attract interest at the card's cash advance rate.
  • Easy access to funds and account information. Given its Mastercard connection you can use this card just about anywhere in the world, at EFTPOS terminals and at ATMs. All you have to do is look for the Mastercard logo. If you see the PayPass logo you can use this card to make contactless payments of under $100. Accessing account related information is easy, and you can do so via online and phone banking.

CUA Low Rate Credit Card features

  • Annual fee. This card charges no annual fee for the first year ($49 p.a. thereafter).
  • Purchase rate. This card allows you to save money on purchases with its low ongoing interest rate at 11.99% p.a.
  • Interest-free days. If you pay your account’s closing balance in full every billing cycle, you can get as many as 55 interest-free days on purchases.
  • Complimentary insurances. Purchases you make using your CUA Low Rate Credit Card receive protection through two different insurance covers.
  • Additional cardholders. As the primary cardholder, you can ask for up to 9 additional cards for free.
  • Card security. This card comes with an embedded microchip, which offers noticeably more protection against fraud in comparison to cards that use magnetic strips. Fraudshield is in place to monitor transactions and detect fraudulent or unusual activity.

How to apply for the CUA Low Rate Credit Card

If you think that the CUA Low Rate Credit Card is the right card for you, you can apply for this card by visiting any CUA branch or by completing the online application form. Make sure you meet the following eligibility requirements before you apply.

Eligibility criteria

Take into account that you have to meet the following eligibility criteria in order to apply:

  • Age. You’re at least 18 years of age.
  • Residential status. You’re a permanent resident of Australia.
  • Others. Check for other criteria that will also apply.

Required documents

The application requires that you provide different types of information, which fall into four categories: different types of personal, job-related, and financial information, so prepare to provide the following:

  • Personal details. These include your name, contact information, number of people dependent on your income, etc.
  • Employment details. Job-related information comprises your employment status and your employer’s name and contact details.
  • Personal income and expenses. Provide details of your before and after-tax salary, your share of monthly expenses and your current loans.
  • Credit limit request. What credit limit are you after? Include this in your application.

Its low ongoing rate does make the CUA Low Rate Credit Card worth considering, and its introductory rate on balance transfers is a definite plus. Remember, though, that there are other cards that offer similar features, so make sure you compare a few before applying.

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12 Responses to CUA Low Rate Credit Card – Rates and fees

  1. Default Gravatar
    Liv | June 21, 2017

    Hi, I am just wondering if the balance transfer offer allows me to transfer the balance of my husband’s existing creditcard?
    Kindest regards,
    Liv

    • Staff
      Jonathan | June 22, 2017

      Hi Liv!

      Sounds like a plan for me! Most banks will allow you to do this, and some may require you to have your husband’s name included as an additional cardholder or simply a joint card type.

      You can read our full guide right here. If you wish to apply, click “Go to Site” green button of your chosen issuer to proceed with your application.

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    Ella | June 20, 2017

    I’m currently receiving Disability Pension, Family Tax A and B and Child Support. I am a single parent with two children. Does CUA accept these as an income? I want a credit card for emergency/piece of mind reasons. I was told that CUA accept certain pensions as income. I don’t want to apply if my government income is not going to be accepted. Cheers!

    • Staff
      Jonathan | June 21, 2017

      Hi Ella!

      CUA Credit Card application would require you to submit a proof of income. In your case, you may submit the following as verification documents:
      - Your recent Centrelink benefit statement or
      - Your personal tax return for the last 2 years or
      - Your pension/annuity statement or
      - Your recent Financial Institution statement showing one month of benefit receipts or
      - Letter from your financial planner advising of current/planned superannuation drawings

      Hope this clarifies.

      Cheers,
      Jonathan

  3. Default Gravatar
    amit | May 5, 2017

    Hi is there any balance transfer fees in this card?

    • Staff
      Harold | May 5, 2017

      Hi Amit,

      Thank you for your inquiry.

      With CUA Low Rate Credit Card you can take advantage of this card’s special introductory rate of 0% p.a. on balance transfers that will stay in place for 13 months. At the end of the introductory period, any outstanding balance from balance transfers will attract interest at the card’s cash advance rate.

      I hope this information has helped.

      Cheers,
      Harold

  4. Default Gravatar
    nicole | April 23, 2017

    If you transfer a balance from an existing credit card, is there 0% interest on that balance?

    • Staff
      Anndy | April 23, 2017

      Hi Nicole,

      Thanks for your question.

      The CUA Low Rate Credit Card has 0% p.a. on balance transfers for 13 months.

      Cheers,
      Anndy

  5. Default Gravatar
    Talia | March 24, 2017

    Are you allowed to go over the credit card limit or do you need to go for a different card?

    • Staff
      Harold | March 24, 2017

      Hi Talia

      Thank you for your question.

      If you are referencing with the balance transfer, typically, lenders will only allow the client with a percentage of the credit limit (between 70% and 100%). You can always clarify this information with your provider to make sure you are doing the best options that is applicable with your circumstances.

      I hope this information has helped.

      Cheers,
      Harold

  6. Default Gravatar
    Casimo | July 5, 2016

    Are the rates for checking balances or withdrawing cash at overseas ATMs available for this card? Also, the fee (if any) replacing the card if lost while overseas?

    • Staff
      May | July 22, 2016

      Hi Casimo,

      Thanks for your inquiry.

      Just to confirm that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually CUA.

      Sorry for the delayed reply. Fees for checking the balance and withdrawing cash from ATM overseas were not listed in the CUA credit card schedule of fees and charges, though the bank charges 2% of the cash advance amount, with minimum of $3.50 and 3.4% of transaction value for foreign currency conversion for their Low Rate Credit Card. CUA also charges $30 for an overseas replacement card.

      For your reference, I’ve sent you the link to CUA’s schedule of fees.

      I hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated June 23rd, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent in the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
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
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 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.
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
NAB Premium Card
An introductory rate of 0% p.a. for 20 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 20 months with 2% balance transfer fee $90 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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