The First Option Credit Union's Low Rate Visa Credit Card has one of the most competitive credit card interest rates on the market today. If you are looking for credit outside of your personal savings account, this card is the perfect solution. It will help you as an emergency fund, standing in to help with car repairs, medical bills, home repairs, and other unexpected expenses that might completely drain your savings account. It will also come in handy for purchases made over the telephone and on the Internet. With all the conveniences offered by the First Option Credit Union's Low Rate Visa Credit Card, you'll want to keep it in your wallet at all times.
|Product Name||First Option Credit Union Low Rate Visa Credit Card|
|Balance transfer rate (p.a.)||11.99% p.a. for an ongoing number of months|
|Purchase rate (p.a.)||1.99% p.a. for 6 months (reverts to 11.99% p.a.)|
|Annual fee||$0 p.a.|
|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.)||11.99% 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.
|Foreign Currency Conversion Fee (VISA)|
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.
|2% of transaction value|
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$0 p.a.|
|Minimum Monthly Repayment||3% or $25 whichever is greater|
|Late Payment Fee||$0|
|Overseas Cash Advance Fee||$175|
|Overseas ATM Withdrawal Fee||$0|
|Foreign Currency Conversion Fee|
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.
|Gambling Transactions Allowed||No|
|Additional Cardholder Fee||$0|
You can get a First Option's Low Rate Visa Credit Card free. There is no application fee for this card. It also offers a low interest rate of 1.99% p.a. for 6 months (reverts to 11.99% p.a.) on all of your purchases, and a grace period of 55 days to pay off your purchase before you start paying interest on it. You'll have a $2 monthly fee with this card, which is quite minimal when you look at the sometimes crippling annual rates of most cards. With this monthly fee, you can pay it off without even feeling a sting, and certainly before you have to pay any interest on it. This is in contrast to the cards with annual fees that hit your account at Christmas time when you can least afford to pay them off. You have no annual fee with this card only the low monthly fee.
The First Option Credit's Low Rate Visa Credit Card, is recognised all over the world. You can use this card for purchases or cash advances anywhere the VISA emblem is displayed, as well as online and over the phone. You can also use it at any ATM that displays the VISA logo.
Choose Your Account
Once you have a First Option Credit Union Visa Credit Card, you have the freedom to open an A1 Access Saver account. Once you have an Access Saver account, you can link it to your credit card account. This is a brilliant use of resources, as you can choose to access either account via your Visa Credit Card. You can choose to activate accounts for other purposes if you want.
One of the handiest functions of your First Option Credit Union Low Rate Visa Credit Card is that you can pay bills with it. This is especially handy if you are on holiday. Since you are eligible to open an Access Saver account, it makes it very easy to manage money through the two accounts. You can authorise your bills to be paid through your credit card account or via your savings.
If you need a conversion of overseas transactions, you can do it through your First Option Credit Union Low Rate Visa Credit Card. It carries a charge of 2% of the transaction value. If you need an emergency cash advance while overseas, it's a $175 charge. However, remember that you can get cash advances through ATM machines wherever they are, as long as they take VISA.
Code Of Conduct
The First Option Credit Union operates according to the Mutual Banking Code of Practice. They also abide by the EFT Code of Conduct concerning electronic fund transfers. This insures your privacy concerning any personal information on or about your account. You can view the privacy agreement at www.firstoptioncu.com.au.
How To Contact Them
First Option Credit Union has phone numbers, fax numbers, websites, mailing addresses, and email addresses in numerous states available for your convenience. They even offer several physical addresses if you should want to see someone in person. There are also hot-lines for lost or stolen cards that are available every hour of the day, every day of the week. You also call these numbers to report unauthorised use. They even request that you contact then before you travel overseas, so they can give you the most up to date VISA Hotline information.
Getting A Card
Getting a First Option Credit Union's Low Rate Visa Credit Card is quite easy. All you need is a photo ID as required by law. This can be a photo card in New South Wales, or a State or Territory driving licence card. If you have a proof of age card, that will work. If you have a driving licence with a photo on it that has been issued by another country, that will work, as well. You can also use a current Australian passport, or any national ID card that has been issued by an overseas government, a UN agency, or the United Nations. This card must have your photo and signature.
You can issue authorisation for a third party to have access to your accounts. However, this authorisation must be done in writing, and the 3rd party must bring a photo ID to verify his identity. You will be held responsible for all of the transactions your 3rd party makes on your account. If you change your mind, you can revoke this person's privileges in writing.
Sometimes you'll find yourself in the unfortunate situation of not getting the goods or services you paid for. In this case, you can contact First Option Credit Union and get a chargeback. You can do this is there is an unauthorised purchase. Also, if a merchant does not provide services he promised, or provides faulty merchandise, you can get the payment reversed so that you don't have to pay for services not rendered. Just be sure to contact them within forty-five days of the supposed transaction. There are some circumstances in which you may have longer, but to be on the safe side, keep it within the forty-five days.Back to top