FSCU MyCard MasterCard Review

Information verified correct on December 4th, 2016

Pay a discounted annual fee for the life of the card and avail of a special introductory balance transfer rate

The FSCU MyCard Low Rate MasterCard charges a low introductory rate on balance transfers for 9 months, and if you apply in time you can keep paying a discounted annual fee for as long as you keep using your card. Purchases you make using this card receive protection through complimentary insurance covers, and you can get up to 55 interest free days on purchases.

Product NameFire Service Credit Union MyCard Low Rate MasterCard
Balance transfer rate (p.a.)0% p.a. for 9 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.)12.99% p.a.
Offer end date31 January 2017
Annual fee$75 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.)21.74% p.a.
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$25,000
Card TypeMasterCard
Late Payment Fee$10
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 Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Income$25,000
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
Annual Fee$75 p.a.
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$40
Cash Advance Fee$3.50 (or 3.50% of amount when >= $100) for each cash advance
Overseas Cash Advance 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 Cardholders4

FSCU MyCard Low Rate MasterCard Review

This card is good to get if you intend using it for balance transfers, given its low balance transfer rate that stays in place for the first 9 months, and it charges a low ongoing rate on purchases. Use this card in the right manner and you can get up to 55 interest free days on purchases. Being given the opportunity to keep paying a discounted annual fee is a plus as well.

Benefits of the FSCU MyCard Low Rate MasterCard

  • Balance transfer offer

    This card comes with a balance transfer offer where transferred balances attract a low introductory rate of 0% p.a. for the first 9 months. If there’s any outstanding balance from balance transfers at the end of the 9 months period, it starts attracting the card’s cash advance rate.

  • Low purchase rate

    The FSCU MyCard Low Rate MasterCard charges a low ongoing rate on purchases that currently stands at 12.99% p.a. If you carry over balances in your account from one month to the next, this low rate can lead to savings in the form of interest.

  • Complimentary insurance covers

    When you make purchases using your Low Rate MasterCard they receive protection through guaranteed pricing scheme and purchase cover insurance.

  • Use anywhere, anytime

    You can use this card in most countries around the world, given MasterCard’s widespread acceptance. As long as you see the MasterCard logo, you can use this card at EFTPOS terminals and ATMs alike. Like conventional credit cards, you can use this card to make purchases and pay bills over the phone and over the internet.

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Features of the FSCU MyCard Low Rate MasterCard

    • Annual fee - Applying before a certain date enables you to keep paying a discounted annual fee for life for $49 for as long as your account remains active.
    • Balance transfer offer - If you use this card to transfer balances from other cards at the very onset you can keep paying a low balance transfer rate of 0% p.a. for the first 9 months.
    • Interest free days - If you pay your card’s outstanding balance completely before each due date you stand to get as many as 55 interest free days on purchases.
    • Complimentary insurances - Purchase cover insurance and guaranteed pricing scheme offer protection to purchases you make using your Low Rate MasterCard.
    • Additional cardholders - You can request for up to 4 additional cards, but remember that you cannot get an additional card for anyone under 16 years of age.
    • Card security - Fraudshield is in place to detect irregular transactions on your account, and you receive a call immediately upon the detection of any such transaction. When your credit card details make it to the internet, SecureCode provides an added layer of security.
    • MasterCard PayPass - This technology gives you the ability to make contactless payments of under $100.
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How to apply for the FSCU MyCard Low Rate MasterCard

Visit an FSCU branch or speak to an FSCU representative over the phone to seek step-by-step assistance with the application process; or download an application form, complete it, and mail, fax, or drop it at any FSCU branch.

Before applying, establish if you meet the following eligibility criteria:

      • You’re a permanent Australian resident
      • You’re at least 18 years old
      • You earn a minimum taxable income of $25,000 p.a.
      • You don’t have poor creditworthiness

To complete the application you have to part with different types of information, which comprises the following:

      • Personal details like your date of birth, marital status, and number of dependents
      • Job related information such as your employer’s name and contact details along with your employment status
      • Financial information surrounding your income, expenditure, assets, and liabilities

The balance transfer offer and its low ongoing rate on purchases makes this MasterCard worth considering, but since you can find similar features in other cards, take some time to compare a few before applying.

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Credit Cards Comparison

Rates last updated December 4th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
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
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Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
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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.
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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
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.
19.99% p.a. $199 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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