The G&C Low Rate Visa is suited to people who want to keep their credit card costs down. As well as the very low 7.49% p.a. purchase rate, it offers up to 50 days interest-free if you pay the total balance listed on your statement by the due date. Its annual fee is also similar to other no-frills cards but it doesn't offer the perks you can find on cards with higher annual fees, such as rewards or complimentary insurance.
G&C Mutual Bank Low Rate Visa Credit Card
- Purchase rate
- 7.49% p.a.
- Annual fee
- $50 p.a.
- Interest-free on purchases
- Up to 50 days
7.49% p.a. interest rate on purchases
Competitive $50 annual fee
Up to 50 days interest free on purchases
3% international transaction fee
No perks like rewards or complimentary insurance
|Product Name||G&C Mutual Bank Low Rate Visa Credit Card|
|Purchase rate p.a.||7.49%|
|Interest-free period||Up to 50 days on purchases|
|Cash advance rate p.a.||15.49%|
|Min credit limit||$1,000|
|Max credit limit||$75,000|
|Available to temporary residents||No|
|Minimum monthly repayment||3% of the closing balance or $20, whichever is greater|
|Late payment fee||$15|
|Foreign currency conversion fee||3%|
|Cash advance fee||$5|
|Overseas cash advance fee||$5|
How to applyYou can apply for the G&C Mutual Bank Low Rate Visa online through the bank's website. To get started, you’ll meet the eligibility requirements and make sure you have all the details and documents needed for the application.
- Residency. You must be an Australian or New Zealand citizen, or an Australian permanent resident.
- Employment. You must be eligible to work in Australia and have employment or earn a regular income.
- Credit history. You need a good credit score and can't be going through the process of bankruptcy.
- Age. You must be at least 18 years old.
- Personal details. This includes your full name, marital status, number of dependents, email address and contact information. If you’re applying for an additional cardholder, you’ll need to provide their personal details too.
- Employment. This includes your employment status and how much you earn before tax.
- Finances. You’ll be asked to list your estimated living expenses as well as any existing credit cards, loans or other financial commitments. You’ll also be asked to confirm your assets including any savings or investments.
- Low purchase rate. This card's 7.49% p.a. interest rate for purchases is one of the lowest on the Australian credit card market.
- Visa perks. You can use your card at millions of locations wherever Visa is accepted, including for contactless payments. It also offers Visa Secure for eligible online purchases and exclusive discounts and deals through Visa Offers and Perks.
- Banking app. You can view your transaction history, check account balances and transfer funds on-the-go with the G&C Mutual Bank app.
Rates & fees
- Annual fee. The G&C Mutual Bank Low Rate Visa has a $50 annual fee, which is similar to other basic, low rate credit cards.
- Cash advances. If you use your card to withdraw cash or make another cash advance transaction, you'll immediately collect the 15.49% p.a. interest rate. You'll also be charged a $5 cash advance fee.
- Interest-free days. You can make use of as many as 50 interest-free days on purchases if you pay your account’s closing balance before each due date.
- Additional card. You can request an additional card for any relative over 18 years of age. The card will be linked to the same account and you remain liable for all transactions made using this card.
- Minimum credit limit. You can apply for a credit limit starting at $1,000.
- Visa Checkout. You can use Visa’s digital wallet service and simplify your shopping experience without needing to enter your personal and card details across multiple sites.
- PayWave. This credit card is PayWave enabled, so you can use it to make contactless payments for purchases less than $100.
- Visa Security. This online service provides additional security when you use your card to shop online.
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September 04, 2017
We r travelling this Thursday afternoon (6pm) to Perth
We cd use a credit card to satisfy Avis Car rental re excess on insurance
We have not had a credit cad for ?15 years Dont really need one except as above
we are aged pensioners with an investment property & proprietary interest in a building business
Is it possible to get a credit card before we leave on Thursday
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September 04, 2017
Thank you for your question.
It usually takes 5-10 working days for your card to be processed and be delivered to you. Therefore, it may already be too late on Thursday.
We recommend instead that you consult our listed insurers to inquire for a quote and policy cover for your needs.
Hope this helps.
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