G&C Mutual Bank Low Rate Visa Credit Card – Rates and details

Information verified correct on December 11th, 2016

Pay 0% p.a. on balance transfers for 12 months, and a low interest rate on purchases.

The G&C Low Rate Visa Credit Card can be used globally, since Visa is so broadly accepted. This card comes with a promotional offer where transferred balances attract 0% p.a. interest for the first 12 months.

A low ongoing interest rate applies on purchases. You have to pay a nominal annual fee. If you use the card in the right manner, you can receive up to 50 interest-free days on purchases.

Product NameG&C Mutual Bank Low Rate Visa Credit Card
Balance transfer rate (p.a.)0% p.a. for 12 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (15.99% p.a.)
Maximum Balance Transfer Amount$75
Purchase rate (p.a.)9.49% p.a.
Annual fee$50 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 50 days on purchases
Cash advance rate (p.a.)15.99% 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.
$1,000
Minimum Monthly RepaymentGreater of 5% or $20
Card TypeVisa
Late Payment Fee$25
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.
2.85% 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.
$1,000
Annual Fee$50 p.a.
Minimum RepaymentGreater of 5% or $20
Late Payment Fee$25
Cash Advance Fee$5
Overseas Cash Advance Fee$5.00
Overseas Emergency Replacement$20
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.
2.85% of transaction value
BPAYYes
ChequeYes
Direct DebitYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

G&C Low Rate Visa Credit Card review

If you’re the kind of credit card user who keeps balances in the account rolling over from one month to the next, you can definitely benefit from the low purchase rate that this card charges. You can also save considerably if you use this card to transfer balances from existing non-G&C Mutual credit cards, given that you don’t have to pay any interest on transferred balances for the first 12 months.

If you pay your account’s closing balance in full each month, you can also take advantage of up to 50 interest-free days.

Benefits of the G&C Low Rate Visa Credit Card

  • Low purchase rate. This card charges a low ongoing rate of 9.49% p.a. on purchases, including in-store, online and over-the-phone purchases. This low interest rate can help you save in the long run, especially if you struggle to pay your balance in full each month.
  • Balance transfer offer. If you have outstanding balances on existing credit and store cards, you could consider transferring the balances with an introductory 0% p.a. balance transfer rate for the first 12 months. The maximum you can transfer is 75% of your card’s approved limit.
  • Easy access to funds, anytime. You can use this credit card wherever Visa is accepted internationally, including at ATMs and EFTPOS terminals, as well as online, mobile, and phone transactions.

G&C Low Rate Visa Credit Card features

  • Annual fee. There is an annual fee of $50 for as long as your account remains active.
  • 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, and you remain liable for all transactions made using this card.
  • Minimum credit limit. The minimum credit limit of this low rate Visa credit card is $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.
  • Verified by Visa. This online service provides additional security when making online purchases. your card details make it to the internet.
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How to apply for the G&C Low Rate Visa Credit Card

You can visit a G&C Mutual Bank service centre to apply, you can apply over the phone, you can apply online, and you can also download and print an application to submit by post.

Eligibility

To apply online, simply click on the ‘Go to Site’ button, after confirming that you meet the following criteria:

  • Minimum age. You’re at least 18 years old.
  • Residency. You’re a permanent resident of Australia.
  • Credit history. You have good credit history.

Documentation

To successfully complete the application you have to provide the following information:

  • Personal details. These include your name, date of birth, marital status, number of dependants, home address, phone number, and email address
  • Employment details. Your employment status along with your employer's name and contact details
  • Business details. If you’re self-employed, your occupation and the name of your business
  • Financial details. Details of your income and expenditure
  • Existing liabilities. Details of existing liabilities like loans and credit cards

If you’re looking for a no-frills credit card and are considering transferring balances, this low rate credit card may be of interest. As you can find other low rate cards with balance transfer offers on the market, make sure to compare a few before applying.

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Credit Cards Comparison

Rates last updated December 11th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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