Heritage Bank Freedom Visa Credit Card Review

Get a credit card that allows you to enjoy $0 annual fee for the first year and competitive interest rate on purchases.

The Heritage Bank Freedom Visa Card is suitable for making small everyday purchases, given that it comes with a credit limit of $500. Cardholders can get up to 55 interest-free days on purchases. If you have a Heritage Bank transaction account, you can link it to this card, so you end up using a single card. You don’t have to pay an annual fee for the first year.

Product NameHeritage Bank Freedom Visa Credit Card
Purchase rate (p.a.)17.99% p.a.
Annual fee$0 p.a. annual fee for the first year ($18 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.)17.99% 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.
$500
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$500
Minimum Monthly Repayment3% or $30, whichever is greater
Card TypeVisa
Late Payment Fee$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.
3% of transaction value
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
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$500
Annual Fee$0 p.a. annual fee for the first year ($18 p.a. thereafter)
Minimum Repayment3% or $30, whichever is greater
Late Payment Fee$20
Cash Advance Fee2% of the withdrawal amount (minimum fee of $2.50)
Overseas Emergency Replacement$200 (when delivery requested within 5 days)
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.
3% of transaction value
Additional Cardholder Fee$7.50 p.a.
BPAYYes
Phone BankingYes
Internet Banking TransfersYes

Heritage Bank Freedom Visa Credit Card review

If you’re looking for a credit card that can help keep your expenses in check, the $500 limit that the Heritage Bank Freedom Visa Card offers could suit your needs.

Benefits of the Heritage Bank Freedom Visa Card

  • Annual fee waiver. While this card attracts an $18 annual fee that you have to pay for the life of the card, you don’t have to pay it in the first year. Subsequently, if your purchases exceed $10,000 during any 12-month period, you can look forward to an annual fee waiver in the following year.
  • Personalise your card. Heritage Bank gives you the ability to personalise your Visa card using practically any photo, and you can change your card with a new photo as often as you like. Just keep in mind you'll have to pay a nominal fee each time.
  • Visa Entertainment. Access to Visa Entertainment brings with it an array of experiences like concerts, cinema, and sporting events, as well as a range of offers and prizes.

Heritage Bank Freedom Visa Credit Card features

  • Annual fee. Cardholders don’t have to pay any annual fee for the first year, and they can look forward to an annual fee waiver if their spending exceeds $10,000 in any 12-month period.
  • Interest-free days. If you pay your account balance in full at the end of each month you can get as many as 55 interest-free days on purchases.
  • Personalise your card. By paying a small fee you can get your card to display the photo of a loved one, or any other photo.
  • Link transaction account. You can link your Heritage Bank transaction account to your Freedom Visa card, thereby reducing the number of cards you carry.
  • Visa payWave. For purchases under $100, you can use this payWave-enabled card to make contactless payments.
  • Card security. The microchip technology this card uses protects your credit when using it in-store. When you use this card to make online payments, Verified by Visa provides an extra layer of security.

How to apply for the Heritage Bank Freedom Visa Card

One way to apply is to visit a Heritage Bank branch, another is to get started over the phone, and you can also submit your application online.

Eligibility criteria

  • You’re a permanent resident of Australia.
  • You’re at least 18 years old.

Required documents

  • Personal details like your date of birth, marital status, phone number, residential address, and email address
  • Employment-related information like your employer’s name, address, and phone number, along with how long you've been working there
  • Financial details, which include your income, expenditure, liabilities, and assets

Consider applying for this credit card if you want access to a low credit limit and also want the benefits of a low interest rate. You should compare this with similar offerings on the market before you apply.

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