Heritage Bank Classic Visa credit card

Earn Heritage Credits as you spend and redeem them for gift cards, retail items and charity donations.

The Heritage Bank Classic Visa has a $55 annual fee that’s waived when you spend at least $25,000 on purchases.

It offers 1 Heritage Credit for every $1,300 you spend on purchases in each calendar month, with the potential to earn more if you have other eligible Heritage Bank accounts.

Amy Bradney-George

Last Updated May 6, 2020

16.99% p.a.

Purchase rate

Reward points

Per $ spent

$55 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	Heritage Bank Classic Visa Credit Card
Rewards program	Heritage Credit Rewards
Purchase rate	16.99% p.a.
Annual fee	$55
Interest-free period	Up to 55 days on purchases
Cash advance rate	18.99% p.a.
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	No
Joint application	No

Pros

$55 annual fee is waived if Visa purchases within the calendar year exceed $25,000
Up to 55 days interest-free on purchases

Cons

Earn rate of 1 Heritage Credit per $1,300 spent is not competitive when compared to the average among other cards of 1:1.

Rewards program	Heritage Credit Rewards
Bonus points	N/A

Annual fee	$55
Minimum monthly repayment	3% of the closing balance or $30, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
Additional cardholder fee	$7.50

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Heritage Bank Classic Visa is one of the few cards to offer an annual fee waiver each year, with a spending requirement that works out to be an average of $2,084 per month (rounded to the nearest dollar).

If you already have accounts that earn Heritage Credits, this card could also help you earn rewards faster. But, as there are very limited public details on the reward options, it is worth comparing other credit cards to decide if it is right for your goals.

How to apply

You can apply for the Heritage Bank Classic Visa credit card by calling 1300 272 197 or by filling in an enquiry form on the Heritage Bank website. Get started by making sure you meet the following eligibility requirements and have all the details you need to complete an application.

Eligibility criteria

Residency. You must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This covers your full name, date of birth, email address, phone number, residential address, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver's licence number.
Employment details. This includes your job title, length of employment and employer's contact details. You may also need to provide recent payslips or bank statements as supporting documentation.
Financial details. This covers any other forms of income, such as government payments, as well as assets including savings and shares. You also need to provide details of existing loans, cards and debts, along with estimates of your monthly living expenses.

Card benefits

Earn Heritage Credits. For every $1,300 spent on Visa purchases in one calendar month, you will earn 1 Heritage Credit. You can redeem your credits for a choice of retail rewards, gift cards or charity donations, with credit requirements and details available when you log in to your account or call the bank. As an example of the rewards available, a newsletter on the Heritage Bank website (pdf) shows you could get a Myer gift card from 4 credits, or a noise cancelling headphones for 61 credits plus freight. Log in to your account or call 13 14 22 and choose option 8 to find out what rewards are currently available.
Annual fee waiver. If you spend at least $25,000 on purchases in a year, the $55 annual fee on this card will be waived.

Visa benefits. Get access to exclusive travel, shopping, dining and entertainment promotions through Visa Offers + Perks. When you shop online, you can also get an added layer of security through the Verified by Visa service.
Mobile payments. Heritage Bank credit cards are compatible with Google Pay and Samsung Pay, as well as Garmin Pay and Fitbit Pay. This means you can make on-the-go payments from your mobile phone or other eligible device.

Rates & fees

Purchase rate. An interest rate of 16.99% p.a. applies to purchases made with this card.
Interest-free days. This card offers up to 55 days interest-free on purchases if you pay the closing balance in full by the due date on each statement. Note that cash advances are not eligible for interest-free days.

Cash advances. If you use this card to withdraw cash, a fee worth 2% of the withdrawal amount (minimum fee of $2.50) applies. An interest rate of 18.99% p.a. also applies from the date of the transaction.
Currency conversion fee. A fee of 3% applies to transactions made overseas or online in a foreign currency.

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Heritage Bank Classic Visa credit card