Heritage Isle Credit Union Low Rate Mastercard

The Heritage Isle Low Rate Mastercard gives you the ability to spend without the bright lights and expensive fees associated with platinum or rewards cards.

Important information

The Heritage Isle Credit Union Low Rate Mastercard is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested.

You can compare the current range of low rate credit cards here.

With all the rewards cards on the market it's hard to justify getting a low cost, no frills credit card. A low rate card is designed for those who might have to pay their balance off and therefore will benefit from a lower purchase rate, and that's where cards like the Heritage Isle Credit Union Low Rate Mastercard come into the picture.

Heritage Isle Low Rate Mastercard review

The Heritage Isle Credit Union Low Rate Mastercard might not get you all excited about future holidays to exotic locations. It should get you excited about the fact that you won't be burdened by the strict terms, high interest rates, and painful annual fees that usually go along with more expensive cards. Not everyone is interested in exotic destinations. Some people are simply interested in finding a credit card to serve as a backup plan when unexpected expenses occur.

This card offers a low ongoing purchase rate of 12.99% p.a. with up 55 interest-free days on eligible purchases. A complimentary purchase cover and guaranteed pricing insurance is also included when you apply with this card.

Benefits of the Heritage Isle Low Rate Mastercard

  • Low interest rates. This card comes with a low ongoing interest rate of 12.99% p.a. on purchases, which means that you’ll spend less paying off any balances.
  • Interest-free days. You can enjoy up to 55 interest-free days with this card. The actual amount of days you'll receive will depend on when during your statement cycle you make a purchase. If you make the purchase on the first day of your statement cycle you'll receive 55 days before you need to pay it off, but the later in the statement cycle you buy an item the less interest-free days you'll have.
  • Purchase cover insurance. Purchase cover protects the items you buy using this card from theft, loss or accidental breakage. The item is covered for up to 90 days after it's purchased, and you must make a claim within 21 days. Cover limits apply.
  • Guaranteed pricing scheme. If you buy an item and find it cheaper later this policy kicks in to reimburse you the difference as long as it's more than $75 and less than $500. The item must be found within 25 km of the original item and have the same serial number. It must also be made within 60 days.

Features of the Heritage Isle Low Rate Mastercard

  • Annual fee. This card attracts a low annual fee of $75.
  • Purchase rate. You'll get charged an interest rate of 12.99% p.a. for your purchases.
  • Balance transfer rate. Consolidate your debts without paying any interest in the first 9 months. After the promotional period expires, the interest rate reverts to the cash advance rate (21.74% p.a.).
  • Interest-free days. You'll also enjoy an extended period of up to 55 days without attracting any interest rate.
  • Additional cardholders. You can add up to 4 additional cards linked to your account without paying extra fees.
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