Horizon Bank Visa Credit Card
Pay no annual fee ever and enjoy an introductory interest rate of 4.99% p.a. for the first 5 months.
This Visa credit card from Horizon Bank is both a no annual fee and low rate product. As a promotion for new customers, Horizon Bank charges just 4.99% p.a. on all your account balances for the first 5 months. At the end of the introductory period, a low rate of 12.95% p.a. applies to your balance.
Balance transfer rate
for 5 months
for the first 5 months (reverts to 12.95% p.a.)
Interest free period
|Product Name||Horizon Bank Visa Credit Card|
|Balance transfer rate||4.99% p.a. for 5 months|
|Balance transfer revert rate||Cash Advance Rate (12.95% p.a.)|
|Purchase rate||4.99% p.a. for 5 months, reverts to 12.95% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||12.95% p.a.|
|Min credit limit||$500|
|Foreign currency conversion fee||3%|
|Available to temporary residents||No|
- An introductory interest rate of 4.99% p.a. for the first 5 months on purchases and balance transfers.
- $0 annual fee for life
- Up to 55 days interest-free on purchases.
- At the end of the introductory period, the rate will revert to the everyday credit card rate.
|Minimum monthly repayment||3% of the closing balance or $20, whichever is greater|
|Foreign currency conversion fee||3%|
|Cash advance fee||$3|
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.
The Horizon Bank Visa gives you a way to keep credit card costs down, with a $0 annual fee for life and the same low interest rate for all your transactions. This rate is just 4.99% for the first 5 months, and 12.95% when the introductory period ends.
Both of these rates are at the lower end of the market and, when combined with no annual fee, make this card a valuable option if you want affordable access to credit. But if you want to pay off an existing debt or have some big-ticket purchases coming up, it’s also worth comparing cards that offer 0% p.a. introductory rates or lower ongoing rates so that you can find the most cost-effective card for you
How to applyYou can apply for the Horizon Bank Visa credit card online by filling in a secure application form on the Horizon website. Once you have submitted the completed application, it will be sent to a loans officer and you'll get a reference number you can use to check on the process. You can get ready now by checking that you meet the eligibility criteria and have all the documents and details needed for the application.
- Residency. You must be a permanent Australian resident or citizen.
- Income. While Horizon Bank does not list a minimum income requirement, you do need to be currently employed or receiving a regular income to apply for this card.
- Credit history. You must not have declared bankruptcy or insolvency or had any defaults on your credit history for the past five years.
- Age. You must be at least 18 years of age.
- Identification. You must verify your identity as a new customer with Horizon Bank before your application can be completed. You can use your passport, driver's licence or medicare card to verify your identity with the bank.
- Income. You may be asked to provide your last two payslips as well as salary and employment information. Self-employed borrowers may need to provide tax returns or Notices of Assessment for the past two years.
- Assets and liabilities. You may need to provide statements from other credit cards, rental agreements, council rate notices, savings account statements and other documents which detail your assets and liabilities.
- Introductory interest rate. This card offers a 4.99% p.a. interest rate on purchases and balance transfers for the first 5 months from card approval. At the end of the promotional period, any unpaid balances will accrue interest at the standard rate of 12.95% p.a.
- No annual fee. The Horizon Bank Visa Credit Card does not charge an annual fee.
- Interest-free days. Get up to 55 days interest-free on purchases when you pay your statement's closing balance in full by the due date. Note that interest-free days are not available for cash advance transactions.
- Visa benefits. This card lets you make purchases or withdraw cash around the world, anywhere Visa is accepted. You also get access to special deals on shopping, dining, entertainment and travel through Visa Offers + Perks.
Rates & fees
- Interest rate. Outside of any promotions, this card charges a 12.95% p.a. interest rate.
- International transaction fee. A fee of 3% applies when you use this card to make payments in a foreign currency – including when you're overseas or shopping online.
- Minimum credit limit. The minimum credit limit for the Horizon Bank Visa credit card is $500.