A convenient line of credit with a competitive interest rate on purchases and a no annual fee
Hume Bank has brought a straightforward card for its customers to cater for their day-to-day purchasing needs. This card comes with a competitive purchase rate of 11.95% p.a. and $0 annual fee. Benefits like 55 interest-free days and free additional cardholder add to the attraction of this card. With the help of the Hume Value Visa credit card, consumers can take advantage of all the features of a credit facility with low interest and maintenance costs.
| Product Name | Hume Visa Value Credit Card |
|---|---|
| Purchase rate (p.a.) | 11.95% p.a. |
| Annual fee | $0 p.a. |
| Interest Free Period The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date. | Up to 55 days on purchases |
| Cash advance rate (p.a.) | 17.95% p.a. |
| Min credit limit This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure. | $500 |
| Max credit limit This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application. | $20,000 |
| Card Type | Visa |
| Foreign Currency Conversion Fee (VISA) Charged when you make a transaction that is converted by Visa 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 Insurance | No |
| Minimum Age | 18 years of age |
|---|---|
| Available To Temporary Residents | No |
| Joint Application | Yes |
| Annual fee | $0 p.a. |
|---|---|
| Minimum Monthly Repayment | 3% or $10, whichever is greater |
| Late Payment Fee | $20 |
| Foreign Currency Conversion Fee (VISA) Charged when you make a transaction that is converted by Visa 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 |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 |
Benefits of using a Hume Value Visa Card
- Low purchase rate. This is one of the biggest plus points for this card. High interest charges can be very burdensome and prove financially destructive in the long run. By making sure that the interest rate on all purchases is competitive, Hume Bank helps the customers to reign in the cost associated with a credit card with a rate of 11.95% p.a.
- Zero annual fee. Maintenance charges such as annual fees are another major cost factor while using a credit card. Hume Value Visa credit card comes with $0 annual fee, helping to reduce the ongoing costs of the card.
Hume Value Visa Card features
Although this is a value credit card, it still comes loaded with all the features you'd expect to see in a credit card. This includes the ability to make balance transfers, a good credit limit range and interest-free days.
- Range of credit limits available. The credit limit for the card ranges from $500 to $20,000. This would suffice the day-to-day requirements for most of applicants.
- Balance transfers. Customers can use this card to make balance transfers. To transfer an existing card balance, complete a request form when you apply for the card.
- Interest-free days. This is the icing on the interest cake. The already competitive purchase rate of 11.95% p.a. is accompanied with 55 interest-free days. To take advantage of these days, just pay your balance back in full by your statement due date.
- Free additional cardholder. An additional cardholder can be added to your account for no additional cost.
- Verified by Visa. This feature helps to provide an additional layer of protection when shopping online and at designated participating merchants.
How to apply for the Hume Value Visa Card
You can apply for this credit card online or by visiting a Hume Bank branch. First, check if you're eligible and that you have the required documents handy.
Application criteria
- Age. You must be at least 18 years of age.
- Residency. You must be a permanent resident of Australia.
- Customer requirement. You should also be a customer of Hume Bank. In case you're not already a customer, one of the Lending Consultants of the bank will contact you.
Required information
- Personal details. Your current address, past addresses and contact number need to be provided.
- Employment detail. Your current employment status and details of your employment are also needed.
- Expenses and assets. Monthly expenses, current credit cards and asset details are required.
- Self-employed applicants. The last two years of tax returns are required for self-employed applicants.
- Customer number. This is located on your statement if you're a current Hume customer.
Hume Value Visa credit card is true to its name and can serves its purpose well. It will allow customers to enjoy all the features of a credit card while keeping the interest and maintenance costs to a minimum. Customers get a benefit of 55 interest-free days which can be used to reduce the overall costs of this card. This card can be an option for you, but make sure you compare it to similar cards before applying.
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