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Our verdict

Cut credit card costs with no annual fee and a low 11.95% p.a. interest rate on purchases.

The Hume Value Visa credit card is one of the few products that couples $0 annual fee with a low purchase interest rate. There are some cards that boast even lower interest rates, but these cards usually charge an annual fee. You can apply for a credit limit of up to $20,000, which is modest compared to some cards but on par with other low cost products.

Pros

$0 annual fee
Low purchase rate of 11.95% p.a.
Up to 55 days interest-free on purchases

Cons

Charges a 2.85% foreign transaction fee

The Hume Value Visa credit card is a convenient and low cost line of credit. You’ll pay no annual fee for life and can save with a competitive purchase interest rate plus up to 55 interest-free days on purchases. You can also request additional cardholders for no extra fee and shop online safely with Visa Secure.

Details

Product details

Product Name	Hume Value Visa
Purchase rate p.a.	11.95%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	19.95%
Min credit limit	$500
Max credit limit	$20,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	Yes

Rewards

Bonus points

N/A

Fees

Annual fee	$0
Minimum monthly repayment	3% of the closing balance or $10, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	2.85%
Additional cardholder fee	$0

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Well done, Hume!

The Hume Value Visa has been recognised as a finalist in this category for the third year in a row. As well as a $0 annual fee, it scores well for its low 11.95% interest rate for purchases and interest-free days.

Full list of 2024 winners

How to apply

You can apply for the Hume Value Visa online in 15 minutes. Before you get started, make sure you meet the eligibility requirements and have the necessary information to complete the 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 includes your full name, date of birth, current address, number of financial dependents, a driver's licence number and a contact number. You'll also be asked to provide proof of identification.
Employment detail. Your current employment status and details of your employment.
Expenses and assets. You'll be asked to confirm your annual income, monthly expenses, current credit cards and asset details.
Self-employed applicants. If you're self-employed, you'll need to include the last two years of tax returns.
Customer number. This is located on your statement if you're a current Hume customer.

Card benefits

No annual fee. This card has a $0 annual fee for life.
Low purchase interest rate. Your purchases will attract a low purchase interest rate of 11.95% p.a.

Free additional cardholder. You can manage your family's expenses under a single account and request additional cardholders at no extra cost.
Mobile wallets. You can link your account to Apple Pay or Google Pay and use your eligible phone or device to tap and pay whenever you make purchases.

Rates & fees

Available credit limits. You can request a credit limit starting from $500 and up to $20,000. The credit limit you're approved for will depend on your credit history and financial situation.
Interest-free days. You can take advantage of up to 55 interest-free days on purchases when you pay your balance in full by the statement due date.

Cash advances. If you use this card to make a cash advance (such as an ATM withdrawal), you'll attract the 19.95% p.a. cash advance interest rate.
Foreign transaction fee. If you use this card to make a purchase in a foreign currency online or overseas, you'll be charged the 2.85% foreign currency conversion fee.
Visa Secure. This feature provides an additional layer of protection when shopping online and at designated participating merchants.
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.

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Sally Finder

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Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong. See full profile