Hume Visa Value Credit Card Review

Information verified correct on April 27th, 2017

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 11.15% 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 Visa Value credit card, consumers can take advantage of all the features of a credit facility with low interest and maintenance costs.

Product NameHume Visa Value Credit Card
Purchase rate (p.a.)11.15% p.a.
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)17.95% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Minimum Monthly Repayment3% or $10, whichever is greater
Card TypeVisa
Late Payment Fee$20
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationYes
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Annual Fee$0 p.a.
Minimum Repayment3% or $10, whichever is greater
Late Payment Fee$20
Over Limit Fee$20
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

Hume Visa Value Card review

As the name suggests, this card has been tailored to ensure value in the form of minimal interest costs for the end customer. A purchase interest rate of 11.15% p.a. in addition to the 55 interest-free days reduces the amount of interest you pay on the card. It also has a wide credit range of $500 to $20,000 which can fulfil a wide range of requirements for cardholders. It allows balance transfers that can further aid in your debt consolidation. This card does not give loyalty points owing to the low interest charges.

Benefits of using a Hume Visa Value 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 11.15% p.a.
  • Zero annual fee. Maintenance charges such as annual fees are another major cost factor while using a credit card. Hume Visa Value credit card comes with $0 annual fee, helping to reduce the ongoing costs of the card.

Hume Visa Value 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 11.15% 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 Hume Visa Value Card

You can apply for this credit card online or by visiting a Hume Bank branch. First, check if your 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 Visa Value 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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Credit Cards Comparison

Rates last updated April 27th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
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20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
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Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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