Pay a low introductory rate on balance transfers for the first 6 months and get up to 55 interest-free days on purchases.
The Macquarie Credit Union Visa Credit Card is a no-frills card that charges a low introductory rate on balance transfers for the first 6 months. You can get up to 55 interest-free days on all purchases, and you can get an additional card for free.
|Product Name||Macquarie Credit Union Visa Credit Card|
|Balance transfer rate (p.a.)||6.95% p.a. for 6 months|
|Purchase rate (p.a.)||6.95% p.a. for 6 months (reverts to 13.54% p.a.)|
|Annual fee||$15 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.)||6.95% p.a. for 6 months (reverts to 13.54% 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.
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Credit Rating Requirement||Good|
|Annual fee||$15 p.a.|
|Minimum Monthly Repayment||$20 or 5% of the outstanding balance, whichever is greater|
|Late Payment Fee||$0|
|Gambling Transactions Allowed||No|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||3|
Macquarie Credit Union Visa Credit Card review
Anyone looking for a basic low rate credit card should take a look at what Macquarie Credit Union has to offer. For the first 6 months you'll be charged an introductory rate of 6.95% p.a. on balance transfers. What also helps is that you don’t have to pay the account’s closing balance in full every month to take advantage of the interest-free days on purchases.
Benefits of the Macquarie Credit Union Visa Credit Card
- Balance transfer offer. You can make use of this card’s introductory rate of 6.95% p.a. on balance transfers for the first 6 months to pay down debt from existing cards that charge higher interest. This can lead to considerable savings.
- Low ongoing rate. A competitive standard rate of 13.54% p.a. applies to purchases and cash advances, and this same rate applies to any outstanding balance transfer amount at the end of the introductory period.
- Easy access to funds. You can use your Macquarie Credit Union Visa card at any ATM or EFTPOS terminal that displays the Visa logo, in Australia and elsewhere in the world. If you’re looking for a credit card to make purchases and pay bills online or over the phone, this card will serve you well.
Macquarie Credit Union Visa Credit Card features
- Annual fee. Every year you hold this card account, you'll need to pay a fee of $15.
- Balance transfer offer. An introductory rate of 6.95% p.a. is in place for balance transfers, and this rate stays in effect for the first 6 months.
- Interest-free days. While most credit cards require you to pay your account’s closing balance in full every month to take advantage of interest-free days, this is not the case with the Macquarie Credit Union Visa card. This card offers up to 55 interest-free days on all purchases, your account’s closing balance notwithstanding.
- Credit limit. The minimum credit limit on this card is $1,000, and the maximum available limit is $10,000. The limit assigned to your card takes into account your ability to make repayments.
- Additional cards. You can get up to 3 additional cards for individuals who satisfy the 100-point check identification criteria, and are at least 16 years of age. You don’t have to pay any additional card fees.
- Repayment options. Your options when it comes to making repayments include visiting the Macquarie Credit Union head office, via Bank@Post, through online or phone banking, via payroll deduction, or by direct debits from your transaction or savings account.
- Dynamic Sweep Facility. This facility allows you to access a different Macquarie Credit Union accounts using this card.
- Verified by Visa. This online security program is in place to monitor online card activity, and if it detects suspicious activity it asks for certain personal details to complete the given transaction.
How to apply for the Macquarie Credit Union Visa Credit Card
You can visit the Macquarie Credit Union branch to apply, you can apply over the phone, or you can apply online.
Before you proceed, check if you meet the following application criteria:
- You’re a permanent resident of Australia.
- You’re over 18 years of age.
The application requires that you provide different types of information, so prepare to part with the following:
- Your name, contact information, and address are all required.
- Your employment status, occupation, employer's name and contact details.
- You'll need to list any bankruptcies or judgments you've had listed against you and you'll also need to list your wages and details of your other income.
While the Macquarie Credit Union Visa Credit Card is a good card to consider, there are a number of similar cards out there, so it’s worthwhile to compare a few before applying.Back to top