Save on card costs with a competitive interest rate for purchases, balance transfers and cash advances.
The McGrath Pink Visa Credit Card is suited to cardholders who want to keep their costs low with a competitive interest rate and annual fee. Plus, half of your annual fee will be donated to the McGrath Foundation each year. If you pay your balance in full by the end of the statement period, you can make use of as many as 55 interest-free days on purchases.
|Product Name||McGrath Pink Visa|
|Purchase rate (p.a.)||8.99% p.a.|
|Annual fee||$40 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.)||8.99% 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.
|Foreign Currency Conversion Fee (VISA)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, 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.
|3% of transaction value|
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$40 p.a.|
|Minimum Monthly Repayment||3% or $20 (whichever is greater)|
|Late Payment Fee||$25|
|Overseas Cash Advance Fee||$5|
|Overseas ATM Withdrawal Fee||$5|
|Foreign Currency Conversion Fee|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, 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.
|Gambling Transactions Allowed||No|
|Additional Cardholder Fee||$0|
- A low annual fee of $40 applies.
- Enjoy up to 55 days interest-free on purchases when you pay the closing balance in full off each statement cycle.
- A low interest rate credit card usually comes without a rewards program.
McGrath Pink Visa Credit Card review
The McGrath Pink Visa Credit Card is best suited for individuals who’re looking for a basic no-frills credit card. Since this card does not offer extras like rewards and insurance covers, it manages to charge a low interest rate which is the same for all transactions. The card also has a nominal annual fee and half of your fee is donated to the McGrath Foundation each year.
Benefits of the McGrath Pink Visa Credit Card
Using a McGrath Pink Visa Credit Card comes with a number of benefits including:
- Low ongoing rate. This card offers a competitive interest rate of 8.99% p.a. on purchases, balance transfers and cash advances.
- Contribute to a good cause. Half of your card’s annual fee is donated to the McGrath Foundation. The foundation uses this money in the placement of McGrath Breast Care Nurses who work in supporting women with breast cancer as well as their families.
McGrath Pink Visa Credit Card features
If you’re considering applying for the McGrath Pink Visa Credit Card, here’s what you can expect from the card:
- Annual fee. This card attracts an ongoing annual fee of $40, and half of this ($20) goes to the McGrath Foundation on your behalf.
- Competitive rates. The low ongoing rate of 8.99% p.a. that this card charges is amongst the lowest you can find, and the fact that the same low rate applies on cash advances is a definite plus.
- Additional cardholders. You can apply for an additional card linked to your primary card without an additional fee.
- Interest-free days. By paying your account’s outstanding balance in full every month you can make use of up to 55 interest-free days on purchases.
- Visa payWave. This feature enables you to use your card to make contactless payments for purchases less than $100.
- Visa Zero Liability. As long as you use your card responsibly, you don’t have to worry about paying for fraudulent transactions made using your card owing to the Visa Zero Liability policy.
How to apply for the McGrath Pink Visa Card
Community First Credit Union issues these cards, so you can apply by visiting any Community First service centre, and you can also apply online and over the phone. To apply online, start by visiting the McGrath Pink Visa website, but only after making sure you meet the following eligibility criteria:
- You are over 18 years of age
- You are an Australian citizen or permanent resident
- You have a good credit history
- Personal details like your name, date of birth, marital status, and number of dependents
- Your residential status, residential address, email address, and phone number
- Your employment status along with your employer’s name and contact details
- Details of your income, expenses, assets, and liabilities
The McGrath Pink Visa offers competitive interest rates and fees for cardholders who want to keep costs low. You can also spend with peace of mind knowing that half of your annual fee is being donated to a worthy cause. As this isn't the only low rate credit card on the market, you should still compare a few options before applying.