Unity Bank Visa Credit Card – Rates & Fees

Pay a low introductory rate for the first 6 months, followed by a low ongoing rate

The Unity Bank Visa Credit Card charges a low introductory rate that stays in place for the first 6 months, and it then starts charging a low standard rate. If you use this card suitably, you can get up to 55 interest-free days on all purchases. You don’t have to pay any annual fee for the first year, and subsequent years attract a nominal annual fee.

Product Name Unity Bank Visa Card
Balance transfer rate (p.a.)7.99% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (10.12% p.a.)
Purchase rate (p.a.)7.99% p.a. for 6 months (reverts to 10.12% p.a.)
Annual fee$0 p.a. annual fee for the first year ($60 p.a. thereafter)
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.)7.99% p.a. for 6 months (reverts to 10.12% 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.
$1,000
Minimum Monthly Repayment2% or $20 whichever is greater
Card TypeVisa
Available To Temporary ResidentsNo
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.
Good
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.
$1,000
Annual Fee$0 p.a. annual fee for the first year ($60 p.a. thereafter)
Minimum Repayment2% or $20 whichever is greater
Over Limit Fee$20
Cash Advance Fee$1.65
Additional Cardholder Fee$0 p.a.

Unity Bank Visa Credit Card review

The low introductory rate this card charges for the first 6 months applies on all transactions, which include purchases, cash advances, and balance transfers, and this is a definite plus. Its standard low ongoing rate also applies on all transactions. This card attracts a nominal annual fee, which does not apply for the first year, and existing Unity Bank All in One Home Loan holders are exempt from paying the ongoing annual fee.

Benefits of the Unity Bank Visa Credit Card

  • Low introductory rate. All transactions you make using this Visa Credit Card attract a low introductory rate of 7.99% for the first 6 months. By using this card to transfer balances from other cards that charge higher interest, you can save considerably in the form of interest. The low interest you pay on purchases and cash advances in this period would also lead to savings.
  • Low ongoing rate. At the end of the introductory 6 month period, a low standard rate of 10.12% p.a. will apply on the card. This rate, again, applies on all transactions, which could leading to further savings in the long run depending on how you use the card.
  • Interest-free days on all purchases. Unlike most other cards that only offer interest-free days if you pay your account’s closing balance in full every month, this card has no such requirement. Irrespective of your account’s outstanding balance, this card provides you with up to 55 interest-free days on all purchases.
  • Funds anywhere, anytime. You can access funds using this Visa card in most countries around the world, at ATMs as well as at EFTPOS terminals. You simply have to look for the Visa logo. You can also use this Visa card to pay bills and make purchases over the internet and phone.

Features of the Unity Bank Visa Credit Card

  • Annual fee. This card attracts a nominal annual fee of $60, which you don’t have to pay for the first 12 months. If you have an All in One Home Loan with this bank, you don’t have to pay the ongoing annual fee.
  • Introductory interest rate. The low introductory interest rate of 7.99% stays in place for the first 6 months, and applies on purchases, balance transfers, and cash advances.
  • Interest-free days. You don’t have to pay your account’s closing balance in full to take advantage of the interest-free days this card offers, and you can get as many as 55 interest-free days on all purchases.
  • Additional cardholders. You can get a free additional card for any person you nominate, provided the person is at least 16 years old.
  • Cash advances. Aside from locating ATMs that display the Visa logo for cash advances, you can make over-the-counter cash advances at financial institutions that accept Visa.
  • Verified by Visa. When your credit card details make it to the online world, this service provides extra security.

How to apply for the Unity Bank Visa Credit Card

Visit any Unity Bank branch to apply or you can also submit an online enquiry. To start the application process, simply complete an online application form. Applying for this Visa Credit Card requires that you meet certain eligibility criteria, which are as follows:

Application criteria

    • You should be a permanent Australian resident
    • You should be over 18 years of age
    • You should have good credit history

Required documents

In order to complete the application, prepare to part with a variety of information, which includes the following:

      • Personal details like your date of birth, marital status, number of dependents, and driver’s license number
      • Work-related information like your employer’s name, employer’s contact details, and your employment status
      • Financial information which includes details about your income and expenditure

While this no-frills credit card comes with a low introductory rate offer and charges a low standard rate, there are similar cards out there, so compare a few before you make a decision.

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