Maritime, Mining & Power Credit Union Visa Credit Card – Rates & Fees

Information verified correct on December 4th, 2016

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

The Maritime, Mining & Power Credit Union 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 NameMaritime, Mining & Power Credit Union Visa Credit 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
Complimentary Travel Insurance Cover0 months
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.

Maritime, Mining & Power Credit Union 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 Maritime, Mining & Power Credit Union All in One Home Loan holders are exempt from paying the ongoing annual fee.

Benefits of the Maritime, Mining & Power Credit Union 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 Maritime, Mining & Power Credit Union 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 credit union, 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.
Back to top

How to apply for the Maritime, Mining & Power Credit Union Visa Credit Card

Visit any Maritime, Mining & Power Credit Union 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.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Credit Cards Comparison

Rates last updated December 4th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
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
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au 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.

Ask a question
feedback