Once 55 Day Card – Rate and Fees

Information verified correct on December 11th, 2016

Save money with 0% p.a. on balance transfers for the first 6, and interest-free shopping offers at participating retailers.

The Once 55 Day Visa Credit Card is designed to provide more flexible repayment options through a range of interest-free offers. When you use this card at a participating retailer, you can take advantage of special offers including up to 48 months interest-free. With other purchases, you can make use of up to 55 interest-free days. This card also comes with an introductory 0% p.a. balance transfer rate for 6 months and has an ongoing annual fee of $99 p.a.

Product NameOnce 55 Day card
Balance transfer rate (p.a.)0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (22.99% p.a.)
Purchase rate (p.a.)22.99% p.a.
Annual fee$99 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.)22.99% 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.
$1,000
Minimum Monthly Repayment3% or $30 (whichever is greater)
Minimum Income$25,000
Card TypeVisa
Late Payment Fee$35
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Income$25,000
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$99 p.a.
Minimum Repayment3% or $30 (whichever is greater)
Late Payment Fee$35
Cash Advance Fee$3.00 or 3% of the total cash advance amount, whichever is higher

Once 55 Day card review

The Once 55 Day card allows you to buy what you want now and pay it off over time while saving on interest charges. Once has partnered with an extensive range of retailers across Australia to offer up to 48 months interest-free for purchases made with this card. You can also enjoy up to 55 days interest-free for other purchases made on the card.

In addition to these features, the Once 55 Day card offers a promotional balance transfer rate of 0% p.a. for 6 months when you request a transfer at the time of your application. This Visa card also offers payWave functionality, allowing you to tap-and-go without entering a PIN for purchases under $100. It's also accepted by millions of retailers around the world, anywhere the Visa logo is displayed.

Benefits of the Once 55 Day card

The Once 55 Day Visa credit card comes with the following range of benefits:

  • Interest-free shopping. When you use your Once 55 Day card at participating retailers you can get as many as 48 interest-free months. You can also look forward to special offers periodically. The interest-free period and offers available vary from one store to another, and you can search for stores near you on the Once website. Partner stores are spread across categories including air conditioning, appliances, auto care, bedding, computers, education, fitness, home improvement, jewellery, music and solar solutions.
  • Balance transfer offer. If you request a balance transfer at the time of application, you can make use of a promotional 0% p.a. balance transfer rate for the first 6 months and save on interest.
  • Easy access to funds and account information. You can use this Visa card at ATM and EFTPOS terminals around the world. You can also use the card to make online and over-the-phone transactions, pay bills via BPAY, and for setting up direct debits. Once also offers Internet and phone banking services so you can access account-related information at any time.
  • Visa payWave and Tap2Pay. You can use this payWave-enabled card to make contactless payments of less than $100. If you have an Android device you can download the Tap2Pay app and then use your device to make payments, instead of your card.
  • Card security. This card is microchip-protected, providing greater security against fraud when compared to magnetic strips. You can also add a layer of security to online transactions with Verified by Visa.

Once 55 Day card features

If you’re considering applying for this Visa credit card, take some time to go through the following features:

  • Annual fee. This card attracts an ongoing annual fee of $99 for as long as the account remains active.
  • Interest rates. This card has a standard variable purchase rate of 22.99% p.a. and a cash advance rate of 22.99% p.a. (variable).
  • Minimum credit limit. The minimum credit limit of this card is $1,000. Individual credit limits are subject to Once's lending criteria and approval.
  • ATM access. Cardholders don’t have to pay ATM fees when they use any ATM that is part of the rediATM network.
  • Cash advance fee. If you use your Once Visa credit card to withdraw cash or for any other "cash advance" transaction (such as gambling or purchasing foreign currency), you will be charged $3.00 or 3% of the total cash advance amount, whichever is higher.
  • Minimum payment. The minimum you must pay off this card each statement is 3%.
  • Late payment fee. If you don't pay at least the minimum required by the due date on your statement a fee of $35 will apply.

How to apply for the Once 55 Day card

Applying for the Once 55 Day Visa card is easy and takes only a few minutes online. Click on the "Go to Site" button to get started. Before you submit your application, check if you meet the following eligibility criteria.

Eligibility criteria

  • You must be at least 18 years old
  • You must be a permanent resident of Australia
  • You must earn at least $25,000 p.a.
  • You must have good credit history

Required documents

If you meet these requirements, you can go ahead with your application. To speed up the process, make sure you have the following documents and details handy.

  • Personal information. This includes your full name, residential address, email address, phone number and driver's licence number, your marital status and details of any dependents in your household.
  • Employment details. This includes the name and address of your employer, your position, the amount of time you have worked there and your salary.
  • Financial information. This includes any other income (such as from shares) and assets such as property or savings accounts. You'll also be required to provide information on any liabilities, such as existing debts, mortgages, and day-to-day expenses.

After submitting your application, you should get a quick response with the outcome. A Once representative will also be in touch if further information is required. If you're approved, you should receive your card in the mail and can activate it by calling 13 6623 or by logging in to Once Online Access and following the prompts.

While most credit cards offer up to a certain number of interest-free days for each statement period, the Once 55 Day Visa goes one step further by providing access to a range of retailers that offer up to 48 months interest-free. But with a high standard variable interest rate and an annual fee, it's worth comparing this card to others so you can make sure your choose an option that's right for your circumstances and needs.

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