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Our verdict

Cut costs with a competitive interest rate and low annual fee with the P&N Bank Visa Classic credit card.

The P&N Bank Visa Classic credit card is suited to people who prefer low rates and fees over extra features. This card offers two ways to save with a low purchase rate and competitive annual fee. You can also access up to 45 interest-free days on purchases. If you regularly pay your balance in full each statement period, you might benefit more from a card that offers up to 55 or 65 interest-free days on purchases.

You can only apply for this card if you live in Western Australia or are an existing P&N Bank member. If you’d prefer to access a higher credit limit and don’t mind paying a higher annual fee, you could consider the P&N Bank Visa Platinum credit card instead.

Pros

Low variable rate of 11.99% p.a. on purchases and balance transfers
Low annual fee of $49 p.a.
Protected against fraudulent transactions with Visa Zero Liability and Verified by Visa

Cons

Only up to 45 days interest-free on purchases
Not linked to any rewards program

The P&N Bank Visa Classic credit card is suited to people who want to cut standard card costs with a low interest rate and annual fee. This card charges a 11.99% p.a. purchase rate and you can access up to 45 interest-free days on purchases when you pay your balance in full.

Details

Product details

Product Name	P&N Bank Visa Classic Credit Card
Balance transfer rate p.a.	11.99%
Purchase rate p.a.	11.99%
Interest-free period	Up to 45 days on purchases
Cash advance rate p.a.	19.99%
Min credit limit	$1,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$49
Minimum monthly repayment	3% of the closing balance or $10, whichever is greater
Late payment fee	$5
Foreign currency conversion fee	3%
Cash advance fee	$5
Overseas cash advance fee	$5
Additional cardholder fee	$0

How to apply

You can apply for the P&N Bank Visa Classic credit card online in 10 to 15 minutes if you reside in Western Australia or are an existing P&N Bank member. Before you start your application, check if you meet the eligibility criteria and have the necessary information.

Eligibility criteria

Residency. You can only apply if you’re an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Income. You’ll need to receive a regular income.

Required documents

Personal details. This includes details such as your full name, date of birth and address. You’ll be required to confirm your P&N member number if you’re an existing customer.
Proof of identification. You’ll be asked to provide two forms of identification which could include your Medicare card, driver’s licence or Australian passport.
Finances. Confirm your regular expenses (including rent and living expenses), liabilities (such as credit cards, loans or mortgage payments) and assets such as the value of any savings, property and superannuation.

Card benefits

Mobile wallets. You can link your card with Apple Pay, Samsung Pay and Google Pay to use your eligible smartphone or wearable device to tap and pay wherever contactless payments are accepted.
Visa perks. This card is accepted at millions of locations wherever Visa is accepted. You can also take advantage of exclusive travel, entertainment and lifestyle deals and discounts through Visa Offers + Perks.

Low minimum credit limit. You can keep your credit card expenses under control with a modest credit limit starting at $1,000.
One card for two accounts. If you have a P&N savings account, you can link your credit card to your savings account so you only have to use one card.
Security. Your account will be protected against fraudulent transactions with Visa Zero Liability and Visa Secure security measures.

Rates & fees

Annual fee. This card charges a $49 annual fee.
Purchase interest rates. Your purchases will attract a low interest rate of 11.99% p.a.

Interest-free days. If you pay your balance in full by the statement due date, you can access up to 45 interest-free days on purchases.
Cash advances. If you use your card to make a cash advance (such as an ATM withdrawal), you’ll immediately attract the 19.99% p.a. interest rate. You’ll also be charged a $5 cash advance fee.
Foreign transaction fee. If you use your card to shop online or overseas in an international currency, you’ll be charged a foreign transaction fee of 3% of the transaction value.

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Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong. See full profile

P&N Bank Visa Classic

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