Police Bank Visa Credit Card – Rates and Fees

Information verified correct on December 6th, 2016

Pay 0% p.a. for 12 months on balance transfers and pay no annual fee for the first year

The Police Bank Visa Credit Card is a no-frills card that charges a low ongoing rate on purchases and cash advances. This card comes with a 0% p.a. balance transfer rate for 12 months, and it gives cardholders the ability to have up to 55 interest-free days on purchases. Find out more of the benefits of this card and see if it's the right option for you.

Product NamePolice Bank Visa Credit Card
Balance transfer rate (p.a.)0% p.a. for 12 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (10.76% p.a.)
Purchase rate (p.a.)10.76% p.a.
Annual fee$0 p.a. annual fee for the first year ($30 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.)10.96% 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 Repayment$5 or 2.5%, whichever is greater
Card TypeVisa
Late Payment Fee$10
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 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 ($30 p.a. thereafter)
Minimum Repayment$5 or 2.5%, whichever is greater
Late Payment Fee$10
Cash Advance Fee$3.80
Overseas Cash Advance Fee$3.80
Overseas ATM Withdrawal Fee$3.80
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

Police Bank Visa Credit Card review

This Visa credit card offered by Police Bank can lead to significant savings in the form of interest if you use it to transfer balances from existing cards, and its low ongoing rate can also lead to savings in the long run. The drawn down balance on this card can contribute to the bank’s reduced fees program, working in eliminating or reducing fees.

Benefits of the Police Bank Visa Credit Card

  • Balance transfer offer. This card comes with a balance transfer offer that gives you 0% p.a. interest on transferred balances for the first 12 months. At the end of this introductory period any outstanding balance from transferred balances starts attracting the card’s standard rate.
  • Low rate. A low ongoing rate of 10.76% p.a. applies on this card. Unlike many credit cards that charge a higher cash advance rate, this card charges the same low rate on purchases as well as cash advances.
  • Reduced fees program. Police Bank lets you reduce or even avoid paying transaction fees and charges through its reduced fees program. All you have to do to qualify is maintain a combined monthly balance in excess of $5,000 in all your Police Bank savings, investment, and loan accounts.
  • Easy access to funds. You can use your Police Bank Visa card the world over, anywhere you see the Visa symbol, at ATMs and EFTPOS terminals alike. This card works perfectly well when it comes to making purchases or paying bills, over the phone or over the internet

Police Bank Visa Credit Card features

  • Annual fee. This card attracts a nominal annual fee of $30, but you don’t have to pay this fee for the first year.
  • Credit limit. The Police Bank Visa Credit Card comes with a minimum credit limit of $1,000.
  • Balance transfer offer.  Use this card to transfer balances from existing cards, and pay 0% p.a. interest on the transferred balances for the first 12 months.
  • Interest free days. If you pay the account’s closing balance completely at the end of each billing cycle, you can get as many as 55 interest-free days on purchases.
  • Additional cards. Police Bank may issue an additional card to any nominated individual who is over 16 years of age and meets identity verification requirements.
  • Reduced fee program. Your account’s drawn down balance, owing to the reduced fee program, can help minimise the fees you pay.
  • Visa payWave. This technology allows you to make contactless payments for purchases that are under the $100 mark.
  • Verified by Visa. This service is in place to monitor online transactions that make use of your card’s details, and it plays a crucial role in preventing fraudulent or unauthorised usage of your card over the internet.
  • Visa Entertainment. This online platform gives you access to a variety of entertainment offers, which include pre-sale tickets to some of the prime events in Australia.
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How to apply for the Police Bank Visa Credit Card

You can apply for the Police Bank Visa Credit Card by visiting any Police Bank service centre, or you can apply online.

Eligibility criteria

Before you take the next step, make sure that you meet the following eligibility criteria:

  • You are a permanent resident of Australia
  • You are over 18 years of age
  • You have good credit history

Required documents

In order to successfully complete the application you have to provide the following information:

  • Your membership details, including your membership number. If you aren't a member you can become one in the credit card application
  • Your employer’s name, phone number, and address and your employers from the last three years
  • Details about your existing financial situation, which include income, assets, expenses, and liabilities
  • Your driver's licence number (if you have one)

This Police Bank credit card, with its low ongoing rate and 0% p.a. balance transfer rate, is a card that's worth a spot in your comparison, but make sure you spend some time looking at similar offerings before deciding which card to apply for.

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Credit Cards Comparison

Rates last updated December 6th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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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
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Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
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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.
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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.

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