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Police Bank Visa Credit Card

Last updated: 14 February 2020

Receive a no-fee balance transfer offer, a $0 first year annual fee and a $150 cashback with a Police Bank Visa Credit Card.

When you apply as one of the first 100 applicants, you'll earn $150 cashback when you spend $500 on purchases within the first month. This card also comes with a 0% interest rate on balance transfers and an annual fee waiver for the first year.

In addition to these features, you can also cut on card costs with up to 55 interest-free days on purchases and through the Reduced Fees Program.

0% p.a.

Balance transfer rate

for 12 months

10.76% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($30 p.a. thereafter)

55 days

Interest free period

Details

Product Name	Police Bank Visa Credit Card
Balance transfer rate	0% p.a. for 12 months
Balance Transfer Revert Rate	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	55 days
Cash advance rate (p.a.)	10.76% p.a.
Min credit limit	$1,000
Card Type	Visa
Foreign Currency Conversion Fee (Visa/Mastercard)	3% of transaction value
Complimentary Travel Insurance	No

Minimum Age	18 years of age
Available to Temporary Residents	No
Joint Application	Yes

Pros

$150 cashback offer
$0 first year annual fee (normally $30 p.a.)
0% p.a. for 12 months on balance transfers

Cons

No rewards program or travel insurance

Annual fee	$0 p.a. annual fee for the first year ($30 p.a. thereafter)
Late Payment Fee	$10
Foreign Currency Conversion Fee (Visa/Mastercard)	3% of transaction value
Cash Advance Fee	3.8%
Overseas Cash Advance Fee	3.8%
Overseas ATM Withdrawal Fee	$3.80

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

The Police Bank Visa Credit Card is designed to help you minimise your overall card costs with its competitive rates and fees. If you planning to pay off debt, you can take advantage of a 0% p.a. interest rate on balance transfers for 12 months, with no balance transfer fee. This card also has a modest $150 cashback offer which will be credited to your account within a month of meeting the spend requirement.

While this card does not offer platinum perks like a rewards program or complimentary insurances, you can still get more value from this card with the annual fee waiver in the first year. This gives you a potential saving of $30 per year.

How to apply

If you've compared your options and decided that this card is right for you, you can complete the online form through the Police Bank website. You can also apply by visiting any of the bank's branches. Before you apply, make sure that you've met the following eligibility requirements and have all the relevant documents on hand.

Eligibility criteria

Residency. You must be a permanent resident of Australia.
Age. You must be at least 18 years of age.

Income. You must have a regular income and be able to make repayments.
Credit rating. You must have a good credit history.

Required documents

Personal details. This includes your full name, contact details, residential address, marital status and number of financial dependents.
Proof of identification. You will need to provide your driver's licence number (if you have one).
Financial details. Confirm your existing financial institution, which includes your income, assets, expenses, and liabilities.

Card benefits

Cashback offer. For the first 100 applicants of this offer, you'll get $150 cashback when you spend at least $500 on purchases within a month.
$0 first year annual fee. Enjoy a $0 annual fee for the first year, saving you $30.

Balance transfer offer. Repay your existing debt with 0% p.a. on balance transfers for 12 months, with no balance transfer fee. At the end of this introductory period, any remaining balances will attract the variable purchase rate, currently at 10.76% p.a.
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.
Visa Entertainment. Get access to exclusive pre-sale tickets, discounts and offers on shows, events and other experiences through Visa Entertainment.
Mobile wallets. You can link your card with Apple Pay, Samsung Pay and Google Pay to use your eligible smartphone to tap and pay wherever contactless payments are accepted.

Rates & fees

Annual fee. Outside of any promotions, this card charges a standard annual fee of $30.
Interest rates. A low variable rate of 10.76% p.a. applies to 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 on cash advances.

Interest-free days. Get up to 55 interest-free days on purchases when you pay your balance in full by the statement due date. This includes any balance transfer amount.
Credit limit. The credit limit for this card starts at $1,000.

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Police Bank Visa Credit Card