Police Credit Union SoLo Credit Card review

Slash your card fees by accessing Australia’s lowest interest rates with a $0 annual fee.

Important information

The Police Credit Union SoLo Credit Card is no longer available for new applications. However, we’ve kept the information online for the benefit of existing customers and for those who are interested. You can compare the current range of Police Credit Union credit cards here.

Like its name aptly implies, the SoLo credit card is a no-frills product with low interest rates. At 6.99% p.a., this card could help you minimise your interest costs if you regularly carry a balance from month to month. What’s more, it comes free with no annual fee. As long as you meet the other eligibility requirements, you don’t need to be a member of the Police force to apply for this card.

Review of the Police Credit Union SoLo credit card

Low rate credit cards offer an average 13% purchase interest rate and typically higher cash advance interest rates. With its low purchase and cash advance rates of of 6.99% p.a., the Police Credit Union SoLo credit card is a competitive option if you’re looking for a low rate product.
Compared to other no annual fee credit cards with interest rates ranging between 13% and 20%, this card also delivers the lowest interest rates by far.

What’s the catch then? Notably, there are no interest-free days which means you’ll incur 6.99% p.a. interest from the moment you swipe or tap that card.

Benefits of the Police Credit Union SoLo credit card

  • No annual fee. Pay no annual or monthly fees for this card.
  • Lowest purchase interest rate. 6.99% p.a. is the lowest credit card purchase rate currently available on the market.
  • Lowest cash advance interest rate. 6.99% p.a. is similarly the lowest credit card cash advance rate currently available.
  • Visa usability. Access your funds worldwide wherever Visa is accepted, and make contactless payments easily with Visa payWave.
  • Low minimum credit limit. Stay in control of your budget with a low minimum credit limit of $1,000.
  • Guardian Fraud protection. Police Credit Union cards offers peace of mind with its money-back fraud protection guarantee.

Fees related to the Police Credit Union SoLo credit card

  • Cash advance fee. Despite the low cash advance rate, be aware that a fee of $4 applies to each cash advance transaction.
  • Cash withdrawal fees. Also, a fee applies each time you make a cash withdrawal: $2.50 via a Police Credit Union agency, $1.25 via a rediATM or NAB ATM in Australia, $1.19 via EFTPOS and $3 via an Australia Post outlet.
  • Transfer fees. Direct debits, ATM transfers and periodic payments incur $1 per transaction, while manual transfers processed by Police Credit Union staff are charged $2.50.
  • Late fees. Whenever your account falls in arrears beyond 21 days, you will be charged: $15 on the 21st day; $25 on the 35th day.
  • Overdrawn fee. $15 is charged whenever a transaction leaves your account more than $50 overdrawn. Declined transactions and honour/dishonour fees may also apply.
  • Card replacement fees. A $50 lost or stolen card report fee is charged, as well as $10 to replace the card. This fee becomes $30 for an emergency card replacement service.
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