The Qudos Bank Lifestyle Credit Card offers the best of both worlds with no annual fee and a low ongoing purchase rate.
The Qudos Bank Lifestyle Credit Card is a basic Visa product that offers an introductory interest rate of 4.99% for the first 5 months. After the introductory period, interest on balance transfers, purchases and cash advances will accrue at the standard variable rate of 12.34% p.a. - one of the lowest ongoing rates on the market. This card also has no annual fee for life, offering you even more savings when compared to other products.
| Product Name | Qudos Bank Lifestyle Credit Card |
|---|---|
| Balance transfer rate (p.a.) | 4.99% p.a. for 5 months |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Purchase Rate (12.34% p.a.) |
| Purchase rate (p.a.) | 4.99% p.a. for 5 months (reverts to 12.34% p.a.) |
| Annual fee | $0 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. | 0 interest free days |
| Cash advance rate (p.a.) | 12.34% 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 |
| Max credit limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $20,000 |
| Minimum Monthly Repayment | 2% |
| Card Type | Visa |
| Late Payment Fee | $0 |
| 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. | 3.65% of transaction value |
| Complimentary Travel Insurance | No |
| Available To Temporary Residents | No |
| Joint Application | No |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | No |
| 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 |
| Max Credit Limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $20,000 |
| Annual Fee | $0 p.a. |
|---|---|
| Minimum Repayment | 2% |
| Late Payment Fee | $0 |
| Over Limit Fee | $0 |
| Overseas Cash Advance Fee | $175 |
| Overseas Emergency Replacement | $170 |
| Overseas ATM Balance check | $2 |
| Overseas ATM Withdrawal Fee | $2 |
| 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. | 3.65% of transaction value |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 p.a. |
| BPAY | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| In Branch | Yes |
Qudos Bank Lifestyle Credit Card review
The Qudos Bank Lifestyle Credit Card offers you both a low rate and no annual fee. It offers a low 4.99% introductory rate for the first 5 months, and a competitive ongoing rate of 12.34% p.a. for purchases, cash advances and balance transfers thereafter.
Unlike most credit cards, the Qudos Bank Lifestyle card does not offer any interest free days, so if you always pay off your balance in full, you might want to consider another option. Otherwise this no annual fee credit card could be a low cost alternative for emergency purchases or balance transfers.
Benefits of the Qudos Bank Lifestyle Credit Card
- No annual fee. Pay no annual fee ever with the Qudos Bank Lifestyle Visa Credit Card. This credit card is one of the few products on the market to offer both a low purchase rate and no annual fee.
- Introductory rate. All purchases, cash advances and balance transfers will accrue interest at the low rate of 4.99% during the 5-month introductory period.
- Low purchase rate. After the introductory period, the standard variable rate of interest applies to all transactions. This rate is currently 12.34% p.a. and there are less than a handful of cards with a lower ongoing purchase rate.
Qudos Bank Lifestyle Visa Credit Card features
The hallmark of a great card is the ability to provide great service and give the features customers want. The Qudos Bank Lifestyle Credit Card does all that and more.
- No annual fee. You won’t pay an annual fee for the Qudos Bank Lifestyle Visa.
Promotional intro rate. Get a special introductory interest rate of 4.99% for the first 5 months. - Low ongoing rate. The 12.34% p.a. standard variable rate of interest applies to transactions made with the card after the introductory period ends.
- Balance transfers. Transfer your existing credit card balance to the Lifestyle Visa when you apply and you can get 4.99% p.a. for the first 5 months.
- Interest. Interest is calculated daily and charged to your account monthly. You will receive a statement each month and, if applicable, you’ll need to pay 2% of your outstanding balance by the statement due date.
- Additional cardholder. Get a Lifestyle Visa for a family member to use at no extra cost. This additional card is linked to your account and shares your credit limit, but will have a different card number and PIN. As the primary account holder, you will be responsible for keeping the account in good standing.
- No interest free days. Unlike most other cards, you don’t get interest free days when you pay off your balance each month. Qudos Bank offers this feature on both its Lifestyle Plus and Visa Platinum credit cards.
- Credit limits. The minimum credit limit is $1,000 and the maximum credit limit is $20,000. This minimum credit limit is currently the lowest amount available for a no annual fee and low rate credit card.
- Visa access. Visa is accepted by millions of merchants and ATMs worldwide.
- Visa payWave. Use the Visa payWave feature at contactless terminals so you can tap to pay for items under $100 in seconds.
- No liability for fraud. Visa guarantee you won’t be held liable for any unauthorised transactions detected on your account.
- Mobile banking. Qudos Bank QActive Mobile and Tablet banking lets you check your account balance, pay bills, find Qudos branches and ATMs and more from Apple and Android devices.
How to apply for the Qudos Bank Lifestyle Credit Card
You can apply for the Qudos Bank Lifestyle Credit Card securely online in under 15 minutes.
Eligibility requirements
- Age. You must be over the age of 18.
- Residency. You must be an Australian citizen or permanent resident.
- Credit history. You must not have been declared bankrupt.
- Minimum income. Qudos Bank does not list a minimum income requirement for the Lifestyle Credit Card. To be eligible, you must have paid employment and be able to service the minimum credit limit of $1,000.
Required documents
To complete your online application, make sure you have the following documents and details on hand.
- Identification. You will need to enter your driver’s licence number, Medicare or passport number to verify your identity with Qudos Bank.
- Finances. You will be asked to provide details about your financial assets and liabilities on the online application. This includes information about property, savings, vehicles and superannuation entitlements as well as other credit card and loan balances, mortgage repayments, rent and child support payments.
The Qudos Bank Lifestyle Credit Card gives you value for money with no annual fee and a competitive ongoing rate of interest. While the standard variable rate is low, it’s not the lowest available, so make sure you compare low rate credit cards to find the right option for you.
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