The Qudos Bank Lifestyle Credit Card offers the best of both worlds with no annual fee and a low variable purchase rate.
The Qudos Bank Lifestyle Credit Card is a basic Visa product that offers an introductory interest rate of 4.99% p.a. for the first 5 months. After the introductory period, interest on balance transfers and purchases will accrue at the variable rate of 12.34% p.a. - one of the lowest variable 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. |
| 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 upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. | $20,000 |
| Card Type | Visa |
| 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 |
| Minimum Age | 18 years of age |
|---|---|
| Available To Temporary Residents | No |
| Joint Application | No |
| Annual fee | $0 p.a. |
|---|---|
| Minimum Monthly Repayment | 2% of the outstanding balance or $20 whichever is greater |
| 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 |
| Overseas Cash Advance Fee | US $175 |
| Overseas ATM Withdrawal Fee | $2 |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 |
Benefits of the Qudos Bank Lifestyle Credit Card
- No annual fee. Pay no annual fee ever with the Qudos Bank Lifestyle 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 and balance transfers will accrue interest at the low rate of 4.99% p.a. during the 5-month introductory period.
- Low variable rates. The 12.34% p.a. variable rate of interest applies to transactions (including cash advances) made with the card after the introductory period ends.
Qudos Bank Lifestyle 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.
- Minimum repayment. 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 variable rate of interest. While the 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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