Security Credit Union Low Rate Visa Credit Card

Get an ongoing low rate of interest for purchases, cash advances and balance transfers with the Security Credit Union Low Rate Visa.

Security Credit Union is a division of Sydney Credit Union (SCU)

Security Credit Union is a division of Sydney Credit Union and no longer offers cards under the Security Credit Union brand. This page has been kept for historical purposes.

Security Credit Union was established in 1964 to provide financial services to staff working in the Department of Human Services. It has now merged with Sydney Credit Union (SCU) and offers a range of products – which aim to put "people before profit" – including the Low Rate Visa.

This credit card features a low standard variable interest rate of 10.49% p.a. for purchases, cash advances and balance transfers. It also has a competitive annual fee of $30 and keeps other charges to a minimum.

Security Credit Union Low Rate Visa review

The Security Credit Union Low Rate Visa is designed specifically to offer customers value for money through its competitive rates and fees. The low, ongoing standard interest rate gives you a chance to save money when you carry a balance and can make it easier to pay down your credit card debt.

This card also offers balance transfers without any additional fees, unlike some other options that charge between 1% and 3.5% of the total debt you move to a new card. As a Visa option, the Security Credit Union Low Rate Credit Card is also accepted at over 24 million locations around the world when you shop in person, over the phone or online.

Benefits of the Security Credit Union Low Rate Visa

  • Low interest rate. This card has a standard variable interest rate of 10.49% p.a. for purchases, cash advances and balance transfers.
  • Fee free balance transfers. While some banks charge you a percentage of the balance you move to a new card, the Security Credit Union Low Rate Visa has no fees for this service.
  • Fast approval. Application approval can be made in as little as 48 hours.
  • Interest free days. Get up to 55 days interest-free on new purchases when you pay the balance of your card in full by the due date on your statement.
  • Visa benefits. This Visa credit card gives you access to exclusive ticket offers for a wide range of experiences and events through the Visa Entertainment program. It also offers security through the Verified by Visa online payment service.
  • PIN selection. This card lets you choose a security PIN so that it’s easier to remember your four-digit code when you make purchases in person.

Features of the Security Credit Union Low Rate Visa

  • Annual fee. This card has a competitive annual fee of $30. This fee is waived for customers with a My Life Home Loan.
  • Credit limit. The credit limits for this card start from $1,000.
  • Late payment fee. A $25 fee applies if you miss the due date for a payment on this card.
  • Cash advance fees. The Security Credit Union Low Rate Visa applies a $1.75 fee for cash advances made at Security Credit Union branches, and a $4 fee for other cash advances.
  • ATM balance inquiries. If you want to check your balance at an ATM in Australia or overseas, a $1.50 fee will apply.
  • Declined transactions. Any ATM or EFTPOS transactions that are declined will attract a $1.50 fee.
  • Currency conversion. This card charges 2% of the total value of any transactions made in a foreign currency, such as when you’re overseas or shopping with international retailers online.
  • Card replacement fees. If your card is lost, stolen or damaged it will cost you $10 to get a new one in Australia. For emergency card replacement when you are overseas, the cost is US$185.
  • Emergency cash advance. If you are overseas and your card is lost or stolen, you can get funds to tide you over by requesting an emergency cash advance. There is a fee of US$185 for this service.
  • Chargebacks. If you have to request a chargeback to your Security Credit Union Low Rate Visa, you will pay a $27.50 fee. Read our guide to find out more about the ways you can reverse a credit card payment and avoid this charge.
  • Minimum payments. If you carry a balance, you will have to pay at least 2.50% or $20, whichever is greater.
  • Security. This card has chip-and-PIN technology and offers Verified by Visa for online payments. It also comes with a Zero Liability Policy for fraudulent charges, providing you meet the requirements outlined in the Security Credit Union Low Rate Visa product disclosure statement.

The Security Credit Union Low Rate Visa is a competitive, no-frills card that offers value for money through its low interest rate and fees. Now that you know more about the features of this card, you can compare it to a range of other options and apply for a card that suits your individual needs.

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