Service One Members Banking MyCard MasterCard

Information verified correct on January 18th, 2017

Low fees, a competitive interest rate and lots of generous features.

The Service One Low Rate MyCard MasterCard features a competitive purchase rate and 1.9% p.a. on balance transfers for 9 months. Service One Members Banking is part of the credit union and mutual building societies network, with origins going back 50 years. Renowned for its personalised service, Service One is member-owned with profits going directly towards better interest rates and lower fees.

Service One also offers the Platinum MyCard MasterCard. With an interest rate of 20.24% p.a. and an annual fee of $99, it is not as cost effective as the Low Rate MyCard but does provide rewards and complimentary insurance.

Service One Members Banking MyCard MasterCard Review

The Service One Low Rate MyCard Mastercard offers the member-run benefits of a credit union with the international features of a MasterCard. While the Low Rate MyCard Mastercard is a generic credit card, it is perfect for budget conscious spenders. The 1.9% p.a. balance transfer option offers cardholders the opportunity to pay off outstanding debt more quickly with low interest rates and low annual fees.

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Complimentary insurance policies

The Service One Low Rate MyCard Mastercard automatically provides its members with this complimentary insurance cover:

  • Purchase cover insurance Feel confident making purchases on your Low Rate MyCard Mastercard, with up to $50,000 protection available automatically. If your purchase is lost, stolen or accidentally damaged within 3 months of the purchase, you’ll receive complimentary cover for this.
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Features of the Service One Members Banking MyCard MasterCard

A convenient, everyday credit card, the Service One Low Rate MyCard Mastercard comes with generous standard features including:

  • Annual fee. The Low Rate MyCard Mastercard has a small annual fee of $49 which is guaranteed for the life of the card.
  • Interest rate. At a low 12.99% p.a., purchasing with the Low Rate MyCard Mastercard means you pay less on outstanding balances and will be able to pay off your credit card sooner.
  • 1.9% p.a. balance transfer for 9 months. Consolidate your debt and pay your card off at one of the lowest rates available.
  • Up to 55 days interest free. So long as you maintain a $0 balance from month to month, all retail purchases are interest free for 55 days to allow you to get the most out of your money.
  • Guaranteed pricing scheme. With the guaranteed pricing scheme you are entitled to a refund of the price difference when you purchase an eligible item which later goes on sale.
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How to apply for this card

If you are looking for a convenient, everyday credit card and the Service One Low Rate MyCard Mastercard sounds appealing to you, click ‘Go to site’.

To be eligible for this card you must:

  • be over 18 years of age
  • have a good credit rating
  • be earning over $25,000 pa
  • be a permanent Australian resident

The simple online application takes about 10 minutes and you will need to provide:

  • your Australian driver’s license
  • proof of employment
  • your income details
  • your expense details

Automatic online approval can be granted but please note that verification of your identity may take a bit longer. You will receive confirmation via email and the cards will be sent to your mailing address.

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Credit Cards Comparison

Rates last updated January 18th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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