South West Credit Amigo Visa Card
Get a low, ongoing interest rate for purchases, cash advances and balance transfers.
The South West Credit Amigo Visa offers an interest rate of 13% p.a. and an annual fee of $60. You can also enjoy up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement.
|Product Name||South West Credit Amigo Visa|
|Balance transfer rate||13% p.a.|
|Purchase rate||13% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||13% p.a.|
|Min credit limit||$1,000|
|Max credit limit||$15,000|
|Foreign currency conversion fee||3%|
|Available to temporary residents||No|
- Low interest rate of 13% p.a. on purchases, balance transfers and cash advances.
- Additional card at no extra cost
- Up to 55 days interest-free on purchases
- No travel insurance or rewards program
- Must be a member of the South West Credit Union to apply
|Minimum monthly repayment||3% of the closing balance or $20, whichever is greater|
|Late payment fee||$25|
|Foreign currency conversion fee||3%|
|Overseas cash advance fee||$5|
|Additional cardholder fee||$0|
How to apply
You can apply for the South West Credit Amigo Visa by filling out a credit card application form on the bank's website. While there is an option to fill out the form via your computer, you need to print and sign it before returning it to the bank.
If you're submitting a joint application, the other person will also have to provide their details on the same application form. As part of the application process, make sure you meet the following requirements and have all the details and documents you'll need to submit the form.
- Residency. You must be an Australian permanent resident or citizen.
- Income and employment. You need to have regular income from a job that you have held for at least 3 months.
- Credit history. To apply for a credit card with South West Credit, you must not currently be bankrupt. You also can't have defaults on any loans, credit cards, interest-free finance or store cards in the last 5 years. If you're unsure what details are listed, check your credit file for free before applying.
- Age. You must be at least 18 years of age to apply for a credit card in Australia.
Documents and details to provide
- Personal information. This includes your full name, date of birth, marital status, driver's licence number, residential address, email address and contact number. If you have lived in your current home less than 3 years, you'll also need to provide details of your previous address.
- Membership details. You need to provide your South West Credit membership number as part of the application. If you're not already a member, you can apply via the South West Credit website.
- Account details. This includes your requested credit limit and details of any additional cardholder you want included on the account.
- Employment details. This includes your occupation and your employer's name and contact details. If you have been with your current employer less than 3 years, you will be asked for details of your previous job. You also need to include copies of your 2 most recent payslips, along with either your 2 most recent PAYG statement summaries or tax assessment notices.
- Financial details. This includes your pre-tax income, other forms of income and assets such as property, vehicles and savings. You also need to share details of your existing loans, debts and other financial commitments.
- 13% p.a. interest rate. This card offers the same competitive interest rate for retail purchases, cash advances and balance transfers.
- Interest-free days. Get up to 55 days interest-free on purchases when you pay the full amount listed on your previous statement by the due date.
- Visa offers. Visa Entertainment gives you access to exclusive offers for concerts, live performances, movies and other events. You can also enjoy a range of seasonal travel, dining and retail offers listed on the Visa Australia website.
- $0 additional card. If you want to share your account with a family member, you can request an additional card at no extra cost. Note that you will be responsible for all charges and repayments on the account.
- Contactless payments. Make tap-and-go payments at the checkout without needing to enter a PIN if your purchase is under $100.
Rates & fees
- Annual fee. This card has an annual fee of $60, which is competitive among low rate cards.
- Balance transfers. If you have debt on an existing credit card or store card, you can fill in a balance transfer request form to have it transferred to this card. Note that your debt must be at least $500 and cannot be from an account issued by Community First Credit Union (which is the issuer of the South West Credit Amigo Visa). The 13% interest rate will apply to any balance transferred to this account. If you want a promotional 0% p.a. interest rate for your balance transfer, compare other cards before you apply.
- Foreign transaction fee. A fee of 3% applies to transactions made in a foreign currency or processed overseas. This means you may pay a foreign transaction fee when you're travelling or when you're shopping online with a business that is based overseas.
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
The Amigo Visa is a straightforward credit card suited to members of South West Credit – or anyone looking for an alternative to the big banks. While most credit cards charge a higher rate for cash advances and balance transfers (outside of promotional offers), this card offers the same 13% p.a. interest rate for these transactions, as well as your retail purchases.
But even though both the ongoing interest rate and annual fee on this card are competitive, it’s worth comparing with other options to see if you can find a card with more competitive rates and fees to suit your goals.