WAW Low Rate MyCard MasterCard Review

Information verified correct on December 4th, 2016

This card charges with a low ongoing rate for purchases as well as complimentary insurances for your shopping.

Take control of your spending with the WAW Low Rate MyCard MasterCard. As its name implies it charges a low ongoing rate, which applies on purchases. The purchases you buy using this card receive complimentary insurance covers and those purchases can also be covered by up to 55 interest-free days if you pay your balance back in full.

Product NameWAW Low Rate MyCard MasterCard
Balance transfer rate (p.a.)0% p.a. for 9 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (12.99% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)12.99% p.a.
Offer end date31 January 2017
Annual fee$75 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.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% 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.
$2,000
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$25,000
Card TypeMasterCard
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
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.
$2,000
Annual Fee$75 p.a.
Minimum Repayment2% or $30 whichever is greater
Overseas Cash Advance Fee$5.00
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

WAW Credit Union Low Rate MyCard MasterCard Review

This credit card provided by WAW Credit Union requires your attention if you’re on the lookout for a line of credit that protects your purchases while helping you save on interest. If you use this card in the right manner, you can get as many as 55 interest-free days on purchases. Applying in time gives you the ability to keep paying a discounted annual fee for as long as your account remains active.

Benefits of the WAW Credit Union Low Rate MyCard MasterCard

  • Low ongoing rate. If you’re the kind of credit card user that keeps balances rolling in the account from one billing cycle to the next, this card’s low 12.99% p.a. purchase rate can lead to savings in the long run.
  • Complimentary insurances. Purchase cover insurance applies on damaged, lost, or stolen products, for up to 90 days from the date of purchase, while the guaranteed pricing scheme gives you the ability to get a refund if an item you purchase goes on sale soon after.
  • Use anywhere, anytime. You can use this card in retail establishments the world over, as long as you see the MasterCard sign, and the same applies to withdrawing money from ATMs. You can also use this card for online and over the phone purchases and bill payments.

WAW Credit Union Low Rate MyCard MasterCard Features

  • Annual fee. If you apply for this Low Rate MasterCard before a given date, you can keep paying a discounted annual fee of discounted annual fee of $49 for the life of the card.
  • Interest free days. By paying the closing balance mentioned on your statement in full every billing cycle, you stand to get up to 55 interest-free days on purchases.
  • Complimentary insurances. Retail purchases made using this Low Rate MasterCard receive protection through guaranteed pricing scheme and purchase cover insurance.
  • Additional cards. You can request up to 4 free additional cards for individuals over 16 years old.
  • Fraudshield. This service monitors your credit card account and informs you upon detecting suspicious activity immediately.
  • SecureCode. This online service works as an additional line of defence when your card’s details are used to spend online.
  • PayPass. This technology lets you make contactless payments for purchases less than $100.
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How to apply for the WAW Low Rate MyCard MasterCard

You can speak to a WAW Credit Union loan specialist over the phone to get started, or you can submit an online enquiry.

Before you do, establish if you meet the following application criteria:

  • You’re at least 18 years old
  • You’re a permanent Australian resident
  • You have good credit history
  • You earn at least $25,000 p.a.

Successfully completing the application requires that you provide a variety of personal, job-related, and financial information:

  • Personal information includes your date of birth, marital status, driver’s licence number and contact details
  • Job-related information includes your employment status along with your employer’s name and contact details
  • As part of the required financial information, prepare to provide details about your income, expenses, assets, and liabilities

This card offers various features that make it a competitive option to consider. As with any financial product, before you apply, compare it with similar ones to ensure it's the right card for you.

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Credit Cards Comparison

Rates last updated December 4th, 2016
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
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. 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 finder.com.au 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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