Bank Australia Visa Credit Card – Rates and Fees

Information verified correct on September 28th, 2016

Save on credit card costs and bank responsibly with the eco-friendly Bank Australia Visa Credit Card.

Ever come across a credit card that was green? The Bank Australia Visa Credit Card is one of Australia’s only cards made from PETG plastic, an environmentally responsible and sustainable material. The Bank Australia Visa Credit Card is also competitively priced. The annual fee is $0 which helps to keep your costs low.

Product NameBank Australia Visa Credit Card
Purchase rate (p.a.)12.39% p.a.
Annual fee$0 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.)12.39% 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
Minimum Monthly Repayment2.5% or $20 whichever is greater
Card TypeVisa
Late Payment Fee$0
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
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.
$1,000
Annual Fee$0 p.a.
Minimum Repayment2.5% or $20 whichever is greater
Late Payment Fee$0
Cash Advance Fee$3.50
Overseas Cash Advance Fee$3.50
Overseas Emergency Replacement$175
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$3.50
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
MailYes

Pros

  • There is $0 annual fee, so this card will cost you nothing to use if you pay your balance.
  • This card has an interest rate on purchases and cash advances of just 12.39% p.a. To hear of a purchase rate of interest this low is good, but to have a cash advance rate of interest below 20% is almost unheard of.
  • Environmentally responsible card made out of PETG friendly plastic.

Cons

  • This card has no rewards program.
  • This card does not offer a balance transfer feature.

Bank Australia Visa Credit Card review

The Bank Australia Visa Credit Card is an alternative choice for customers looking to move away from credit cards offered by mainstream lending institutions. Credit cards from mutual societies, like Bank Australia, offer rates and fee structures that are among some of the most competitive in the market. The Bank Australia Visa Credit Card has the same purchase and cash advance rates of interest: 12.39% p.a.

Our Bank Australia review will outline the features of the account and provide information on how to apply if you’re looking to get the card.

Benefits of the Bank Australia Visa Credit Card

  • Purchase and cash advance rate of interest. Use the Bank Australia Visa Credit Card to make a purchase or to withdraw cash. An interest rate of 12.39% p.a. applies to the transaction.
  • Interest-free period. When you pay your balance in full each month receive up to 55 days interest-free on purchases.
  • Made from eco-friendly material. Bank Australia cards are made from PETG plastic, which is an environmentally friendly material. You can shop with confidence knowing that your choice of card will not damage the environment.
  • Visa access. As this is a Visa credit card, you can use the Bank Australia Visa Credit Card wherever Visa is accepted. This include over the counter and at ATMs that display the Visa logo, which is at millions of locations worldwide.
  • Visa cardholder advantages. Apply for this account and you get access to a number of benefits available to Visa cardholders:
    • Tap and go for purchases under $100 with Visa PayWave. There’s no need to enter your PIN with contactless enabled credit cards.
    • Visa preferred seating and Visa Entertainment get you preferential access to tickets for cultural and sporting events as well as discounts on movie tickets and special ‘buy one get one free’ offers.
    • Shop securely online with Visa’s V.me by Visa digital wallet service

Features of the Bank Australia Visa Credit Card

  • Annual fee. The Bank Australia Visa Credit Card has an annual fee of $0, meaning you pay no ongoing fee to own and keep this account.
  • Interest rates. The purchase and cash advance rates of interest on the Bank Australia Visa Credit Card are the same: 12.39% p.a.
  • Interest-free days. There are up to 55 days interest-free on offer with this account.
  • Additional cardholders. Add supplementary cards to the account for a fee of $0 each.
  • Visa services. This is a Visa card. Get approved for this account and as a Visa cardholder, you’re entitled to receive Visa cardholder benefits including access to Visa Entertainment and Visa Preferred Seating.

How to apply for the Bank Australia Visa Credit Card

If you would like apply for this credit card you can follow the secure link on this page to the Bank Australia website. From there, you can either submit your personal details or choose to submit a full application. If you choose to submit your personal information a Bank Australia consultant will be in touch with you. Before applying, you can confirm your eligibility for this product based on the requirements below.

Eligibility criteria

  • Have a good credit rating.
  • Be over the age of 18.
  • Be a permanent Australian resident.
  • You must currently earn a regular income.

Required documents

  • Personal details (name, address, drivers license etc.)
  • Financial details (details of your income, employment details, assets and liabilities)

The application should only take about 10-15 minutes to complete. You should have a response from the lender within minutes of completing and submitting your application.

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43 Responses to Bank Australia Visa Credit Card – Rates and Fees

  1. Default Gravatar
    Mrboss | October 18, 2015

    I would like a visa?

    • Staff
      Arra | October 19, 2015

      Hi Mrboss,

      Thanks for your inquiry.

      You may like to refer to this page for more Visa credit card options.

      I hope this has helped.

      Cheers,
      Arra

  2. Default Gravatar
    gail | May 26, 2015

    Hi,
    Can you please clarify whether or not there are interest free days with your card. I intend to pay full balance on the due date. The wording in your information is quite confusing as it refers to 55 interest free days and no interest free days.
    Kind regards gail

    • Staff
      Jonathan | May 27, 2015

      Hi Gail, thanks for your inquiry and taking the time out to let us know about the wording.

      There are up to 55 days interest free on purchases available with this credit card.

      Cheers,

      Jonathan

  3. Default Gravatar
    Francis | May 9, 2015

    Why is this card not listed on your ‘No Annual Fee’ or Low Interest Rate’ card types? The Me Bank MC is also not listed in these and it has one of the lowest rates without being a balance transfer option. For a comparison service, why are you leaving out these products?. Are there any other credit cards that have no annual fee and interest under 15% that are not listed or do I have to got through the card providers one by one?

    • Staff
      Elizabeth | May 13, 2015

      Hi Francis,

      Thanks for your question.

      We aim to provide a comprehensive review of credit cards in the Australian market, which is the purpose of our review pages. Unfortunately having each and every credit card in the Australian market, due to the sheer number, isn’t a possibility in our comparison tables, which is why we have all the details available on our credit card review pages and provider pages so you can have all the information at your disposal and use it to come to a decision.

      I hope this has helped.

      Thanks,

      Elizabeth

  4. Default Gravatar
    Rod | February 20, 2015

    are age pensioners eligible for the visa credit card ?

    • Staff
      Jonathan | February 20, 2015

      Hi Rod, thanks for your inquiry!

      If you meet application requirements you will be eligible for Bankmecu’s Visa Credit Card.
      The application requirements are as follows;
      Have a good credit rating.
      Be over the age of 18.
      Be a permanent Australian resident.
      You must currently earn a regular income.

      Cheers,

      Jonathan

  5. Default Gravatar
    | August 16, 2014

    hello,
    I have been studying credit cards for over 2 weeks now and have come across the Bankmecu visa cards.
    As I’m currently on Disability Pension can I apply for one of your low rate cards? I have a Visa card with another bank and it’s annual fee and other fees are extremely high, can I do a Balance Transfer to the Bankmecu Visa if I’m accepted?

    • Staff
      Shirley | August 18, 2014

      Hi Tony,

      Thanks for your question.

      These type of applications are handle on a case by case basis. I’d recommend speaking to bankmecu directly without making and formal applications to enquire about your eligibility.

      In terms of a balance transfer, currently this card doesn’t have one.

      If you’d like, you can compare balance transfer cards on this page.

      Cheers,
      Shirley

  6. Default Gravatar
    Caryl | July 22, 2014

    Does your credit union allow joint holders of the one credit card. I want to apply for one credit card with 4 family members.

    • Staff
      Shirley | July 23, 2014

      Hi Caryl,

      Thanks for your question.

      Unfortunately the bankmecu Visa card doesn’t offer joint applications. However, you can have additional cardholders linked to the account.

      Cheers,
      Shirley

  7. Default Gravatar
    Ann | April 11, 2014

    What is the late payment fee on the Bankmecu Visa Credit Card?

    • Staff
      Jacob | April 11, 2014

      Hi, Ann.

      There is currently no late payment fee for this product.

      Thanks for your question.

  8. Default Gravatar
    Marilyn | March 4, 2013

    If travelling overseas, what are the charges for drawing cash from your credit card, or would you use a debit card to do this? Is mecu debit card user friendly overseas? Basically I want to know the cheapest way of getting cash in a foreign country whilst travelling.
    Regards
    Marilyn

    • Staff
      Marc | March 5, 2013

      Hello Marilyn,
      thanks for the question.

      When travelling overseas with a credit card there are generally fees for making purchases and fees for withdrawing money from an ATM. This page compares the different fees for making overseas transactions for different institutions as well as the ATM fees which may be applicable. Bankmecu debit cards have a charge of $5 or 1% of the transaction, whichever is greater.

      This article might also be useful, it compares travel cards and debit cards, which are other options to take overseas when travelling.

      I hope this helps.

  9. Default Gravatar
    Azzah | September 9, 2012

    how do i apply for a visa card that has 13.49%. can a pensioner apply for this kind of card. Thanks

    • Default Gravatar
      John | April 4, 2014

      Where do you pay your monthly repayment?

    • Staff
      Jacob | April 7, 2014

      Hi, John.

      Thanks for your question.

      You can pay your account at any Bankmecu branch, using BPAY from the online facility of another financial institution, by cheque or via electronic funds transfer. You be given a list of options on how to pay the account when your statement arrives in the mail.

      I hope this helps.

  10. Default Gravatar
    Wendy | July 30, 2012

    Please advise maximum credit card limited I may choose to apply for.
    thank you

    • Staff
      Jacob | October 10, 2012

      Hi Wendy. There is no set limit, the maximum credit limit will be assigned based on the financial information you provide to the lender during application. Thanks.

Credit Cards Comparison

Rates last updated September 28th, 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
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 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

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.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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