Choose a bankmecu credit card from that is flexible to suit your needs
bankmecu is a co-operative, owned and controlled by their members. bankmecu has a great deal of respect in Australia and throughout the world for following a sustainable approach to banking. bankmecu is now one of the largest credit unions in Australia, with a very competitive credit card offering.
Comparison of other Credit Cards with bankmecu Credit Card
bankmecu Low Rate Visa credit card
Coles No Annual Fee MasterCard
American Express Platinum Edge Credit Card
Coles Rewards Mastercard
American Express David Jones
|Purchase Rate (p.a.)||10.14% p.a.||17.99% p.a.||20.74% p.a.||19.99% p.a.||20.74% p.a.|
|Balance transfer rate (p.a.)||0% p.a. for 6 months||0.99% p.a. for 6 months with 1% balance transfer fee||0% p.a. for 6 months|
|Offer end date||31 December 2013||28 February 2014|
|Cash advance rate (p.a.)||10.14% p.a.||17.99% p.a.||19.99% p.a.|
|Interest Free Days||0 days||62 days||55 days||62 days||44 days|
|Fees & Charges|
|Annual Fee||$59 p.a.||$0 p.a.||$195 p.a.||$49 p.a.||$99 p.a.|
|Balance Transfer Fee||1%|
|Late Payment Fee||$25||$30||$25||$30|
|Over Limit Fee||$20||$15||$15|
|Overseas Emergency Replacement||$175||$0|
|Overseas ATM Balance check||$0|
|Overseas ATM Withdrawal||$3.50||$4||$5|
|Foreign Currency Conversion Fee (VISA)||2% of transaction value|
|Foreign Currency Conversion Fee (MC)||2.5% of transaction value||2.5% of transaction value|
|Foreign Currency Conversion Fee (AMEX)||3% of transaction value||3% of transaction value|
|Gambling Transactions Allowed||No||No||No||No||No|
|Additional Cardholder Fee||$0||$29|
|Number of Additional Cardholders||9||1|
|Minimum Age||18 years of age||18 years of age||18 years of age||18 years of age||18 years of age|
|Available to Temporary Residents||No||No||No||Yes – Conditions apply||No|
|Credit Rating Requirement||Good||Good||Good||Good||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.
|Max Credit Limit||$50,000||$30,000|
bankmecu Visa Credit Card
The bankmecu Visa Credit Card from bankmecu boasts that it offers customers all kinds of benefits and features that have never been seen before. One of their biggest features is that they promise never to bother you by giving annoying sales talks and making marketing calls to you if you become one of their customers. Lets have a look at some of the things that this bankmecu Visa Credit Card has to offer.
bankmecu Visa Fees and Charges
To start with, this bankmecu Visa has a $0 annual fee, which is great. This can save you a lot of money in the long run, because you will be saving fees of around $50 to $100 depending on which credit card provider you are looking at.
In addition to this, they offer a 13.14% interest rate for purchases. This is also low in comparison with other cards. Also, this credit card offered customers 55 interest free days, which is great, as you will have a little extra time to make your payments and to clear your balance.
If you are a responsible consumer and only spend within your means and fully pay off what you spend before the interest free days have finished, then this card will actually be completely free of charge for you to use. As you will not have an annual fee or any interest to pay. This is a really good card for the financially responsible spender.
bankmecu Low Rate Visa Credit Card
In addition to their great Visa card, bankmecu offer a Low Rate Visa card too. This offers the same zero marketing guarantee that comes with the regular bankmecu Visa card. bankmecu disagree with the other banks that sell you unwanted products and make you increase your credit limits.
bankmecu Low Rate Visa Fees and Charges
This Low Rate Visa from bankmecu has a $59 annual fee. While this is higher than the $0 fee for the regular bankmecu Visa card, the interest rate on this Low Rate card is only 10.14% However, there is no interest free period. This card is more favourable over the regular Visa card, but only if you think that you will have balances carried over at the end of the month. Even though there is a monthly fee, the lower interest rate will save you money if you are not able to pay your balance off in full.
What Else Does bankmecu Offer?
bankmecu pride themselves on providing their customers with environmentally responsible credit cards that are made only with PETG plastic. Also, because they are an environmentally responsible company, they do not waste resources by sending you junk mail every other day.
In addition to this, having a Visa card allows you to shop and spend in millions of locations around the world. Having a Visa card allows you to withdraw cash from millions of ATM machines all throughout Australia and around the world.
As a bankmecu customer you will be able to manage your finances online with bankmecu’s 24/7 online banking system.
For your next credit card, consider a Visa from bankmecu. You will get their great service, a widely accepted credit card and a service that promises to be completely hassle free.
General Information on Credit Unions
A bank is a privately owned for profit entity that exists to make money for its owners or stockholders. A credit union is a cooperative owned by its members that exists to provide basic financial services for those members.
Credit unions were originally formed in Europe and America to provide banking services to average people.
Many credit unions were organised by unions and other labor organisations for the purpose of providing banking services for working people. Credit unions enable working people to pool their money and resources in order to help their neighbors and co-workers.
This means that if you open an account with bankmecu you will be one of bankmecu’s owners. bankmecu exists to serve you, not to turn a profit for a foreign owned corporation or a group of investors. bankmecu’s owners are 140,000 Australians, not shadowy investors who only care about profits.