Beyond Bank Low Rate Visa Credit Card – Rates and Fees

Information verified correct on October 1st, 2016

Repay your debt with a balance transfer of 0% for 5 months and save on purchases with up to 62 interest free days with the Beyond Bank Low Rate Visa.

Beyond Bank customers can enjoy a low rate visa credit card which offers up to 62 days of interest free purchases. The credit card also gives you an interest rate of and you can enjoy quick payments using Visa payWave.

Credit card holders get to enjoy credit limits from $1,000 for an annual fee of $49

Product NameBeyond Bank Low Rate Visa Credit Card
Balance transfer rate (p.a.)0% p.a. for 5 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (12.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)12.49% p.a.
Annual fee$49 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 62 days on purchases
Cash advance rate (p.a.)19.99% 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
Card TypeVisa
Foreign Currency Conversion Fee (VISA)3% of transaction value
Complimentary Travel Insurance Cover0 months
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$49 p.a.
Over Limit Fee$11
Cash Advance Fee$4
Overseas Emergency Replacement$350
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Beyond Bank Low Rate Visa Credit Card review

Beyond Bank offers a competitive interest rate on purchases of new card holders get to enjoy interest free retail transactions for up to 62 days (this applies if you pay back your balance in full every statement period).

In addition to the competitive rates, cardholders can shop with convenience with Visa payWave technology. You’ll also receive peace of mind knowing that you’re protected by the Visa Zero Liability Policy against unauthorised purchases and get extra protection with Smart Chip Technology.

Beyond Bank was formally Companion Credit Union (alongside its parent company, Community CPS Australia). On 1 August 2013, they became a mutual bank now known as Beyond Bank Australia.

Benefits of the Beyond Bank Low Rate Visa Credit Card

  • Balance transfer offer. Take advantage of low balance transfer offer of 0% p.a. for 5 months. If you have a debt that’s accruing high interest rates, you can use this balance transfer to repay your debt quicker and cheaper.
  • Competitive purchase rate. This is a low rate credit card and you get to enjoy competitive interest rates with your purchases. The purchase rate is 12.49% p.a.
  • Low annual fee. You have access to a wide range of features available for the low annual fee of $49. The annual fee is to be paid at the end of the month which you acquired the credit card and on the same end month every year afterwards.
  • Competitive cash advance fee. Card holders also get to benefit from a cash advance rate of only 19.99% p.a. A cash advance fee of $4 is applicable when you conduct cash advance transactions using this credit card.
  • Low transaction fees. There are a host of fees applicable with the credit card and these too are charged a low fee. These fees include: declined transaction fee: $1.25, Bank@Post withdrawals and deposits: $3, default fee: $25 and default notice fee: $20.
  • Smart Chip Protection. The credit card features a Smart Chip and this decreases your exposure to card skimming, counterfeiting and other fraudulent activities.
  • Verified by Visa. You also get added protection with Verified by Visa which is a Visa check that ascertains that it is indeed the card holder making the transaction.
  • Zero liability policy. This feature can be classified as a security feature, as it protects the card holder against dealing with losses that arise from fraudulent use of the credit card. You will not be held liable for purchases or any type of transaction that is made using your account information or credit card.
  • Wave and go. Visa payWave allows you to conveniently make transactions by simply waving your credit card over a PayPass terminal. In other words, you don’t have to swipe or insert the credit card and enter your PIN to pay for your purchases. You have contactless transactions.
    The payWave feature is applicable for transactions valued at $100 or less. It also offers you enhanced security against fraud with the EMV chip technology. Due to the Zero Liability policy, you are assured that you will not undergo losses due unauthorised transactions.

Beyond Bank Low Rate Visa Credit Card features

Beyond Bank Low Rate Visa credit card gives you access to the following features:

  • Generous credit limits. Credit limits start from $1,000. Your maximum limit is subject to approval.
  • Annual fee. The annual fee for the low rate Visa card is $49.
  • Interest free days. You have up to 62 interest free days on retail purchases.
  • Interest rates. You have competitive interest rates on purchases of 12.49% p.a.
  • Zero liability policy. All Visa cardholders get to enjoy the Visa Zero Liability Policy which does not hold the credit card holder liable for fraudulent transactions.
  • Smart Chip Protection. You get to enjoy added security against skimming and counterfeiting with Smart Chip Technology.
  • payWave. Credit card holders can pay for purchases with ease using the wave and go feature on PayPass terminals.
  • Verified by Visa. Another security feature is Verified by Visa which verifies the identity of the cardholder before processing transactions online.

How to apply for the Beyond Bank Low Rate Visa Credit Card

You can find the application criteria for this low rate credit card in the table below:

Eligibility criteria

  • Be at least 18 years old
  • Provide credit card details in the initial stage of the application

The bank allows you to select your credit limit and you can select if you want to have an additional card holder. Once you are done with the credit card details section, click on ‘start my application’.

Required documents

  • Your identification details
  • Income
  • Assets and liabilities

If you don’t have all information requested ready, you can save the application and resume at a later date or time. Make sure that you fill in all required fields failure to which your application will not be successfully submitted.

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2 Responses to Beyond Bank Low Rate Visa Credit Card – Rates and Fees

  1. Default Gravatar
    | October 30, 2015

    Hi, I’m a carer on centrelink payments. Do I meet the banks lending criteria?
    I would like to balance transfer my ANZ Visa.
    Thank you.

    • Staff
      Sally | October 30, 2015

      Hi Adrian,

      Thanks for your question.

      Usually as long as you meet the minimum income requirement and the other eligibility criteria, you shouldn’t have an issue applying.

      The terms and conditions available on Beyond Bank’s website don’t mention and limits on income through Centrelink, so you may need to get in contact with their customer service team directly to confirm your eligibility.

      I’ve emailed you their contact details for your convenience.

      I hope this has helped.

      Thanks,

      Sally

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