Police Credit Union Extralite Credit Card – Review

Information verified correct on September 29th, 2016

Enjoy a low ongoing interest rate on purchases and cash advances, a low minimum credit limit and interest-free days with the Police Credit Union Extralite Visa credit card.

The Police Credit Union Extralite is a no annual fee and low rate Visa credit card. Pay just 11.99% p.a. on purchases. You can avoid the purchase rate of interest altogether if you pay your account in full by the statement due date – the Police Credit Union give you up to 44 days interest-free on over-the-counter and payWave purchases using the Extralite credit card. Read on to compare the fees, features and benefits and find out how to apply.

Product NamePolice Credit Union Extralite Credit Card
Purchase rate (p.a.)11.99% 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 44 days on purchases
Cash advance rate (p.a.)11.99% 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
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Minimum Monthly Repayment3% or $20, whichever is greater
Card TypeVisa
Late Payment Fee$15
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
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
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Annual Fee$0 p.a.
Minimum Repayment3% or $20, whichever is greater
Late Payment Fee$15
Over Limit Fee$30
Cash Advance Fee$4
Overseas Cash Advance Fee$4

The Police Credit Union Extralite Visa Credit Card review

This is a low rate Visa card which is cheap to use for cash advances as well as purchases. The one flat rate of interest, 11.99% p.a., applies to both transactions, though you can also take advantage of interest-free days. Cash advance transactions are ineligible for interest-free days and interest-free days do not apply if you’re carrying a balance transfer balance.

What’s more, you won’t pay an annual fee. The Police Credit Union Extralite Visa Credit Card can sit in your wallet and only come out for emergencies. If you do use the credit card for purchases, make use of the interest-free days feature and this Visa credit card costs nothing to own or use.

Benefits of the Police Credit Union Extralite Visa Credit Card

  • Low ongoing purchase rate of interest. The standard variable purchase rate of interest is 11.99% p.a. This rate of interest applies to all transactions using the Police Credit Union Extralite Visa Credit Card.
  • No annual fee. The Police Credit Union Extralite Credit Card is free to own. The Police Credit Union do not charge an annual fee for this product.
  • Interest-free days. The Police Credit Union give you up to 44 days interest-free when you use the Extralite Visa credit card to make over the counter and payWave purchases. You can continue to get interest-free days if you pay your account in full each month by the due date on your statement.

Features of the Police Credit Union Extralite Visa Credit Card

  • Balance transfers. You can transfer your non-Police Credit Union credit or store card debt to the Extralite Visa so you can save on interest repayments. You can use up to your available credit limit towards a balance transfer facility.
  • Additional cardholders. Get a free extra card for a friend or family member over the age of 18. Additional cards have a unique card number but share the same credit limit.
  • Low credit limit. This low rate credit card features a low minimum credit limit of $1,000. You can apply for this Visa credit card if you’re on a low income.
  • Visa credit card. This low rate credit card from Visa can be used at millions of shops and ATMs around the world. A currency conversion fee applies when you make a purchase in a different currency.
  • Fraud protection. The Police Credit Union protect your account using the Guardian Fraud Protection Service. This security feature monitors your account for suspicious transactions and can help you recover lost funds if you’re the victim of credit card fraud. Visa also give you peace of mind through the Visa Zero Liability Guarantee. This guarantee gives you a full reimbursement if any unauthorised credit card purchases are detected on your account.
  • Visa contactless payments. Make Visa payWave payments at contactless terminals around the world. Tap your Extralite Visa against a contactless terminal to make purchases under $100 in seconds. Visa payWave purchases are capped at $400 per day and the Police Credit Union give you the option of disabling Visa payWave if you wish.
  • Minimum monthly repayment. You are required to pay 3% or $20, whichever is greater of your outstanding balance each month. A $15 late payment fee applies if you don’t make the minimum repayment within 21 days of the due date on your credit card statement. The fee is increased to $25 if the payment isn’t made within 35 days.

How to apply for the Police Credit Union Extralite Visa credit card

If you’ve compared your options and decided you’d like to apply for this card, make sure you meet the eligibility requirements and have the required documents on hand:

Eligibility requirements

  • Age. You must be 18 or older to apply for this credit card.
  • Residency. You must be a permanent Australian resident or citizen.
  • Minimum income. No minimum income requirement is listed by the Police Credit Union. You must have a regular income and be able to service the minimum credit limit of $1,000.

Required documents

Make sure you have the following information when you apply for the Police Credit Union Extralite Visa Credit Card:

  • Identification. You must become a member of the credit union when you apply for the Visa credit card. You can complete this step online using your driver’s licence, passport or Medicare card.
  • Income and assets. List information about your income, your employer and any income generating assets such as savings or investment accounts. You can apply for this account if you’re working casual, full time, part time or if you’re self employed.
  • Expenses and liabilities. Provide details about your ongoing monthly expenses, liabilities and information about other credit cards if you want to carry out a balance transfer.

The Police Credit Union Extralite Visa Credit Card gives you interest-free days and a low purchase rate so you can make purchases without racking up costs. This isn’t the only low rate card on the market though, so make sure to compare a few options before you apply.

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Rates last updated September 29th, 2016
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