Teachers Mutual Bank Credit Cards

teachers mu logoCompare cards from a bank where education is the focus, both for their members and in their products and services

Teachers Mutual Bank began operations in the form of Teachers Credit Union in 1966. Starting from less than 30 members and a little over $600 in deposits, this financial institution now has more than 159,000 members and around $4 billion in assets. The change in name to Teachers Mutual Bank took place in 2012 after it received APRA approval. This member-owned financial institution offers products and services including day-to-day banking accounts, different types of loans, insurance solutions, financial planning advice and travel-related assistance.

Compare credit cards from Teachers Mutual Bank

Rates last updated September 23rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Teachers Mutual Bank Credit Card
No annual fee on your card plus a low interest rate on purchases.
7.9% p.a. for 6 months (reverts to 11.50% p.a.) $0 p.a. More info

Types of credit cards that Teachers Mutual Bank offers

Teachers Mutual Bank offers its members a Visa credit card that charges a low ongoing rate, and as of now this is its only credit card offering.

  • Low rate credit cards

If you intend keeping outstanding balances in your credit card account from one month to the next, getting a low rate credit card might interest you. The Teachers Credit Card comes with a low introductory rate for the first 6 months, which you can use for balance transfers as well. If you use this card in the right manner, you can get as many as 55 interest-free days on purchases. What also helps is that this card charges the same interest rate for purchases and cash advances.

Rates last updated September 23rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
Teachers Mutual Bank Credit Card
No annual fee on your card plus a low interest rate on purchases.
7.9% p.a. for 6 months (reverts to 11.50% p.a.) $0 p.a. Up to 55 days on purchases More info
Rates last updated September 23rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
Westpac Low Rate Card
A simple low interest rate card featuring a low ongoing rate on purchases, up to 55 days interest-free on purchases and a low annual fee.
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. Up to 55 days on purchases Go to site More info
ME Bank frank Credit Card
A low interest rate on purchases and cash advances with no annual fee charge.
11.99% p.a. $0 p.a. Up to 55 days on purchases 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. Up to 55 days on purchases Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Up to 55 days on purchases Go to site More info
Newcastle Permanent Value+ Credit Card
Enjoy a competitive annual fee and interest rates on purchases, cash advances, and balance transfers.
11.49% p.a. $49 p.a. Up to 55 days on purchases 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 2% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Up to 55 days on purchases Go to site More info
Westpac 55 Day credit card
Enjoy a balance transfer offer of 0% p.a. for 16 months, an introductory purchase rate of 1% p.a. for up to 12 months, plus a waived annual fee for the first year if applied by 11 October 2016.
1% p.a. for 12 months (reverts to 19.84% p.a.) 0% p.a. for 16 months $0 p.a. annual fee for the first year ($30 p.a. thereafter) Up to 55 days on purchases Go to site More info
Coles Low Rate MasterCard
A low rate MasterCard with a competitive rate on purchases and a low annual fee.
9.99% p.a. 0% p.a. for 6 months $49 p.a. Up to 62 days on purchases Go to site More info
NAB Low Fee Card
Enjoy a low introductory rate of 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $30 p.a. Up to 44 days on purchases Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Take advantage of this exclusive offer and enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 months on purchases.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $30 p.a. Up to 44 days on purchases Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate
Save on your existing credit card interest with 0% for 18 months on balance transfers with a low annual fee and low ongoing purchase rate.
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Visa
A low rate credit card with 0% for 18 months on balance transfers and low ongoing purchase rate from BankSA.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
Citi Clear Platinum Card
Enjoy 0% p.a. for 9 months interest-free purchasing and 0% p.a. for 9 months on balance transfers.
0% p.a. for 9 months (reverts to 14.99% p.a.) 0% p.a. for 9 months $99 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Platinum
Experience Platinum card benefits with complimentary insurance policies and 24/7 Visa Platinum Concierge Service. Get 0% for 20 months on balance transfers and 1% for 12 months if you apply by 29 September 2016.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Up to 55 days on purchases Go to site More info
Learn more about Low Rate Credit Cards

Benefits of banking with Teachers Mutual Bank

Teachers Mutual Bank members are its shareholders and can look forward to a wide array of advantages when they take on a product from the mutual. Getting a Teachers Mutual Bank credit card comes with a number of benefits, which include the following:

  • Access funds anywhere, anytime

The Teachers Credit Card comes with the convenience offered to you by Visa. If you’re looking to use your card for cash advances, any ATM displaying a Visa logo can help you get the funds you need. The same goes for purchases and for online shopping.

  • Minimal fees

You don’t have to pay any application fee to apply for the Teachers Credit Card, and you also won’t be charged an annual fee. This helps keep your upfront and ongoing costs minimal.

  • Visa benefits

Visa payWave, Verified by Visa and Visa Zero Liability are just some of the services you’ll enjoy when you use your Teachers Mutual Bank Visa card. Just wave and go when at stores where Visa payWave technology is enabled, as long as your transaction is under $100. The Verified by Visa services gives extra protection when you use your card to shop online, which helps support the convenient shopping options offered to you by the card. Finally, Visa Zero Liability means that if you take necessary precautions against credit card fraud you won’t be held responsible for fraudulent and unauthorised charges on your card.

  • Help manage your debts

You can use the Teachers Credit Card to consolidate your debts from other credit and store cards, and this can help you in two ways. You can reduce the number of cards you have to keep track of, and you can save in the form of interest.

Applying for a Teachers Mutual Bank credit card

You can apply for a Teachers Mutual Bank credit card by visiting any Teachers Mutual Bank regional office in NSW, ACT, or WA. You can also initiate the process by calling them directly. You can also apply for this card online. You can apply only if you have to meet the following eligibility criteria:

Application Criteria

  • You’re over 18 years of age
  • You don’t have bad credit history
  • You earn a minimum of $25,000 p.a.

Required documents

  • Personal. Start by providing your complete name, home address, email address, phone number, date of birth, marital status, and number of dependants.
  • Employment. This section requires your employment status, employer’s name, and employer’s contact details. If you’re self-employed or retired you’ll have to provide your accountant’s name and contact details.
  • Financial. This section requires information about your income, expenses, assets, and liabilities. Income comprises wages and income from all other sources. Assets can be real estate, motor vehicles, savings and investments. When calculating expenses, take into how much you spend towards rent, mortgage payments, utilities, school fees, transportation, food, and the like. Liabilities include all existing loans, credit cards, store cards, overdrafts and lines of credit.

What happens after applying?

You can complete the online application in around 15 minutes, and if you submit your application on a weekday you can receive conditional approval within 24 hours.  During this time, a Teachers Mutual Bank representative might contact you for additional information. Employment and income verification is part of the process, which can entail Teachers Mutual Bank making a phone call to your place of employment.

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Frequently asked questions

Given below are answers to certain questions about Teachers Mutual Bank credit cards that appear quite frequently. To leave behind a question that doesn’t appear below, you can use the form at the end of this page.

Can anyone apply for a Teachers Mutual Bank credit card?

This card is only for Teachers Mutual Bank members. If you’re not an existing member you have to be eligible to be a member.

How can I make repayments towards my Teachers Credit Card account?

You can opt for automatic deduction of your outstanding balance or minimum payment due from your Everyday account. You can transfer funds from other Teachers accounts using phone and online banking, you can make electronic deposits, you can pay via BPAY, and you can mail cheques issued by other financial institutions.

What are the minimum and maximum credit limits?

The minimum credit limit of the Mutual Credit Card is $1,000, and its maximum limit is $25,000.

Can I ask for an increase in my card’s credit limit?

You can request an increase in your card’s credit limit online or over the phone, but you have to meet certain criteria to qualify.

When I can apply for transferring balances, and is there a limit?

You can apply for a balance transfer by completing the relevant section during the application process, or you can provide the required details upon receiving your card. Transferred balances cannot exceed your card’s credit limit.

Can I add an additional cardholder?

Yes, you can add an additional cardholder linked to your primary Teachers Credit Card account, as long as the individual in question is over 18 years of age. You can apply for an additional card online, over the phone, or by visiting a Teachers Mutual Bank regional office.

How often do I get a credit card statement and what else should I know about it?

You get a statement for your Teachers Credit Card each month, and you can choose to receive it by regular mail or via internet banking. This provides details of all transactions, fees, charges, and payments during the given period, and also indicates the next due date.

What if I lose my Teachers Credit Card?

To report a lost or stolen card you should call Teachers Mutual Bank immediately. Replacement of lost, damaged and captured cards will attract a fee.

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Credit Cards Comparison

Rates last updated September 23rd, 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

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