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BankVic - Low Rate Visa Credit card

This credit card from BankVic has a $0 annual fee, and up to 44 days interest-free on purchases. It has a cash advance interest rate of 13.95% p.a. and a balance transfer interest rate of 13.95% p.a.. There is a minimum credit limit of $1,000.

Compare Credit CardsProduct Image For BankVic - Low Rate Visa Credit card
An annual fee of $0 and a purchase interest rate of 13.95% p.a..
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Annual Fee

$0 per year

Balance Transfer

8.99% for 6 months reverts to 13.95% p.a.

Purchase Rate

8.99% for 6 months reverts to 13.95% p.a.

Interest Free Period

up to 44 days
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Details

Card Type
Visa
Minimum Repayment
2.50% or $20
per statement, whichever is greater
Interest Free Period
up to 44
days
Minimum Credit Limit
$1,000
Maximum Credit Limit
$20,000

Fees

Annual Fee
$0
per year
Late Payment Fee
$15
per statement

Rates

Purchase Rate
8.99% for 6 months
reverts to 13.95% p.a.
Cash Advance Rate
13.95% p.a.

Balance Transfer

Balance Transfer
8.99% for 6 months
reverts to 13.95% p.a.

Overseas Spending

Foreign Currency Conversion Fee
3.65%
per transaction

Eligibility

Minimum Age
18
years old

Perks

Complimentary Travel Insurance
No
Airport Lounge Access
No

Who is the product designed for?

These customers are likely to have the following objectives, needs, financial situation and must meet the eligibility criteria for this product:

Likely Objectives

  • Offers a revolving credit limit to cover everyday expenses or to consolidate debt
  • Ability to access available credit for day-to-day transactions and to cover short-term financial gaps
  • Low balance transfer rate

Likely Financial Situation

  • Has sufficient disposable income to service the credit card
  • Regular income may include penalty rates, overtime, and bonuses

Likely Needs

  • Access to personalised guidance and support from an experienced credit card lender
  • Individual assessment of credit card serviceability
  • Available credit can be accessed at any time through a linked Visa credit card and digital banking
    applications
  • Visibility of available credit, including the date and amount of repayments and transactions, can be
    accessed using digital banking applications, during operating hours through telephone banking or at a BankVic branch

Eligibility criteria

  • Eligible for BankVic membership
  • Aged 18+ years
  • Have not declared bankruptcy or insolvency, or had defaults on any loans, credit cards, interest free finance or store cards in the last five years
  • Has sufficient disposable income to service the credit card
  • Approval subject to BankVic credit assessment
Visit BankVic to view Target Market Determination Effective From: 2022-04-01.

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