The Bank SA Gold low rate credit card is a gold card that unlike many prestige cards has a low interest rate. It is offered by BankSA and VISA.
Gold cards are prestige cards that traditionally trade higher costs, particularly interest rates and annual fees in return for a superior level of service. The Bank SA Gold low rate card tries to do both.
Although Bank SA has cards with considerably lower interest rates, and with a guarantee of a long term low rate the rate that they offer on the Bank SA Gold low rate is genuinely a low rate for a gold card, and unlike many other gold cards it is competitive with classic and silver credit cards. There is also an interest free grace period of up to 55 days after the purchase has been made. The interest rate charged for cash advances is higher.
The annual fee at $79 is also competitive with standard credit cards and lower than most similar prestige cards. It allows up to three additional cards that are available for family members and friends.
The card offers complimentary overseas travel insurance, which covers the card holder and their family for unexpected trip delays and cancellations, medical expenses and other travel related expenses. To activate this insurance then the ticket needs to be bought on the Bank SA Gold low rate card. There is also a transit accident insurance which covers against accidental death or injury on public transport and purchase cover insurance and an extended warranty of up to twelve months (although only on goods with a manufacturer’s expressed Australian warranty).
Like other gold cards, the card also offers a higher credit limit that starts at $5,000.
BankSA is a strong regional bank in South Australia which is part of the Westpac group. Like St. George it runs as a separate brand with its own range of products. BankSA runs the BankSA Instant Benefits program. The card allows for other BankSA accounts to be linked to it.
VISA is the largest credit card provider in the world and is welcomed at almost thirty million locations around the world and hundreds of thousands of vendors within Australia. As a credit card it can be used for on line transactions as well as for telephone ordering and mail order. If a purchase is made abroad then VISA will pay for the good in the vendor’s currency and bill for the amount in the card holder’s currency.
