The Bank SA No Annual Fee Credit Card is a card that is offered by BankSA together with the card provider MasterCard. It is a good credit card for the type of card user who only wants to have a credit card for emergencies and is not going to use the card every month.
The main feature of this credit card is that no annual fee is charged. Most other credit cards do charge an annual fee. This fee is usually between $40 per year to $150 per year regardless of whether the card is used in that year, and if it is used by how much the card is used. This annual fee is not reflected in the interest rate.
The no annual fee card charges a reasonably high interest rate, particularly in comparison to other Bank SA cards. There are cards with annual fees that charge a higher interest rate. Up to three additional cards can be used with the account.
The other feature about the no annual fee card is that it has no interest free grace period. Having no annual fee means that every purchase that is charged on the card is liable for interest straight away. In comparison other cards tend to have an interest free grace period of between 35 and 60 days which covers the period from spending, to sending the statement out and a period of time before sending the statement out.
There is a cash advance facility. While the interest rate is often higher than other credit card transactions, and it tends to be paid off last so making the effective interest rate higher, its main drawback – that it is charged immediately with no interest free grace period – is not an issue with this credit card.
Like most of the Bank SA cards there is no rewards program. There is access to a number of discount programs with Bank SA is a very strong regional bank in South Australia. It is part of the Westpac group, together with St George. Westpac is one of the strongest banks in Australia and is one of the big four largest Australian banks.
The card is part of the MasterCard network, which means that it is accepted at 29 million different places in Australia. MasterCard also operates a no liability guarantee for all unauthorised transactions that are made on the card.
