Australian Unity Credit Cards
Big Sky Building Society became Australian Unity in October 2018. With a focus on providing customers with solutions to all their financial needs, Australian Unity is a trusted financial services provider with a history that spans five decades.
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Australian Unity
While it may not have the name recognition of a major bank, Australian Unity still has plenty to offer. Like many customer-owned financial institutions, Australian Unity is the result of an amalgamation of several credit unions and building societies, brought together over the years to provide great-value products to customers today.
Who is Australian Unity
Starting out as the BHP Employee Co-operative in 1971, Big Sky later merged with several credit unions—mostly within the resources industry—including Lysaght, BP, GMH, and RACV, before opening its doors to the general public. From there, it diversified its offerings to include everything from everyday bank accounts and savings products to financial planning and credit cards.
As of October 2018, Big Sky officially united under Australian Unity, a customer-owned financial provider that returns profits to customers through competitive interest rates and great service. It positions itself as a genuine alternative to the big banks. Like those banks, Australian Unity operates under the same regulations and offers the same government guarantees on savings products.
However, unlike the big banks that must answer to external shareholders, Australian Unity can focus solely on its customers—delivering products and services that support everyday life while also helping them save money.
Australian Unity Credit Cards
When comparing credit cards, you’ve probably noticed that major banks—such as the Big Four—tend to offer a wide selection, ranging from simple low-rate cards to feature-packed rewards cards. In contrast, smaller financial providers, such as customer-owned banks, building societies, and credit unions, typically offer far fewer credit card options.
Why is that? Big banks make big money, so they can afford to provide a broad variety of credit cards. With large customer bases, significant advertising budgets, and a widespread presence across Australia, they have the reach needed to make offering a diverse range of cards worthwhile.
That’s not the case for smaller financial providers like Australian Unity. With a smaller footprint and a more focused customer base, these providers tend to prioritise the essentials—offering credit cards they know will deliver real value to their members.
So why choose Australian Unity over the big banks? Simple. If you're looking for an uncomplicated credit card that can help you save money, Australian Unity may have just the option for you.
Fees
While it may be more enjoyable to focus on features when comparing credit cards, it’s often wiser to look at how much each card will actually cost to keep in your wallet. It might not be quite as glamorous, but it can help you weed out cards you can’t afford before you get drawn into applying for them.
With the Australian Unity Low Rate Visa Card, you can save on both interest and annual fees.
Interest
How much a card’s interest rate matters really depends on how you use your card. If you always pay off your balance in full at the end of each statement period, then the interest rate attached to your card is of little consequence. This allows you to choose platinum or rewards cards with higher interest rates, as your cleared balance will not accrue interest.
However, if you carry a balance month to month, you should pay close attention to the interest rate on your card, as it will affect how much you pay in interest and, consequently, how long it takes to pay off your balance. A low-rate card, such as the Australian Unity Low Rate Visa Card, could be a great option for cardholders who carry a balance and want to save on interest.
The Australian Unity Visa Credit Card provides up to 45 days interest-free on purchases—so long as you clear your balance at the end of each statement cycle. If you understand how this feature works, you can use it to make purchases on your card and enjoy an extended interest-free period before paying it off.
Features
It’s worth noting that low-cost cards, such as those offered by Australian Unity, tend not to be packed with features. However, that doesn’t mean they don’t offer any extras. One example is Visa payWave—designed to speed up in-store purchases, this contactless payment system allows Australian Unity cardholders to ‘tap and go’ on purchases under $100.
In terms of risk protection, Australian Unity credit cards offer two key security features. The first is Verified by Visa, which allows cardholders to set up a password that must be entered when making purchases online at participating retailers—helping to ensure their card is not used without permission.
The second feature is Vigil, a monitoring service that tracks card payments for suspicious activity. If Vigil detects anything unusual, it will lock the card and contact the cardholder to confirm whether the transaction was authorised.
Australian Unity credit cards also allow up to four additional cardholders to be added to the account at no extra cost. This can be ideal for families who want to share household spending, making it easier to track payments and stick to a budget.
Essentials
Before applying for any credit card, it’s important to check whether you’re eligible. This includes finding out if there is a minimum income requirement and whether the application requires Australian citizenship or permanent residency. Australian Unity credit cards have a minimum age requirement of 18 for applicants.
It’s also worth noting any minimum or maximum credit limits that may apply. The Australian Unity credit card has a relatively low minimum credit limit, but platinum cards may have a higher minimum credit limit and may also require a higher minimum income.
Benefits of Customer Owned Banking
There are many reasons why you might prefer banking with a big bank over a smaller provider such as Australian Unity. You may feel more secure with a familiar name you see every day, you might prefer the broader range of products big banks offer, or you may simply want to stay with the bank you’ve been with all your life.
However, that’s not to say there aren’t plenty of reasons to consider switching to a smaller, less well-known bank, credit union, or building society. You may find that these providers offer better service, better value, and a stronger focus on giving back to the community. And while their product range may be smaller, you might still find something that suits your needs.
When choosing a customer-owned financial institution such as Australian Unity, you can take comfort in knowing that your provider is backed by the Customer Owned Banking Association (COBA), the industry advocate for Australia’s customer-owned banking sector.
You can also rest assured that this is not an insignificant part of the financial services industry. In fact, the customer-owned banking sector holds combined assets of more than $83.9 billion—providing Australians with a competitive alternative to the big banks, and access to a full range of savings, investment, loan, and insurance products.
Finding the Best Credit Card
Finding the right credit card among the multitude of options on offer isn’t easy—and that’s where we come in. At CreditCard.com.au, we feature a wide range of credit cards so you can compare them side by side. While there may not be a single credit card that is ‘best’ for everyone, there’s sure to be one that’s best for you.
Could the best credit card for you be an Australian Unity credit card? Explore the options from Australian Unity today to find out.
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