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Auswide Bank Low Rate Visa Credit Card

1 review

Purchase rate

9.45% p.a.

Balance transfer

N/A

Annual fee

$50 p.a.
50% Complete (success)

Pros

Low 9.45% p.a. on purchases and cash advances

$50 annual fee (waived if you're under 25)

Up to 55 days interest free on purchases

Credit limits starting from only $500

Cons

Nothing extra

Auswide Bank Low Rate Visa Credit Card

The Auswide Bank Low Rate Visa Credit Card comes with a low $50 p.a. annual fee, which is waived if you are under 25 years old. The interest rate is 9.45% p.a. on purchases and cash advances.

Key features

  • Low 9.45% p.a. on purchases and cash advances
  • $50 annual fee (waived if you're under 25)
  • Up to 55 days interest free on purchases
  • Credit limits starting from only $500
100% of customers who have rated this card would recommend it
  • Rates
    90%
  • Fees
    62%
  • Rewards
    N/A
  • Customer Service
    65%
  • Value
    73%
Overall user rating 58%
1 reviews
Interest Rates
Purchase rate 9.45% p.a.
Cash advance rate 9.45% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Credit limits
Minimum credit limit $500
Maximum credit limit N/A
Fees & repayments
Annual fee $50 p.a.
Additional cardholder fee $0
Cash advance fee $3.50
Foreign transaction fee 3%
Late payment fee $20
Credit card type Visa
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No

Auswide Bank Low Rate Visa Credit Card

As a low rate card, the Auswide Bank Low Rate Visa Credit Card offers a unique ‘rate tracker’ feature, which means the interest rate on the card only ever goes up or down with the RBA cash rate. Helping cardholders save even more money, it has a low annual fee – which is waived for those under 25 – and up to 55 days interest free on purchases.

What we love…

As a smaller bank, Auswide Bank focuses on providing seriously low rates on the Auswide Bank Low Rate Visa Credit Card to allow cardholders to save on interest month to month. So, for cardholders who tend to carry a balance on their card, or who are working on paying down their balance, they can rely on this card’s low rate to keep interest costs low.

How does it do this? The card utilises a ‘rate tracker’ feature, which means its rates only move with the RBA cash rate. As the card’s annual percentage rates consist of the RBA cash rate and a fixed margin applied by the bank, the rate follows that of the cash rate as determined by the Reserve Bank of Australia. Unless the RBA decides to raise or lower the cash rate, the card’s rate will remain the same.

Offering further savings on interest is the card’s interest free period, which provides up to 55 days interest free on purchases. To be eligible for this feature, you must pay your balance in full by the statement due date for two consecutive months. Bear in mind, there is no interest free period on cash advances. These start to accrue interest from the date of withdrawal.

But, that’s not the only way you can save money with this card. It also has a low annual fee, which is waived for cardholders under 25. You can add additional cardholders to the account at no extra cost, which can help to simplify your finances while also providing a card to family members who need access to credit on your account.

What’s not so great…

When it comes to low rate, low fee cards such as the Auswide Bank Low Rate Visa Credit Card, we generally don’t have much to complain about. This is a low cost card that is designed to allow cardholders to save on annual fees and interest. What it’s not designed to do is provide fancy features and rewards, so as long as you’re not looking for those, this card has plenty to offer.

Why should you choose this card?

As a money-saver, the Auswide Bank Low Rate Visa Credit Card obviously suits cardholders who are looking to save money, either on the annual fees they pay or on the interest applied to their balance. With its super low rate, it can work well for cardholders who tend to carry a balance, or anyone who wants to keep it simple while paying out the minimum.

With credit limits starting from only $500, the card may also work well as a starter card – or for cardholders who don’t want the temptation to overspend. It is worth pointing out that the card’s eligibility requirements ask cardholders to meet minimum income requirements of $30,000 per year – and the credit limit you receive will be based on your credit worthiness.

One of the attractions of choosing a card from a bank such as Auswide Bank can be its size. This is a bank that prides itself on its service and its support of local communities. Instead of getting lost in a big bank, cardholders may enjoy more personalised service with a smaller organisation such as Auswide Bank.

But, while it may be issued by a small bank, this is a card that is powered by Visa, which means it has all the security and features Visa always offers. As a cardholder, you can enjoy worldwide acceptance, security features such as Verified by Visa and Visa Zero Liability, functionality from features such as Visa Checkout and Visa payWave, and extras from Visa Entertainment.

Overall Rating

The Auswide Bank Low Rate Visa Credit Card is a real money-saver, offering a fantastic low rate that follows the RBA cash rate, and a low annual fee.

(showing the latest 10 Q&As)

  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Permanent Resident or Australian Citizen
  • You have your personal details ready to complete the online application
Auswide Bank Low Rate Visa Credit Card
Auswide Bank Low Rate Visa Credit Card

Auswide Bank Low Rate Visa Credit Card

Updated 18 June 2019

Purchase Rate (p.a)

9.45%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$50

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Low 9.45% p.a. on purchases and cash advances
  • $50 annual fee (waived if you're under 25)
  • Up to 55 days interest free on purchases
  • Credit limits starting from only $500

  • Nothing extra

Creditcard.com.au review

Editor Review

Auswide Bank Low Rate Visa Credit Card

As a low rate card, the Auswide Bank Low Rate Visa Credit Card offers a unique ‘rate tracker’ feature, which means the interest rate on the card only ever goes up or down with the RBA cash rate. Helping cardholders save even more money, it has a low annual fee – which is waived for those under 25 – and up to 55 days interest free on purchases.

What we love…

As a smaller bank, Auswide Bank focuses on providing seriously low rates on the Auswide Bank Low Rate Visa Credit Card to allow cardholders to save on interest month to month. So, for cardholders who tend to carry a balance on their card, or who are working on paying down their balance, they can rely on this card’s low rate to keep interest costs low.

How does it do this? The card utilises a ‘rate tracker’ feature, which means its rates only move with the RBA cash rate. As the card’s annual percentage rates consist of the RBA cash rate and a fixed margin applied by the bank, the rate follows that of the cash rate as determined by the Reserve Bank of Australia. Unless the RBA decides to raise or lower the cash rate, the card’s rate will remain the same.

Offering further savings on interest is the card’s interest free period, which provides up to 55 days interest free on purchases. To be eligible for this feature, you must pay your balance in full by the statement due date for two consecutive months. Bear in mind, there is no interest free period on cash advances. These start to accrue interest from the date of withdrawal.

But, that’s not the only way you can save money with this card. It also has a low annual fee, which is waived for cardholders under 25. You can add additional cardholders to the account at no extra cost, which can help to simplify your finances while also providing a card to family members who need access to credit on your account.

What’s not so great…

When it comes to low rate, low fee cards such as the Auswide Bank Low Rate Visa Credit Card, we generally don’t have much to complain about. This is a low cost card that is designed to allow cardholders to save on annual fees and interest. What it’s not designed to do is provide fancy features and rewards, so as long as you’re not looking for those, this card has plenty to offer.

Why should you choose this card?

As a money-saver, the Auswide Bank Low Rate Visa Credit Card obviously suits cardholders who are looking to save money, either on the annual fees they pay or on the interest applied to their balance. With its super low rate, it can work well for cardholders who tend to carry a balance, or anyone who wants to keep it simple while paying out the minimum.

With credit limits starting from only $500, the card may also work well as a starter card – or for cardholders who don’t want the temptation to overspend. It is worth pointing out that the card’s eligibility requirements ask cardholders to meet minimum income requirements of $30,000 per year – and the credit limit you receive will be based on your credit worthiness.

One of the attractions of choosing a card from a bank such as Auswide Bank can be its size. This is a bank that prides itself on its service and its support of local communities. Instead of getting lost in a big bank, cardholders may enjoy more personalised service with a smaller organisation such as Auswide Bank.

But, while it may be issued by a small bank, this is a card that is powered by Visa, which means it has all the security and features Visa always offers. As a cardholder, you can enjoy worldwide acceptance, security features such as Verified by Visa and Visa Zero Liability, functionality from features such as Visa Checkout and Visa payWave, and extras from Visa Entertainment.

Overall Rating

The Auswide Bank Low Rate Visa Credit Card is a real money-saver, offering a fantastic low rate that follows the RBA cash rate, and a low annual fee.

User reviews

Auswide Bank Low Rate Visa Credit Card ( based on 1 Creditcard.com.au user review )

58% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 9.45% p.a.

Cash advance rate 9.45% p.a.

Interest free on purchases up to 55 days

Credit limits

Minimum credit limt $500

Maximum credit limit N/A

Fees & repayments

Annual fee $50 p.a.

Additional card holder fee $0

Foreign transaction fee 3%

Minimum repayment

Cash advance fee $3.50

Late payment fee $20

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Overview

Auswide Bank Low Rate Visa Credit Card

The Auswide Bank Low Rate Visa Credit Card comes with a low $50 p.a. annual fee, which is waived if you are under 25 years old. The interest rate is 9.45% p.a. on purchases and cash advances.

Key features

  • Low 9.45% p.a. on purchases and cash advances
  • $50 annual fee (waived if you're under 25)
  • Up to 55 days interest free on purchases
  • Credit limits starting from only $500

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Permanent Resident or Australian Citizen

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

(showing the latest 10 Q&As)

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