- Pay no annual fee the first year
- Low $30 ongoing annual fee
- 10.76% p.a. on purchases
- 0% for 12 months on balance transfers
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Pros and cons
- Nothing really
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Editor Review
Bank of Heritage Isle Visa Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The Bank of Heritage Isle Visa Credit Card
As an award-winning balance transfer card, the Bank of Heritage Isle Visa Credit Card offers a very enticing deal to cardholders looking to pay down existing credit card debt. Currently offering 0% p.a. on balance transfers for 12 months, the card also has a seriously low ongoing interest rate, a low annual fee – that is waived the first year – and compatibility with Apple Pay, Samsung Pay and Google Pay.
What we love...
When checking out credit card deals, it’s always nice to find cards that have gained industry recognition for their offers. If you’re looking for a balance transfer offer, you might be interested to know the Bank of Heritage Isle Visa Credit Card took home Money magazine’s 2018 award for Cheapest Balance Transfer Credit Card, and Mozo’s Experts Choice 2017 for Balance Transfer Credit Card and Low Rate Credit Card.
With no end date on the offer, the bank provides new cardholders with 0% p.a. on balance transfers for 12 months. If you want to pay down debt on existing credit cards, this could offer you a full year with no interest accumulating on your transferred balance. As long as you are dedicated to paying it off, you could save big on interest, to pay off your debt faster.
Helping you on your way, the card waives its annual fee for the first year. This works towards making it a pretty enticing deal for anyone looking for a balance transfer offer. Why? When you have a balance transfer, it’s a good idea to focus on paying down that balance, and any money you save can help you on your way. You could choose simply to use this card to clear your balance within the first year, and you will pay nothing in annual fees for your effort.
However, the Bank of Heritage Isle Visa Credit Card also happens to be a great card ongoing as well. It has one low interest rate on purchases and cash advances, and after the first year, it has a low ongoing annual fee. If you want to add an additional cardholder to the account to simplify your family’s finances, you can do so at no extra cost.
Aside from its offer and its low cost status, this card keeps things nice and simple. Cardholders can enjoy access to Visa’s vast network – and its functional features – while also benefitting from Apple Pay, Samsung Pay and Google Pay compatibility. This can make it quicker and easier to pay with your synced device while you’re out and about.
What’s not so great...
There’s really not much to dislike about the Bank of Heritage Isle Visa Credit Card. Its balance transfer offer has no balance transfer fee, and any unpaid balance reverts to the card’s low purchase rate at the end of the intro period. It’s a simple, basic card with few features. If you want more – and you don’t mind paying more – you may want to look at other options.
Why should you choose this card?
With its great balance transfer offer, one of the main reasons to choose the Bank of Heritage Isle Visa Credit Card is to pay down credit card debt. However, as a low rate card, it could also work well for cardholders who carry a balance. Meanwhile, its low annual fee would also appeal to those who want to pay only the minimum to keep a card in their wallet, while its basic features are likely to attract cardholders who aren’t interested in extravagant extras (and paying for them).
Overall Rating
A low rate, low fee card with 0% p.a. on balance transfers for 12 months, the Bank of Heritage Isle Visa Credit Card could be a real money-saver.
User reviews
Rates and fees
Interest rates
Purchase rate 10.76% p.a.
Cash advance rate 10.76% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 12 months
Balance transfer revert rate 10.76% p.a.
Balance transfer from personal loan N/A
Balance transfer fee No fee
Balance transfer limit N/A
Banks you can't balance transfer from Bank of Heritage Isle
Credit limits
Minimum credit limt $1,000
Maximum credit limit N/A
Fees & repayments
Annual fee $30 p.a.
Additional card holder fee N/A
Foreign transaction fee 3%
Minimum repayment
Annual fee the first year $0
Cash advance fee N/A
Late payment fee $30
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Overview
Bank of Heritage Isle Visa Credit Card
Key features
- 10.76% p.a. on purchases
- Up to 55 days interest free period on purchases
- 0% p.a. on balance transfers for the first 12 months
- Pay no annual fee the first year
- Low $30 ongoing annual fee
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 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.
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