- Cashback on your spend - for every $250 spent you get $1 back
- 6.99% p.a. on purchases and balance transfers for the first six months
- Low $50 annual fee
- International travel insurance for you, your spouse and dependent children
- Up to 55 days interest free on purchases
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BankVic Credit Cards
Discontinued: BankVic Visa Gold Credit Card
Updated 10 November 2023
This card is no longer available for application. This information has been left for those who still have the card or were previously interested
Enjoy low interest rate of 6.99% p.a. on balance transfers and purchases for the first 6 months. Earn credit card cashback rewards on your everyday spending plus, complimentary international travel insurance for you and your family. T&Cs apply.
Purchase Rate (p.a)
6.99% p.a.
for 6 months. Reverts to 16.95% p.a.
Balance Transfer (p.a)
6.99% for 6 months
No balance transfer fee.
Reverts to 16.95% p.a.
Annual Fee (p.a)
$50
Pros and cons
- Interest rate is mid-range
Creditcard.com.au review
Editor Review
Discontinued: BankVic Visa Gold Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The BankVic Visa Gold Credit Card
Earning cashback rewards on everyday spending, the BankVic Visa Gold Credit Card offers an easy way to get something back while keeping costs down with a low annual fee. Cardholders can also benefit from an introductory purchase rate of 6.99% p.a. for six months, plus complimentary overseas travel insurance, with cover extended to family members as well.
What we love...
One of the great things about the BankVic Visa Gold Credit Card is the simplicity of its rewards program. There is no joining fee to worry about, and no membership fees ongoing. You don’t have to think about tiered earn rates, or how to make the most of your points when you redeem them. This is a cashback rewards program, so quite simply, you earn cashback on your spending.
Every time you use your card to make a purchase or pay your bills – including BPAY – you will earn cashback on that payment. So, for every $250 you spend using your card, you will automatically receive $1 back. Your cashback accumulates over the year and is credited to your account on December 1. You can then spend that accumulated total as you like.
Anything important you need to know about the rewards program? Rewards are capped to a value of $5,000 spent each statement period, or up to $60,000 per year (you can check your cashback total as it accrues on your monthly card statements). If you spend $60,000 on your card within a year, that equates to $240 cashback. Subtract the annual fee, and you still get $190 to play with.
Yep, even though this is a rewards card offering some very nice extras, it still has a low annual fee. This makes it a great choice for cardholders who want to enjoy more value from the rewards they earn by keeping their outgoing costs as low as possible.
With that in mind, it’s worth noting that the card does offer an intro rate of 6.99% p.a. on purchases. While this does offer an opportunity for cardholders to save on interest, it’s still best to clear your balance each month to avoid interest accruing, and really make the most of those cashback rewards.
What’s not so great...
When it comes to rewards cards, you will usually find they either have a high purchase rate or a high annual fee – or both. Happily, the BankVic Visa Gold Credit Card has a lovely low annual fee, so we can really only complain about its rate of interest. It’s fair to say its purchase rate isn’t super high – as is often the case with rewards cards – but it isn’t super low either.
Why should you choose this card?
With its cashback rewards program, the BankVic Visa Gold Credit Card is a great option for cardholders who want to keep it simple while still getting something back on their card spending. With an annual spend of $12,500 on the card, you can cover your annual fee, so any spending over that is cashback in your pocket.
Aside from its rewards program, the card also offers money-savers some nice extras. These focus on international travel insurance. As long as you pay for trip with your card, you, your spouse and dependant children travelling with you can benefit from cover on medical expenses, personal belongings, personal liability, travel delay, hire car excess waiver and more. Read the PDS for full info on the cover offered and its activation requirements before relying on it.
The bank also offers a balance transfer option for new cardholders, allowing for a transfer from up to two credit cards. Cardholders can also benefit from 6.99% p.a. on purchases for six months, and up to 55 days interest free on purchases as long as their balance is cleared by the due date each month.
Overall Rating
The BankVic Visa Gold Credit Card offers an easy-to-understand cashback rewards program, with a low annual fee and extras that include complimentary overseas travel insurance and 6.99% p.a. on purchases for six months.
User reviews
Rates and fees
Interest rates
Purchase rate 16.95% p.a.
Introductory purchase rate 6.99% p.a. for 6 months
Cash advance rate 16.95% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 6.99% p.a. for 6 months
Balance transfer revert rate 16.95% p.a.
Balance transfer from personal loan N/A
Balance transfer fee No fee
Balance transfer limit 95% of approved credit limit
Brands you can't balance transfer from BankVic
Credit limits
Minimum credit limit $5000
Maximum credit limit $30,000
Fees & repayments
Annual fee $50 p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3.65%
Minimum repayment 2.5% or $20, whichever is greater
Cash advance fee Free
Late payment fee $15
Additional features
Complimentary insurance
International Travel Insurance Yes
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
Extras
Cashback rewards card
Overview
Discontinued: BankVic Visa Gold Credit Card
The BankVic Visa Gold Credit Card comes with a low annual fee and complimentary overseas travel insurance.
Key features
- Cashback on your spend - for every $250 spent you get $1 back
- 6.99% p.a. on purchases and balance transfers for the first six months
- Low $50 annual fee
- Up to 55 days interest free on purchases
- International travel insurance for you, your spouse and dependent children
- To be eligible to apply for this card, you also must not have declared bankruptcy or insolvency, or had defaults on any loans, credit cards, interest free finance or store cards in the last five years.
Minimum criteria to apply for this card
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Be over 18 years old
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Good Credit and have not applied for multiple credit cards recently
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Permanent Resident or Australian Citizen
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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