- 6.99% p.a. on purchases for the first six months
- Low 11.95% p.a. ongoing interest rate
- No annual fee
for 6 months. Reverts to 11.95% p.a.
As the bank’s ‘classic’ card option, the BankVic Visa Silver Credit Card is designed to be a money-saver. Cardholders pay no annual fee on this card ever, to enjoy a low ongoing purchase rate and up to 55 days interest free on purchases. As a new cardholder, you could save even more day to day, with an intro rate of 6.99% p.a. on purchases for six months.
As an award-winning 5-star Canstar-rated card, there is definitely a lot to love about the BankVic Visa Silver Credit Card. However, as you will see, most of the features we love on this card are focused on money saving. There are no rewards programs to speak of, no bonus points on offer, and no fancy features to enjoy.
Instead, this is a card that keeps things simple. First up, that annual fee. The BankVic Visa Silver Credit Card has no annual fee ever, meaning you can enjoy real savings now, and later on down the track. You can also choose to add an additional cardholder to the account at no extra cost, which can offer simplified family finances, with just one card payment to cover and one statement to keep track of.
In terms of interest, cardholders can benefit from a super low introductory rate of 6.99% p.a. on purchases for the first six months. After the intro period is over, the purchase rate reverts to a very reasonable variable rate. This low ongoing rate could help cardholders keep costs down, covering more manageable interest payments than they would have on a higher rate card.
On the other hand, if you manage to pay off your balance each month, you can save even more with up to 44 days interest free on purchases. With your annual fee at zero and the opportunity to keep interest at zero too, you can see how this card offers an excellent way to access credit while keeping outgoing costs to a minimum.
With no annual fee and a low rate of interest, we don’t see much to complain about on the BankVic Visa Silver Credit Card. But, liking or disliking a card generally comes down to whether or not it offers what you need. If you need more from your card – such as insurance cover or airport lounge access to make travel more comfortable – then you may be better off seeking an alternative option.
Low cost cards such as the BankVic Visa Silver Credit Card tend to work well for cardholders who want a no frills option that can help them save money month to month. Cardholders who carry a balance can enjoy lower interest costs on a card such as this, providing more value than cards with higher rates that may offer a few more features.
No annual fee cards can also appeal to cardholders who don’t want to pay for features they never use, as well as to those who rarely use their card. After all, there’s not much point paying an annual fee for an all-singing, all-dancing card that will just sit in your wallet and never see the light of day.
A basic card that can offer real savings, the BankVic Visa Silver Credit Card has no annual fee and a low ongoing interest rate. New cardholders can take advantage of 6.99% p.a. on purchases for six months.
Purchase rate 11.95% p.a.
Introductory purchase rate 6.99% p.a. for 6 months
Cash advance rate 11.95% p.a.
Interest free period on purchases up to 44 days
Minimum credit limt $1000
Maximum credit limit $10,000
Annual fee $0 p.a.
Additional card holder fee N/A
Foreign transaction fee 3.65%
Cash advance fee N/A
Late payment fee $15
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
The BankVic Visa Silver Credit Card comes with a low interest rate and no annual fee.
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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