bcu Credit Cards

Back in the day, banana growers struggled with traditional banks. So, a group of them came together to form what is now known as bcu – or, in full, the Bananacoast Community Credit Union Ltd – as an alternative.

They started by pooling resources to provide business loans to fellow growers. Before long, the business began to expand rapidly. After just seven years, bcu had grown into a million-dollar credit union.

Today, bcu is a billion-dollar credit union with a network that stretches from Port Macquarie to the Sunshine Coast. Offering everything from credit cards and home loans to insurance and savings accounts, bcu remains true to its founding ideal: giving its customers a fair go.

Beat the House

Credit cards can be a bit like casinos. Occasionally there are big winners on the blackjack and roulette tables, but in the end, the house always wins. What about credit cards? Yep, credit card providers are most definitely the ‘house’. Any ‘winning’ in the credit card industry is generally felt more by credit card providers than by credit cardholders.

WWhy? For the most part, the trouble begins with cardholders themselves. Some may not understand how to use credit cards wisely and end up paying far more than necessary. Others might choose the wrong card, where costs outweigh the benefits. And who wins in those cases? The credit card provider, of course.

So why get a credit card at all?

Credit cards can be incredibly useful. They provide access to credit, offer rewards and cashback, and come with a range of perks and bonuses. But, just like any veteran player who knows the tricks of winning a hand, credit card users need to be savvy and use them wisely.

The first step is choosing the right card. From there, it’s about knowing how to make that card work for you. Can you beat the house? Absolutely! Let’s start with a little “card counting”—taking a closer look at the types of credit cards on offer, and who they work best for.

Low Rate Credit Cards

A low rate credit card is a card charges a lower rate of interest on purchases. A great example is the bcu Classic Credit Card. With its competitive low rate, this card can help cardholders save significantly on interest charges.

Big Balances

If you have a large balance on your credit card and can’t pay it off straight away, a low rate card could be the solution. Standard credit cards often carry purchase rates ranging anywhere from 17% p.a. to 23% p.a. With a large balance, interest on those rates can quickly pile up.

That’s where many cardholders run into trouble. They carry a large balance on a high-interest card and struggle to pay down more than the interest. As a result, the balance barely shrinks, taking years to repay—while thousands of dollars in interest are handed over to the provider.

Revolving Balances

A revolving balance means the card is never fully paid off. The cardholder spends a certain amount, pays back a portion, but almost always carries an outstanding balance

If that balance sits on a high-interest card, the cardholder ends up paying a fortune in interest. While the best practice is always to pay off the balance in full, we know that’s not always realistic. The next best option is to use a low rate credit card to help minimise the cost of carrying a balance.

Credit Card Newbies

What’s the best way to learn about credit? Some say it’s to experience it firsthand. Good idea? We’d say—learn the principles of managing credit first, then get a credit card.

Getting your first credit card can be exciting. But with easy access to credit, the temptation to overspend is real. The result? A large balance that takes a long time to pay off. That’s one reason why a low rate credit card can be a smart first choice. If you do overspend, the lower interest means you’ll pay less while working the balance down.

No Frills

Of course, low rate credit cards usually don’t come with all the bells and whistles. You won’t often see them paired with fancy perks or big rewards programs. While a few low rate cards do offer extras, they’re not common.

Why? Rewards, introductory offers, and premium features are incentives card providers use to attract new customers. To cover those costs, they rely on higher interest rates or annual fees.

But not every cardholder wants extras. Some just want straightforward access to credit at the lowest possible cost. That’s where low rate credit cards shine. Paired with a low annual fee, they’re inexpensive to maintain.

They’re also low-maintenance—no worrying about when intro offers expire, no stressing about maximising rewards points, and no second-guessing insurance or warranty coverage. Want simple? You got it (but remember—always read the fine print!).

The Lowdown

If this sounds like what you’re after, the bcu Classic Credit Card could be a good fit. It’s not packed with features, but it offers a very reasonable purchase rate and an affordable annual fee. Cardholders also enjoy up to 52 days interest-free on purchases—with no late payment fees.

Any downsides? Only if you’re after a card with more perks and don’t mind paying extra for them. One thing to note: there is a one-off $40 establishment fee on top of the annual fee. Beyond that, this card looks like a low rate winner.

Low or No Annual Fee Credit Cards

A no annual fee credit card is one that doesn’t charge an annual fee—sometimes just for an introductory period, and sometimes for the life of the card. Similarly, a low annual fee credit card charges only a small annual fee. Conveniently, bcu offers two of these options.

The bcu Classic Credit Card comes with a low annual fee. While many cards that focus on low purchase rates or rewards often charge higher ongoing fees, these two bcu cards manage to keep annual fees down—helping cardholders save money.

Like low rate credit cards, low or no annual fee cards tend to be light on extra features. As the saying goes, you get what you pay for. But for the right user, they can work extremely well.

Emergencies Only

Some cardholders choose to keep a no annual fee card for emergencies only. That way, they’re not paying to use the card, but it is there if they need it. Say, if the boiler blows up or you break your leg and have no health insurance, that emergency credit card could provide that much needed cash.

Money Savers

Cards that charge low or no annual fee are also perfect for people who want to save money. Credit cards don’t have to be expensive – if you choose the right one. Yes, you can save money on interest and on annual fees, by choosing a card like the bcu Classic Credit Card. Yes, you can earn rewards while saving money on annual fees, by choosing a card like the bcu Rewarder Credit Card.

bcu for you?

As a credit union, bcu could be a great choice for people who want more value from their banking. Big banks can feel faceless—and they often charge more for products and services than credit unions like bcu.

Credit unions typically offer lower interest rates on loans and credit cards, along with lower fees for using their products. They often emphasise giving more back to their members. Unlike big banks, which must satisfy shareholders and deliver profits, credit unions are run for the benefit of their members.

As we’ve seen, bcu provides credit cards with low interest, low fees, and even some solid perks and rewards. Fair go enough for you? Check out bcu today!