bcu Credit Cards

Updated 10 October 2022

Pauline Hatch     

Founded in the 1970s by a small group of business owners - predominantly banana farmers - on the NSW North Coast, its goal was to be a 'fair go' Aussie bank that operated differently to traditional banks. 40 years on, bcu’s network spans from Port Macquarie to the Sunshine Coast.

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bcu Classic Credit Card

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bcu Rewards Credit Card

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bcu focuses on customer experience

Want a fair go banking alternative? That’s what bcu is all about. Founded more than 40 years ago, bcu was created by a group of small business owners who had simply had enough of the limitations of traditional finance.

Bananacoast Community Credit Union (bcu) Credit Cards

Back then, banana growers had a tough time with traditional banks. So, a group of them formed what is now known as bcu – or to give the organisation its full name, the Bananacoast Community Credit Union Ltd – to work together to create an alternative.

Starting out, they pooled their resources to offer business loans to colleagues. Pretty soon though, the business was expanding rapidly. After only seven years in business, bcu became a million dollar credit union.

These days, bcu is a billion dollar credit union, with a network that reaches from Port Macquarie to the Sunshine Coast. Offering everything from credit cards and home loans, to insurance and savings accounts, bcu still has the same ideal. To provide its customers with 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.

Why? For the most part, the trouble starts with credit cardholders themselves. Perhaps they don’t know how to use credit cards correctly, and end up paying out more than they should. Cardholders can also choose the wrong card for them, paying out more than they get back in return. Who wins? The credit card provider, of course.

So why get a credit card at all?

Credit cards can be totally awesome. They can give users access to credit. They can provide rewards and cashback. They can offer perks and bonuses. But they have to be dealt with and used correctly. Like any veteran player who knows the tricks of winning a hand, credit card users should be similarly savvy.

The first place to start has to be choosing the right card. Then it’s simply a matter knowing how to make that card work for you. Is it possible to beat the house? But of course! Let’s start with a little bit of card counting, taking a 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 that charges a low rate of interest on purchases. A great example of this type of card is the bcu Classic Credit Card. With a great low rate of interest, this card can help cardholders save on the amount of interest they pay.

Big Balances

If you have a large balance on your credit card and you’re not able to pay it off straight away, then a low rate credit card could be the answer. Standard credit cards can have purchase rates that range anywhere between 17% p.a. and 23% p.a. With a large balance on cards like those, interest payments can really start stacking up.

That’s exactly where some cardholders get into trouble. They have a big balance on a card with a high interest rate, and they have trouble paying back more than the interest. The balance stays high, taking years to pay off. During that time, thousands of dollars in interest can be paid to the credit card provider.

Revolving Balances

A credit card with a revolving balance is one that’s never fully paid off. The cardholder may spend a certain amount on the card, and pay off a certain amount, but there is generally always a balance owing on the card.

Again, if a revolving balance is kept on a card with a high interest rate, the cardholder could pay out loads in interest. While it’s always best to pay off the balance in full, we know that’s not always possible. The next best thing is to invest in a low rate card.

Credit Card Newbies

What’s the best way to learn about credit? Some say it’s to experience dealing with it first hand. Good idea? We’d say, first learn the principles of how to deal with credit, and then get a credit card.

Having your first credit card can be somewhat thrilling. With access to that much easy credit, it can be too tempting. Result? A big balance that’s going to take while to pay off. That’s one reason why a low rate credit card can be a good choice for a first credit card. If you happen to mess up and spend more than you meant to, you will pay minimal interest while you pay it back.

No Frills

Okay, so low rate credit cards can be pretty low on features. You won’t see many low rate cards with big fancy features or rewards programs. Yes, there are some low rate credit cards with perks, but the market is certainly not bulging with them.

Why? Introductory offers, features and rewards are incentives offered by credit card providers to entice users to sign up. To make those incentives work, card companies need to know they are getting something back, either in interest or annual fees.

But, for some cardholders, it’s not all about the fancy features. All they want is access to credit, while paying out the minimal amount for the privilege. That’s where low rate credit cards come in. When combined with a low annual fee, these cards can be inexpensive to keep.

They also involve minimal hassle. No worrying about when intro offers end. No worrying about how to get the most out of a rewards program. No worrying about whether you are covered by credit card warranties and insurances. Want simple? You got it (but still, always read the small print!).

The Lowdown

If any of these situations seem familiar, the bcu Classic Credit Card could be for you. Nope, it doesn’t really have any frills or features. But, it does have a very reasonable purchase rate, and a very affordable annual fee. Cardholders can enjoy up to 55 days interest free on purchases – and there are no late payment fees.

Any downsides? Only if you want a card with more features – and you perhaps don’t mind paying for them. One thing to note though, there is a one-off $40 establishment fee that’s paid in addition to the annual fee. Apart from that, it seems like a low rate winner.

Low or No Annual Fee Credit Cards

A no annual fee credit card is a card that doesn’t charge an annual fee, sometimes for an introductory period, sometimes for the life of the card. Similarly, a low annual fee credit card is a card that charges a low annual fee. Funnily enough, bcu has two of these little beauties.

The bcu Classic Credit Card has a low annual fee. As cards that either offer low purchase rates or rewards, it’s great that these two also offer a low annual fee – as this allows their cardholders to save some money.

Similar to low rate credit cards, no and low annual fee credit cards tend to be pretty low on features. As we said, you get what you pay for. However, no and low annual fee cards do work incredibly well for some users.

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 good choice for people who want to get more back from their banking. Big banks can be faceless – and they can often charge more for their products and services than credit unions like bcu.

Credit unions can offer lower interest rates on their loans and credit cards, and charge lower fees to use their products. Credit unions often put themselves out there, saying they give more back to their members. Unlike big banks, who have shareholders to please – and to provide profits for – credit unions are run for the benefit of their members.

As we’ve seen, bcu offers credit cards that offer low interest, low fees, and some great perks and rewards. Is that enough of a fair go for you? Check out bcu today!

Recently Asked Questions

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9 questions (showing the latest 10 Q&As)

Peter Schaller

Peter Schaller

17 August 2021
I'm wonting to buy a motorhome as my lease is up it,s rego,Rd was$26000 but because of the vires. He is asking $16000 .I now pay $410 a fortnight. Pete.
    Roland B Bleyer - CreditCard.com.au Founder


    18 August 2021
    Hi Peter, thanks for your question. Just so we’re all on the same page, are you looking to purchase the motorhome on a credit card? Let us know and we’ll try to help you further.


10 June 2020
Does your organization offer credit cards to those on the DSP. I dont have one and my current personal loan debt is around $2000. I have never been bankrupt. I would only be looking for a low rate card with a low limit to use in emergency situations.
    Roland B Bleyer - CreditCard.com.au Founder


    10 June 2020
    Hi Jarrod, I have found BCU in the past not to be friendly to people on DSP. Times could have changed though approval on all credit has tightened with Covid-19.


10 March 2020
How can I apply for a credit card on line Thanks


17 February 2020
What is interest rate being charged on credit card with a balance of approximately forty thousand
    Roland B Bleyer - CreditCard.com.au Founder


    18 February 2020
    Hi Fred, depends on what card though if its the Classic @ 11.8% p.a. interest. If its the rewards then its 12.8%. The amount owing is irrelevant. The interest rate does not change based on the amount owed.


30 November 2018
do I have to bank with BCU to obtain a credit card
    Roland B Bleyer - CreditCard.com.au Founder


    30 November 2018
    Hi Stephen, you don't need to bank with BCU to apply for one of their credit cards.


2 August 2017
If I spent about 800 per month on fuel and groceries, how much could I get back on the "0.66% cash back on spend"?
    Roland B Bleyer - CreditCard.com.au Founder


    2 August 2017
    Hi TG, at that cash back amount, $5.28 a month


4 May 2016
I have a credit card that I can not seem to get a head with monthly repayments. I have 7000 owing can u help me
    Roland B Bleyer - CreditCard.com.au Founder


    5 May 2016
    Hi Shane, BCU cards do not currently come with a balance transfer deal. If you are looking to transfer your 7k to a 0% interest offer so that you can focus on paying the debt down, check out our 0% balance transfer section. You will need to select a card that is from a different bank to which you currently have.


2 January 2016
Hi Guys, I am a 33 year old guy with Spina-Bifida who has been on the Disability Support Pension for 6 years and will unfortunately be on it for the rest of my life due to kidney failure. I have been trying to obtain finance for a car or a personal loan as I am getting to the stage where I am having severe issues driving my car using my feet to accelerate and break. My current car is a Daewoo Mattiz and is unsuitable for my physical requirements now. I have looked into getting my car modded with a hand control and apart from the price of installing the stick drive I have been told that I can't get Noddy modded because he is WAY to small. When I was 16 I moved out of home due to physical abuse. I never had anyone to teach me the value of saving to get what you need. I have claimed for bankruptcy and have been discharged now for about 3 to 5 years. I assume that this is the reason why I have been rejected for a loan to get what I need. I was wondering how can a pensioner get ahead in the world now? I can afford the repayments required to get a modded car. I have no debts. and to be honest I am losing all hope of maintaining my independence I don't know what to do. Any ideas would be greatly appreciated. Kind Regards, Bradley
    Roland B Bleyer - CreditCard.com.au Founder


    4 January 2016
    Hi Bradley - totally sux. Based on the fact of the bankruptcy alone it would be basically impossible for you to get a credit card. Based on the above, I am not sure of what you could do to obtain this modded car. I would reach out to friends, that may be able to band together to get the money and then pay them back, also family if there are any that are decent that could help. Another way might be through a charity. I would research online to see if there are charities that could help in this situation. Best of luck with sorting the car. Never lose hope. Fight on and focus on making your life the best it can be.


14 October 2015
I was wondering what your term deposits interest was as I would like to invest $40.000 with your bank.
    Roland B Bleyer - CreditCard.com.au Founder


    15 October 2015
    Hi Barbara - Here is the page on the BCU website that provides information on the term deposits - http://www.bcu.com.au/invest-households. From the information I found the rates are 2.60% p.a. but this will depend on the term. Contact BCU directly on 1300 228 228 to discuss.
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