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bcu Rewards Credit Card
bcu Rewards Credit Card

bcu Rewards Credit Card

Updated 5 August 2020

Purchase Rate (p.a)

12.80%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$89

$0

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Pros and cons

  • 12.80% p.a. for purchases and 14.80% p.a. for cash advances
  • Receive 0.66% cash back for every eligible dollar back into your bcu transaction or savings account
  • Up to 55 days interest free on purchases

  • No balance transfer offer

Creditcard.com.au review

Editor Review

bcu Rewards Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The bcu Rewards Credit Card

Making it super easy to earn cashback on everyday card spending, the bcu Rewards Credit Card is a great alternative to standard rewards cards. With a low purchase rate and a reasonable annual fee, the card keeps its features fairly simple, concentrating on those cashback rewards, while providing access to credit.

What we love...

There’s no denying earning rewards can be pretty exciting. It feels like you are getting something for nothing, like you are getting a little treat simply for spending on your credit card. But, rewards programs can be complicated. Sometimes it can be hard to work out whether you are actually getting value for money.

Which is where the bcu Rewards Credit Card comes in. Unlike standard rewards cards that earn points that are then redeemed for rewards, this card earns cashback, which can be spent in any way the cardholder pleases. There are no tiered earning structures to remember, and cardholders don’t have to pour over rewards options, trying to figure out how to redeem their points to get the best value from them.

Instead, cardholders simply earn 0.66% back on every dollar they spend on eligible purchases. So, for every $1,000 you spend on the card, you will get $6.60 back. In case you were wondering, eligible purchases are most purchases made on the card, apart from cash advances, BPay, fees, charges and enforcement expenses, interest, balance transfers or transactions for business purposes.

When you apply for this card, bcu will automatically open a Rewards Savings Account in your name. Each month, the cashback you have earned will be automatically credited to this account. You can then spend it as you like. How much value does this offer? You would need to spend $13,500 on your card each year to cover the annual fee, but from there, all points are yours. Take note, the maximum cash back you can earn annually is $500.

In terms of costs, the card has a low rate for a rewards card. But, carrying a balance and paying any interest on it – even if it is on a low rate – will make it very hard to enjoy real value on the cashback rewards you receive. Instead, it’s better to clear your balance by the due date, and then you can enjoy the card’s interest free feature, with up to 55 days interest free on purchases.

What’s not so great...

The main sticking point on this card is its application process. While most providers now offer online or over-the-phone credit card applications, bcu requires new cardholders to visit a branch to apply. As long as you live near a branch, this could be easy enough, but with branches focussed along the Queensland and NSW coast, it’s not going to be possible for all applicants.

Why should you choose this card?

If you clear your balance each month and want to earn something back on your credit card spending, the bcu Rewards Credit Card could offer real value. Cardholders who don’t have time for complex rewards programs, or who simply want to earn cashback to spend as they like can enjoy an easy way to get something back on their spending day-to-day.

Unlike some rewards cards, this one offers a low minimum credit limit of $500, making it a good choice for cardholders who want to reduce their temptation to overspend. And of course, as a credit card, it provides all the access and security features you would expect, including worldwide acceptance, contactless payments via Visa payWave, and security via Verified by Visa.

Overall Rating

An everyday rewards card that offers cashback on card spending, the bcu Rewards Credit Card is a basic offering with a low purchase rate and reasonable annual fee.

User reviews

bcu Rewards Credit Card ( based on 3 Creditcard.com.au user reviews )

79% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value
64%

Arthur

17 April 2020

Great card

Recommends this card

Rates and fees

Interest rates



Purchase rate 12.80% p.a.

Cash advance rate 14.80% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limt $500

Maximum credit limit $20,000

Fees & repayments

Annual fee $89 p.a.

Additional card holder fee N/A

Foreign transaction fee 3.65%

Minimum repayment 3%

Cash advance fee 0%

Late payment fee $0

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

Extras

0.66% cash back for every $1. Capped at $500 p.a.

Overview

bcu Rewards Credit Card

The BCU Rewards credit card has a great low interest rate of 12.80% p.a. on purchases and comes with the added bonus of cash back rewards. Receive 0.66% cash back for every eligible dollar spent. Up to 55 days interest free on purchases and an annual fee of $89.

Key features

  • 12.80% for purchases and 14.80% for cash advances
  • Receive 0.66% cash back for every eligible dollar. You can use it towards your next credit card or home loan repayment or transfer the cash back into your bcu transaction or savings account.
  • Up to 55 days interest free
  • $89 annual fee
  • To apply for a bcu credit card you must be:
    18 years of age or older; A permanent Australian resident or citizen; and not have any outstanding defaults, judgements or am an un-discharged bankrupt or have only been un-discharged from bankruptcy for less than 2 years.

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia

  • You have your personal details ready to complete the online application

Roland B Bleyer

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.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

8 questions (showing the latest 10 Q&As)

Sanjeev

Sanjeev

30 June 2020
Hi will I receive cashback for online purchases and what's limit on card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 July 2020
    Hi Sanjeev, yes, online purchases are just like regular in store purchases. Take note, the maximum cash back you can earn annually is $500.
Karon

Karon

4 June 2020
How do i apply for a bcu credit card
Rachel duquemin

Rachel duquemin

18 March 2020
Can you check my application please thanks
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    19 March 2020
    Hi Rachel, you need to call BCU credit card customer service on 1300 228 228. Or you can go into a branch and check.
Rachel duquemin

Rachel duquemin

16 March 2020
Can U check to see if my application is approved
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 March 2020
    Hi Rachel, you can give BCU credit card customer service a call on 1300 228 228. You will need to reach out to BCU directly to check. Best of luck with your application.
Casey

Casey

24 January 2020
Can I get a credit card if I have bad credit
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 January 2020
    Hi Casey, no you cannot. There are no bad credit, credit cards in Australia. You will need good credit for approval on all cards.
John Talbot

John Talbot

7 November 2019
How do I apply for this credit card
Guy Plateau

Guy Plateau

12 August 2017
Be a pensioner my wife and Myself want to travel so we looking a credit card with frequent flyer point and travel Insurance. Any subjection ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    14 August 2017
    Hi Guy, you will need to meet the minimum income requirements to be approved for a card. Overseas travel insurance typically comes with more premium cards. Have a look at the ANZ Frequent Flyer Platinum with 50k in bonus points and a minimum income required of 35k. I am not sure that any card under this type of income would have overseas travel insurance. Income could come from super payments as well as pension.
Clare

Clare

11 June 2017
Hey Roland, What qualifies as an 'eligible purchase spend' exactly? Thank you!
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 June 2017
    Hi Clare, eligible spends are most things expect cash advances and balance transfers. e.g. petrol, supermarket, school fees, holiday etc.

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