- 11.99% p.a. on purchases
- 13.99% p.a. on cash advances
- $29 annual fee
- 0% p.a. balance transfer for 6 months. Purchase interest rate applies thereafter.
- Interest is calculated from the statement date, not from when you made the purchase
- Up to 55 days interest free on purchases
- Eligible with Google Pay, Apple Pay, Samsung Pay, Fitbit Pay™ and Garmin Pay™
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Bendigo Bank Credit Cards
Bendigo Bank Low Rate First Credit Card
Updated 1 October 2020
With a low annual fee of $29 the Bendigo Bank Low Rate First Credit Card is what the name entails and is exclusive to customers aged 18 - 25 years. Comes with a low 11.99% p.a. rate on purchases.
Purchase Rate (p.a)
11.99%
Balance Transfer (p.a)
0% for 6 months
No balance transfer fee.
Reverts to 11.99% p.a.
Annual Fee (p.a)
$29
Pros and cons
- No extra features
Creditcard.com.au review
Editor Review
Bendigo Bank Low Rate First Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The Bendigo Bank Low Rate First Credit Card
There’s nothing like a little exclusivity. When it comes to credit cards, experiencing exclusivity usually means paying big bucks for platinum perks or black card benefits. But, there are other ways in which a credit card can be exclusive.
While it may not offer an abundance of exclusive – and expensive – extras, the Bendigo Bank Low Rate First Credit Card happens to offer exclusivity to customers aged 18 to 25. That means, if you’re under 18 or over 25, you’re out of the club and you cannot join.
With a low annual fee and low rate of interest, the Bendigo Bank Low Rate First Credit Card is the perfect first credit card, letting you find your way in the world of credit, before you apply for a card with a little more zing later on down the line.
What we love...
Oddly enough, low rate and low annual fee don’t always go hand in hand – especially with credit cards marketed to first time cardholders. So, to find a card that offers both of these moneysaving features, while also making it easier for younger cardholders to apply, is pretty neat indeed.
In terms of annual fees, you will pay $29 each year, which is teeny tiny compared to some of the big boys, which run to $400 or $500 per year. As for interest, this is also super low, both on purchases and cash advances. It’s also nice to know that even if you carry a balance, you can still benefit from up to 55 days interest free on purchases.
What’s not so great...
If you’ve been longing for your first credit card, thinking about all the amazing extras it could offer you, you may be somewhat disappointed with the Bendigo Bank Low Rate First Credit Card. This is a card that focuses on money-saving, not perks.
This card doesn’t have a rewards program or any wow-making extras. But it does offer you the ability to save money, while you get to grips with having a credit card. Later on, if you decide you want a fancier card, you can use this experience – and hopefully, your built-up credit rating – to apply for one.
To make this happen, be sure to clear your balance month-to-month, avoid cash advances and any unnecessary fees, and don’t spend more than you can afford to pay back.
Why should you choose this card?
If you’re looking for your first credit card, one that provides you access to credit while keeping costs low, the Bendigo Bank Low Rate First Credit Card could be the card for you. Here are some of the handy extras you could enjoy as a cardholder.
- Peace of mind: 24/7 fraud monitoring and no liability for unauthorised transactions.
- More money-saving: No fees for additional cardholders.
- A little sparkle: Access to Mastercard® Priceless® Cities exclusive experiences and special offers.
- Convenience: Tap & go™ for purchases under $100.
- Access: Use instore, online and withdraw local currency at millions of locations, everywhere Mastercard is accepted.
- Greater control: Bendigo Bank’s Protect+Pay app provides additional security for your cards, allowing you to apply controls such as temporarily blocking your card, or choosing when to allow certain transactions.
- Personalisation: You can change the image on your card by uploading your favourite photo or design, for only $10.
Overall Rating
The ideal first credit card for customers aged 18-25, offering a low annual fee and low interest rate, alongside a number of useful extras.
User reviews
Rates and fees
Interest rates
Purchase rate 11.99% p.a.
Cash advance rate 13.99% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 6 months
Balance transfer revert rate 11.99% p.a.
Balance transfer from personal loan N/A
Balance transfer fee No fee
Balance transfer limit 80% of approved credit limit
Banks you can't balance transfer from Bendigo Bank
Credit limits
Minimum credit limt $500
Maximum credit limit N/A
Fees & repayments
Annual fee $29 p.a.
Additional card holder fee $0 p.a.
Foreign transaction fee 3%
Minimum repayment $10 or 3%, whichever is greater
Cash advance fee $3.25 or 0.5% of the transaction amount, whichever is greater
Late payment fee $15
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
Eligible with Google Pay, Apple Pay, Samsung Pay, Fitbit Pay™ and Garmin Pay™
Overview
Bendigo Bank Low Rate First Credit Card
Key features
- 11.99% p.a. on purchases
- 13.99% p.a. on cash advances
- $29 annual fee
- 0% p.a. balance transfer for 6 months. Purchase interest rate applies thereafter.
- Interest is calculated from the statement date, not from when you made the purchase
- Up to 55 days interest free on purchases
- Eligible with Google Pay, Apple Pay, Samsung Pay, Fitbit Pay™ and Garmin Pay™
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 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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