Beyond Bank Low Rate Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt Ask Pauline a Question about this card.

The Beyond Bank Low Rate Credit Card

Currently offering 0% p.a. on balance transfers for 12 months, the Beyond Bank Low Rate Credit Card could provide serious value to cardholders looking to pay off existing credit card debt. As an everyday card, it has a low ongoing purchase rate and a low annual fee, with a super long interest free period offering up to 62 days interest free on purchases.

What we love...

One of the first things you will likely notice about the Beyond Bank Low Rate Credit Card is its balance transfer offer. As a new cardholder, you could benefit from 0% p.a. on balance transfers for 12 months, allowing you to transfer the balance from non-Beyond Bank credit or store cards to pay nothing in interest on that balance for a whole year.

Unlike some other balance transfer cards, the Beyond Bank Low Rate Credit Card gives you some time to get organised after you apply. Instead of providing details of the balance transfer at application, you have up to a month to advise the bank of what you would like to transfer. Another nice feature of this offer regards the revert rate: any balance left unpaid at the end of the intro period reverts to the card’s purchase rate.

However, the Beyond Bank Low Rate Credit Card is much more than just its offer. It also happens to work very well as a low cost card in the long term, allowing cardholders to keep costs down with a low ongoing purchase rate and a low annual fee. How does it do this? First up, the card is pretty basic. With fewer features, it can keep costs low.

In addition to that though, Beyond Bank is a mutual bank. It is owned by its members rather than external shareholders, which means it can pass profits back to customers in the form of better rates and lower fees. As a cardholder, you benefit from being part of a bank that supports community projects, while also enjoying lower rates and lower fees on your card.

Another nice feature on the Beyond Bank Low Rate Credit Card that’s worth pointing out is its interest free period. As long as you pay your balance by the due date, you can benefit from up to 62 days interest free on purchases. This is significantly longer than the standard 44 or 55 day period offered on other cards, and could help you save heaps month to month.

What’s not so great...

As a cardholder, you will not earn rewards on the Beyond Bank Low Rate Credit Card. You will also not benefit from any enticing extras, such as travel credit, complimentary insurance covers or airport lounge access. If features, rewards and extras are important to you – and you think they offer you value – you may want to look elsewhere.

Why should you choose this card?

If you want to take advantage of a cracking 0% p.a. balance transfer offer, the Beyond Bank Low Rate Credit Card could be an awesome option for you. However, even if you don’t have a balance to transfer, the card could be a great choice ongoing, helping you to save with a low annual fee and low purchase rate.

If you carry a balance, that low purchase rate could help you save on interest costs. If you clear your balance each month, the interest free period of up to 62 days could also be a real money-saver. In terms of annual fees, these are kept nice and low, with the option to add up to four additional cardholders to the account at no extra charge.

Other features on offer include Visa payWave for fast, contactless payments at the checkout, Verified by Visa for safer shopping online, and Visa’s Zero Liability Policy to reduce your liability in the event of fraud. The card is also compatible with Apple Pay, Google Pay and Samsung Pay, so you can sync it to your device for even more accessibility.

Overall Rating

A low rate card with a low annual fee, the Beyond Bank Low Rate Credit Card provides the opportunity to save even more with up to 62 days interest free on purchases, and 0% p.a. on balance transfers for 12 months.