Border Bank Credit Cards

Updated 7 May 2019

As a division of Police Bank, Border Bank offers a full range of financial products and services including home loans and personal loans, savings accounts and term deposits, financial planning and insurance, and of course, credit cards. Serving the wider Department of Home Affairs community, the bank specialises in offering financial products for every stage in life, while supporting the local community through programs and sponsorships.

One of the reasons it can provide this support is that Border Bank is a mutual organisation. Mutual organisations such as this are owned by its members, offering those members a number of benefits. First up, each member is a shareholder with equal voting rights. Secondly, members can benefit from the mutual structure when they take advantage of better rates and lower fees on the bank’s financial products and services.

How does that work exactly? Unlike certain other banks that are owned by external shareholders, mutuals such as Border Bank do not have to think of providing profits to those shareholders. Instead, the bank’s profits can be reinvested back into the organisation. That’s why you will often find mutual banks often provide lower rates and fees on products such as credit cards – and why they work focus on community involvement through sponsorship and support.

However, just because it’s a mutual – and just because it’s smaller than the big banks you see everyday – doesn’t mean it’s any less safe or any less regulated than those big banks. Border Bank is governed by its Board of Directors, helping it to make the right choices for its members, and is also supervised by the Australian Prudential Regulation Authority (APRA) to ensure it abides by all the same rules and regulations as other banks.

Border Bank Visa Credit Card

Border Bank Visa Credit Card

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Border Bank

Border Bank

As a division of Police Bank, Border Bank offers a full range of financial products and services including home loans and personal loans, savings accounts and term deposits, financial planning and insurance, and of course, credit cards. Serving the wider Department of Home Affairs community, the bank specialises in offering financial products for every stage in life, while supporting the local community through programs and sponsorships.

One of the reasons it can provide this support is that Border Bank is a mutual organisation. Mutual organisations such as this are owned by its members, offering those members a number of benefits. First up, each member is a shareholder with equal voting rights. Secondly, members can benefit from the mutual structure when they take advantage of better rates and lower fees on the bank’s financial products and services.

How does that work exactly? Unlike certain other banks that are owned by external shareholders, mutuals such as Border Bank do not have to think of providing profits to those shareholders. Instead, the bank’s profits can be reinvested back into the organisation. That’s why you will often find mutual banks often provide lower rates and fees on products such as credit cards – and why they work focus on community involvement through sponsorship and support.

However, just because it’s a mutual – and just because it’s smaller than the big banks you see everyday – doesn’t mean it’s any less safe or any less regulated than those big banks. Border Bank is governed by its Board of Directors, helping it to make the right choices for its members, and is also supervised by the Australian Prudential Regulation Authority (APRA) to ensure it abides by all the same rules and regulations as other banks.

Choosing Border Bank

After finding out more about Border Bank, you decide you would like to apply for one of its credit cards, you will have to become a member. Don’t worry, membership is free, and it only takes a few minutes to complete an online application for membership. After becoming a member, you are free to apply for a Border Bank credit card – and if you want, to sign up for any of the bank’s other products as well.

What should you expect from a credit card from Border Bank? Like most mutuals, Border Bank keeps things pretty simple with its credit card offering, but that doesn’t mean it hasn’t got plenty to offer. Here are some features you can check out on Border Bank’s credit card, to see who it might work well for, and whether this type of card is right for you.

  • Low Rates: As we mentioned earlier, mutuals are in the perfect position to reward members with better rates on their financial products. The Border Bank credit card is no exception. This card has a lovely low ongoing rate of interest on purchases, making it a great choice for cardholders who tend to carry a balance on their card.
  • Low Fees: Unlike some other cards that can cost hundreds of dollars each year in annual fees, the Border Bank credit card has a low ongoing annual fee. This can work well for cardholders who want access to credit while paying a minimal amount in annual fees. It can also be a good choice for cardholders who don’t use their card that often and don’t want to pay too much to keep it in their wallet.
  • Access: As the Border Bank card is a Visa card, cardholders can enjoy worldwide acceptance through the Visa network, utilising both ATMs and paying for their purchases at merchants around the world. Border Bank also makes it easy to keep track of card spending with access to online banking and the Border Bank app.
  • Tech Compatibility: While it may be a smaller organisation, Border Bank still offers the latest tech on its cards, providing compatibility with Apple Pay, Samsung Pay and Google Pay.
  • Introductory Offers: Keep your eye out for great intro offers from Border Bank, as these may change over time. You could benefit from an annual fee offer that waives the card’s annual fee for the first year, or you could save heaps by transferring your balance onto the card to take advantage of a balance transfer offer.

 

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