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While it may be small, Coastline Credit Union still has plenty to offer. From bank accounts and savings products, to financial planning and insurance, Coastline can offer you what you need, while providing only the best in customer service. In fact, that may be where Coastline shines.
Unlike big banks, who may not have time for customers on a personal level, smaller institutions such as Coastline can make that connection, to make each and every customer feel heard. Something Coastline has always stood for is its dedication to providing the highest level of financial services and banking products - at the lowest possible cost.
If you’re looking to save money, Coastline may have just the thing for you. Many of Coastline’s products and services carry no fees or charges, with their credit card being a great example of this. With the Coastline Visa Credit Card, you will pay no annual fee, as long as you spend at least $12,000 on the card each year. Add to that the card’s cashback Rewards Program, and you could be onto some serious money-saving.
But, don’t just take our word for it. Coastline happens to be an award winner, having taken out the 2017 Local Industry Award for Banking, Finance & Insurance at the Macleay Valley Business Awards. Not bad at all! So, what do you need to know about Coastline’s credit cards before you apply?
As with many credit unions, Coastline asks that you become a member before applying for one of its products. That means, if you want to apply for a Coastline credit card, you will first need to become a Coastline Credit Union member.
Not to worry, though, everyone is welcome at Coastline, as long as they are an Australian resident. All you need to do is complete the required membership form and purchase a $2 redeemable member share, which can be deducted from your opening deposit.
Applying to become a Coastline Credit Union member can be done either in person at any Coastline branch (which you’ll have to be in the Port Macquarie, NSW area to do), or online, by completing a membership application and identity verification.
When you apply for a credit card, you usually spend some time comparing the options to make sure you choose the right one. Luckily, creditcard.com.au makes this comparison process super easy. So, if you’re considering applying for a Coastline credit card, what do you need to know to compare the options and make the right choice?
Currently, Coastline has a very select range of credit cards, in that it only has one credit card on offer: the Coastline Visa Credit Card. But, while the range may be small, Coastline’s credit card is very appealing, offering a low annual fee, a reasonable rate of interest on purchases, and a unique and innovative rewards program.
When comparing credit cards, one of the first things many applicants look for is introductory offers. In fact, some applicants search for a new credit card only to take advantage of its introductory offer. These offers can come in the form of purchase rate or balance transfer offers, offers on annual fees, or bonus rewards points.
Just like any other financial services provider, Coastline’s range of introductory offers is always changing. So, here are some offers to keep an eye out for.
While introductory offers are often enticing, it’s generally a good idea to look beyond the offer to find out exactly what the card has to offer day to day. This means paying attention to how much it charges in annual fees and in interest.
If you tend to carry a balance each month, then the card’s rate of interest should be of particular importance to you. If you want to save money, then choosing a card with a low rate in the long term, or a balance transfer offer in the short term could be the best option.
When it comes to the Coastline Visa Credit Card, its purchase rate is neither high nor low. It could not be described as a low rate card, but at the same time, its purchase rate is not as high as some of the more expensive options on the market, such as high-feature platinum and black cards and some travel rewards cards.
So, if you choose to apply for the Coastline Visa Credit Card, it’s a good idea to clear your balance at the end of each statement period to avoid interest accruing – and to make any rewards you earn worthwhile.
It is worth pointing out that the Coastline Visa Credit Card does offer up to 55 days interest free on purchases, as long as you clear your balance each month. This can give you some breathing space from interest if there is a larger purchase you would like to make.
The annual fee is another important factor to look at when comparing credit cards. Finding out the annual fee will not only tell you whether you can afford the card, it will also help you to work out the value of the card.
If a credit card has a high annual fee, it will usually offer a number of features in return. These features could include travel-related benefits, such as airport lounge access, hotel perks and travel insurance, as well as other benefits, like a concierge service or a rewards program.
The key to working out the value of a card is determining whether the features on offer will actually be of use to you, and whether they are worth more than you are paying out in annual fees.
The Coastline Visa Credit Card has a relatively affordable annual fee, especially when you take into account the fact that is has a rewards program. It’s also worth pointing out that the annual fee on this card is waived if you spend more than $12,000 per year on it. This most definitely makes the card good value.
Now we know how much the card will cost in annual fees and interest, it’s time to look at the features it has to offer. It’s fair to say the Coastline Visa Credit Card does not have an abundance of features. But then, its selling point is its affordability and its rewards program.
In terms of security features, the Coastline Visa Credit Card provides the standard security basics found on any Visa card. One feature you may want to sign up for is Verified by Visa. This allows you to set a password that must be entered when shopping online at participating retailers, helping to avoid unauthorised use of the card.
Of course, you also have the accessibility Visa offers as standard as well, allowing you to use the card at millions of locations around the world. Basically, anywhere Visa is accepted.
If you have spent any time comparing credit cards with rewards programs, you may have noticed most rewards cards come with a substantial price tag. For the most part, you will either pay a low annual fee for a low earn rate on rewards, or you will pay a high annual fee for a high earn rate. In any case, rewards cards usually reward big spenders.
However, the Coastline Visa Credit Card offers you something a little bit different. As we mentioned before, if you spend $12,000 or more on the card each year, the annual fee will be waived. This essentially makes the card free to use, as long as you clear the balance each month and avoid all other fees. So, any rewards you earn are also essentially free.
How does the rewards program work? For every $1 spent on the card, both in Australia and overseas, you will earn 1 point on the Rewarder program. With this card, 1 point equates to 0.0066 cents, so for every $150 you spend, you will receive $1 back.
While this doesn’t sound overwhelming, it is worth remembering that as long as your annual fee is waived, you are basically getting cashback on your spending, without any payout for the card on your part.
How you can use that cashback is pretty great too. Instead of redeeming points you earn on items from a brochure, you can spend them on anything you want. Earned points are loaded onto your Rewarder card, which can then be used anywhere EFTPOS is accepted.
Want a coffee? You can buy that with your points. Want a new pair of shoes? You can buy that with your points. Want to fill up the car with petrol? Yes, you can buy that with your points too.
As the Rewarder website says, this is the ‘no more toasters, cheap wine and brochures full of stuff you don’t want’ Rewards Program. Not exactly elegant, but it gets the point across.
Every time you apply for a credit card, that application is noted on your credit file. If your application is rejected – for whatever reason – that will also be recorded on your credit file. So, it only makes sense to check for any eligibility requirements before applying for a card.
Avoid black marks on your credit file by making sure you meet all specified eligibility criteria. While this criteria changes according to the credit card and card provider, it may relate to your residency status, your age, your annual income and your credit worthiness.
If you’re unfamiliar with a financial services provider, it can be worthwhile finding out a bit more about the provider before applying. We already know Coastline is all about low cost options and great service, so what else is there to know?
As a smaller financial services provider, Coastline works to set itself apart from the big banks. Coastline says it offers the same range of personal and business banking services and products that any big bank can, but unlike the big banks, it exists solely to support the people who live, work and play in its community.
One of the main ways it achieves this is with The Foundation. Each year Coastline contributes 5% of its operating profit to the Coastline Community Foundation as a way of showing its tangible support to the community. That has meant that, since its inauguration in 2002, The Foundation has provided over $900,000 to more than 240 local causes.
Love what Coastline has to offer? Get in on the action and apply for a Coastline credit card today!
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