Coastline Credit Cards

Who is Coastline?

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 and no balance transfer fee. Add to that one of the lowest purchase rates on the market, 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?

Becoming a Member

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, or online, by completing a membership application and identity verification.

Comparing Coastline Credit Cards

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?

What credit cards does Coastline offer?

Currently, Coastline has a very select range of credit cards: the Coastline Visa Credit Card for personal customers, plus a Visa Business Credit Card for business customers of Coastline Bank. But, while the range may be small, Coastline’s personal credit card is very appealing, offering no annual fee, a low 9.99% p.a. purchase rate, and 0% p.a. on balance transfers for the first 6 months with no balance transfer fee.

Are there any introductory offers?

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.

• Balance transfer offers: This type of offer provides a lower rate of interest on balance transfers for an introductory period, allowing cardholders to transfer a balance from another credit card and pay it off quicker, while paying less in interest.
• Purchase rate offers: This type of offer lowers the standard rate of interest on purchases for an introductory period, allowing cardholders to buy items on their card and save on interest.
• Bonus rewards points offers: This type of offer gives new cardholders bonus rewards points either on sign-up, or after spending a certain amount within a specified period.
• Annual fee offers: This type of offer reduces the annual fee, either for an introductory period or for the life of the card.

What rate of interest does it charge?

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 9.99% p.a. purchase rate is one of the lowest on the market, and the same 9.99% p.a. rate applies to cash advances.

So, if you choose to apply for the Coastline Visa Credit Card, it’s still a good idea to clear your balance at the end of each statement period to avoid interest accruing.

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.

What is the annual fee?

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 no annual fee, and there’s no minimum spend required to avoid one. This most definitely makes the card good value.

What features does it offer?

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.

In terms of security features, the Coastline Visa Credit Card comes with Visa 3D Secure for safer online shopping and 24/7 fraud monitoring. You can also add the card to Google Pay and Apple Pay.

Of course, you also have the accessibility Visa offers as standard as well, allowing you to use the card at over 24 million locations worldwide. Basically, anywhere Visa is accepted.

Is there a rewards program?

No. The Coastline Visa Credit Card is a low rate, no annual fee card and doesn’t come with a rewards program. If earning points is a priority for you, you may want to compare rewards credit cards instead.

Are you eligible to apply?

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.

What can Coastline do for you?

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 $1,000,000 to more than 200 local causes.

Love what Coastline has to offer? Get in on the action and apply for a Coastline credit card today!