- 8.99% p.a. on purchases for the first 6 months
- 8.99% p.a. on balance transfers for the first 6 months
- Low 13.95% p.a. ongoing interest rate
- No annual fee
- Online security with Verified by Visa
- Eligible with Visa Paywave, Apple Pay and Google Pay
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BankVic Credit Cards
BankVic Low Rate Visa Credit Card
Updated 7 August 2023
Save on credit card costs with $0 annual fee and low 8.99% p.a. on purchases and balance transfers for the first 6 months. Enjoy extra handy features such as online security with Verified by Visa and Visa Paywave. T&Cs apply.
Purchase Rate (p.a)
8.99% p.a.
for 6 months. Reverts to 13.95% p.a.
Balance Transfer (p.a)
8.99% for 6 months
No balance transfer fee.
Reverts to 13.95% p.a.
Annual Fee (p.a)
$0
Pros and cons
- Only up to 44 days interest-free on purchases
- No complimentary insurance cover
Creditcard.com.au review
Editor Review
BankVic Low Rate Visa 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 BankVic Low Rate Visa Credit Card
As the bank’s ‘classic’ card option, the BankVic Low Rate Visa credit card is designed to be a money-saver. Cardholders pay no annual fee on this card ever, to enjoy a low ongoing purchase rate and up to 44 days interest-free on purchases. As a new cardholder, you could save even more day to day, with an intro rate of 8.99% p.a. on purchases for six months.
What we love...
As an award-winning 5-star Canstar-rated card, there is definitely a lot to love about the BankVic Low Rate Visa credit card. However, as you will see, most of the features we love on this card are focused on money saving. There are no rewards programs to speak of, no bonus points on offer, and no fancy features to enjoy.
Instead, this is a card that keeps things simple. First up, that annual fee. The BankVic Low Rate Visa credit card has no annual fee ever, meaning you can enjoy real savings now, and later on down the track. You can also choose to add an additional cardholder to the account at no extra cost, which can offer simplified family finances, with just one card payment to cover and one statement to keep track of.
In terms of interest, cardholders can benefit from a super low introductory rate of 8.99% p.a. on purchases for the first six months. After the intro period is over, the purchase rate reverts to a very reasonable variable rate. This low ongoing rate could help cardholders keep costs down, covering more manageable interest payments than they would have on a higher rate card.
On the other hand, if you manage to pay off your balance each month, you can save even more with up to 44 days interest free on purchases. With your annual fee at zero and the opportunity to keep interest at zero too, you can see how this card offers an excellent way to access credit while keeping outgoing costs to a minimum.
What’s not so great...
With no annual fee and a low rate of interest, we don’t see much to complain about on the BankVic Low Rate Visa credit card. But, liking or disliking a card generally comes down to whether or not it offers what you need. If you need more from your card – such as insurance cover or airport lounge access to make travel more comfortable – then you may be better off seeking an alternative option.
Why should you choose this card?
Low cost cards such as the BankVic Low Rate Visa credit card tend to work well for cardholders who want a no frills option that can help them save money month to month. Cardholders who carry a balance can enjoy lower interest costs on a card such as this, providing more value than cards with higher rates that may offer a few more features.
No annual fee cards can also appeal to cardholders who don’t want to pay for features they never use, as well as to those who rarely use their card. After all, there’s not much point paying an annual fee for an all-singing, all-dancing card that will just sit in your wallet and never see the light of day.
Overall Rating
A basic card that can offer real savings, the BankVic Low Rate Visa credit card has no annual fee and a low ongoing interest rate. New cardholders can take advantage of 8.99% p.a. on purchases for six months.
User reviews
Rates and fees
Interest rates
Purchase rate 13.95% p.a.
Introductory purchase rate 8.99% p.a. for 6 months
Cash advance rate 13.95% p.a.
Interest free period on purchases up to 44 days
Balance transfer
Balance transfer rate 8.99% p.a. for 6 months
Balance transfer revert rate 13.95% p.a.
Balance transfer from personal loan N/A
Balance transfer fee No fee
Balance transfer limit 95% of approved credit limit
Brands you can't balance transfer from BankVic
Credit limits
Minimum credit limit $1,000
Maximum credit limit $20,000
Fees & repayments
Annual fee $0 p.a.
Additional cardholder fee N/A
Foreign transaction fee 3.65%
Minimum repayment 2.5% or $20, whichever is greater
Cash advance fee Free
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
Overview
BankVic Low Rate Visa Credit Card
The BankVic Low Rate Visa credit card comes with a low interest rate and no annual fee.
Key features
- No annual fee
- 8.99% p.a. on purchases for the first 6 months
- 8.99% p.a. on balance transfers for the first 6 months
- Up to 44 days interest free on purchases
- Online security with Verified by Visa
- Eligible with Visa Paywave, Apple Pay and Google Pay
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Permanent Resident or Australian Citizen
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
Recently Asked Questions
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