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bcu Classic Credit Card
bcu Classic Credit Card

bcu Classic Credit Card

Updated 2 June 2020

Purchase Rate (p.a)

11.80%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$45

$0

My transfer amount

Balance transfer from:

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My interest rate

Pros and cons

  • 11.80% p.a. on purchases
  • $0 late payment fees
  • Low $45 annual fee
  • Up to 55 days interest free on purchases

  • No intro offer on balance transfers

Creditcard.com.au review

Editor Review

bcu Classic Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The bcu Classic Credit Card

A classic card that keeps it simple, the bcu Classic Credit Card offers a low ongoing purchase rate, helping cardholders to save month to month if they happen to carry a balance. The card provides further money-saving opportunities with a low annual fee, and up to 55 days interest free on purchases when you pay the balance in full by the due date.

What we love...

As a no frills card, the main attraction on the bcu Classic Credit Card is the opportunity it provides cardholders to save as they enjoy access to credit. First up, the card has a nice low purchase rate. When you use a credit card but are not able to pay off the balance in full at the end of the month, that balance will start accruing interest according to the card’s advertised rate of interest.

Cards that offer rewards and features tend to have higher interest rates, which can make them very expensive for cardholders carrying a balance. While they may think they are getting more from their card with all those lovely extras, it’s likely they are paying more out in interest on that carried balance than the value of the rewards they are enjoying.

The solution? A low rate card such as the bcu Classic Credit Card makes more sense for cardholders who carry a balance. While it may not be as exciting as those other cards, saving money is more important. Then, as you pay less in interest month-to-month, you can pay down more of your balance, to clear it faster.

If there comes a point when you are clearing your balance each month, you may choose to apply for a card with a bit more flash. Or, you may decide that simple is better, and stick to your classic card instead. When you do manage to clear your balance each month, you can benefit from the card’s interest free feature, with up to 55 days interest free on purchases.

This can offer an easy way to buy the things you want, to pay no interest until your next credit card statement is due. Remember, if you want to make the most of this one, read the small print to make sure you understand it fully.

Another reason to keep hold of this card is its low annual fee. Cards with heaps of extras tend to charge more in annual fees as well as interest. But, if you don’t really need those extras, or you know you won’t make good use of them, then you definitely don’t want to pay for them. With a low fee card such as the bcu Classic Credit Card, you save on annual fees to take advantage of access to credit. Simple.

What’s not so great...

One of the features the bcu Classic Credit Card does offer is fast approvals. This allows new cardholders to get approved within 30 minutes – as long as they have all the correct documentation and are eligible for the card. However, to apply for this card, you need to go into one of the bcu branches to do so.

Unlike most credit card applications, which can be done online or over the phone, bcu credit card applications must be made in-store. If you don’t happen to live near a branch – which are all located on the coast of Queensland and NSW – then this will be something of a sticking point.

Why should you choose this card?

As a basic card that provides access to credit, the bcu Classic Credit Card could be the ideal option for cardholders who are only interested in simple. There are no rewards programs to get your head around, and no complex features you need to read the small print to understand. It’s a card that allows you to buy stuff now, to then pay back later.

With its low rate and low annual fee, it obviously works well for cardholders who want to save money. And, with a low minimum credit limit of $500, it could be a good option for cardholders who want to limit their spending, or who only need a small credit limit (the maximum credit limit on this card is $20,000, subject to cardholder circumstances).

Overall Rating

The bcu Classic Credit Card has a low purchase rate and a low annual fee, making it a worthy choice for money-savers looking for a basic credit card.

User reviews

bcu Classic Credit Card ( based on 2 Creditcard.com.au user reviews )

92% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 11.80% p.a.

Cash advance rate 14.80% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limt $500

Maximum credit limit $20,000

Fees & repayments

Annual fee $45 p.a.

Additional card holder fee N/A

Foreign transaction fee 3.65%

Minimum repayment 3%

Cash advance fee 0%

Late payment fee $0

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

bcu Classic Credit Card

The bcu Classic Credit Card offers very competitive interest rates, low annual fee and is accepted world wide. It has the real benefit of a low rate 11.80% p.a. on purchases. Enjoy up to 55 days interest free on purchases (when you pay off your balance in full each month) and 24 hour fraud monitoring. Give bcu a chance and experience the difference.

Key features

  • 11.80% p.a. on purchases
  • $0 late payment fees
  • Low $45 annual fee
  • Up to 55 days interest free on purchases
  • To apply for a bcu credit card you must be:
    18 years of age or older; A permanent Australian resident or citizen; and not have any outstanding defaults, judgements or am an un-discharged bankrupt or have only been un-discharged from bankruptcy for less than 2 years.

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

31 questions (showing the latest 10 Q&As)

Lees

Lees

13 November 2019
I want to apply for creadt card I’m on a pension
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 November 2019
    Hi Lees, I think it would be very hard to get approval with BCU. I would stick to the big banks that can see the pension as income. Approval will depend on income v expenses, assets v liabilities and your credit history. Something like the Westpac Low Rate might work?
Stephen Mason

Stephen Mason

5 May 2018
How do I apply for a card please?
Rita

Rita

8 February 2018
Hi there, I am self employed and looking to apply for a credit card. What documents will you require? Thanks
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 February 2018
    Hi Rita, it will depend post the application that they require. I am self employed as well and just applied yesterday for a new card. I had to provide my personal 2017 tax return plus my business tax return from 2017. Additionally to that, as I already had this for a home loan, I supplied a letter from my accountant.
David

David

25 December 2017
Sorry for interrupting your holidays but need some quick help because we probably only have one shot at this for now and after reading how some are having problems getting approved through BCU thought I would send this. In a nut shell. Credit file is clean after an issue with a default (removed from file). 5 Inquires in last 18 months, 2 where from ANZ which I have been approved for a 20000 personal loan. Don't want to go through ANZ because of the nice personal file that they keep on you which includes old credit reports that caused problems with them and the personal loan. Equifax score is at 677 but Experian is a pain and they wont move it above 497 even after removing an incorrect inquiry. Sending out a complaint on that one. Can't touch Westpac because of above issue and NAB is out of the question because of their attitude. We need the credit card for backup with our business venture and after research found out several banks and CU's don't use Experian with BCU being one of them. IYO should we proceed with BCU or maybe go with Bendigo, Unity bank or another CU? Thank you for your time and hope you have nice holidays. Dave
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 December 2017
    Hi Dave, it is tricky. All banks will use different ways to check your credit history. Have you applied for credit in the last 6 months? If not, then its worth applying. I dont think BCU or other credit unions would be easier to get approved for than anyone else. From our site, we see a very low approval rate from BCU credit cards, though this may relate to the type of people that are applying rather than the fact the overall approval rates from BCU may be lower than most.
Helen

Helen

23 December 2017
My husband was an ex bankrupt 4 years ago ,we have been received from trying all the 4 banks to get a credit card for $2,000.00 card and have been knocked back becaus his credit history for the banks is not going enough because he hasn’t been able to start again so that we can prove he have a good record, we do however have a score 820 through Equifax, can you recommend some credit cards that are more understanding the the main banks. Many thanks
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 December 2017
    Hi Helen, unfortunately, the big 4 are typically the most flexible. A secured personal loan maybe an option instead of a credit card which are harder to get approved for.
Kelly

Kelly

24 November 2017
Hi, I was wondering the minimum credit score to apply for this card? I dont want to apply and maybe get declined as it will impact on score
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 November 2017
    Hi Kelly, BCU can sometimes be difficult to get approved for. Your credit score is one thing but they will look at other key factors such as income v expenses (are you putting away money each month or have extra funds), assets v liabilities (what is the mix there) and credit history (you cant have any defaults or issues on file to get approved).
Jay

Jay

20 September 2017
Minimum I ncome requirement ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 September 2017
    Hi Jay, I believe it used to be 15k but they made us remove. The key points they are after are: I am 18 years of age or older, I am a permanent Australian resident or citizen and I do not have any outstanding defaults, judgements or am an un-discharged bankrupt.*
Erin Warhurst

Erin Warhurst

7 April 2017
Approval rate for applications that have no outstanding defaults on a credit report however Paid in full defaults?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 April 2017
    Hi Erin, every person is unique and has a unique financial situation. In saying that though it is very difficult to be approved for a new credit card if you have paid defaults. Bottom line when I had a paid default on file I could not get approved. I needed to wait until it was removed from my credit file.
Dylan

Dylan

22 March 2017
I have 2 credit cards 1 2000 and the other 3000, I want to consolidate into one as the interest rate on both are over 20% what do you think would be the best credit card with low to no balance transfer and low interest rate, mine is gem visa and Suncorp, thanks
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 March 2017
    Hi Dylan, you can look at the St George Vertigo card with 0% for 12 months on balance transfer, a low annual fee and any unpaid transfer reverts to 13.24%.
shay

shay

4 October 2016
What is the minimum income requirement and are disabilty pensioners welcome to apply? Thank you
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    5 October 2016
    Hi Sha, BCU seem to have something around wanting some $$$ in the bank to approve. There is no defined minimum income requirement provided by the bank. Bottom line is that BCU to have a low approval rate on this card from visitors to this site.
Michael Clacy

Michael Clacy

17 August 2016
Hi, what is the income minimum?. My wife and I are holidaying in Thailand early next year and I am looking for possible emergency funds availability
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 August 2016
    Hi Michael, instead of this card I would suggest one that does not have any FX charges. This BCU product has a 3.65% charge on all overseas purchases. Check out the 28 Degrees with no annual fee and a lack of overseas charges on purchases.

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