- Low 7.49% p.a. on purchases
- $50 annual fee
- Up to 50 days interest free on purchases
As an award-winning low rate credit card, the G&C Mutual Bank Low Rate Visa Credit Card offers one of the lowest ongoing purchase rates in the market. Helping to keep costs even lower, the card has a low annual fee, and up to 50 days interest free on purchases when you clear your balance by the due date each month.
The G&C Mutual Bank Low Rate Visa Credit Card has received plenty of recognition within the industry for its low rate status – and after seeing what it’s got to offer, we can see why. This little piece of plastic has been recognised within Mozo’s Experts Choice awards as a great value low rate credit card, and has also received a five-star Canstar rating for outstanding value.
If you’ve spent any time comparing rates on low rate cards, you will see G&C’s offering has one of the lowest ongoing purchase rates in the market. Why is it so much lower than some of the other so-called low rate cards? One reason G&C Mutual Bank can offer such low rates on this card is because it’s a mutual organisation.
Mutuals – unlike publicly listed banks – are not owned by external shareholders. They are owned by their members. So, instead of profits being paid out to keep those shareholders happy, the bank can re-invest its profits back into the organisation to benefit members – by providing low rates and low fees on products such as this low rate card.
There’s no denying a low rate such as this could help cardholders save money when they carry a balance. But, the card can also offer something to cardholders who clear their balance as well. As long as you pay off your balance by the due date each month, you could benefit from up to 50 days interest free on purchases.
Last but not least on our list of loves is this card’s annual fee. While we would prefer the card’s annual fee to be at zero, it is nice to see G&C Mutual Bank is helping cardholders to keep costs down with a nice low annual fee.
If you want mesmerising introductory offers or extravagant extras, you will need to look elsewhere. This is not the type of card to offer rewards, features or mind-blowing intro offers – although it’s certainly worthwhile checking back now and then, as there may be intro offers introduced that could save you a buck or two.
Low rate cards such as the G&C Mutual Bank Low Rate Visa Credit Card typically work best for cardholders looking to save money. That could mean saving money on a low annual fee, or saving on interest if they carry a balance. With few features on offer, the card could also appeal to cardholders who want to keep things simple, while still enjoying access to credit.
Helping cardholders to save, the G&C Mutual Bank Low Rate Visa Credit Card has a low annual fee, up to 50 days interest free on purchases, and one of the lowest purchase rates around.
Purchase rate 7.49% p.a.
Cash advance rate 15.49% p.a.
Interest free period on purchases up to 50 days
Minimum credit limit $1000
Maximum credit limit N/A
Annual fee $50 p.a.
Additional cardholder fee N/A
Foreign transaction fee 3%
Minimum repayment 3% or $20, whichever is greater
Cash advance fee $5
Late payment fee $15
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
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
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.
Something you need to know about this card? Ask a our credit card expert a question.Ask a question