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G&C Mutual Bank Low Rate Visa Credit Card
G&C Mutual Bank Low Rate Visa Credit Card

G&C Mutual Bank Low Rate Visa Credit Card

Updated 26 November 2019

Purchase Rate (p.a)

7.49%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$50

$0

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Pros and cons

  • Low 7.49% p.a. on purchases
  • $50 annual fee
  • Up to 50 days interest free on purchases

  • No introductory offer on balance transfers

Creditcard.com.au review

Editor Review

G&C Mutual Bank Low Rate Visa Credit Card

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

The G&C Mutual Bank Low Rate Visa Credit Card

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.

What we love...

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.

What’s not so great...

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.

Why should you choose this card?

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.

Overall Rating

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.

User reviews

G&C Mutual Bank Low Rate Visa Credit Card ( based on 1 Creditcard.com.au user review )

53% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 7.49% p.a.

Cash advance rate 15.49% p.a.

Interest free period on purchases up to 50 days

Credit limits

Minimum credit limt $1000

Maximum credit limit N/A

Fees & repayments

Annual fee $50 p.a.

Additional card holder fee N/A

Foreign transaction fee N/A

Minimum repayment

Cash advance fee N/A

Late payment fee N/A

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

G&C Mutual Bank Low Rate Visa Credit Card

Key features

  • Low 7.49% p.a. on purchases
  • $50 annual fee
  • Up to 50 days interest free on purchases

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

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.

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