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Heritage Bank Classic Credit Card

2 reviews

Purchase rate

17.99% p.a.

Balance transfer

N/A

Annual fee

$55 p.a.
55% Complete (success)

Pros

Low annual credit card fee

Cons

You only receive 1 heritage credit if you spend $1,300 per month on your card

Heritage Bank Classic Credit Card

The Heritage Classic card offers a Heritage Credit each month when a user spends over $1,300 each month. This is to reward customers for using their Heritage product. Customers can check their credits through their online banking system and redeem for gift cards, home wares, appliances and more.

Key features

  • Up to 55 days interest free period
  • Annual fee of $55
  • Earn 1 Heritage Credit for every $1,300 spent per calendar month
100% of customers who have rated this card would recommend it
  • Rates
    81%
  • Fees
    63%
  • Rewards
    N/A
  • Customer Service
    65%
  • Value
    70%
Overall user rating 70%
2 reviews
Interest Rates
Purchase rate 17.99% p.a.
Cash advance rate N/A
Interest free on purchases up to 55 days
Balance Transfer
Credit limits
Minimum credit limit $1,000
Maximum credit limit N/A
Fees & repayments
Annual fee $55 p.a.
Additional cardholder fee Up to 2 - $0 p.a.
Cash advance fee N/A
Foreign transaction fee 3%
Minimum repayment 3%
Late payment fee $20
Credit card type Visa
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No
Extras
1 Heritage Credit for every $1,300 spend per calendar month

The Heritage Bank Classic Credit Card

The Heritage Bank Classic Credit Card is a classic card that earns rewards on Heritage Bank’s own rewards program, with redemption options ranging from homewares and technology, to sports equipment and gift cards. The card offers up to 55 days interest free on purchases, and if you spend at least $25,000 each year, you will pay no annual fee.

What we love...

With the Heritage Bank Classic Credit Card in your wallet, you will automatically become a member of the Heritage Credits rewards program. Using the card, you will earn 1 Heritage Credit for every $1,300 you spend on eligible purchases each month. You may also earn bonus Credits, for example, when you have held Heritage membership for at least two years, you will receive one bonus Credit each year.

Unlike some rewards programs, Heritage keeps it pretty simple, with one earn rate to remember on this card. Once you’ve earned at least five Credits, you can choose to redeem them within the program, either by logging on to internet banking or by calling Heritage Bank direct. While rewards change seasonally, you can usually find a wide range of options to choose from, with plenty of big name brands and retailers’ gift cards in attendance.

So, what should you expect to pay for this card? The Heritage Bank Classic Credit Card actually has a pretty reasonable annual fee. But, if you spend more than $25,000 on the card over the year, the annual fee is waived, allowing you to maximise the return on your spending with the Credits you earn.

Helping you to save on interest, the card also offers up to 55 days interest free on purchases. This is a great feature on a rewards card, because if you want to make the most of the rewards you earn, you need to keep interest costs at zero. The easiest way to do that is to clear your balance by the due date, to take advantage of the card’s interest free period.

What’s not so great...

While the purchase rate on the Heritage Bank Classic Credit Card is not as high as some rewards cards, it’s not low either. But this doesn’t have to be a deal breaker. As long as you avoid interest by paying off your balance by the due date, the purchase rate won’t affect you. Then, as long as you spend more than $25,000 on the card each year, you can effectively earn rewards for free.

Why should you choose this card?

If you want to earn something back on your card spending, and you don’t want to get involved in an overly complicated rewards program, the Heritage Bank Classic Credit Card could be for you. However, think about how much you will likely spend on the card before you apply.

Meeting the $25,000 minimum annual spend will make the card much more rewarding, otherwise your spend will not offer enough value to cover the annual fee. To give you an idea of value, a spend of $41,600 equals one $50 gift card, which is slightly less than the annual fee.

Overall Rating

A decent rewards option, the Heritage Bank Classic Credit Card works best for cardholders who would spend at least $25,000 on the card each year, to pay no annual fee and earn rewards for free.

4 questions (showing the latest 10 Q&As)

CJ

CJ

17 August 2018
Can you please explain what heritage credits can be used for? Nothing on the documents I've seen so far detail their value as to what they can be redeemed for
Morina

Morina

26 July 2018
I am retired and living on Super and income from a rental property, no Centrelink payments at all. Would I be approved for a credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 July 2018
    Hi Morina, income is income no matter if you are retired. If you meet the minimum requirements including income for a card you can apply. Approval will depend on a range of factors such as income v expenses, assets v liabilities and your credit history. Typically I find that its better to look at the bigger banks which are more understanding of different income streams.
Robert francis johnston

Robert francis johnston

18 November 2016
Eligible credit . my income is 32,000.00 after tax.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 November 2016
    Hi Robert, there is no set minimum income on this card. That kind of income sounds fine. You will need good credit also. Best of luck with your application.
Aaron Diamond

Aaron Diamond

19 September 2015
How do you go about increasing credit limit by $500.00
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 September 2015
    Hi Aaron - give Heritage a call on 13 14 22 or you should be able to request a credit increase through your internet banking.
  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Resident or citizen of Australia
  • You have your personal details ready to complete the online application
Heritage Bank Classic Credit Card
Heritage Bank Classic Credit Card

Heritage Bank Classic Credit Card

Updated 18 June 2019

Purchase Rate (p.a)

17.99%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$55

$0 over 0 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Low annual credit card fee

  • You only receive 1 heritage credit if you spend $1,300 per month on your card

Creditcard.com.au review

Editor Review

The Heritage Bank Classic Credit Card

The Heritage Bank Classic Credit Card is a classic card that earns rewards on Heritage Bank’s own rewards program, with redemption options ranging from homewares and technology, to sports equipment and gift cards. The card offers up to 55 days interest free on purchases, and if you spend at least $25,000 each year, you will pay no annual fee.

What we love...

With the Heritage Bank Classic Credit Card in your wallet, you will automatically become a member of the Heritage Credits rewards program. Using the card, you will earn 1 Heritage Credit for every $1,300 you spend on eligible purchases each month. You may also earn bonus Credits, for example, when you have held Heritage membership for at least two years, you will receive one bonus Credit each year.

Unlike some rewards programs, Heritage keeps it pretty simple, with one earn rate to remember on this card. Once you’ve earned at least five Credits, you can choose to redeem them within the program, either by logging on to internet banking or by calling Heritage Bank direct. While rewards change seasonally, you can usually find a wide range of options to choose from, with plenty of big name brands and retailers’ gift cards in attendance.

So, what should you expect to pay for this card? The Heritage Bank Classic Credit Card actually has a pretty reasonable annual fee. But, if you spend more than $25,000 on the card over the year, the annual fee is waived, allowing you to maximise the return on your spending with the Credits you earn.

Helping you to save on interest, the card also offers up to 55 days interest free on purchases. This is a great feature on a rewards card, because if you want to make the most of the rewards you earn, you need to keep interest costs at zero. The easiest way to do that is to clear your balance by the due date, to take advantage of the card’s interest free period.

What’s not so great...

While the purchase rate on the Heritage Bank Classic Credit Card is not as high as some rewards cards, it’s not low either. But this doesn’t have to be a deal breaker. As long as you avoid interest by paying off your balance by the due date, the purchase rate won’t affect you. Then, as long as you spend more than $25,000 on the card each year, you can effectively earn rewards for free.

Why should you choose this card?

If you want to earn something back on your card spending, and you don’t want to get involved in an overly complicated rewards program, the Heritage Bank Classic Credit Card could be for you. However, think about how much you will likely spend on the card before you apply.

Meeting the $25,000 minimum annual spend will make the card much more rewarding, otherwise your spend will not offer enough value to cover the annual fee. To give you an idea of value, a spend of $41,600 equals one $50 gift card, which is slightly less than the annual fee.

Overall Rating

A decent rewards option, the Heritage Bank Classic Credit Card works best for cardholders who would spend at least $25,000 on the card each year, to pay no annual fee and earn rewards for free.

User reviews

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

70% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 17.99% p.a.

Cash advance rate N/A

Interest free on purchases up to 55 days

Credit limits

Minimum credit limt $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $55 p.a.

Additional card holder fee Up to 2 - $0 p.a.

Foreign transaction fee 3%

Minimum repayment 3%

Cash advance fee N/A

Late payment fee $20

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Extras

1 Heritage Credit for every $1,300 spend per calendar month

Overview

Heritage Bank Classic Credit Card

The Heritage Classic card offers a Heritage Credit each month when a user spends over $1,300 each month. This is to reward customers for using their Heritage product. Customers can check their credits through their online banking system and redeem for gift cards, home wares, appliances and more.

Key features

  • Up to 55 days interest free period
  • Annual fee of $55
  • Earn 1 Heritage Credit for every $1,300 spent per calendar month

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.

4 questions (showing the latest 10 Q&As)

CJ

CJ

17 August 2018
Can you please explain what heritage credits can be used for? Nothing on the documents I've seen so far detail their value as to what they can be redeemed for
Morina

Morina

26 July 2018
I am retired and living on Super and income from a rental property, no Centrelink payments at all. Would I be approved for a credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 July 2018
    Hi Morina, income is income no matter if you are retired. If you meet the minimum requirements including income for a card you can apply. Approval will depend on a range of factors such as income v expenses, assets v liabilities and your credit history. Typically I find that its better to look at the bigger banks which are more understanding of different income streams.
Robert francis johnston

Robert francis johnston

18 November 2016
Eligible credit . my income is 32,000.00 after tax.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 November 2016
    Hi Robert, there is no set minimum income on this card. That kind of income sounds fine. You will need good credit also. Best of luck with your application.
Aaron Diamond

Aaron Diamond

19 September 2015
How do you go about increasing credit limit by $500.00
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 September 2015
    Hi Aaron - give Heritage a call on 13 14 22 or you should be able to request a credit increase through your internet banking.

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