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Heritage Gold Low Rate Credit Card
2 reviews

Heritage Gold Low Rate Credit Card

Purchase rate

11.80% p.a.

Balance transfer

N/A

Annual fee

$0 p.a.

Pros

Credit card with no annual fee, great for emergencies or occasional purchases

Low purchase and cash advance rate

Cons

No interest free days

100% of customers who have rated this card would recommend it
  • Rates
    100%
  • Fees
    53%
  • Rewards
    N/A
  • Customer Service
    58%
  • Value
    41%
Overall user rating 50%
2 reviews
Interest Rates
Purchase rate 11.80% p.a.
Cash advance rate 11.80% p.a.
Interest free on purchases up to 0 days
Balance Transfer
Credit limits
Minimum credit limit $1,000
Maximum credit limit N/A
Fees & repayments
Annual fee $0 p.a.
Additional cardholder fee Up to 2 - $0 p.a.
Cash advance fee 3%
Foreign transaction fee 3%
Minimum repayment 3%
Late payment fee $20
Credit card type Visa
Complimentary insurance
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

Heritage Gold Low Rate Credit Card

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

The Heritage Gold Low Rate Credit Card

With no annual fee, the Heritage Gold Low Rate Credit Card can help cardholders keep ongoing costs to a minimum. It also has one low rate for purchases and cash advances, which could mean it would work well for cardholders who carry a balance. In terms of features, cardholders can benefit from the standard range of Visa extras, including Verified by Visa and Visa Entertainment.

What we love...

The Heritage Gold Low Rate Credit Card has two main things going for it. First up, it has one low rate for purchases and cash advances. Why would you want a card with a low rate? The main reason for choosing a card with a low purchase rate is to save money when you carry a balance. When you carry a balance on a credit card, it accrues interest at the card’s purchase rate. So, it only makes sense that you would want that purchase rate to be as low as possible.

If you choose a card with lots of features, or one that earns rewards, you may find the purchase rate on your card is significantly higher than the one on the Heritage Gold Low Rate Credit Card. While you may think you are getting more from the card on all the extras it offers, the interest you are paying out on your carried over balance is likely negating any value you gain in features and rewards.

The second main attraction on this card is the fact that it doesn’t charge an annual fee. Again, this feature works well for cardholders looking to keep costs down. By not paying an annual fee each year, cardholders can spend that money elsewhere. Whether it goes towards paying down that balance, or doing something else entirely, it’s certainly nice not having an annual fee to pay.

What’s not so great...

Many credit cards now offer a certain number of interest free days on purchases. The Heritage Gold Low Rate Credit Card does not. That means you will start paying interest on each purchase from the day you make it.

It is worth bearing in mind that a low rate card tends to suit cardholders who carry a balance, as it helps them to accrue interest at a lower rate. However, interest free periods are only offered to cardholders who clear their balance each month. If you carry a balance, you would be paying interest on each purchase from day one regardless of whether the card offered an interest free period.

So, this card lacking an interest free period would really only affect cardholders who would usually clear their balance month to month.

Why should you choose this card?

As a basic card, the Heritage Gold Low Rate Credit Card would likely suit someone who wants to keep it simple, while trying to save on interest and annual fees.

We’re not entirely sure why it is designated a ‘gold’ card. Typically, a gold card tends to offer more in the way of features, which places it above ‘classic’ cards. However, the Heritage Gold Low Rate Credit Card doesn’t have any special features that we could see. It really only offers the kind of extras you would expect on a classic or low rate card.

The only way we can explain this is with the fact that the card charges no annual fee, as cards with no annual fee tend to have fewer features.

Overall Rating

The Heritage Gold Low Rate Credit Card has a low ongoing purchase rate and no annual fee, keeping things basic despite its ‘gold’ status.

6 questions (showing the latest 10 Q&As)

Keith.kruse

Keith.kruse

5 April 2018
How do I apply for one
Stephen Wruck

Stephen Wruck

12 November 2017
Would like to apply for low rate card been referred to you by friends
Linda Mcleod

Linda Mcleod

23 August 2017
I applied for a low rate card as credit balance transfer how long will it take to get a reply thank you
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 August 2017
    Hi Linda, it typically takes 5-10 business days to process a credit card application.
luz mortis

luz mortis

12 December 2016
Does the purchase rate increase every year?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 December 2016
    Hi Luz, the purchase rate does not automatically increase every year. It is possible that the bank can increase the interest rate but it could also decrease as well, though a decrease is always less likely.
Robert francis johnston

Robert francis johnston

29 November 2016
Application forms . can you email.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 November 2016
    Hi Robert, give the bank a call on 13 14 22. I am not sure if they have forms they can email but they might.
Gagandeep kaur

Gagandeep kaur

23 November 2016
I want to apply for credit card. I am working full time permanent. So how can I apply this credit card. Thanks Gagandeep kaur

Heritage Gold Low Rate Credit Card

The Heritage Gold Low Rate card offers no-frills, in the same manner as the classic card but comes with no interest free days and no annual fee.

Key features

  • No annual fee for the life of card
  • Access to Visa Entertainment
  • Credit limits from $1,000
  • 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 Gold Low Rate Credit Card
Heritage Gold Low Rate Credit Card

Heritage Gold Low Rate Credit Card

Updated 18 June 2019

Purchase Rate (p.a)

11.80%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$0

$0 over 0 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Credit card with no annual fee, great for emergencies or occasional purchases
  • Low purchase and cash advance rate

  • No interest free days

Creditcard.com.au review

Editor Review

Heritage Gold Low Rate Credit Card

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

The Heritage Gold Low Rate Credit Card

With no annual fee, the Heritage Gold Low Rate Credit Card can help cardholders keep ongoing costs to a minimum. It also has one low rate for purchases and cash advances, which could mean it would work well for cardholders who carry a balance. In terms of features, cardholders can benefit from the standard range of Visa extras, including Verified by Visa and Visa Entertainment.

What we love...

The Heritage Gold Low Rate Credit Card has two main things going for it. First up, it has one low rate for purchases and cash advances. Why would you want a card with a low rate? The main reason for choosing a card with a low purchase rate is to save money when you carry a balance. When you carry a balance on a credit card, it accrues interest at the card’s purchase rate. So, it only makes sense that you would want that purchase rate to be as low as possible.

If you choose a card with lots of features, or one that earns rewards, you may find the purchase rate on your card is significantly higher than the one on the Heritage Gold Low Rate Credit Card. While you may think you are getting more from the card on all the extras it offers, the interest you are paying out on your carried over balance is likely negating any value you gain in features and rewards.

The second main attraction on this card is the fact that it doesn’t charge an annual fee. Again, this feature works well for cardholders looking to keep costs down. By not paying an annual fee each year, cardholders can spend that money elsewhere. Whether it goes towards paying down that balance, or doing something else entirely, it’s certainly nice not having an annual fee to pay.

What’s not so great...

Many credit cards now offer a certain number of interest free days on purchases. The Heritage Gold Low Rate Credit Card does not. That means you will start paying interest on each purchase from the day you make it.

It is worth bearing in mind that a low rate card tends to suit cardholders who carry a balance, as it helps them to accrue interest at a lower rate. However, interest free periods are only offered to cardholders who clear their balance each month. If you carry a balance, you would be paying interest on each purchase from day one regardless of whether the card offered an interest free period.

So, this card lacking an interest free period would really only affect cardholders who would usually clear their balance month to month.

Why should you choose this card?

As a basic card, the Heritage Gold Low Rate Credit Card would likely suit someone who wants to keep it simple, while trying to save on interest and annual fees.

We’re not entirely sure why it is designated a ‘gold’ card. Typically, a gold card tends to offer more in the way of features, which places it above ‘classic’ cards. However, the Heritage Gold Low Rate Credit Card doesn’t have any special features that we could see. It really only offers the kind of extras you would expect on a classic or low rate card.

The only way we can explain this is with the fact that the card charges no annual fee, as cards with no annual fee tend to have fewer features.

Overall Rating

The Heritage Gold Low Rate Credit Card has a low ongoing purchase rate and no annual fee, keeping things basic despite its ‘gold’ status.

User reviews

Heritage Gold Low Rate Credit Card ( based on 2 Creditcard.com.au user reviews )

50% 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 11.80% p.a.

Interest free on purchases up to 0 days

Credit limits

Minimum credit limt $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $0 p.a.

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

Foreign transaction fee 3%

Minimum repayment 3%

Cash advance fee 3%

Late payment fee $20

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

Heritage Gold Low Rate Credit Card

The Heritage Gold Low Rate card offers no-frills, in the same manner as the classic card but comes with no interest free days and no annual fee.

Key features

  • No annual fee for the life of card
  • Access to Visa Entertainment
  • Credit limits from $1,000

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.

6 questions (showing the latest 10 Q&As)

Keith.kruse

Keith.kruse

5 April 2018
How do I apply for one
Stephen Wruck

Stephen Wruck

12 November 2017
Would like to apply for low rate card been referred to you by friends
Linda Mcleod

Linda Mcleod

23 August 2017
I applied for a low rate card as credit balance transfer how long will it take to get a reply thank you
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 August 2017
    Hi Linda, it typically takes 5-10 business days to process a credit card application.
luz mortis

luz mortis

12 December 2016
Does the purchase rate increase every year?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 December 2016
    Hi Luz, the purchase rate does not automatically increase every year. It is possible that the bank can increase the interest rate but it could also decrease as well, though a decrease is always less likely.
Robert francis johnston

Robert francis johnston

29 November 2016
Application forms . can you email.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 November 2016
    Hi Robert, give the bank a call on 13 14 22. I am not sure if they have forms they can email but they might.
Gagandeep kaur

Gagandeep kaur

23 November 2016
I want to apply for credit card. I am working full time permanent. So how can I apply this credit card. Thanks Gagandeep kaur

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