- No annual fee
- Special interest rate of 4.99% p.a. for the first 5 months on purchases and balance transfers
- 12.95% p.a. ongoing interest rate
- Up to 55 days interest free on purchases
- Eligible with payWave, Apple Pay, Google Pay and Samsung Pay
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Horizon Bank Credit Cards
Horizon Bank Visa Credit Card
Updated 6 March 2024
Horizon Bank Visa Credit Card, a no annual fee card, currently offers a special rate of 4.99% p.a. on purchases and balance transfers for the first 5 months. This reverts to a low ongoing interest rate of 12.95% p.a. Enjoy up to 55 interest-free days on everyday purchases online or over the phone and is accepted internationally. T&Cs apply.
Purchase Rate (p.a)
4.99% p.a.
for 5 months. Reverts to 12.95% p.a.
Balance Transfer (p.a)
4.99% for 5 months
No balance transfer fee.
Reverts to 12.95% p.a.
Annual Fee (p.a)
$0
Pros and cons
- There are other cards with 0% balance transfer offers.
Creditcard.com.au review
Editor Review
Horizon Bank Visa Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The Horizon Bank Visa Credit Card
Currently offering a special rate of 4.99% p.a. on purchases and balance transfers for five months, the Horizon Bank Visa Credit Card could help cardholders save on day-to-day spending, while making it easier to pay down existing credit card debt. As an award-winning card, it focuses on saving cardholders money, providing a low ongoing interest rate with no annual fee.
What we love...
The Horizon Bank Visa Credit Card is made to be a money-saver, pure and simple. And it does this pretty well. Recognised within the industry, this card received a Gold award for Best Transactor Credit Card 2018 in Money magazine’s ‘Best of the Best’ Awards, while also being recognised by Canstar, getting a five-star rating as a Low Fee Credit Card in 2018.
So, what does it have to offer you? First of all, let’s look at that intro offer. As a new cardholder, you can benefit from a special rate of 4.99% p.a. on purchases and balance transfers for five months from card approval. This can work well for cardholders who have credit card debt that they want to pay down, or for those who want to save on interest on new card spending.
After the intro period ends, it’s nice to see the card reverts to a low rate, which covers both purchases and cash advances. In terms of balance transfers, this can make it easier on cardholders who don’t manage to clear their transferred balance, as their balance will revert to the card’s low rate. On a more expensive card, that balance would start accruing interest at a much higher rate, making it more difficult to pay off.
Even without a balance transfer to pay off, this can be a great card to have in your wallet in the long term. That low rate can help keep costs down for cardholders who carry a balance, allowing them to pay off more of their balance as they pay less in interest. For cardholders who clear their balance each month, they can benefit from up to 55 days interest free on purchases.
However, what really stands out on the Horizon Bank Visa Credit Card is the fact that this card does not charge an annual fee. If you clear your balance to keep your interest costs at zero, you are essentially enjoying access to credit for free, while enjoying handy features such as Apple Pay, Samsung Pay and Google Pay compatibility.
What’s not so great...
While the intro offer on the Horizon Bank Visa Credit Card is good, there are other offers out there that are better. If you are serious about paying down your credit card debt, you may want to look for a 0% balance transfer offer instead. However, it is worth bearing in mind that this card provides this offer while charging no annual fee, so it’s important to take that into account when comparing the options.
Why should you choose this card?
When you apply for the Horizon Bank Visa Credit Card, you become part of a mutual. As a member, you can enjoy personalised service and all that comes with banking with a smaller financial institution. Banking with a mutual also means you can enjoy lower rates – and no annual fee on this card – helping you to keep costs down.
While it may not work for cardholders looking for fancy features or rewards, it could work well for those who want to save money both in the short term and long term.
Overall Rating
With no annual fee and a low ongoing interest rate, the Horizon Bank Visa Credit Card provides even more money-saving with a special rate of 4.99% p.a. on purchases and balance transfers for five months.
User reviews
Rates and fees
Interest rates
Purchase rate 12.95% p.a.
Introductory purchase rate 4.99% p.a. for 5 months
Cash advance rate 12.95% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 4.99% p.a. for 5 months
Balance transfer revert rate 12.95% p.a.
Balance transfer from personal loan N/A
Balance transfer fee No fee
Balance transfer limit N/A
Brands you can't balance transfer from N/A
Credit limits
Minimum credit limit $500
Maximum credit limit $30,000
Fees & repayments
Annual fee $0 p.a.
Additional cardholder fee N/A
Foreign transaction fee 3%
Minimum repayment 3% or $20; whichever is greater
Cash advance fee N/A
Late payment fee $10
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
Horizon Bank Visa Credit Card
Key features
- No annual fee
- Special interest rate of 4.99% p.a. for the first 5 months on purchases and balance transfers
- 12.95% p.a. ongoing interest rate
- Up to 55 days interest free on purchases
- Eligible with payWave, Apple Pay, Google Pay and Samsung Pay
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
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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