Community First Low Rate Pink 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 McGrath Pink Visa Credit Card

Allowing cardholders to support the McGrath Foundation, the McGrath Pink Visa Credit Card is an award-winning card with a low annual fee and a low rate of interest on purchases, balance transfers and cash advances. Cardholders can benefit from customer support provided by Community First, and all the accessibility and security offered by Visa.

If you apply by 12 October 2023, you'll also get $100 cashback if you use your card to make an eligible purchase within 30 days. An eligible purchase includes everyday items like groceries and petrol, and doesn't include Bpay transactions, internet banking transfers, refunds or fees. The cashback will be credited to your account within 10 days of meeting the criteria.

What we love...

If you have spent any time comparing low rate cards, you may have noticed some offer lower rates than others. Issued by Community First, the McGrath Pink Visa Credit Card has one of the lowest rates on the market, with one super low rate across purchases, balance transfers and cash advances. But why is its low rate so much lower than other supposedly low rate options?

Community First is a mutual organisation, which means it is owned by its members. Where other banks may be owned by external shareholders – and their profits go towards paying out dividends to those shareholders – in a mutual organisation, profits can be used to support local communities or charities, or reinvested to benefit members with better rates and fees.

But, the McGrath Pink Visa Credit Card can provide more than just low rates and a low annual fee. As the name suggests, this is a card that supports the McGrath Foundation, and as a cardholder, half of your annual fee will go to the McGrath Foundation, each and every year. So, what does the McGrath Foundation do exactly?

The McGrath Foundation raises money to fund McGrath Breast Care Nurses in communities across Australia. The Foundation currently has 162 McGrath Breast Care Nurses, who each work to help individuals and their families experiencing breast cancer by providing physical, psychological and emotional support, for free.

What’s not so great...

Quite honestly, we don’t have anything to complain about on the McGrath Pink Visa Credit Card. It has an incredibly low purchase rate and a low annual fee – half of which is donated to help the McGrath Foundation to continue to do its amazing work.

Why should you choose this card?

Allowing you to support the needs of those experiencing breast cancer, the McGrath Pink Visa Credit Card is a card that would work well for cardholders who want to give something back as they use their credit card. With its low annual fee, it could be a good option for cardholders wanting to save money, and those who perhaps don’t use their card that often.

And, the current cashback offer covers the annual fee for over 2 years, making it a good value option for an emergency card or basic credit option.

Obviously, with such a low purchase rate, it may also be a worthy option for cardholders who carry a balance each month. Compared to some cards that have interest rates reaching 21% p.a. and higher, this card’s low rate could allow cardholders to save a significant amount in interest, to then pay off their balance faster.

For those who do clear their balance month to month, they can enjoy further savings with the card’s interest free feature. This provides up to 55 days interest free on purchases as long as you pay off your balance in full by the due date, and you don’t have a balance transfer on your account.

You may also find the eligibility requirements somewhat more lenient than other cards. While the McGrath Pink Visa Credit Card does require a good credit history, it doesn’t seem to have a minimum income requirement. And, once approved, you can take advantage of credit limits ranging from $500 up to $15,000.

To apply, you must be an Australian citizen or permanent resident aged 18 or over, you must have a regular income in a job you have held for at least six months. You must not be bankrupt, or have had defaults on any loans, credit cards, interest free finance or store cards in the past five years.

Overall Rating

The McGrath Pink Visa Credit Card could help you save with a super low purchase rate and annual fee, as you support the McGrath Foundation.