- 8.99% p.a. on purchases and cash advances
- No annual fee
The Northern Inland Credit Union Low Rate Visa Credit Card is a card that keeps it simple. Shunning fancy features, enticing introductory offers and attractive rewards programs, this card simply offers cardholders good value, with one super low rate on purchases and cash advances, and no annual fee to pay ever.
If you have been checking out other credit card options to compare interest rates, you’ll likely realise just how appealing the Northern Inland Credit Union Low Rate Visa Credit Card really is. Focussing on keeping costs to a minimum, this card happens to have one of the lowest rates in the market, which covers both purchases and cash advances.
So, why should the interest rate on your card matter? When you carry a balance on your credit card, that balance will attract interest at the stated rate. If you have a card with a purchase rate reaching 22% or 23% p.a., the interest you pay on your balance will obviously be much higher than on a card such as the Northern Inland Credit Union Low Rate Visa Credit Card.
It’s fair to say that some of these higher rate cards offer interest free days to cardholders who clear their balance by the due date each month. This allows cardholders to avoid those high interest charges while enjoying everything else the card has to offer. However, cardholders who carry a balance will pay that higher rate of interest from the day they make the purchase.
Aside from potentially saving you on interest, the Northern Inland Credit Union Low Rate Visa Credit Card can also help you save on annual fees. We often find that basic cards such as these have a low annual fee, but this card actually has no annual fee at all. That means you can keep the card in your wallet at no cost – apart from any interest charges or other fees that may apply.
As we mentioned previously, some cards offer interest free days to cardholders who clear their balance each month. Unfortunately, the Northern Inland Credit Union Low Rate Visa Credit Card does not offer any interest free days, so cardholders start to pay interest from the day they make each purchase.
While this is not ideal for cardholders who clear their balance – another option with interest free days may be a better choice for them – those who carry a balance would not benefit from an interest free feature anyway.
With its super low rate, the Northern Inland Credit Union Low Rate Visa Credit Card would likely benefit cardholders who carry a balance. Paying less in interest, it could allow them to pay off more of what they owe to clear their balance faster. Paying no annual fee could help them save even more, keeping costs as low as possible.
While the card offers handy features offered on all Visa credit cards – such as access to Visa Entertainment offers and fast payments via Visa payWave – the card is for the most part a no frills option. This could work well for cardholders who want a simple card, not bogged down by complex features and small print.
With no annual fee and one of the market’s lowest purchase rates, the Northern Inland Credit Union Low Rate Visa Credit Card is a low cost option that keeps it nice and simple.
Purchase rate 8.99% p.a.
Cash advance rate 8.99% p.a.
Interest free period on purchases up to 0 days
Minimum credit limt $1,000
Maximum credit limit N/A
Annual fee $0 p.a.
Additional card holder fee N/A
Foreign transaction fee N/A
Cash advance fee N/A
Late payment fee $15
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
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 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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