Ask Roland a Question

Hi, I’m the site founder and I will personally answer your question within a business day.

By submitting this question you agree to our privacy policy.

Sydney Mutual Bank Low Rate Credit Card
Sydney Mutual Bank Low Rate Credit Card

Sydney Mutual Bank Low Rate Credit Card

Updated 31 October 2019

Purchase Rate (p.a)

10.49%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$30

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Low interest of 10.49% p.a. on purchases and balance transfers
  • Low annual credit card fee of $30
  • Up to 55 days interest free on purchases
  • Access to Apple Pay, Google Pay & Samsung Pay

  • No introductory offer on balance transfers

Creditcard.com.au review

Editor Review

Sydney Mutual Bank 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 Sydney Mutual Bank Low Rate Credit Card

Offering a lovely low rate on purchases, cash advances and balance transfers, the Sydney Mutual Bank Low Rate Credit Card could be a serious money saver for cardholders looking to keep interest costs down. Also offering a nice low annual fee, the card keeps things pretty simple elsewhere, but does provide up to 55 days interest free on purchases and worldwide Visa acceptance.

What we love...

When you are looking for a credit card that can help you save money, you will likely check out how much each one charges in interest before anything else. This is where the Sydney Mutual Bank Low Rate Credit Card shines. It has one low rate across purchases, cash advances and balance transfers, which not only makes it easier to know where you stand with interest, it could also help you save some serious money.

  • Purchases: If you carry a balance on your card – that is, if you don’t pay off your balance in full – your balance will start to accrue interest at the card’s standard variable rate for purchases. As this rate is nice and low on this card, it could help you keep interest costs down, so you can pay off more of what you owe to clear that balance faster.
  • Cash Advances: You can often find cash advance rates reaching 22% and 23% – and higher. So, not only are you likely paying fees on that cash advance, you will also be paying a huge amount in interest from the day of the withdrawal. While cash advances still aren’t generally recommended, at least on this card, the rate at which they will accrue interest is lower.
  • Balance Transfers: When you transfer a balance from another credit card onto this card, you will pay the card’s low rate, with no balance transfer fee to worry about. While it’s obviously not as low as 0% balance transfer offers, it may still help you save on interest, allowing you to pay it down faster.

Another money saver to take advantage of on the Sydney Mutual Bank Low Rate Credit Card is the card’s interest free feature. As long as you pay off your balance by the due date each month, you can benefit from up to 55 days interest free on purchases. On top of that, the card can help to keep costs low in the long term with a low annual fee.

What’s not so great...

Don’t expect anything fancy on the Sydney Mutual Bank Low Rate Credit Card. This card is built to save money, providing a low rate and a low annual fee, with a generous interest free feature thrown in. What it doesn’t have is a rewards program or extravagant extras, so if this is what you want – and what you don’t mind paying more for in fees and interest – it may be best to look elsewhere.

Why should you choose this card?

The Sydney Mutual Bank Low Rate Credit Card is an award-winner – in a big way. Taking home a stack of awards year after year, this card has been awarded a 5-star Canstar rating in the low rate Visa Credit card category in 2018, 2017, 2016, 2015, and 2014. It also won the 2016 and 2015 Gold Mozo Experts Choice Award, and was considered the perfect credit card for travel, having won the 2017 Mozo Experts Choice award in the Low Rate Travel Credit Card Category.

While it may not be packed with features, it does offer acceptance the world over, thanks to Visa’s extensive network. It also helps out with Visa payWave, offering faster payments at the checkout, and more security thanks to Verified by Visa. Cardholders can also get their hands on an enticing array of entertainment offers with Visa Entertainment.

Overall Rating

Keeping it simple, the Sydney Mutual Bank Low Rate Credit Card has one low rate on purchases, cash advances and balance transfers, with up to 55 days interest free on purchases and a low annual fee.

User reviews

Sydney Mutual Bank Low Rate Credit Card ( based on 2 Creditcard.com.au user reviews )

53% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 10.49% p.a.

Cash advance rate 15.49% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limt $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $30 p.a.

Additional card holder fee N/A

Foreign transaction fee N/A

Minimum repayment

Cash advance fee N/A

Late payment fee $25

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

Sydney Mutual Bank Low Rate Credit Card

Sydney Mutual Bank offers this low rate Visa credit card, accepted worldwide and with the option to have Visa PayWave enabled. The annual fee is lower than many other cards on the market at just $30. This card features a low purchase rate, and doesn’t include extras such as frequent flyer points and shopping rewards to keep the annual fee and interest rate down.

Key features

  • Low interest of 10.49% p.a. on purchases and balance transfers
  • Low annual credit card fee of $30
  • Up to 55 days interest free on purchases
  • Access to Apple Pay, Google Pay & 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

  • 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)

pamela

pamela

6 June 2018
what does SCU stand for
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 June 2018
    Hi Pamela, I believe it is Sydney Credit Union or was originally.
Gavin Stuart

Gavin Stuart

17 October 2017
Can I get credit or loans if I've never had loans before
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 October 2017
    Hi Gavin, its always difficult starting your credit journey. If you meet all the minimum requirements then it is possible to apply for this card. What I suggest if that you contact your everyday bank where you pay is deposited and see if they can get you a card with a small limit to start. Make sure you pay it off and don't miss any payments. Then you can build your credit further and focus on getting a card that best suits your needs.
Leanne

Leanne

20 September 2016
hi there is no where on this page to actually apply for this scu card can you please direct me to the correct area thank you
Joelene

Joelene

25 July 2016
What is your minimum income required to be approved please
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    25 July 2016
    Hi Joelene, SCU does not provide a minimum income for this product. You need to have good credit, over 18 plus be a permanent resident of AU to apply.
phat

phat

27 May 2016
I am on pension
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 May 2016
    Hi Phat - it is still possible to apply if you meet the minimum requirements.
Darrin Marek

Darrin Marek

26 March 2016
What, if any,is the late payment fee?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 March 2016
    Hi Darrin, the late payment fee is $30

Similar Credit Cards

Virgin Australia Velocity High Flyer Credit Card

31 reviews
$0 saved over 15 months

ANZ Low Rate Credit Card

58 reviews
$0 saved over 15 months

St.George Vertigo Credit Card

19 reviews
$0 saved over 18 months
Help us improve

By submitting this feedback you agree to our privacy policy.

My credit card is not listed

By submitting this form you agree to our privacy policy.