Wizitcard Interest Free Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

Who suits the Wizitcard Interest Free Credit Card?

Budget Keeper: you prefer predictable repayments, dislike interest, and want a small limit to keep spending in check.

Simplicity Seeker: you want a straightforward card with digital wallet support and clear fees.

Overall Rating

Wizitcard is laser-focused on one promise: no interest charges on purchases, ever. It keeps things simple but flexible, allowing you to customise your repayments to your budget, while the low $1000 credit limit helps keep spending in check. The trade-off is the $19 monthly fee that's applied when you use the card or have a balance to pay off.

There are no rewards or added insurances, so the interest-free value will hinge on how you use the card, how quickly you repay, and whether the monthly fee makes sense for the amount you spend. It's a nifty card to keep in the back pocket for emergencies, for building a credit score (especially if you've been knocked back by banks before), or if you want predictable repayments rather than accrued interest.

What I like about Wizitcard

This is a card that runs a little differently to regular credit cards, and I'm a fan of products that offer something new. It gives you as the customer more choices and that hopefully means more savings. The Wizitcard is still a credit card, but instead of paying interest on your purchases, you'll instead pay a flat monthly $19 fee (only if you use it or have a balance) and make regular repayments that suit your budget. Here's how it works:

• If you don't use the card: You'll pay no interest and no annual or monthly fees.
• If you use the card: You'll pay a flat $19 fee for the statement period, which will continue to be charged until the balance is paid off.
• When you make repayments: You can choose your minimum repayment option, from $10 weekly, $20 fortnightly or $45 monthly.

Because your balance won't be charged interest, you're free to choose a repayment method that suits your budget. This is one of my favourite things about Wizitcard - you don't have to stress about the interest snowballing out of control. Of course, you always want to make sure you're spending within your means, and paying off your balance will save you the $19 per month fee. Wizitcard says you can make additional payments towards your balance via the Wizitcard app.

Wizitcard also says it's more accepting in its approval process and could suit those who've been overlooked or ignored by banks before. The application process is simple, and Wizitcard says you'll receive a response within 10 minutes unless it need more information to process your application.

Extras and features

Wizitcard could make a good first-time card because it has lots of built-in guardrails to keep your spending in check. You can't withdraw cash, which is a good thing - we would never recommend that practice anyway because of the high interest rates and fees attached. It also won't let you use the card for gambling, and you can't spend over your limit (which is capped at $1000). These are handy money-saving features that keep your card costs down.

When you're approved for your card, you'll be able to use it instantly via your phone's Wallet. Wizitcard works with Apple Pay and Google Pay. The Wizitcard app lets you check your balance and transactions, make additional repayments and view statements.

How the fees work

Wizitcard keeps the fees pretty basic. You'll pay:

• A monthly fee if you're using the card: $19 in any statement period when the card is used or if an amount is owing. It’s waived if there’s no amount owing and you don’t use the card in that period.
• Late fees and declined repayments: A $1.00 late fee accrues per day the account is overdue (capped at $100 per rolling 12 months) with a 10-day grace period. A $1.90 dishonour fee applies if a repayment is declined.
• Foreign use: A 3% currency conversion applies to overseas purchases plus international conversion rates (this is standard for most credit cards). You can't withdraw cash from your card overseas.

What’s not so great

Overall Wizitcard is a solid card with no hidden fees, but make sure to do some calculations first. If you only make a small purchase each month, the $19 monthly fee will outweigh the interest-free benefit. It's better suited if you tend to use your card more frequently, and the monthly fee and set repayments suit your spending style.

The credit limit is low at $1000, but that can be a positive if you like to keep a lid on your spending. Just know you won't be able to use it to buy a $2000 eBike. And, it doesn't come with any extras like rewards points or card insurances like purchase protection or extended warranty. It's a no-frills card that's simple to use and repay.

Who should consider Wizitcard?

This is a card that flexibly suits a few different kinds of cardholders: it works as an emergency card because it's free to keep if you're not using it; it works for those who like to use credit for cashflow, and want to save on interest and simplify repayments. It's also a reasonable card for a first-timer because it comes with guardrails against overspending. If you need higher limits or want rewards or travel extras, a different card type may be better, but you'll likely pay interest and annual fees.