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Woolworths Team Bank Visa Credit Card
Woolworths Team Bank Visa Credit Card

Woolworths Team Bank Credit Cards

Woolworths Team Bank Visa Credit Card

Updated 4 August 2021

Enjoy a low interest rate of 13.45%. Save with an annual fee of $25. Plus, receive up to 55 days interest free on purchases. No EFTPOS transaction fees.
T&Cs apply.

Purchase Rate (p.a)

13.45%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$25

$0

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Pros and cons

  • 13.45% p.a. interest rate
  • Up to 55 days interest free on purchases
  • $25 annual fee
  • No EFTPOS transaction fees

  • No balance transfer offer

Creditcard.com.au review

Editor Review

Woolworths Team Bank Visa Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Woolworths Team Bank Visa Credit Card

Exclusively for the use of Woolworths Team Bank members – who are employees of the Woolworths (Aust) Limited group of companies and their immediate families – the Woolworths Team Bank Visa Credit Card is a basic card designed to help lower cardholder costs. With a super low annual fee and a low variable interest rate, the card keeps it simple with features, offering up to 55 days interest free on purchases.

What we love...

There’s no hiding the fact that the Woolworths Team Bank Visa Credit Card is a simple card. Instead of offering complex features and enticing rewards programs, it simply sells itself on that fact that it can help cardholders save money day to day. While this will not interest everyone, it could appeal to many, especially those who want a basic option with a low rate and low annual fee.

While it may not have any exciting introductory offers right now, it does offer the opportunity to save in the long term. One of the ways it does this is with a low rate of interest across purchases and cash advances. A low purchase rate may appeal to cardholders who carry a balance. Carrying a balance means paying interest on that balance, and on every new purchase made on the card.

So, it only makes sense that you would want that card to accrue interest at the lowest possible rate. Fancy features may turn your head, but if they come with a high purchase rate, you are likely not seeing much value on those features thanks to all the interest you are paying out.

Another nice money saver on this card is its interest free feature. When you pay off your balance by the due date, you can take advantage of up to 55 days interest free on purchases. This could help you keep interest costs at zero for both everyday spending, and well-timed larger purchases as well.

Last on the list of things to like on this card is its annual fee. Cards packed with features generally come at a price, which is why you will usually find these cards have a much higher annual fee. However, if you are trying to save on outgoing costs – or you don’t need those features and don’t want to pay for them – a basic card with a low annual fee such as the Woolworths Team Bank Visa Credit Card could be a better option.

What’s not so great...

The main thing to note on the Woolworths Team Bank Visa Credit Card is the fact that you need to become a member before you apply. Membership to WTB - Woolworths Team Bank – is exclusive to employees of the Woolworths (Aust) Limited group of companies and their immediate families, so if you don’t fit this description, you may not apply.

Why should you choose this card?

The main reason to choose the Woolworths Team Bank Visa Credit Card is to save money. So, let’s take a quick look at who would most benefit from a card such as this.

Cardholders who carry a balance: These cardholders could save on interest month to month, working to pay down their balance as they pay less in interest than they would on a more expensive card.

Cardholders who are new to credit: As long as they meet eligibility requirements, this simple card could provide a great stepping stone into the world of credit, keeping interest costs down should they overspend.

Cardholders who want to save: With a low annual fee and low interest, the card could be a perfect match for those who want to save money as they enjoy access to credit.

Cardholders who don’t use their card much: Those who want to keep a card ‘just in case’ usually don’t want to spend heaps in annual fees. A card such as the Woolworths Team Bank Visa Credit Card could provide the ideal solution.

Cardholders who like simple: Not everyone is interested in features and extras that take days reading the small print to understand. As a no frills option, this card has no complex features to worry about.

Overall Rating

A simple option, the Woolworths Team Bank Visa Credit Card has a super low annual fee, a low ongoing interest rate and up to 55 days interest free on purchases, available to Woolworths Team Bank members only.

User reviews

Woolworths Team Bank Visa Credit Card ( based on 1 Creditcard.com.au user review )

70% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 13.45% p.a.

Cash advance rate 13.45% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $25 p.a.

Additional cardholder fee N/A

Foreign transaction fee N/A

Minimum repayment 3%

Cash advance fee N/A

Late payment fee n/a

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

Woolworths Team Bank Visa Credit Card

Have a look at the Woolworths Team Bank Visa Credit Card. This low rate credit card is exclusive to anyone who works for Woolworths Group Limited, as well as family members. It has a low annual fee of $25 and offers low interest rates for purchases and cash advances.

Purchases are granted up to 55 days interest free if you pay off the total amount you owe by the due date on each statement.

Key features

  • 13.45% p.a. interest rate
  • Up to 55 days interest free on purchases
  • $25 annual fee
  • No EFTPOS transaction fees

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

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.

Showing one question (showing the latest 10 Q&As)

Rachael

Rachael

30 August 2019
is WECU an Australian credit union? Or is it also international?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    2 September 2019
    Hi Rachael, yes, its Woolworths Employees Credit Union.

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