Heritage Gold Low Rate Credit Card

Heritage Gold Low Rate Credit Card

My rate: 
My annual fee: 
All banks
Card features
balance transfer
purchase rate
annual fee
Money saved
Heritage Gold Low Rate Credit Card
$0 p.a. annual fee. You can’t get better than that!
Low ongoing interest rates of 10.80% p.a. on purchases and cash advances.
Credit limits start at $1,000
Add to comparison
10.80% p.a.

Pros & cons

What's good?

What's not so good?

$0 p.a. annual fee. You can’t get better than that!
Credit limits start at $1,000.
Joint applications are allowed.
Interest rates on cash advances are comparatively low at 10.80% p.a., which is lower than the standard rate on purchases offered by many other popular cards.
The standard interest rate on purchases is a low 10.80% p.a.
Shop with confidence with Visa’s Zero Liability policy.
Enabled with Visa payWave for faster transaction.
No interest free days to suit those who carry over a balance
You can only add 2 additional cardholders, which is quite limiting.
Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Heritage Gold Low Rate Credit CardReviewed by Yvonne Taylor

Anyone who expects to always, or almost always, carry a balance on their credit card, and is looking for a basic card with a low interest rate and no annual fee, will find it hard to go past the Heritage Gold Low Rate Credit Card. It does almost everything a credit card is supposed to do – all the convenience and security you need with no unnecessary frills – except that it does not offer any interest-free days. If you’re the type of person who wants to avoid interest payments altogether by always paying off their balance in full every month, this card will not suit you. But if that’s not you, read on.

No annual fee at all

The $0 annual fee is a very welcome feature. It means you can even keep the card in your wallet for emergencies and unexpected bills, without it costing you anything to sit there until it’s needed. There’s also no fee for up to two supplementary cards on the account.

No interest-free days

Most credit cards offer up to either 44 or 55 interest-free days on purchases, provided you clear your debt in full every month. This is not one of those cards. Interest will be charged from the day you make a purchase or take a cash advance, until the day you repay the amount owing. It still qualifies as a credit card because the card issuer is extending credit by lending you the purchase or cash advance amount and charging you interest on the unpaid balance.

Same low interest rate on both purchases and cash advances

The interest rate you’ll pay is a truly low (for a credit card) 10.80% p.a., and this applies to both purchases and cash advances. This is in contrast to some low rate cards where the interest rate on purchases is indeed low, but the cash advance rate is 20% p.a. or more.

Low credit limits available

If you think that you’ll be paying off your balance in instalments most of the time, you may be concerned that having a credit card in your pocket will be too much of a temptation to spend. But you can put a limit on the temptation by opting for a low credit limit – as low as $1,000. Once you’ve reached the credit limit, any purchases you attempt to make with the card will be rejected.

You will be obliged to make monthly repayments of the greater of 3% of the balance owed or $30. So, if your unpaid balance stays at around $1,000, your monthly cost will be a maximum of $30.

Hefty late payment fee

If you miss the $30 minimum repayment date you’ll be charged a large late payment fee of $20, almost doubling your monthly cost. It would be a good idea to set up an automatic payment of $30 from your bank transaction account to your credit card account, to occur on or before the payment due date each month.

Joint applications are allowed

If you’d feel more comfortable sharing the responsibility for the debt with someone else, such as your partner, you can apply for the card in joint names. But be aware that you are jointly and individually responsible for any debt incurred, regardless of which one of you did the spending.

All the usual technology and security

It may be a budget card, but there’s no scrimping on technology and security. The card is enabled with Visa PayWave for speedy PIN-free transactions under $100. And every purchase is covered by Visa’s Zero Liability policy, which means you won’t be held responsible for any fraudulent transactions on your account, provided you take the usual precautions of keeping your card and PIN in a safe place (the PIN in a separate place from the card) and notify the bank immediately if you lose your card or see any suspicious activity in your account.

Online shopping is protected by a password known only to the cardholder.

Visa offers and perks

As a Visa cardholder you’ll have access to Visa offers and perks. These are subject to change, but at the time of writing included movie ticket competitions and discounts, and savings on airfares, accommodation, and online wine and fashion purchases.

Other low rate credit cards

You can find other low rate credit cards on the Low Interest page in our Features section. But be aware that most of them charge an annual fee, and some have high cash advance interest rates.

A card for emergencies or semi-permanent debt

This card is going to suit two types of cardholder.

The first is someone who wants a credit card to keep in their wallet just in case they face unexpected bills (such as car repairs or medical expenses), but without paying an annual fee for a credit facility they may use only rarely.

The second person is someone who knows that they will need to make purchases, or take cash advances, that they cannot afford immediately, and therefore expects to carry interest-bearing debt for long periods. Interest-free days of the type offered by most credit cards are therefore of no appeal since they would not be able to qualify for them, and they are prepared to lose this feature for the sake of low ongoing interest charges and not paying an annual fee.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Q&As about the Heritage Gold Low Rate Credit Card

What is Heritage Bank?

Heritage bank is a customer-owned bank based in Queensland. It traces its history back to the foundation in 1875 of the Toowoomba Permanent Building Society. It became the Heritage Building Society in 1981, following a merger with the Darling Downs Building Society, and changed its name to Heritage Bank in 2011.

Can anyone have a credit card from Heritage Bank?

Yes. Although the bank’s head office and all of its branches and ATMs are located in Queensland (with plans to expand to Sydney in late 2019, and later Melbourne), you don’t need to live in Queensland because the bank offers online banking, telephone banking and a mobile app, plus fee-free access to major banks’ ATMs.

What kind of accounts and products does Heritage Bank offer?

  • Four credit cards: the Heritage Bank Platinum Credit Card, the Heritage Bank Gold Low Rate Card, the Heritage Bank Classic Visa Card and the Heritage Bank Business Visa Credit Card.
  • A Visa debit card
  • Bank savings and transaction accounts
  • Term deposits
  • Home loans
  • Car loans
  • Insurance
  • Business bank accounts, business loans and merchant services

Does Heritage Bank have branches and ATMs?

Yes. Heritage Bank’s head office is in Toowoomba, and there are more than 40 branches in Queensland, employing over 800 staff, plus even more ATMs. The bank has plans to open branches in Sydney and Melbourne in the near future.

You can also manage your accounts, including your credit card, via online banking and a mobile app.

Does Heritage Bank have online banking?


Does Heritage Bank have a mobile app?


Are Heritage Bank credit cards compatible with Apple Pay, or Google Pay or Samsung Pay?

Heritage Bank credit cards can be used with Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay.

User reviews

2.4 out of 5.0 based on 1 review0% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Sort of OK, but better deals available

Reviewed and not recommended by Ryan on 09 Dec 2016

I have been with Heritage for years. However the lack of ATMs is horrible. Fees are expensive and there are no rewards offered for loyal customers.

Service provided is good and they were quick to call me when they saw I purchased something overseas. This is one of the only reasons I am staying with them.

Shop around. You can get a better deal.

Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase Date
Interest free period
Minimum repayment
whichever is greater $30 or 3%

Rates & fees

Ongoing interest rates

Cash advances 0.90% 10.80% p.a.
Purchases 0.90% 10.80% p.a.


Annual fee
$0 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are allowed
Temporary residents are not eligible
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

Protect your identity. Monitor your credit score for free.

Join more than 17,000 Australians and get your score today.
  1. Protect yourself from identity fraud
    Get alerted to large credit score drops.
  2. Know where you stand
    The banks know your score. Shouldn’t you too?
  3. Avoid a nasty surprise
    Before applying, check if your credit is good enough.
  4. Always with you
    Check online or download the app.
People are happy
Rated 4.8 out of 5 for customer satisfaction.
You may have seen us in
Compare these cards: