Teachers Mutual Bank Credit Card

Teachers Mutual Bank Credit Card

My rate: 
17%
 
My annual fee: 
$90
 
Price of my purchase: 
$5,000
 
Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
Teachers Mutual Bank Credit Card
Special low 7.90% p.a. intro rate for the first 6 months on purchases.
Fast payments on purchases up to $100 with Visa payWave.
No annual fee to pay.
Add to comparison
6 months
7.90% p.a.
then 11.50%
6 months
7.90% p.a.
then 11.50%
$0
ongoing
 
saved over 6 months
Similar cards

Pros & cons

What's good?

What's not so good?

$0 p.a. annual fee. Can you get better than that?
7.90% p.a. intro rate for the first 6 months on purchases reverts to a low 11.50% p.a. rate.
At 11.50% p.a., this is one of the lowest interest rates on purchases.
With Visa payWave you can get through the checkout faster because you just need to tap to pay.
You can have up to 4 additional cardholders. Teachers Mutual Bank charge $0 p.a. for each.
Generous credit limits ranging from $1,000 to $25,000.
Comes with Apple Pay.
The introductory offer on purchases (7.90% p.a. for 6 months) is welcome, but it just isn’t very competitive with other introductory purchase rate offers.
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.

User reviews

4.5 out of 5.0 based on 5 reviews100% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

No fee and no rewards temptation

Reviewed and recommended by Anne on 25 Sep 2016

This card has no annual fee, which makes it the ideal card for me. I like that there is no rewards program so I am not tempted to use it to get more points. I spend much less money since I switched to this card and am in a much better financial position. I can’t see any reason why I would change to any other card.

Value for money, great service

Reviewed and recommended by Kellie on 19 Sep 2016

Good value, great customer service, protected. You have peace of mind when signing up for this card. Teachers Mutual are quick to contact you if they believe a threat of fraud is occurring to your card or account. They offer insurance, travel and many other benefits that complement your credit card.

Excellent customer service

Reviewed and recommended by Emma on 23 Sep 2015

Applying for this card was a simple process and it was sent quickly in the mail. I’ve had no issues at all with it and the customer service of Teachers Mutual Bank is outstanding. Internet banking is straightforward to use and you can use their cards at any NAB or Bank of Queensland ATM without charges.

Positive recommendation with this card

Reviewed and recommended by Cat on 20 Jul 2015

Fully recommend this card. Supportive and intuitive with regard to customers of all ages. Customer service is excellent. There’s no hesitation in displaying, explaining positives, and negatives of products, rates et al so individually tailored to individual needs. Competitive and inspirational overall and willing to offer advice about suitable options. A large institution, relates without pressure, no egotistical financial focus displayed that you’d maybe get from larger financial institutions.

Excellent range of services

Reviewed and recommended by Christine on 12 Oct 2013

The teachers credit union card offers great rewards. Excellent rates and fees. It is convenient to withdraw cash directly from ATM’s. Reward points allow for purchase of a great range products. The credit card can be used at all major department stores as well as over the Internet to make online purchases.

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
Single
Card tier
Standard
Card type
Visa
Card use
Personal
Credit rating
N/A
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
N/A
Pensioners
N/A
Rewards program
None
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$1,000
Maximum credit limit
$25,000

Repayments

Interest charged from
Purchase Date
Interest free period
Up to 55 days on purchases
Minimum repayment
3%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers7.90% p.a.6 monthsN/AN/A11.50% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Yes
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
N/A
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Teachers Mutual Bank Credit Card at the promotional balance transfer rate from:

    Rates & fees

    Promotional interest rates

    Interest ratePeriodFeeLimitRevert rate
    Balance transfers7.90% p.a.6 monthsN/AN/A 11.50% p.a.
    Purchases7.90% p.a.6 monthsN/AN/A 11.50% p.a.

    Ongoing interest rates

    MonthlyAnnually
    Cash advances 0.96% 11.50% p.a.
    Purchases 0.96% 11.50% p.a.

    Fees

    Annual fee
    $0 p.a.
    Cash advance fee
    N/A
    Dishonour fee
    $8
    Duplicate statement fee
    $7
    Foreign exchange fee
    2.45%
    Late payment fee
    $10
    Over limit fee
    $10
    Overseas ATM balance fee
    $4
    Overseas ATM withdrawal fee
    $4
    Overseas emergency card replacement fee
    $150
    Transaction verification fee
    N/A

    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 not allowed
    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.

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