BankVic Low Rate Card

On BankVic's website

BankVic Low Rate Card

Balance transfer

6 months at 8.99% p.a.

Purchase rate

6 months at 8.99% p.a.

Interest-free days

44 days

Annual fee

$0.00 p.a. ongoing

Highlights

  • Transfer your balance to BankVic and lower your interest repayments.
  • Benefit from a low ongoing interest rate on carried-over balances.
  • Pay no annual fee for life.

Pros and cons

Pros

  • No annual fee for as long as you hold the card.
  • Consolidate debt and reduce interest with a balance transfer.
  • Up to 44 days interest-free.
  • Low interest on cash advances and balances carried over.

Cons

  • No rewards program.
  • International currency conversion fee of 3.65%

About this credit card

Basics

Card usage

Apple Pay Enabled
Yes
Card Type
Visa
Gambling Transactions Allowed
No
Samsung Pay Enabled
No

Eligibility

Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Good
Minimum Income
N/A
Temporary Residents Accepted
No

Additional cardholders

Additional Cardholders
1
Additional Card Fee Ongoing
$0.00

Credit limits

Minimum Credit Limit
$1,000.00
Maximum Credit Limit
$20,000.00

Repayments

Interest Charged From
Purchase date
Interest Free Period
Up to 44 days on purchases
Minimum Repayment Percentage
2.5%

Balance transfers

Balance transfer offer

Balance Transfer Rate
8.99%
Balance Transfer Period
6 months
Balance Transfer Fee Percentage
0%

Balance transfer conditions

Balance Transfer From Personal Loan
No
Balance Transfer Limit Percentage
95%
Balance Transfer Revert Rate
13.95%

Rates, fees, charges

Cash advances

Cash Advance Rate
13.95% p.a.
Cash Advance Fee
$0.00
Cash Advance Fee Percentage
0%
Cash Advance Fee Threshold
N/A

Purchases

Purchase Rate Introductory Offer
8.99%
Purchase Rate Introductory Period
6 months
Purchase Rate Ongoing
13.95% p.a.

Account fees

Annual Fee Initial Year
N/A
Annual Fee Ongoing
$0.00
Dishonour Fee
$9.00
Duplicate Statement Fee
N/A
Foreign Exchange Fee Percentage
3.65%
Late Payment Fee
$15.00

Rewards

Rewards program basics

Rewards Program
N/A
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
N/A

Rewards points per $1 spent

Domestic Rewards Points Earn Rate
N/A
Government Rewards Points Earn Rate
N/A
Overseas Rewards Points Earn Rate
N/A

Additional perks

Insurance

Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
No
Cardholder's International Travel Insurance
No
Cardholder's Interstate Flight Inconvenience
No
Cardholder's Personal Item Theft Cover
No
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
No
Cardholder's Refund Protection
No
Cardholder's Transport Accident Insurance
No

Travel and lifestyle

Airport Lounge Access Included
No
Concierge Service Included
No
Complimentary Flight Voucher Included
No
Complimentary QFF Membership Included
N/A

Our review

Convenience

Customer service

Rates and fees

Rewards

Trust

The basics

  • Additional cardholders. You can ask for another card for free. The account holder will be responsible for looking after this card and any other cards you may have on the same account.
  • Digital wallets. This card can be set up for mobile payments with Apply Pay and Google Pay.
  • Gambling transactions. Gambling transactions are blocked on this card.

Rewards and benefits

  • Complimentary travel insurance. This card does not come with free insurance.
  • Concierge services. The BankVic Low Rate Card does not give access to a concierge service.
  • Insurances. There is no complimentary insurance coverage for this card.
  • Rewards points. The BankVic Low Rate Card does not have a rewards program.
  • Sign-up bonus. You won’t get any bonus for signing up for this card.

Rates and fees

  • Annual fee. The card has no annual fee, ever.
  • Balance transfers. The balance transfer offer for the BankVic Visa Silver Credit Card is 8.99% p.a. for 6 months. You can use up to 100% of your credit limit for balance transfers. Balance transfers are not possible from a personal loan.
  • Cash advances. For a cash advance, you will be charged interest at the rate of 13.95% p.a., charged immediately. This is one of the cheaper credit cards for cash advances.
  • Foreign exchange fee. This card attracts a 3.65% foreign currency transaction fee if you purchase anything overseas or online in foreign currency or Australian dollars.
  • Interest-free period. Enjoy up to 44 days interest-free on purchases after payment in full.
  • Purchases. BankVic Visa Silver Credit Card offers an 8.99% p.a. introductory deal on purchases for 6 months. After the end of the introductory period, the standard interest rate of 13.95% p.a. will apply to any purchases made on the card.

account

Reviewed by Credit Card Compare Staff

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