Bank Australia Low Rate Visa Credit Card

The basics

• Additional cardholders. It's free to add cards for friends and family.
• Digital wallets. Works with all the major digital wallets, including Apple Pay, Google Pay, and Samsung Pay.
• Gambling transactions. You can't use this card — or any Bank Australia card — to pay for gambling.

Rewards and benefits

• Complimentary travel insurance. This card does not come with complimentary international travel insurance.
• Concierge services. You won't have access to a concierge, which is the case for just about every low rate card.
• Rewards points. You can't earn rewards points with this card.
• Sign-up bonus. There is no sign-up bonus for this card.

Rates and fees

• Annual fee. This card's annual fee is $59 p.a., which is competitive with other low rate cards.
• Balance transfers. An introductory balance transfer rate is not currently on offer with this card. Compare balance transfer options before applying since many other banks run long-term interest-free balance transfer offers that could save you a lot of money.
• Cash advances. If you use this card to withdraw cash, you will be charged interest starting immediately at the rate of 9.39% p.a. In addition, there is a $3.50 fee on cash advances. This is extremely competitive against other credit cards.
• Foreign exchange fee. A 3.5% foreign exchange fee is charged on any payment made in a foreign currency, e.g. those while travelling and when shopping online with an overseas store
• Interest-free period. Somewhat unusually, there are no interest-free days at all — even if you've paid off the previous statement in full.
• Purchases. The Bank Australia Low Rate Visa Credit Card does not have any introductory offer for purchases, but it does have a low purchase rate of 9.39% p.a. This rate is very competitive against the wider market.