Firefighters Mutual Bank Credit Card

Firefighters Mutual Bank Credit Card

Highlights

  • Get an introductory rate of 7.90% p.a. on balance transfers and purchases (reverts to 11.50% p.a.)
  • No annual fee for life.
  • Enjoy up to 55 days interest-free days.

Pros and cons

Pros

  • $0 annual fee.
  • Introductory 6-month offer for purchases and cash advances at a low 7.90% p.a. interest rate.
  • Low ongoing rates of 11.50% p.a.
  • Additional cardholders at no extra cost.

Cons

  • No rewards program.
  • No overseas insurance coverage.
  • Cash advance fee is $4.50 per transaction.
  • International currency conversion fee is 2.90% in AUD value.

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The basics

  • Additional cardholders. Add additional cardholders for free, allowing your family members to benefit from the account. The primary cardholder must manage the account and repay any balances.
  • Digital wallets. This card is compatible with Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. Gambling transactions are not blocked and will be classified as cash advances.

Rewards and benefits

  • Complimentary travel insurance. The Firefighters Mutual Bank Credit Card has no complimentary international travel insurance policy.
  • Concierge services. Since this is a low-end card, there is no access to a credit card concierge service.
  • Insurances. Insurance benefits such as extended warranty, purchase protection, and transport accident insurance are unavailable.
  • Rewards points. This credit card does not have a rewards program.
  • Sign up bonus. There is no sign up bonus for new card customers.

Rates and fees

  • Annual fee. This card has no ongoing annual fee, making it free to keep.
  • Balance transfers. The Firefighters Mutual Bank Credit Card offers a 6-month balance transfer period with a 7.9% p.a. rate and no balance transfer fee. You can also transfer balances from personal loans, up to the approved credit limit of the card, with no additional fees or charges. After the balance transfer period ends, any remaining balance will revert to the standard purchase rate of 11.50% p.a. Other interest-free balance transfer offers are available, although they typically have a balance transfer fee.
  • Cash advances. Cash advances will be charged interest at 11.5% p.a. and will begin to accrue interest immediately from the transaction date. Firefighters Mutual Bank will charge a one-off fee too. Domestic and overseas ATM withdrawals will be charged at $4.50 per transaction.
  • Foreign exchange fee. Purchases made online or in a foreign currency when travelling overseas will incur a 2.90% fee. This is around the average fee for this kind of transaction.
  • Interest-free period. Get up to 55 days interest-free on purchases (excluding cash advances) when you pay the balance in full or make the minimum payment by the due date.
  • Purchases. The Firefighters Mutual Bank Credit Card offers a 6-month-long introductory offer of 7.9% p.a. interest on purchases. After the introductory period, the ongoing purchase rate of 11.5% p.a. will apply to all purchases. The ongoing rate is competitively low, but interest-free introductory offers are typically available.

Nilooka Dissanayake

Reviewed by Nilooka Dissanayake

Writer

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