First Option Bank Low Rate Visa Credit Card

The basics

• Additional cardholders. First Option Low Rate Visa card lets you add two additional cardholders for free. This allows you to easily share your account with family members, though it will be your responsibility to manage the account and make repayments on time.
• Digital wallets. This card works with Apple Pay and Google Pay, making it more convenient to pay.
• Gambling transactions. First Option Low Rate Visa Credit Card does not allow gambling transactions.

Rewards and benefits

• Complimentary travel insurance. The First Option CU Low Rate Visa Credit Card does not provide cardholders with international travel insurance cover.
• Concierge services. The First Option CU Low Rate Visa Credit Card does not come with a concierge service.
• Insurances. This card comes with repayment insurance and fraud protection.
• Rewards points. This credit card does not have a rewards program.
• Sign up bonus. First Option CU does not offer a sign up bonus for this card.

Rates and fees

• Annual fee. There is no annual fee for the first year, reverting to $48 p.a. This is similar to other low rate cards.
• Balance transfers. There is no introductory balance transfer offer.
• Cash advances. First Option CU Low Rate Visa Credit Card users will be charged 17.99% p.a. for cash advances, with interest accruing immediately from the transaction date.
• Foreign exchange fee. There's a 2% fee for online or overseas transactions in a foreign currency.
• Interest-free period. Get up to 45 days interest-free on purchases (excluding cash advances) when your previous balance is paid in full or you make the minimum required payment.
• Purchases. With no introductory offer running, the standard interest rate applied to purchases carried over is 10.49% p.a. This is lower than average.