First Student

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Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
44
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$500
Minimum repayment dollars
Minimum repayment dollars
$25
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
3
Annual Fee
Annual Fee
$0
for 12 months then $30
Late Payment Fee
Late Payment Fee
$20
Over limit fee
Over limit fee
$20
Duplicate statement fee
Duplicate statement fee
$0
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
44
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$500
Minimum repayment dollars
Minimum repayment dollars
$25
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
3
Annual Fee
Annual Fee
$0
for 12 months then $30
Late Payment Fee
Late Payment Fee
$20
Over limit fee
Over limit fee
$20
Duplicate statement fee
Duplicate statement fee
$0
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
19.74%
Cash advance rate
Cash advance rate
21.49%
Purchase Rate
Purchase Rate
19.74%
Cash advance rate
Cash advance rate
21.49%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
Transfer Limit
Transfer Limit
95%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$100
Balance Transfer Rate
Balance Transfer Rate
Transfer Limit
Transfer Limit
95%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$100

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$6
Estimated ATM Cost
Estimated ATM Cost
$15
for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$6
Estimated ATM Cost
Estimated ATM Cost
$15
for AU $300 withdrawal

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$15,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$15,000
Eligibility conditions
Eligibility conditions

Perks

  • Extended WarrantyWarranty is extended for the same duration as the original warranty up to 1 year.
  • Purchase Protection
  • Free Supplementary Cards

Features

The ANZ First Student credit card offers a moderately high interest rate. Aimed at students, ANZ will waive the $30 annual fee in the first year, providing an incentive to get new customers through the door.

The ANZ First Student credit card is covered by the ANZ Fraud Money Back Guarantee, which means that you will not be liable for fraudulent transactions made on this card, provided that you did not contribute to the transaction and notified ANZ promptly. This credit card also offers additional 90 Day Purchase Security and Extended Warranty insurance, providing an extra security blanket for cardholders.

Up to three additional cardholders can also be added at no additional cost. Like most new credit cards, Visa payWave is also included, so that cardholders can ‘tap and go’ without entering a PIN for purchases under $100.

Pros
  • Annual fee waived in the first year
  • Complimentary shopping insurance
  • Free Visa Entertainment membership
Cons
  • Annual fee after the first year
  • Moderately high interest rate
  • No frequent flyer rewards

 

Who is it good for?

As the name implies, the the ANZ First Student credit card is marketed as a first credit card for students, who may or may not have held credit card before. The card is available only to full-time tertiary students.

This credit card could be suitable for students who want to make sure their transactions are safe and that they will not be financially liable in the event of fraudulent spend.

The complimentary shopping insurance included may also provide peace of mind for younger cardholders’ first big purchases, making it more appealing to students.

With a moderately high interest rate, the ANZ First Student credit card is more suitable for financially savvy students who will be able to pay their credit card bills on time, and are not in need of cash advances or balance transfers. 

What RateCity says

The ANZ First Student credit card provides some incentives and perks for students and young people, such as complimentary shopping insurance, a free Visa Entertainment membership and the first year with no annual fee.

However, with a moderately high interest rate on purchases, and even higher interest rate on balance transfers and cash advances, first time credit card holders should make sure they do not set themselves up to pay more interest than they can afford when considering this card. It is also worth remembering that cardholders are liable to pay an annual fee after the first year.

With a relatively low minimum income requirement of $15,000, the card is suitable for students who are working part time or casually, but the moderate to high interest rates could quickly make this credit card unaffordable to students in this income bracket.

Applying/eligibility

In order to apply for the ANZ First Student credit card, you must be a full-time tertiary student aged over 18 years old. The minimum income requirement is just $15,000, which can include paid employment, Youth Allowance and Austudy. Non-Australian permanent residents must also be earning at least $15,000 per annum, and have more than nine months remaining on their visa in order to apply for this credit card. 

About the lender

ANZ, less commonly known as Australia and New Zealand Banking Group Limited, is headquartered in Melbourne and is one of Australia’s big four banks. Customers can contact ANZ 24 hours per day, seven days per week to dispute transactions, report a hoax or report a lost or stolen card. With branches available across Australia and New Zealand, as well as online banking, customers have a number of options available when banking with ANZ.

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