Visa Credit Card
- Last updated on 04 Apr 2020
Balance Transfer Rate
Max Free Days
- Free supplementary cards
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
Balance Transfer Fee
Foreign Exchange Fee
2.5% on Visa
Estimated ATM Cost
for AU $300 withdrawal
457 Visa holder
- FREE SUPPLEMENTARY CARDS
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Bank of Us is Tasmania’s only customer-owned bank. Headquartered in Launceston, it has more than 30,000 customers and operates eight branches across Tasmania. Bank of Us was founded in 1870, making it one of Australia’s oldest financial institutions. Bank of Us customers can access funds through rediATMs across the state.
Bank of Us offers Visa credit cards, which are marketed as a ‘no-frills’ option with low costs. Customers can apply over the phone, in a branch, or online.
The Bank of Us Visa credit card offers a very low interest rate on balance transfers, purchases and cash advances.
For a moderately low annual fee, you could enjoy a moderately high number of interest-free days. There’s no annual fee if you meet the minimum annual spend requirement.
If you’re a Bank of Us member (which is not a prerequisite), you could link this credit card with up to two other accounts, which means all your bank cards are combined in one.
This credit card enjoys the protections offered by Visa, which includes Zero Liability for fraudulent charges or unauthorised purchases.
The card is also Verified by Visa, a free service that provides extra protection when you shop online at participating Verified by Visa merchants.
The Bank of Us provides a smart phone app which lets you manage the Visa from a compatible mobile device.
- Very low interest rates
- Moderately high interest-free days
- Can be linked to a bank card
- Late payment fee
- Available to Tasmanian residents only
- No rewards or points
Who is it good for?
The Bank of Us Visa credit card could appeal if you’re a Tasmanian resident looking for a basic, inexpensive credit card.
While it’s not essential that you reside in Tasmania, the application process for this Visa card requires you to visit a branch in person.
Unless you’re prepared to travel to Tasmania, you might want to keep shopping around for a credit card.
If you are in Tassie and interested, this Visa does offer a budget-friendly credit card alternative.
There’s no rewards or points program available, so if you’re looking to grow points of any kind this card wouldn’t do it for you.
It does provide a low interest rate that’s the same for purchases, cash advances and balance transfers.
The moderately low annual fee is waived if you meet a minimum annual spend.
What RateCity says
If you’re looking for a cheap credit card with a minimal number of fees and charges, the Bank of Us Visa credit card might be suitable.
The catch is that unless you’re an existing member of Bank of Us or live in Tasmania, applying for it might be difficult. This is because the verification process for your identification must be done in person, at a branch, of which there are eight branches located throughout Tasmania. If obtaining one of the cheaper Visa cards on the market is important, you could make it a holiday trip.
For Tasmanians, the Bank of Us Visa card provides a low very interest rate for all transactions. Combined with a moderately high number of interest-free days and few fees to manage, it’s a no-mess, no-fuss credit card solution.
You can apply for the Bank of Us Visa credit card online or in a branch. If you’re not an existing customer, you will need to verify your identification in a branch. To be eligible, you must be at least 18 years old and a permanent resident of Australia. You will need to provide contact details for your current employer and financial details for any current commitments such as a mortgage, credit cards or personal loans.
About Bank of Us
The Bank of Us started life as the Launceston Equitable Building and Investment Society in 1870. In 1988, it merged with the Bass Building Society. The Bank of Us began offering a range of banking products and services under that name in 2017. It is a participant in the Customer Owned Banking Code of Practice. Today, the Bank of Us is Tasmania's only customer-owned bank with more than 30,000 customers, eight branches statewide and more than $700 million in assets.
Looking to get your first credit card? You might be confused as to exactly where to go to apply for one. Here’s where to go when you are ready to put in that application.
The bank: Your bank is a great place to start, provided that you have a good banking history. Since you already have a financial history, you have more chance of your application being approved.
Credit card provider: Another option is to apply for a credit card directly from the issuer, such as Visa, Mastercard or Amex. This will most likely be an online application, so do your research and apply for a suitable card for your circumstances.
Major retailers: Coles, Woolworths, Myer and David Jones all have credit cards available. But watch out for the interest rate and annual fees – these cards are designed to help you spend more in store.
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers. Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14.
The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid.
Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.