Visa Silver

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Pros:
  • No Annual Fee
Cons:

    Basic

    Card Level
    Card Level
    Standard
    Interest Free Days
    Interest Free Days
    44
    Maximum credit limit
    Maximum credit limit
    $10,000
    Minimum credit limit
    Minimum credit limit
    $1,000
    Minimum repayment dollars
    Minimum repayment dollars
    $20
    Minimum repayment percent
    Minimum repayment percent
    2.5
    Number free supplementary
    Number free supplementary
    1
    Annual Fee
    Annual Fee
    Late Payment Fee
    Late Payment Fee
    $15
    Over limit fee
    Over limit fee
    $9
    Duplicate statement fee
    Duplicate statement fee
    $2
    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
    $10,000
    Minimum credit limit
    Minimum credit limit
    $1,000
    Minimum repayment dollars
    Minimum repayment dollars
    $20
    Minimum repayment percent
    Minimum repayment percent
    2.5
    Number free supplementary
    Number free supplementary
    1
    Annual Fee
    Annual Fee
    Late Payment Fee
    Late Payment Fee
    $15
    Over limit fee
    Over limit fee
    $9
    Duplicate statement fee
    Duplicate statement fee
    $2
    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
    6.99%for 6 months then 11.95%
    Cash advance rate
    Cash advance rate
    11.95%
    Purchase Rate
    Purchase Rate
    6.99%for 6 months then 11.95%
    Cash advance rate
    Cash advance rate
    11.95%

    Balance Transfer

    Balance Transfer Rate
    Balance Transfer Rate
    Transfer Limit
    Transfer Limit
    95%of the chosen credit limit
    Balance Transfer Fee
    Balance Transfer Fee
    $0
    Balance Transfer Rate
    Balance Transfer Rate
    Transfer Limit
    Transfer Limit
    95%of the chosen credit limit
    Balance Transfer Fee
    Balance Transfer Fee
    $0

    Overseas spending

    Foreign Exchange Fee
    Foreign Exchange Fee
    3.65% on Visa
    Overseas charges
    Overseas charges
    $4
    Estimated ATM Cost
    Estimated ATM Cost
    $14.95for AU $300 withdrawal
    Foreign Exchange Fee
    Foreign Exchange Fee
    3.65% on Visa
    Overseas charges
    Overseas charges
    $4
    Estimated ATM Cost
    Estimated ATM Cost
    $14.95for 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
    Eligibility conditions
    Eligibility conditions
    Minimum age
    Minimum age
    18
    Minimum income
    Minimum income
    Eligibility conditions
    Eligibility conditions

    Perks

    • Free Supplementary Cards

    Features

    The BankVic Visa Silver credit card is a low-rate credit card, providing consumers with a credit card alternative with low-to-no fees.

    The BankVic Visa Silver credit card has a very low introductory interest rate for new cardholders in the first six months. After this time, the interest rate on purchases reverts to the standard (but still moderately low) interest rate.

    This credit card also has the added bonus of having no annual fee. Although there are a number of credit cards in the market with this added perk, the BankVic Visa Silver credit card also has one of the lowest interest rates available.

    This is a no-frills credit card, with no additional perks or benefits in the form of rewards points or complimentary insurance products. The BankVic Visa Silver credit card lets its lack of fees and charges do the talking. 

    Pros
    • No annual fee
    • Low introductory interest rate
    • Moderately low standard interest rate
    Cons
    • Moderately low interest-free days
    • No additional perks or benefits
    • High card replacement fee if lost overseas

    Who is it good for?

    The BankVic Visa Silver credit card is firmly a budget credit card, providing a moderate to low interest rate on purchases for new customers. For this reason, this credit card is perhaps most suitable for customers who struggle to pay off their credit cards in full each month, and are looking for a low interest rate to offset some damage.

    Customers with existing credit card debt can also take advantage of the low-to-moderate interest rate and make a balance transfer, especially if the debt is currently accrued on a higher-interest credit card or cards.

    The ability to add an additional cardholder could make this a good ‘occasional use’ credit card for both individuals and couples. However, lovers of perks and rewards should look elsewhere; this credit card’s main selling point is its competitive interest rate and lack of fees and charges.

    What RateCity says

    The BankVic Visa Silver credit card provides a competitively low introductory interest rate, as well as the coveted no annual fee status that can be difficult to find.

    There are a number of credit cards available with no annual fee, and there are also various credit card options with low interest rates. However, the combination of both in the BankVic Visa Silver credit card make this card more of a rarity. If you are looking for a low-rate, no-fee credit card, there are few others currently available that are this competitive.

    The BankVic Visa Silver credit card does provide a moderately low number of interest-free days, so consumers should keep this in mind if considering this card.

    This credit card is best used only in Australia, due to its international transaction fee and high replacement fee if lost or stolen overseas, even in an emergency.

    Applying/eligibility

    You can apply for the BankVic Visa Silver credit card online, over the phone or in person. To be eligible, you must be over 18 years old and meet any other serviceable criteria. With a low to moderate credit limit available, people within most income brackets should meet the income requirements for this credit card. When applying online, make sure to have your employment details, proof of income, asset details and identification on hand.

    About the lender

    BankVic is an Australian member-owned bank founded in 1974. Originally established by Australian police officers as a credit union, today BankVic serves customers in law enforcement, healthcare, public service, and their friends and family. Customers can contact BankVic during both standard and extended business hours. Outside standard business hours, BankVic customers can contact the Visa 24-hour emergency hotline to report lost or stolen cards. BankVic currently employs over 150 employees.

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