Balance Transfer Rate
for 6 months then 17%
Max Free Days
- Balance Transfers Available
- 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
for 6 months then 17%
max card limit
Balance Transfer Fee
Foreign Exchange Fee
3.65% on Visa
Estimated ATM Cost
for AU $300 withdrawal
Individual credit assessment will be done to determine if suitable for card and credit limit on card.
|0.006667 points for $1 spent||Visa||Up to $15k monthly||eligible transactions|
- FREE SUPPLEMENTARY CARDS
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Coastline Credit Union first formed in 1966 on the NSW mid-north coast and was known as the Macleay River County Council Employees Credit Union.
Since then it has grown significantly, changed names and now also accepts members from throughout Australia.
Coastline Credit Union has six branches in New South Wales, which stretch from Taree through to South West Rocks. Customers can use Coastline ATMs, as well as those of Westpac, St George, BankSA and BCU, for free.
Coastline’s assets are worth more than $460 million.
The Coastline Credit Union Visa Rewarder offers cardholders a six-month introductory balance transfer rate of 0 per cent, a moderate amount of interest-free days and a moderately high interest rate.
This credit card does have a moderate annual fee which can be waived if cardholders spend more than $12,000 each year on the card.
The Coastline Credit Union Visa Rewarder lets you earn rewards points on eligible purchases. For every $150 spent, you’ll earn $1 worth of Coastline reward points, which can be used to pay for goods or services anywhere EFTPOS is accepted in Australia.
The maximum number of loyalty points cardholders can earn during each membership month is capped at 15,000 loyalty points.
This card has a moderately high late payment fee and high foreign currency conversion fees.
- Moderate interest rate
- Moderate interest-free period
- Free additional cardholder
- Annual fee charged
- Late payment fee charged
- High overseas spending fees
Who is it good for?
The Coastline Credit Union Visa Rewarder may be suitable for current customers of Coastline Credit Union who are looking to take out a rewards card and consolidate all their banking under one roof.
The high interest rate and fees probably make this card unsuitable for customers looking to cut costs and save. While this card does offer a 0 per cent balance transfer for six months, the standard rate is on the high side, which makes this an expensive option once the promotional period has ended.
The high foreign transaction fees and lack of complimentary insurances make this card less suitable for frequent flyers.
While cardholders can turn their eligible purchases into Coastline Rewards benefits, frequent flyers may find better value in a card that offers complimentary travel insurance and is linked to a frequent flyer program.
What RateCity says
The Coastline Credit Union Visa Rewarder offers little value to those who are not existing Coastline Credit Union customers. The card has a moderate interest-free period which is comparable with other cards on the market.
The Coastline Rewards program offers $1 or every $150 spent on eligible purchases. For cardholders who spend regularly and always pay their entire monthly balance off, there may be other reward cards on the market that offer a higher earn rate.
Frequent flyers won’t benefit much from the card as this card doesn’t offer complimentary insurance and has high foreign transaction charges.
While the six-month, 0 per cent balance transfer deal may be an incentive for those looking to consolidate debt, there wouldn’t be much value once the introductory deal has ended.
It might be worth comparing your options and looking for a card that offers no annual fee with a rewards program.
To be eligible for the Coastline Credit Union Visa Rewarder, you’ll need to be 18 years or older and be an Australian citizen or resident. You will need to provide proof of employment and income and proof of ID. You are not eligible for this card if you have been bankrupt. Applications for the Coastline Credit Union Visa Rewarder can be made online or in branch. Existing Coastline Credit Union customers can access the application through their internet banking.
About Coastline Credit Union
For more than 40 years, Coastline Credit Union has been offering its members access to a range of competitive financial products and services. Unlike traditional banks, Coastline is owned by its members and not its shareholders, which means that profits are reinvested back into the bank and local community. Coastline Credit Union membership is open to any Australian resident. Coastline customers can contact the credit union via phone, online or in one of their six branches.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.
If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.
Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.
When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.