How to cut costs on essentials
Ditch the reliance on the credit card and cut down on costs with these tips. It pays to ditch the big-name brands at the supermarket.
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
Balance Transfer Rate
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Interest Free Days
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Duplicate statement fee
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Supplementary card annual fee
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Balance Transfer Rate
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Foreign Exchange Fee
3% on Visa
Estimated ATM Cost
for AU $300 withdrawal
Must have regular income, been in your current job for longer than 6 months and have not had any defaults of any loans, credit cards, interest free finance or store cards in the last 5 years
Australia Citizen, Permanent Resident
Community First Credit Union is owned by its 68,000 members.
It first opened in 1959 to provide financial services to the salaried officers of the metropolitan Water, Sewerage and Drainage Board (Sydney Water).
Since then, Community First Credit Union has expanded to allow members from throughout the country.
Community First Credit Union has 14 branches across Sydney and the Central Coast of NSW.
Members get free access to more than 3,000 rediATMs across Australia.
The Community First Credit Union Low Rate Visa Credit Card offers cardholders a very low ongoing interest rate. This low rate also applies to balance transfers and cash advances.
In addition to the very low interest rate, this card offers a moderate amount of interest-free days, which is comparable to other cards on the market.
This card has a moderately low annual fee and a moderately high late payment fee.
Cardholders who use their Community First card overseas, or to shop online through an international retailer, will have to pay an international currency conversion fee of 3 per cent.
While this card doesn’t have a rewards program, cardholders can get access to pre-sale tickets and exclusive offers through Visa Entertainment – a complimentary service offered to Visa cardholders.
Cardholders are covered by Visa’s Zero Liability, which means you’re not held responsible for fraudulent or unauthorised transactions.
The Community First Credit Union Low Rate Visa Credit Card is a no-frills card that may suit customers looking to cut costs and save money.
Much like other low-rate cards, this Community First card isn’t linked to any frequent flyer or rewards program and doesn’t have added features like complimentary insurance or concierge service.
The Community First Credit Union Low Rate Visa Credit Card may suit those looking for a simple, cost-effective card that’s easy to manage and gives you the potential to pay off your balance.
If you’re not in the habit of paying off your monthly balance in full, opting for a low-rate card like the Community First Visa card could help you save.
Those looking to consolidate debt via a balance transfer may be better suited to a low-rate card that offers a 0 per cent balance transfer promotion.
The Community First Credit Union Low Rate Visa Credit Card is a competitive low-rate card that gives cardholders access to a very low interest rate which is standardised across purchases, balance transfers and cash advances.
This no-frills card is best suited to those customers who carry a balance forward each month. To avoid unnecessary interest charges, it’s always recommended that you pay your monthly balance in full. While the balance transfer rate is low, this card doesn’t offer a promotional incentive.
Cardholders looking for extra peace of mind will be covered against fraudulent or unauthorised transactions with Visa’s Zero Liability Policy.
High international conversion fees apply to any purchases made in a foreign currency, including transactions made online with an international retailer.
Cardholders who spend regularly and always pay their balance in full each month may be better off comparing low-rate cards that offer rewards or frequent flyer points.
To be eligible for the Community First Credit Union Low Rate Visa Credit Card you’ll need to be 18 years or older and be an Australian citizen or resident. You’ll need to show that you’ve been employed for at least three months, provide proof of income and proof of ID. This card requires a good credit rating. Applications can be made online, over the phone or by visiting a branch.
Community First Credit Union Limited has been operating since 1959. Being a mutual organisation means that the credit union is owned and run for the benefit of its members and community, and not for external shareholders. With 15 branches, Community First Credit Union Limited is considered one of the largest community-based credit unions across the Sydney and Central Coast region. Community First Credit Union customers can contact the credit union via phone, online or in store.
Nick Bendel was a property and personal finance editor, covering 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 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.
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.