Max Free Days
Number free supplementary
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 Fee
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
- Free Supplementary Cards
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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 McGrath Pink Visa credit card has a very low interest rate on purchases, cash advances and balance transfers. There is a moderate interest-free period (providing the balance is paid in full each month) and a moderately high late repayment fee. The card does not have an associated rewards scheme.
The card also has a moderately low annual fee, and half of that fee is donated to the McGrath Foundation in each year the card is held.
Cardholders are given easy access to their account via internet banking and a smartphone app. An additional cardholder may be added for free.
Up-to-date security is provided in the form of smart chip protection, payWave ($100 limit per transaction and $200 limit per day), Visa Zero Liability and Verified by Visa for online purchases.
- Annual donation to McGrath Foundation
- Very low interest rate
- Free additional cardholder
- No rewards plan or extras
- No complimentary insurances
- Moderately high late repayment fee
Who is it good for?
This no-frills card is aimed at people who don’t care about rewards schemes or accumulating bonus points, but just want a basic, low-cost credit card for everyday use. It offers a competitive rate on interest, cash advances and balance transfers. The annual fee, while not the lowest around, is still moderately low. However, half of that fee is donated to the McGrath Foundation.
The foundation has a high profile through Australian cricket and its other initiatives. The credit card is also aimed at anyone who may be, or has been, affected by breast cancer, or is aware of the foundation and simply wants to help a worthy cause.
The McGrath Pink Visa card doesn’t come with any points or rewards scheme. So if you travel frequently and want a card that helps you earn bonus points, then there are definitely better cards out there with rewards schemes attached.
What RateCity says
The Community First Credit Union McGrath Pink Visa card is one of the few charity credit cards in Australia, and the only one currently donating to breast cancer research. The money raised goes towards the placement of nurses who support women with breast cancer and their families.
However, this card is also competitive with its rates almost across the board, making a strong showing with its very competitive interest rate on purchases, cash advances and balance transfers. Only the late repayment fee is on the higher side compared to some other cards.
The fact that the card has no rewards program may be a stumbling block for some people, but this card aims to be an inexpensive everyday card with a charitable top spin.
The card has been and awarded by Money and Smart Investor magazines.
To apply for the McGrath Pink Visa credit card, you must be at least 18 years old and either a permanent resident or citizen of Australia. You must have a regular income and been in your current job for at least six months. You cannot be a bankrupt or have defaults on any loans, credit cards, interest-free finance or store cards in the last five years. Applications can be done online, by phone or in person.
About Community First Credit Union
Beginning as a small loans group for Sydney water and sewerage workers, Community First Credit Union eventually merged with other unions and grew its operations. Today, it is the largest community-based credit union operating throughout the Sydney and Central Coast region. Customers can stay in 24/7 contact with customer service representatives through the bank’s phone hotline and online services. Customers can also manage their own finances through the bank’s internet banking portal and mobile app.
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.