Easy Street Financial Services

Easy Low Rate Visa Credit Card

Purchase Rate

Purchase Rate

8.99%

Balance Transfer Rate

Balance Transfer Rate

8.99%

Annual Fee

Annual Fee

$40

Max Free Days

Max Free Days

55

Late Payment Fee

$25

Purchase Rate

Purchase Rate

8.99%

Balance Transfer Rate

Balance Transfer Rate

8.99%

Annual Fee

Annual Fee

$40

Max Free Days

Max Free Days

55

Late Payment Fee

$25

Pros and Cons

Pros and Cons

    • No reward program
    • Does not offer free supplementary cards
    • Late payment fee

    Easy Street Financial Services Features and Fees

    Easy Street Financial Services Features and Fees

    Details

    Card Level

    Standard

    Card Type

    Visa

    Interest Free Days

    Interest Free Days

    55

    Minimum monthly repayment

    3% or $20

    Minimum credit limit

    $1k

    Maximum credit limit

    $15k

    Free supplementary cards

    Number free supplementary

    1

    Instant Approval

    Fees

    Annual Fee

    Annual Fee

    $40

    Annual Fee Spend Waiver

    Supplementary card annual fee

    $0

    Late Payment Fee

    $25

    Over limit fee

    Duplicate statement fee

    Electronic Wallet Service

    Important Rates

    Rates

    Purchase Rate

    Purchase Rate

    8.99%

    Cash advance rate

    8.99%

    Cash advance fee

    $0

    Balance Transfer

    Balance Transfer Rate

    Balance Transfer Rate

    8.99%

    Transfer Limit

    $15k

    max card limit

    Balance Transfer Fee

    $0

    Overseas spending

    Foreign Exchange Fee

    3% on Visa

    Overseas charges

    Overseas charges

    $5

    Estimated ATM Cost

    $14

    for AU $300 withdrawal

    Rewards

    Program name

    Rewards Available

    Eligibility

    Minimum age

    18

    Minimum income

    $0

    Eligibility conditions

    Residency

    Pros and Cons

      • No reward program
      • Does not offer free supplementary cards
      • Late payment fee

      Easy Street Financial Services Features and Fees

      Details

      Card Level

      Standard

      Card Type

      Visa

      Interest Free Days

      Interest Free Days

      55

      Minimum monthly repayment

      3% or $20

      Minimum credit limit

      $1k

      Maximum credit limit

      $15k

      Free supplementary cards

      Number free supplementary

      1

      Instant Approval

      Fees

      Annual Fee

      Annual Fee

      $40

      Annual Fee Spend Waiver

      Supplementary card annual fee

      $0

      Late Payment Fee

      $25

      Over limit fee

      Duplicate statement fee

      Electronic Wallet Service

      Important Rates

      Rates

      Purchase Rate

      Purchase Rate

      8.99%

      Cash advance rate

      8.99%

      Cash advance fee

      $0

      Balance Transfer

      Balance Transfer Rate

      Balance Transfer Rate

      8.99%

      Transfer Limit

      $15k

      max card limit

      Balance Transfer Fee

      $0

      Overseas spending

      Foreign Exchange Fee

      3% on Visa

      Overseas charges

      Overseas charges

      $5

      Estimated ATM Cost

      $14

      for AU $300 withdrawal

      Rewards

      Program name

      Rewards Available

      Eligibility

      Minimum age

      18

      Minimum income

      $0

      Eligibility conditions

      Residency

      FAQs

      How easy is it to get a credit 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.

      What is a credit card?

      A credit card is a payment method which lets you pay for goods and services without using your own money. It’s essentially a short-term loan which lets you borrow the bank’s money to pay for things which you can pay back – potentially with interest – at a later date. Credit cards can also be used to withdraw money from an ATM, which is known as a cash advance. Because you’re borrowing money from a bank, credit cards charge you interest on the money you use (unless you repay the entire debt during the interest-free period). When you apply for a credit card, the bank gives you a credit limit which sets the maximum amount you can borrow using your card. Credit cards are one of the most popular methods of payments and can be a convenient way of paying for goods and services in store, online and all around the globe.

      Can I get a credit card with bad credit?

      Yes, some lenders will provide credit cards to Australians with bad credit scores. It depends on the provider's individual lending criteria and whether you’ve presented your personal finances to show you’re an ‘ideal’ applicant.

      How to pay a credit card

      There are a few ways to pay a credit card bill. These include:

      • BPAY - allows you to safely make credit card payments online.
      • Direct debits - set up an automatic payment from your bank account to pay your credit card bill each month. You can choose how much you want to pay of your credit card bill when you set up the auto payments.
      • In a branch.
      • Via your credit card provider's app.

      What is CVV on a credit card?

      CVV stands for ‘card verification value’, and is also sometimes referred to as a CVC or card verification code.

      A CVV code is usually needed when the card is used online or over the phone as an anti-fraud measure. Without the cardholder being physically present to sign or verify the purchase, the CVV provides an extra layer of protection. 

      If you’re using Mastercard or Visa, the CVV is the three digits located on the back of the card. If you’re using an American Express, the CVV is usually four digits and is on the front of the card.

      How do you use credit cards?

      A credit card can be an easy way to make purchases online, in person or over the phone. When used properly, a credit card can even help you manage your cash flow. But before applying for a credit card, it’s good to know how they work. A credit card is essentially a personal line of credit which lets you buy things and pay for them later. As a card holder, you’ll be given a credit limit and (potentially) charged interest on the money the bank lends you. At the end of each billing period, the bank will send you a statement which shows your outstanding balance and the minimum amount you need to pay back. If you don’t pay back the full balance amount, the bank will begin charging you interest.

      How do you cancel a credit card?

      It’s important to cancel your old cards to avoid any additional fees. Unless you’re doing a balance transfer, you’ll need to pay the outstanding balance before you cancel your credit card. If you’ve opted for a card with reward points, make sure you redeem or transfer the points before you close your account. To avoid any bounced payments and save yourself an admin headache, redirect all your direct debits to a new card or account. Once you’ve done all the preparation, call your bank or credit card provider to get the cancellation underway. Once you receive a confirmation letter, destroy your card and make sure the numbers aren’t legible.

      How do you use a credit card?

      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.

      What should you do when you lose your credit card?

      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.

      How do you apply for a credit card?

      You can apply for a credit card online, over the phone or in person at the bank. Once you’ve compared the current credit card offers, the application process is quick and easy. Before you get your application started, you’ll need to gather your personal information like proof of ID, payslips and bank statements, proof of employment and details of your income, assets and liabilities. To be eligible for a credit card, you’ll need to be an Australian citizen over 18 and earn a minimum of $15,000 each year. Once you’ve applied for a credit card, you should get a response fairly instantly. If your credit card application has been approved, you should receive a welcome pack with your new credit card within 10-15 days.

      Where can I get a credit 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.

      Should I get a credit card?

      Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

      How do you pay off credit cards?

      The best way to pay off a credit card bill is to set a realistic spending budget and stick to it. Each month, you’ll get a credit card statement detailing how much you owe and how long it will take to pay off the balance by making minimum repayments. If you only make the minimum repayments, it will take you years to pay off your outstanding balance and add extra costs in interest charges. To avoid any extra charges, you should pay the entire bill. 

      Are there credit cards for students?

      Yes, there are credit cards available with students in mind. These can help young Australians to build their credit report and learn crucial life skills around budgeting and managing personal finances.

      What should you do if your credit card is compromised?

      Credit card fraud is a serious problem. If your credit card is compromised and you’re wondering what to do, here are a few precautionary steps to take.

      Contact you credit provider – Get in touch will your credit card provider. If you feel your card has been compromised, you should be able to lock or block it.

      Monitor your accounts – Keep an eye on your credit card accounts. Any unauthorised transactions could be a sign your credit card has been compromised.

      Check your credit rating – It’s also important to check your credit rating, to ensure you’re not a victim of identity theft or some other financial mischief.

      How do credit cards work?

      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.

      Which credit card has the highest annual percentage rate?

      The credit card market changes all the time, so the credit card with the highest annual percentage rate is also liable to change.

      Keep in mind that credit card interest rates are expressed as a yearly rate, or annual percentage rate (APR). A low APR is generally good but also consider:

      • There can be different APR's for each feature of the card (e.g. purchases may have an APR of 14 per cent, while cash advances on same card could have an APR of 17 per cent.
      • Credit cards with a variable rate can change throughout the year, affecting your APR, so check the full details.
      • If you pay your balance in full every month, having the lowest APR is not as important as the other fees associated with the card. However, if you carry a balance from month to month, then you want the lowest APR possible.

      What's the best credit card for rewards?

      There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice. 

      Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward. 

      How do I apply for a credit card online?

      How to get a new credit card

      To get a new credit card, generally you need to be at least 18 years old and have a good credit rating. You don’t need to be an Australian citizen. Usually you can apply online or in person at a branch of the card issuer. You’ll typically have to supply information like:

      • Your income and living costs (e.g. rent/mortgage, loan repayments, living expenses)
      • Your employer’s contact details
      • Details of your assets and any debts you are paying off