product logo

Cash Rewards Visa Credit Card

Compare

Basic

Electronic Wallet Service

Important Rates

Rates

Balance Transfer

Overseas spending

Rewards

Eligibility

Earn Rates

RateCard TypeEarnsCondition
1 point for $1 spentVisaUp to $15,000 monthlyeligible transactions
  • Free Supplementary Cards

Features

The First Option Credit Union Cash Rewards Visa credit card has moderate interest rates and a moderate number of interest-free days. This card offers a very low introductory interest rate for six months. Although the card does not charge an annual fee, it does have a moderately low monthly fee. The card does not charge a late payment fee.

The First Option Credit Union Cash Rewards Visa credit card has an associated rewards scheme. Card holders earn points on eligible purchases, which are redeemed for cash back rewards. Customers can earn up to 0.5 per cent cash back on purchases.

This card employs several layers of security to help defend against fraudulent activity. The First Option Credit Union Cash Rewards Visa card uses Verified by Visa to improve online purchasing security and also monitors all card transactions 24/7.

Pros
  • 24/7 fraud monitoring
  • No late payment fee
  • Earns points for cash rewards
Cons
  • Charges a monthly fee
  • No complimentary insurance
  • No frequent flyer points

 

Who is it good for?

The First Option Credit Union Cash Rewards Visa credit card may suit customers who want relatively low rates while earning rewards for their spending. The card has moderate interest rates and a moderate interest-free period, as well as a moderately low monthly fee. In addition, this card allows customers to earn points for cash back rewards.

The First Option Credit Union Cash Rewards Visa credit card may not be the best fit for budget card holders, particularly those who want to transfer existing debt. This card does not offer a specific balance transfer deal, and the moderate interest rates may not be beneficial for budget customers.

This card is also not well suited to customers who want a card that provides travel benefits. The First Option Credit Union Cash Rewards Visa credit card does not earn frequent flyer points or provide complimentary travel insurance.

What RateCity says

The First Option Credit Union Cash Rewards Visa credit card may be a suitable choice for those who want to combine the benefits of a low-rate card and rewards card.

While the card’s interest rates are higher than many low-rate credit cards, customers have the added benefit of an associated rewards scheme. This rewards scheme allows customers to earn points that can be redeemed for cash back. The First Option Credit Union Cash Rewards Visa credit card also charges a lower monthly fee than many other rewards cards on the market.

Although the First Option Credit Union Cash Rewards Visa credit card is a practical card for customers who want the best of both low-rate and rewards cards, it does not provide rewards that suit every customer. Card holders in search of travel benefits should consider a card that offers frequent flyer points. 

Applying/eligibility

Eligible applicants can apply for the First Option Credit Union Cash Rewards Visa credit card through a secure online application. To be eligible, you must be at least 18 years of age, be an Australian citizen or Australian permanent resident, and have a permanent regular income and stable employment. To complete the application, you’ll need to provide proof of income, proof of identity, employment details, and asset and liability information. 

About First Option Credit Union

First Option Credit Union is an Australian member-owned financial institution. Founded in 1965, First Option Credit Union has been serving Australians for over 50 years. They provide a range of financial products and services including credit cards, home loans, investment options, personal loans, bank accounts, superannuation, insurance and more. First Option Credit Union gives customers access to 24/7 internet banking that allows them to better manage their money. Customers can contact First Option by phone, email or online enquiry.

Compare your product with the big 4 banks, or add more products to compare
As seen on