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Visa Credit Card

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Pros and Cons

Pros:
  • No Annual Fee
Cons:

    Basic

    Electronic Wallet Service

    Important Rates

    Rates

    Balance Transfer

    Overseas spending

    Rewards

    Eligibility

    • Free Supplementary Cards

    Features

    The Horizon Bank Visa credit card has no annual fee, no late payment fee and a high credit limit. The card offers a very low introductory interest rate on both purchases and cash advances, which card holders will enjoy for the first five months. After the introductory deal has expired, the card charges a moderately low standard interest rate. This card does not have an associated rewards scheme and does not earn points or frequent flyer miles.

    The card’s very low introductory interest rate applies to both purchases and balance transfers for customers who wish to transfer existing debt.

    The Horizon Bank Visa credit card permits customers to have two additional card holders (age 16 or older) at no extra cost. This card can be used anywhere Visa is accepted.

    Pros
    • Two free additional cardholders
    • No annual fee
    • No late payment fee
    Cons
    • No rewards scheme
    • No complimentary insurance
    • Charges foreign transaction fees

    Who is it good for?

    The Horizon Bank Visa credit card may suit existing Horizon Bank members who require relatively low interest rates. This card charges a very low introductory interest rate for five months from the date the application is approved. Following the introductory rate, the Horizon Bank Visa credit card charges a moderately low standard interest rate, which may help budget card holders save money if they allow their debt to roll over from month to month.

    This card is not particularly beneficial for rewards-seeking card holders. The Horizon Bank Visa credit card does not have an associated rewards scheme, does not earn reward points and does not receive frequent flyer miles. Customers who wish to be compensated for their eligible purchases should consider a card with a rewards scheme that suits their preferences. 

    What RateCity says

    The Horizon Bank Visa credit card charges reasonable standard interest rates, offers a low introductory rate and has no annual fee. These rates and fees could make this card a sensible choice for Horizon Bank members who struggle to pay their credit card bill in full each month.

    The card’s introductory rate also applies to balance transfers for those who wish to transfer existing debt. However, there are cards on the market that offer 0 per cent interest on balance transfers for a number of months. Budget card holders should consider which balance transfer offer suits them best.

    The Horizon Bank Visa credit card offers few advantages for those who do not require low interest rates. Card holders do not have the opportunity to earn rewards, nor does the card provide any complimentary travel or purchase insurance.

    Applying/eligibility

    To be eligible for the Horizon Bank Visa credit card, you must be at least 18 years old. You must be a citizen or permanent resident of Australia and be currently employed or have a regular income. Those who have declared bankruptcy or insolvency are not eligible. You may not have had defaults on loans, credit cards or store cards in the last five years. Customers can apply online or over the phone. 

    About Horizon Bank

    Horizon Bank, initially called the Illawarra County Council Staff Credit Union, was established in 1964 by the employees of the Illawarra County Council. Since its inception, Horizon Bank has expanded and evolved to offer a wide range of financial products and services to its members. Its offering is comprised of credit cards, investment loans, bank accounts, personal loans, car loans, financial education and a range of insurance policies. Any Australian resident can join Horizon Bank.

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