- Last updated on 14 Aug 2020
Balance Transfer Rate
Max Free Days
- No Annual Fee
- Free supplementary cards
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
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Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Cash advance fee
Balance Transfer Rate
Balance Transfer Rate
max card limit
Balance Transfer Fee
Foreign Exchange Fee
2.85% on Visa
Estimated ATM Cost
for AU $300 withdrawal
- FREE SUPPLEMENTARY CARDS
Balance Transfer not available
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Bendigo Bank Low Rate Mastercard
for 12 months then $45
Balance Transfer0% on Balance Transfers for 6 months. $0 annual fee in Year 1 then reverts to $45. Get a $150 Woolworths Supermarket Gift Card when you spend $1k in 60 days.
Hume Bank is a customer-owned bank. It was established in 1955 as the Hume Co-Operative Building & Investment Society. After several name changes, the society settled on the name Hume Bank in 2014.
Hume Bank has been a part of the Albury-Wodonga region for over 60 years, and the bank’s branch and ATM operation remain in the area. Currently, Hume Bank employs over 150 staff and serves over 58,000 customers.
The Hume Bank Value Visa credit card has a moderately low interest rate, no annual fee and a moderate interest-free period. It also has a low minimum credit limit and a moderately high maximum credit limit.
Three additional cards are allowed with the Hume Bank Value Visa card at no extra cost. Balance transfers are allowed, but the card does not come with an introductory balance transfer deal.
The Verified by Visa service gives cardholders added security when making online purchases at participating merchants by allowing them to enter a chosen password during the checkout process. Visa PayWave also enables tap-and-go payments in-store.
A foreign exchange fee is applied for any overseas purchases made on the Hume Bank Value Visa card.
There is no complimentary insurance or rewards program associated with this card.
- Moderately low interest rate
- No annual fee
- Three free additional cardholders
- No rewards program
- No complimentary insurance
- No balance transfer offer
Who is it good for?
The Hume Bank Value Visa credit card might be good for people who want a basic credit card without having to worry too much about unnecessary fees or high rates.
With a moderately low interest rate, it could suit people who occasionally need to use a credit card but aren’t always able to clear their monthly debt.
It’s also especially good for couples and other people who want to share an account due to its allowance for three additional cardholders at no extra cost.
Because there is no balance transfer deal associated with the Hume Bank Value Visa credit card, it probably isn’t the best option for people wanting to consolidate existing debt.
It also isn’t particularly suited to people who use a credit card often and pay their bill on time, because it doesn’t offer much in the way of additional perks or benefits for spending.
What RateCity says
This is a well-rounded card that offers most of the benefits you might expect from a standard credit card. The $0 annual fee and moderately low interest rate together mean this might be an attractive option for the typical budget cardholder.
However, this card’s interest rate isn’t the lowest on the market – so it’s worth comparing its benefits against other comparable cards before making a decision.
For example, you might find a card with a slightly higher annual fee or interest rate but more benefits (like a rewards program).
Alternatively, if you really want to cut costs, you could choose a card with a lower interest rate or an introductory 0 per cent interest rate.
Finally, if you’re thinking about switching lenders and still have debt on another card, you may want to shop around for a card with an introductory balance transfer offer.
The eligibility requirements for the Hume Bank Value Visa credit card state that you must be at least 18 years old and an Australian citizen or permanent resident. You also need to be a customer of Hume Bank; or if not, a lending consultant will contact you directly. When you apply online or at a branch, you will be asked to provide proof of ID as well as information about your income, employment and financial standing.
About Hume Bank
Hume Bank, formerly known as Hume Building Society, is a regional mutual financial institution that serves approximately 58,000 customers, primarily in north-eastern Victoria and southern New South Wales. Hume Bank provides personal finance products such as everyday bank accounts, savings accounts, personal loans, home loans and credit cards. Customers can self-manage their banking through the iBank internet banking portal and mobile app, by phoning the bank’s call centre or by visiting a branch.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers 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.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
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.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new 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.
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.
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.
If you’re wondering about how to make a credit card online application, here are some steps to follow:
- Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
- Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
- Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
- Review details. Ensure the information you’ve entered is correct.