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.