Low Rate Visa Credit Card
Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
Balance Transfer Rate
Max Free Days
- No Annual Fee
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
Balance Transfer Fee
Foreign Exchange Fee
3% on Visa
Estimated ATM Cost
for AU $300 withdrawal
Australia Citizen, Permanent Resident
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Northern Inland Credit Union is a member-owned mutual financial institution. Northern Inland is based in Tamworth, New South Wales, but the credit union serves customers across Australia. Northern Inland Credit Union operates three bank branches throughout New South Wales. Customers who do not live near a branch or office can contact Northern Inland Credit Union by phone or email.
To become a member of Northern Inland Credit Union, you must be an Australian resident.
As the name suggests, Northern Inland Credit Union’s Low Rate Visa credit card comes with a very low interest rate on both purchases and cash advances: a feature which can potentially help you minimise repayments on your credit card bill.
The card also features no annual fee and a low late fee compared to market rates. Cardholders have access to Visa Entertainment: a membership program that offers Visa users special offers such as the chance to book concert and theatre tickets before they go on general release, see movie previews and access offers on movies, books, CDs and home entertainment products.
Northern Inland Credit Union has a range of basic services such as eftpos, Bpay, automatic transfer, mobile banking and a choice between receiving electronic and paper statements. Its members can access fee-free ATMs through the rediATM network, which has over 3,000 ATMs around Australia.
- Very low interest rate
- No annual fee
- Widespread ATM network
- No rewards program
- No interest-free period
- No complimentary insurances
Who is it good for?
The Northern Inland Credit Union Low Rate Visa credit card may be a good fit if you are keen to save money on charges and fees, as this card comes with no annual fee and a low charge for late payments. It may also be a good option if you tend to keep your credit card debt rolling from month to month, as the low interest rate is quite competitive compared to other cards on the market.
On the other hand, this card does not have an interest-free period on repayments: a potential downside if you like to clear your credit card each month to avoid paying interest. It also doesn’t come with a rewards program; if the ability to earn points towards discounts is what you’re after, it may be worth shopping around for a different product.
What RateCity says
The main benefit of this card is the financial savings it offers, especially if you are the kind of spender who struggles to pay their credit card bill on time. Having no annual fee will save you money on extra charges, while the low interest rate will keep your repayments under control – provided you pay a minimum amount each cycle. Not doing so will incur a small fee, as will exceeding your credit limit.
Northern Inland Credit Union is a member-owned financial institution, which means that once you sign on as a member, you have a right to vote at the union’s annual general meetings for the election of board members. This may appeal to those who prefer to bank with a smaller institution where you get some say in how things are run, rather than one of the big four banks.
For details on the serviceability criteria for the Low Rate Visa credit card, get in touch with Northern Inland Credit Union. You can also begin the application process for this credit card online. Just make sure you have your ID and financial documents handy; you may need your rent receipt, rates notice, pay slips, your previous year’s group certificate, superannuation statement and bank statements with other financial institutions from the last three months.
About Northern Inland Credit Union
Northern Inland Credit Union is a member-owned mutual financial institution. It is locally owned and operated from the union’s head office in Tamworth, NSW, with an ATM network across Australia. Northern Inland Credit Union offers a full suite of banking products, such as credit cards, home loans, savings accounts and self-managed superannuation accounts, as well as online banking services. The credit union is regulated by the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission.
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers: Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14. The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid. Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express 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.