Low Rate Visa Credit Card

Compare

Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$80,000
Minimum credit limit
Minimum credit limit
$1,000
Minimum repayment dollars
Minimum repayment dollars
$20
Minimum repayment percent
Minimum repayment percent
2.5
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$30
Late Payment Fee
Late Payment Fee
$25
Over limit fee
Over limit fee
Duplicate statement fee
Duplicate statement fee
$6
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$80,000
Minimum credit limit
Minimum credit limit
$1,000
Minimum repayment dollars
Minimum repayment dollars
$20
Minimum repayment percent
Minimum repayment percent
2.5
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$30
Late Payment Fee
Late Payment Fee
$25
Over limit fee
Over limit fee
Duplicate statement fee
Duplicate statement fee
$6
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
10.49%
Cash advance rate
Cash advance rate
10.49%
Purchase Rate
Purchase Rate
10.49%
Cash advance rate
Cash advance rate
10.49%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
Transfer Limit
Transfer Limit
$80,000max card limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
Transfer Limit
Transfer Limit
$80,000max card limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
2% on Visa
Overseas charges
Overseas charges
$4
Estimated ATM Cost
Estimated ATM Cost
$10for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
2% on Visa
Overseas charges
Overseas charges
$4
Estimated ATM Cost
Estimated ATM Cost
$10for AU $300 withdrawal

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$20,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$20,000
Eligibility conditions
Eligibility conditions

Perks

  • Free Supplementary Cards

Features

The SCU Low Rate Visa Credit Card has a moderately low interest rate, a low annual fee and a moderate interest-free period. It also comes with a low minimum credit limit and a moderately high late payment fee.

Cardholders can take advantage of the Visa Entertainment program, which offers access to events, pre-sale tickets, competitions and more. There is no dedicated rewards program with the SCU Low Rate Visa Credit Card.

One additional cardholder is allowed at no extra cost. Balance transfers are also allowed, but are subject to the cash advance rate.

The SCU Low Rate Visa Credit Card is payWave-enabled, meaning customers can make tap-and-go payments in-store. Customers can also use the Verified by Visa service for online purchases at participating merchants, which provides an additional level of security.

Pros
  • Moderately low interest rate
  • Free additional cardholder
  • Low annual fee
Cons
  • No rewards program
  • Moderately high late payment fee
  • No complimentary insurance 

Who is it good for?

The SCU Low Rate Visa Credit Card may be a good fit for people who want to reduce unnecessary fees and the risk of debt thanks to its moderately low interest rate, low annual fee and low minimum credit limit.

It may also be suitable for couples or others considering a joint account due to its allowance for a free supplementary card.

However, for those with existing debt, the SCU Low Rate Visa Credit Card may not be the right choice as it doesn’t come with a balance transfer deal – meaning interest begins accruing on transferred balances immediately.

This card may also not suit people who plan to use their credit card for most purchases and pay it off in full each month, as it doesn’t offer any rewards-earning potential for spending on eligible transactions.

What RateCity says

Considering this credit card has a moderately low interest rate, a low annual fee and a low minimum credit limit, the SCU Low Rate Visa Credit Card is a good budget card for occasional use.

With a moderate interest-free period, it’s also possible to make purchases on the card without ever having to pay interest (assuming you clear your debt in full every month).

However, for those planning to use a credit card frequently, the SCU Low Rate Visa Credit Card doesn’t offer rewards or perks like complimentary insurance.

As such, if you’re confident you’ll be able to pay off your balance during the interest-free period, it may be worth doing some further research to see if you can find a more comprehensive credit card that offers rewards for spending.

Applying/eligibility

Applications for the SCU Low Rate Visa Credit Card are open to Australian citizens or permanent residents aged 18 years and over who have a regular, permanent income. To apply, you will need to provide details of your employment, income and living expenses, as well as any assets or liabilities you have. If you are new to SCU, you will also need to provide proof of identification. Applications can be completed online or at an SCU branch.

About SCU

SCU (formerly known as Sydney Credit Union) was established in 1963 to provide financial services to City of Sydney Council members and employees. Today, the credit union provides most of the same financial services and products as any major financial institution, including credit cards, bank accounts, loans and insurance products. Customers can self-manage their accounts through SCU’s internet banking portal and mobile app, or get assistance by phone, email and in-branch.

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