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Low Rate Visa Credit Card

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Electronic Wallet Service

Important Rates

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Balance Transfer

Overseas spending

Rewards

Eligibility

  • Free Supplementary Cards

Features

The G&C Mutual Bank Low Rate Visa credit card has a moderately low annual fee, very low interest rates and a moderate number of interest-free days. This card has a high credit limit and no late payment fee. The G&C Mutual Bank Low Rate Visa credit card does not have an associated rewards scheme and does not earn rewards points or frequent flyer miles on purchases.

The G&C Mutual Bank Low Rate Visa credit card offers a balance transfer deal to potential card holders who want to transfer existing debt to a new account. This deal gives card holders 0 per cent interest on their balance transfers for 12 months. After these 12 months have passed, balance transfers are charged the card’s very low standard interest rates.

The G&C Mutual Bank Low Rate Visa credit card can be used anywhere that Visa is accepted. 

Pros
  • Very low interest rates
  • High credit limit
  • No late payment fee
Cons
  • Charges an annual fee
  • No rewards scheme
  • No complimentary insurance

 

Who is it good for?

The G&C Mutual Bank Low Rate Visa credit card may be suitable for budget card holders. Customers who have existing debt can take advantage of the card’s balance transfer deal, which offers 0 per cent interest on balance transfers for the first 12 months. Customers who struggle to pay their credit card bill in full each month will enjoy the very low interest rates and moderate interest-free period.

This card may not be a good fit for rewards-seeking customers. The G&C Mutual Bank Low Rate Visa credit card does not have an associated rewards scheme, which means that customers do not earn points or frequent flyer miles on their purchases. Card holders who want to be compensated for their transactions may be better off with a card that has a rewards program.

What RateCity says

The G&C Mutual Bank Low Rate Visa credit card offers a very low interest rate on purchases, a 12-month balance transfer deal and a moderately low annual fee. These relatively low rates and fees might make this card a suitable choice for budget card holders. Customers who tend to let debt roll over from month to month can save money with the card’s low interest rates, and those who want to transfer existing debt can take advantage of 12 months at 0 per cent interest.

However, this card offers little to customers who pay their entire bill each month. Customers can’t earn points, cash back or frequent flyer benefits on eligible purchases. The card does not offer any complimentary insurance. As such, customers who are confident about clearing their credit card debt each month should might prefer a card that will reward them for their spending.

Applying/eligibility

Applicants can apply for the G&C Mutual Bank Low Rate Visa credit card by online application, over the phone or in a bank branch. To be eligible for the G&C Mutual Bank Low Rate Visa credit card, you must be at least 18 years old, be eligible to work in Australia and have a regular income of at least $20,000 per year. You must have a good credit rating, and you cannot be going through the process of bankruptcy.

About G&C Mutual Bank

G&C Mutual Bank is an Australian member-owned bank. G&C Mutual Bank began in 1959 as the Public Works Department Staff Cooperative. Over their 50-year history, G&C Mutual Bank has gone through 18 mergers with other credit unions, as well as eight name changes before becoming G&C Mutual Bank in 2014. G&C Mutual Bank offers a range of financial products including credit cards, home loans, bank accounts, term deposits and insurance policies.

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