Low Rate Card

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Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
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
4
Annual Fee
Annual Fee
$0
for 12 months then $49
Late Payment Fee
Late Payment Fee
$0
Over limit fee
Over limit fee
$0
Duplicate statement fee
Duplicate statement fee
$2
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
No set max
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
4
Annual Fee
Annual Fee
$0
for 12 months then $49
Late Payment Fee
Late Payment Fee
$0
Over limit fee
Over limit fee
$0
Duplicate statement fee
Duplicate statement fee
$2
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
11.99%
Cash advance rate
Cash advance rate
20.49%
Purchase Rate
Purchase Rate
11.99%
Cash advance rate
Cash advance rate
20.49%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 9 months then 11.99%
Transfer Limit
Transfer Limit
No set max
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
0%
for 9 months then 11.99%
Transfer Limit
Transfer Limit
No set max
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$3.5
Estimated ATM Cost
Estimated ATM Cost
$12.5
for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$3.5
Estimated ATM Cost
Estimated ATM Cost
$12.5
for 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
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions

Perks

  • Free Supplementary Cards

Features

The Summerland Credit Union Low Rate Visa credit card offers a moderately low interest rate with a moderate number of interest-free days for a moderately low annual fee.

An introductory 0 per cent interest rate on balance transfers is available. After this time the cash advance interest rate applies, which is high.

There is no transfer fee applied to balance transfers.

One additional cardholder can be included on the primary account free of charge. This person must be at least 16 years old.

As a Visa cardholder, you could sign up to Visa Entertainment, which provides access to ticket pre-sales, special offers and competitions.

This credit card enjoys the fraud and security protections of Visa’s Zero Liability policy and

Visa Checkout. Contactless transactions less than $100 are supported by Visa payWave. 

Pros
  • 0 per cent balance transfers
  • No late payment fee
  • No balance transfer fee
Cons
  • No rewards
  • High interest rate for cash advances
  • Annual fee charged

Who is it good for?

If you want a basic credit card for everyday use, the Summerland Credit Union Low Rate Visa might suit your needs.

This credit card doesn’t offer a rewards or points program and has no additional benefits other than a moderately low interest rate for purchases.

The annual fee is moderately low, however the interest rate on cash advances is high. The interest-free period on purchases does not apply to cash advances.

It may appeal to you if you’re an existing Summerland Credit Union customer, as you could manage all of your banking and finances from the one online banking facility.

There is no transfer fee charged for balance transfers, and a 0 per cent interest rate is applied to balances for a limited time. 

The Summerland Credit Union Low Rate Visa has a minimal number of fees to manage. 

What RateCity says

This credit card has few fees and fringe benefits. But it might tick all the right boxes if you’re someone who wants a credit card that’s easy to manage.

The interest rate for purchases is moderately low, however the interest rate for cash advances is high.

While the card offers 0 per cent interest on balance transfers, the rate reverts to the cash advance rate once the introductory period has lapsed.

Only one additional cardholder can be included on the primary account, and no annual fee applies for this service.

The Summerland Credit Union Low Rate Visa credit card doesn’t offer the lowest rates on the market.

Its appeal as a budget-friendly credit card is limited only by the high cash advance rate, which is something balance transfer customers might want to consider. 

Applying/eligibility

To be eligible for a Summerland Coast Credit Low Rate Visa credit card, you must be at least 18 years old. You must be an Australian citizen or permanent resident. You will need to provide evidence of paid employment. Information to have on-hand for your application includes evidence of income, assets and liabilities. You can apply online, over the phone or in a branch. Acceptable forms of identification include a driver’s licence, Medicare card or passport. 

About Summerland Credit Union

Summerland Credit Union, a division of Summerland Financial Services, is a customer-owned business that was founded in 1964. It offers a range of personal and business banking and financial services. The board is responsible for the corporate governance of the credit union. The Summerland Credit Union holds a banking licence under which all customer deposits and investments are protected by the federal government guarantee. It adheres to the Customer Owned Banking Code of Practice.

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