Balance Transfer Rate
for 12 months then 18.99%
for 12 months then $79
Max Free Days
- Balance Transfers Available
- Free supplementary cards
Number free supplementary
Interest Free Days
Interest Free Days
for 12 months then $79
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
for 12 months then 18.99%
max card limit
Balance Transfer Fee
Foreign Exchange Fee
3% on Visa
Estimated ATM Cost
for AU $300 withdrawal
Summerland Cashback Rewards
|1 point for $1 spent||Visa||Up to $100k annually||eligible purchases|
- FREE SUPPLEMENTARY CARDS
Compare and review credit cards with similar features
Summerland Credit Union has been servicing Australians and their banking needs for over 50 years. Founded in 1964, Summerland Credit Union’s members also serve as part owners of this community-based bank.
In addition to credit cards, Summerland Credit Union also offers financial products such as bank accounts, home loans, personal loans, financial planning and insurance.
There are only 10 branches to visit in Australia, so Summerland Credit Union serves mostly as an online bank.
The Summerland Credit Union Rewards Card has a moderately high interest rate, a moderate annual fee (waived for the first year) and no late payment fee. It also has a moderate interest-free period and a low minimum credit limit.
This card’s rewards program – Summerland Cashback Rewards – allows cardholders to earn rewards points for every dollar spent on eligible purchases. Rewards points are converted to cash and credited back to the account every six months.
Balance transfers to this card are subject to a 0 per cent interest rate for an introductory period, after which the balance reverts to the standard interest rate. Four free supplementary cards are also allowed.
With regards to security, customers are covered by Visa’s Zero Liability policy for fraudulent or unauthorised transactions. Visa payWave also enables tap-and-go purchases in-store for transactions under $100.
- Rewards program
- No late payment fee
- Balance transfer offer
- Moderately high interest rate
- High international transaction fees
- No complimentary insurance
Who is it good for?
This card may suit people who want to be rewarded for using a credit card but would rather have cashback credited to their account instead of redeeming gift cards, frequent flyer points and the like.
It may also suit customers who are looking to transfer and pay off existing debt as they can do so without having to pay interest (assuming the balance is paid off during the offer period).
Additionally, the Summerland Credit Union Rewards Card may suit those who want to share an account as it allows free additional cardholders, and therefore increases the rewards-earning potential.
On the other hand, this card isn’t particularly appropriate for frequent travellers as it isn’t compatible with any frequent flyer programs, doesn’t come with complimentary travel insurance and attracts high overseas fees.
This card also isn’t especially suited to those on a strict budget due to its moderately high interest rate.
What RateCity says
The Summerland Credit Union Rewards Card offers some advantages but perhaps not enough to justify its moderately high interest rate.
If you are specifically looking for a credit card that offers cashback in the form of account credit, this card may be a good choice for you. The allowance for free additional cardholders is also nice to have as it allows points to be earned faster.
However, if you’re looking for a general rewards card and aren’t hugely concerned about the interest rate, you may be better off shopping around for a card with a longer list of benefits, like complimentary insurance, a bonus points offer or a more flexible rewards program.
Conversely, if you’re searching for a card that offers value for money, it could be worth doing some additional research to find one with a lower interest rate and comparable fees.
The eligibility requirements for the Summerland Credit Union Rewards Card state that you must be at least 18 years old, an Australian citizen or permanent resident with the right to work and currently in paid employment. As part of the application process, you will need to pass an identity check, and provide information about your employment, income, assets and any outstanding debt you have. You can complete the application form online or at a Summerland Credit Union branch.
About Summerland Credit Union
Summerland Credit Union is a customer-owned credit union established in 1964 and based on the North Coast of New South Wales. The credit union provides banking products such as credit cards, personal loans, home loans, bank accounts and savings accounts, as well as insurance products and various business and community services. Summerland Credit Union offers internet banking services, a mobile banking app, and customer service via phone, email and in-branch (located throughout northern NSW).
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice.
Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.
If you’re wondering about how to make a credit card online application, here are some steps to follow:
- Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
- Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
- Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
- Review details. Ensure the information you’ve entered is correct.