Pros and Cons
- No Annual Fee
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The UniBank Visa credit card has no annual fee, a low late payment fee and a high credit limit. This card provides a very low introductory interest rate for the first six months, followed by moderately low standard interest rates and a moderate number of interest-free days. This card does not have an associated rewards scheme.
The UniBank Visa credit card offers several layers of security, such as secure chip card technology. The card also employs Visa’s Zero Liability policy, which means card holders are not held responsible for unauthorised or fraudulent transactions made on the card. Customers are also able to call a 24-hour hotline for lost or stolen cards.
Card holders can make fast and convenient payments up to $100 with Visa payWave. This card is also compatible with Google Pay, Samsung Pay and Apple Pay.
- No annual fee
- High credit limit
- Very low introductory interest rate
- No rewards scheme
- No frequent flyer points
- No complimentary insurance
Who is it good for?
The Unibank Visa credit card might be suitable for budget card holders who are not confident about paying their credit card bill in full each month. These customers will enjoy six months with very low introductory interest rates. When the offer has expired, card holders will still be charged a moderately low rate. Card holders can also take advantage of the moderate interest-free period.
This credit card is not well-suited to customers who are looking to receive rewards for their spending. The card does not have an associated rewards scheme, so customers are not able to earn points or miles on eligible purchases. Potential card holders in search of credit card rewards may be better suited to a card that maintains reasonable fees but offers a rewards program as well.
What RateCity says
The UniBank Visa credit card provides a no-fee card with moderately low interest rates. This card may be a reasonable choice for UniBank members who want a simple credit card, but don’t always clear their credit card debt each month. Budget card holders can also take advantage of six months at a very low interest rate, which may help some customers take control of their debt.
While this card is sensible for budget card holders, it offers few benefits for those who spend regularly on their card and pay their bill in full each month. The card does not allow customers to earn points or frequent flyer miles on their purchases, which may deter high spenders who have the potential for high earnings within a reward scheme. Those who spend regularly and are confident about paying in full should consider looking elsewhere.
To be eligible for the UniBank Visa credit card, you must be a member of UniBank. Non-members can easily join when they apply for the card. You must be at least 18 years old to apply. Card holders can apply in just 15 minutes through a secure online portal. When applying, you’ll need to provide photo ID, such as a passport, as well as details on your income and expenses.
UniBank is an Australian customer-owned institution focused on staff and students in the university sector. UniBank was founded in 1964 as the University Staff Credit Society Limited. When the University Staff Credit Society Limited merged with Teachers Mutual Bank, UniBank was born. UniBank provides their customers with an array of financial products including bank accounts, credit cards, home loans, personal loans, insurance and financial planning. UniBank also offers travel services such as overseas money transfers and foreign cash.
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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.