| Feature | Details |
|---|---|
| Purchase Rate | 10.99% p.a. |
| Cash Advance Rate | 10.99% p.a. |
| Interest-Free Period | Up to 55 days |
| Minimum Credit Limit | $500 |
| Annual Fee | $50 (waived if you’re under 25) |
| Balance Transfer Rate | 0% for 12 months* (limited time offer) |
| Additional Cardholders | You can add more cards for free, and your bill will show broken-down purchases. |
| Fraud Protection | Visa’s “Zero Liability” policy shields you from false charges and purchases you didn’t make. |
| Visa Checkout | Enjoy a secure checkout experience |
| Visa Offers & Perks | Special offers on tickets, screenings, and more |
| Secure Online Shopping | Confidently shop online with Visa Secure and EFTPOS Secure |
In Australia, it can be very hard to find the right credit card. There are some other choices, and each has its own features and rewards programmes. It is very important to select a credit card that is good for your buying habits and financial goals. I am giving you an Auswide credit card review, looking at its pros and cons and how well it fits different types of budgets.
What is Auswide Bank Low Rate Visa Credit Card
People who are watching their spending and want a simple credit card with low interest rates and no yearly fee should look at the Auswide credit card. Here is a list of its most important features:
- Interest Rates: The Auswide Low Rate Visa Credit Card’s interest rate is 10.24% p.a. It is very low compared to some other credit cards, which have rates above 15% p.a. This makes it a very good choice for those who expect to carry a balance. So you need to make sure you check Auswide Bank’s website to see what the rate is right now.
- Fee Every Year: The Low Rate Visa Credit Card has a fee every year of $50. You can avoid this fee. If you are under 25 years old or have the Freedom Package, which includes the credit card and a number of other banking goods, Auswide Bank will not charge you a yearly fee.
- Time with no interest: If you pay your amount in full by the due date, you can enjoy up to 55 days of interest-free shopping. During this gap period, you can buy many things without having to pay interest, as long as you make your payments on time.
- Balance Transfer Offer: From June 4, 2024, Auswide Bank will give you a 0% p.a. balance move for the first 12 months. This can be a very useful way to get rid of high-interest credit card debt by combining it with a single card that has a very low interest rate while the offer lasts. And you need to remember that after the first 12 months, you will have to pay interest on the moved amount, so make sure you have a plan to pay it before the rate goes up.
- Extra users: You can also add more users to your account for no extra charge. This can make it very easy to keep track of costs that you and your partner or family members share.
- Visa Benefits: The card comes with too many normal Visa benefits, like protection for purchases and help around the world.
Benefits of Auswide credit card
The Auswide Bank Low Rate Visa Credit Card will be very good for you if:
- You prioritize low fees. The waived annual fee for young adults and Freedom Package holders makes this credit card a good option for those seeking a budget-friendly credit card.
- You value a long interest-free period. The 55-day grace period allows you to manage your repayments effectively and avoid interest charges on everyday purchases.
- You want to consolidate high-interest credit card debt. The 0% balance transfer offer can be a strategic tool to pay existing debt very quickly, provided you have a plan to clear the balance before the introductory period ends.
- You prefer a simple, no-frills credit card: The Low Rate Visa Credit Card does not give you rewards programs or cashback benefits. But this might be ideal if you prioritise too low fees and a straightforward interest rate structure.
Drawbacks of Auswide credit card
The Auswide credit card has some advantages, but it is also very important to think about some possible drawbacks:
- Possible High Interest Rate: The flexible interest rate might not be the lowest compared to some other credit cards on the market, even though it is touted as “low.” Before making a choice, it is very important to check rates.
- No Rewards Programmes: The Low Rate Visa Credit Card does not have any rewards programmes like some other credit cards do, which give cashback or points on purchases.
- Not Many Features: The credit card only does basic things and does not come with extras like trip insurance or extended service coverage that some other cards do.
Eligibility Criteria
Those people who want to apply for the Auswide Low Rate Visa Credit Card must meet some of the following requirements:
- ✓ Be at least 18 years old
- ✓ Be an Australian citizen or permanent resident
- ✓ Have a good credit history
- ✓ Meet the minimum income requirements set by Auswide Bank
Comparing Auswide Low Rate Visa Credit Card with Other Options
It is important to see some other different credit cards before you apply for one that works good for you. These are some of the best credit cards in Australia that you can compare the Auswide credit card to:
Interest Rates
- With an interest rate of 10.24% p.a., the Auswide credit card is a good credit card out there. Some other credit cards have rates above 15% p.a.
Annual Fees
- The card’s $50 annual fee is the same as some other cards in its class. While some low-rate credit cards may save you money on interest, they may come with very high annual fees.
Balance Transfer Offers
- The 0% p.a. offer on credit transfers for 12 months is a good deal that makes it very easy for customers to handle their debt and pay without having to pay more interest.
Interest-Free Period
- Most credit cards give you interest-free periods of up to 55 days. When paired with the low interest rate, this can save you a lot of money if you can pay your amount in full every month.
Rewards and Extras
- The Auswide credit card does not have a points programme, but its low rates and very useful features make up for it.
Conclusion
The Auswide Low Rate Visa Credit Card is a good option for Australians who want a low rate credit card with very useful features and very strong security. It is a very good way to manage your debt and costs because it has low yearly fees, competitive interest rates, and a balance transfer offer. Even though it does not have a points programme, many people will still choose it because it is cheap and very easy to use.
If you want more information or to apply, visit the Auswide Bank website
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