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Our verdict

Save on credit card costs with up to 55 interest-free days and a low interest rate on the BCU Classic Credit Card.

The BCU Classic Credit Card is a no frills credit card that is designed to keep your costs low. If you regularly carry a balance from month to month, the 11.95% purchase rate could help you reduce interest charges compared to other cards. If you tend to pay your balance off each month, you can take advantage of up to 55 interest-free days on purchases. You’ll also pay a low interest rate on cash advances, which could help you cut costs if you regularly use your card to withdraw cash.

Pros

A low variable interest rate of 11.95% p.a. on purchases
Up to 55 days interest-free on purchases
Comes with 24-hour fraud monitoring
No late payment fee

Cons

Charges a 3.65% foreign transaction fee

The BCU Classic Credit Card provides affordable access to credit, with a low variable interest rate for both purchases and cash advances. It also offers worldwide acceptance through the Visa network, interest-free days on purchases and charges a $45 annual fee.

Details

Product details

Product Name	BCU Classic Credit Card
Purchase rate p.a.	11.95%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	14.8%
Min credit limit	$500
Max credit limit	$20,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$45
Minimum monthly repayment	3% of the closing balance or $10, whichever is greater
Late payment fee	$5
Foreign currency conversion fee	3.65%
Overseas ATM withdrawal fee	$1
Additional cardholder fee	$0
Number of additional cardholders	2

How to apply

You can apply for the BCU Classic credit card online and receive approval in as little as 30 minutes. Before you start the application, check if you meet the eligibility requirements and that you have the necessary information to complete the application.

Eligibility criteria

Age. You must be at least 18 years of age.
Residency. You can only apply if you're an Australian citizen or permanent resident.

Credit history. You must not have any outstanding defaults, judgements or be in bankruptcy.

Required documents

Personal information. This includes your full name, date of birth, Australian driver's license number, residential address, email address and phone number.
Employment. Provide details of your current employment status, including your employer's name, contact number and address, as well as your previous employment status.
Finances. This includes your salary and income from any other assets or dividends. You're also required to include information about financial commitments and liabilities, such as mortgage payments, rent, other loans and cards and day-to-day expenses.
Credit limit. You'll need to request for a specific credit limit when you apply. Make sure the limit you request is reasonable based on your income and existing monthly expenses.
Additional cardholder. If you want to add someone else to your account, you'll need to provide personal information, including their name, email and phone number. As the primary cardholder, you will be liable for management of the account.

Card benefits

Competitive interest rates. This card has a low interest rate of 11.95% p.a. on purchases and 14.8% p.a. on cash advances.
Security. Your online purchases will be protected by an additional layer of security thanks to Visa Secure. To keep your account safe from unauthorised transactions, BCU uses 24-hour fraud monitoring services to detect suspicious activity and minimise losses.

Visa payWave. Save time at the checkout with tap-and-go payments that don't require a PIN for purchases under $100.
Additional cardholders. You may nominate up to 2 persons over the age of 16 to be an additional cardholder. Any additional cardholder must also be a member of BCU.

Rates & fees

Annual fee. This card charges a $45 annual fee.
Up to 55 interest-free days. When you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on new purchases.

Foreign transaction fee. If you use your credit card to make payments online or overseas in another currency, you'll be charged a fee worth 3.65% of the total transaction.
Online banking. You can use the BCU iBank service to manage your money from home, work or on-the-go from either a computer or mobile device.

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Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong. See full profile

BCU Classic Credit Card

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Cons

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Eligibility criteria

Required documents

Card benefits

Rates & fees

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