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Our verdict

Offers an ongoing $0 annual fee with a 20.99% p.a. purchase rate.

The BankSA No Annual Fee credit card has an ongoing $0 annual fee which can help you cut credit card costs.

This card also charges a high variable purchase interest rate of 20.99% p.a., so if you've transferred a balance, you may want to stick to paying off your balance transfer debt rather than using it to make purchases or accrue additional debt.

Pros

$0 annual fee for the life of the card
Request up to 3 additional cardholders at no extra cost
Shopping cashbacks through ShopBack
Compatible with Apple Pay, Samsung Pay and Google Pay

Cons

Relatively high purchase interest rate of 20.99% p.a.
The interest rate of 21.99% p.a. on cash advances is also high

The BankSA No Annual Fee Card is a no-frills Visa card suited to people who want to save on credit card costs with a $0 annual fee. Plus, you can apply for credit limits starting from $500 up to $40,000.

Details

Product details

Product Name	BankSA No Annual Fee
Balance transfer limit	80% of available limit
Purchase rate p.a.	20.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$500
Max credit limit	$40,000
Card type	Visa

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$0
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	3%
Overseas cash advance fee	3% of each cash advance amount
Additional cardholder fee	$0
Number of additional cardholders	3

How to apply

You can apply for the BankSA No Annual Fee credit card online in 10 minutes and receive a response instantly. Before you get started, check if you meet the eligibility criteria and have the necessary documents to complete the application:

Eligibility criteria

Residency. To apply online, you must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, residential address, contact details, marital status and number of financial independents.
Proof of identification. You'll be asked to verify your identity with an Australian driver's licence, Medicare card, passport, Australian birth certificate or NSW photo card.
Income and employment. Confirm your annual income with recent payslips. You'll also need to include your current place of employment and your employer's contact details.
Finances. List any assets, such as investments or savings and any liabilities like existing debt.

Card benefits

No annual fee. This card charges a $0 p.a. annual fee.
Shopping cashbacks. Eligible BankSA credit card holders can get cashbacks when they shop with their card on the online rewards platform ShopBack.

Flexible credit limits. You can keep your spending in check with a credit limit as low as $500 and it can be as high as $40,000.
Additional cards. You can request up to 3 extra cards for the account. Additional cardholders must be at least 16 years old and the primary account holder is liable for any transactions made with the extra cards.
Mobile payment technology. Make contactless payments with your eligible phone or device by adding this credit card to your Google Pay, Apple Pay or Samsung Pay wallet.

Rates & fees

Purchase interest rate. Your purchases will attract the 20.99% p.a. purchase interest rate.
Interest-free days. When you pay your monthly payment balance in full, which excludes current balance transfers, listed on your statement by the payment due date, you will receive up to 55 days interest-free on new purchases. Note that interest-free days are separate from any longer-term interest rate promotions.

Cash advances. If you use your card for ATM withdrawals and other cash advances, you'll attract the 21.99% p.a. interest rate. You'll also be charged a fee of 3% of each cash advance amount.
Foreign transaction fee. When you use your card to shop overseas or online with an international merchant, you'll be charged a 3% foreign transaction fee.

Sources

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Sally Finder

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Ian

April 24, 2013

can this card be over drawn by someone else like hackers if my limit is $500

Jacob Finder

April 24, 2013

Hi Ian. Technically yes. Generally you can only overdraw your account by a small amount, if at all. If you’re a victim of fraud, you can get your money back under the card scheme’s no liability policies. Thanks for your question. Jacob.

BankSA No Annual Fee Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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