Our verdict

Offers a low 7.49% p.a. interest rate on purchases and some Visa benefits, with a $50 annual fee.

The G&C Low Rate Visa Credit Card has one of the lowest ongoing interest rates for purchases on the market. So, if you regularly carry a balance from month to month, this card could help you reduce your costs compared to other options.

There are also some cards that charge 0% interest on purchases for a promotional period, so these could help you avoid interest altogether if you pay your balance off in time. Like most cheap credit cards, the low rates and fees are a trade off for the extra features you’d expect with many premium cards.

Pros

7.49% p.a. interest rate on purchases
Competitive $50 annual fee
Up to 50 days interest free on purchases

Cons

3% international transaction fee
No perks like rewards or complimentary insurance

The G&C Low Rate Visa is suited to people who want to keep their credit card costs down. As well as the very low 7.49% p.a. purchase rate, it offers up to 50 days interest-free if you pay the total balance listed on your statement by the due date. Its annual fee is also similar to other no-frills cards but it doesn't offer the perks you can find on cards with higher annual fees, such as rewards or complimentary insurance.

Details

Product details

Product Name	G&C Mutual Bank Low Rate Visa Credit Card
Purchase rate p.a.	Purchase rate p.a. 7.49%
Interest-free period	Up to 50 days on purchases
Cash advance rate p.a.	15.49%
Min credit limit	$1,000
Max credit limit	$75,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	Annual fee $50
Minimum monthly repayment	3% of the closing balance or $20, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	Foreign currency conversion fee 3%
Cash advance fee	$5
Overseas cash advance fee	$5

How to apply

You can apply for the G&C Mutual Bank Low Rate Visa online through the bank's website. To get started, you’ll meet the eligibility requirements and make sure you have all the details and documents needed for the application.

Eligibility criteria

Residency. You must be an Australian or New Zealand citizen, or an Australian permanent resident.
Employment. You must be eligible to work in Australia and have employment or earn a regular income.

Credit history. You need a good credit score and can't be going through the process of bankruptcy.
Age. You must be at least 18 years old.

Required documents

Personal details. This includes your full name, marital status, number of dependents, email address and contact information. If you’re applying for an additional cardholder, you’ll need to provide their personal details too.
Employment. This includes your employment status and how much you earn before tax.
Finances. You’ll be asked to list your estimated living expenses as well as any existing credit cards, loans or other financial commitments. You’ll also be asked to confirm your assets including any savings or investments.

Card benefits

Low purchase rate. This card's 7.49% p.a. interest rate for purchases is one of the lowest on the Australian credit card market.
Visa perks. You can use your card at millions of locations wherever Visa is accepted, including for contactless payments. It also offers Visa Secure for eligible online purchases and exclusive discounts and deals through Visa Offers and Perks.

Banking app. You can view your transaction history, check account balances and transfer funds on-the-go with the G&C Mutual Bank app.

Rates & fees

Annual fee. The G&C Mutual Bank Low Rate Visa has a $50 annual fee, which is similar to other basic, low rate credit cards.
Cash advances. If you use your card to withdraw cash or make another cash advance transaction, you'll immediately collect the 15.49% p.a. interest rate. You'll also be charged a $5 cash advance fee.

Interest-free days. You can make use of as many as 50 interest-free days on purchases if you pay your account’s closing balance before each due date.
Additional card. You can request an additional card for any relative over 18 years of age. The card will be linked to the same account and you remain liable for all transactions made using this card.
Minimum credit limit. You can apply for a credit limit starting at $1,000.
Visa Checkout. You can use Visa’s digital wallet service and simplify your shopping experience without needing to enter your personal and card details across multiple sites.
PayWave. This credit card is PayWave enabled, so you can use it to make contactless payments for purchases less than $100.
Visa Security. This online service provides additional security when you use your card to shop online.

Sources

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Amy Finder

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noel

October 04, 2024

i aam on old age pension i get about 820 a fortnight can i get avisa card with a 1000 dollar limit

Richard Whitten Finder

October 07, 2024

Hi Noel,

I suggest reaching out to G&C Mutual directly and asking them before you submit an application.

Willow

October 01, 2024

I am wondering if I am eligible for this card. I am over 18 and an Australian resident. I own my own home outright (no mortgage repayments). However, I am unemployed and receiving the Jobseeker Payment. Am I eligible for this, or any other credit card?

Angus Kidman Finder

October 01, 2024

Hi Willow, The eligibility criteria for this card are that you must “be employed or receive regular income”. While Jobseeker is a form of regular income, it’s rare for financial institutions to issue credit cards to people who only have Jobseeker as their income. You’d likely have more luck getting a debit card. Hope this helps.

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Ron

September 04, 2017

We r travelling this Thursday afternoon (6pm) to Perth

We cd use a credit card to satisfy Avis Car rental re excess on insurance

We have not had a credit cad for ?15 years Dont really need one except as above

we are aged pensioners with an investment property & proprietary interest in a building business

Is it possible to get a credit card before we leave on Thursday

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Jonathan

September 04, 2017

Hello Ron,

Thank you for your question.

It usually takes 5-10 working days for your card to be processed and be delivered to you. Therefore, it may already be too late on Thursday.

We recommend instead that you consult our listed insurers to inquire for a quote and policy cover for your needs.

Hope this helps.

Cheers,

Jonathan

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G&C Mutual Bank Low Rate Visa Credit Card

Pros

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Card benefits

Rates & fees

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