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Our verdict

Save with a 0% interest rate on balance transfers for 12 months and pay no annual fee ever with the Heritage Bank Gold Low Rate credit card.

The Heritage Bank Gold Low Rate credit card combines a competitive interest rate with a $0 annual fee for life. If you have credit card debt you want to pay off, the 0% balance transfer offer gives you a way to save on interest charges for the first 12 months. After that, the card’s 11.8% p.a. variable cash advance rate applies to any remaining debt.

If you plan to use this card for everyday purchases, keep in mind that it doesn’t offer any interest-free days on purchases. But if you usually carry a balance from month-to-month, the low rate for purchases could help you save on interest charges compared to some other cards.

Pros

0% p.a. for 12 months on balance transfers
$0 annual fee
Low interest rate of 11.8% p.a. on purchases and cash advances
Access to Visa Offers + Perks

Cons

No interest-free days on purchases
Charges a 3% foreign transaction fee

When you apply and get approved for the Heritage Bank Gold Low Rate card, you will get 0% p.a. for the first 12 months on balance transfers that you request as part of your application. You can also save on credit card costs with a $0 annual fee for life.

This Visa credit card also offers the same interest rate for purchases and cash advances. You can also make mobile payments by adding the Heritage Bank Gold Low Rate card to your Google Pay or Samsung Pay account.

Details

Product details

Product Name	Heritage Bank Gold Low Rate Credit Card
Balance transfer rate p.a.	0% for 12 months, then 11.8%
Balance transfer limit	95% of available limit
Purchase rate p.a.	Purchase rate p.a. 11.8%
Interest-free period
Cash advance rate p.a.	11.8%
Min credit limit	$1,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	Annual fee $0
Minimum monthly repayment	3% of the closing balance or $30, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	Foreign currency conversion fee 3%
Cash advance fee	2% or $2.50, whichever is greater
Overseas ATM withdrawal fee	$5
Additional cardholder fee	$7.50

Congratulations, Heritage Bank!

Heritage Bank Gold Low Rate Credit Card received the highly commended award for 'No Annual Fee Credit Card' in the 2024 Product Awards.

Full list of 2024 winners

How to apply

You can apply for the Heritage Bank Gold Low Rate credit card online by filling in a secure application form. Before you get started, make sure you meet the following eligibility criteria and have all the details you'll be asked for when you apply.

Eligibility criteria

Balance transfer debt. If you want to take advantage of a balance transfer promotion, Heritage allows you to transfer from $200 up to 95% of your approved credit limit from up to 4 non-Heritage issued credit cards.
Residency. 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, email address, phone number, residential address, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver's licence number.
Employment details. As well as your income, this covers your job title, length of employment and employer's contact details. You may also need to provide recent payslips or bank statements as supporting documentation.
Financial details. This covers any other forms of income, such as government payments, as well as assets including savings and shares. You also need to provide details of existing loans, cards and debts, along with estimates of your monthly living expenses.
Balance transfer details. The balance transfer offer on this card is only available if you include your request with the application. This means you need to provide details of the amount of debt you want to transfer, as well as the account name, number and the provider's BSB.

Card benefits

No annual fee. The Heritage Bank Gold Low Rate credit card has a $0 annual fee for life, which is very competitive when compared to other low rate cards.
0% p.a. for 12 months on balance transfers. Apply for the Heritage Bank Gold Low Rate and request a balance transfer at the time of your application to take advantage of this offer. At the end of the introductory period, any remaining balance transfer debt will be charged interest at the variable cash advance rate, currently 11.8% p.a.

Same interest rate for all transactions. The low 11.8% p.a. interest rate on this card applies to both purchases and cash advance transactions, which could make it easier for you to calculate interest and budget for repayments.
Visa benefits. Get access to exclusive travel, shopping, dining and entertainment promotions through Visa Offers + Perks. When you shop online, you can also get an added layer of security through the Visa Secure service.
Mobile payments. Heritage Bank credit cards are compatible with Google Pay and Samsung Pay, as well as Garmin Pay and Fitbit Pay. This means you can make on-the-go payments from your mobile phone or other eligible device.

Rates & fees

Interest rate. The 11.8% p.a. interest rate on this card is competitive with those offered on other low rate cards.
Cash advances. If you use this card to withdraw cash, a fee worth 2% of the withdrawal amount (minimum fee of $2.50) applies.

Currency conversion fee. A fee of 3% applies to transactions made overseas or online in a foreign currency.

Sources

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Amy Finder

Editor

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Roy Foster

August 19, 2024

I have a gold heritage Visa card. Does this card gain access to virgin airport lounge in Brisbane and Sydney.

If not, what do I need to access these lounges.

Angus Kidman Finder

September 22, 2024

Hi Roy, The Heritage Gold doesn’t include lounge passes. Credit cards which offer passes to Virgin lounges are quite rare – one example is the Velocity High Flyer. Otherwise, you’ll need to sign up as a Virgin lounge member to access the lounges – which can be worthwhile if you’re a regular traveller but is expensive if you’ll only make a couple of visits. Hope this helps/

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June

December 05, 2023

I need a credit card for $5,000 that I can use the 5k as a cash advance to pay an outstanding debt is this the best card

Amy Bradney-George Finder

December 05, 2023

Hi June,

Using a credit card for a cash advance is typically expensive because you’ll be charged cash advance fee and interest charges straight away. Some lenders also have a daily cash advance limit. For example, Heritage Bank also has a $1,000 daily cash limit for credit card ATM withdrawals or EFTPOS “cash out” transactions. It’s possible to request a change to the limit but important to be aware of it before getting a card specifically for a cash advance. Finder’s guide to credit card cash advances has more details about what to consider. In regards to paying an existing debt, it may also be worth considering a personal loan that’s designed to manage existing debt. I hope this helps.

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Jessica Kate Muller

October 05, 2023

I’m currently on the Disability Support Person and earn a little over 1300$ a fortnight. I want a credit card that has no annual income fee and can be used for cash advances please help me choose?

Amy Bradney-George Finder

October 08, 2023

Hi Jessica,

You can compare credit cards for people on Centrelink in Finder and learn more about the different payments that are accepted, as well as eligibility criteria.

Keep in mind that most credit cards charge a 2-3% fee for cash advances and have a separate cash advance interest rate. While this card has the same interest rate for purchases and cash advances, most cards charge a higher cash advance rate that can be up to around 30%. This is much higher than the rates offered on personal loans, as an example. There are also some no interest loans that may be available for essentials, depending on your circumstances. I hope this helps.

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Greg

August 20, 2016

Hi ,, my wife and i both hold nab credit cards but different accounts ,, id like to move to heritage and consolidate both of our debt onto the one card , is there a way i can do this cheers

May Finder

August 31, 2016

Hi Greg,

Thank you for your inquiry.

In order to conduct a balance transfer from your NAB cards to Heritage Gold Low Rate Credit Card, you’ll need to apply for this card and get approved. Make sure you read the criteria and requirements before applying. Please also note that you can only transfer a total amount up to 95% of the available credit limit of the Heritage Gold Low Rate card.

Cheers,

May

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Heritage Bank Gold Low Rate Credit Card

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Congratulations, Heritage Bank!

How to apply

Eligibility criteria

Required documents

Card benefits

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