BCU Bank offers credit cards for those who want to keep things simple and those who value rewards.
The bank's Classic Credit Card is a Visa card that carries a fairly competitive interest rate for purchases and balance transfers, and comes with a low annual fee.
Cardholders of Rewards Credit Card, on the other hand, earn up to $500 cashback on eligible purchases per financial year.
Both credit cards come with a low minimum limit - currently $500 - and up to 52 days' interest-free on purchases. This is slightly lower than the customary 55 days but higher than other products, too. They can be used at any merchants around the world where Visa is accepted.
Key Features of BCU Bank Credit Cards
Classic Credit Card |
Rewards Credit Card |
|
Minimum credit limit |
$500 |
$500 |
Maximum credit limit |
$100,000 |
$100,000 |
Minimum monthly repayment |
3% of the closing balance or $10, whichever is greater |
3% of the closing balance or $10, whichever is greater |
Interest-free period |
Up to 52 days on purchases only |
Up to 52 days on purchases only |
Annual fee |
$45 |
$89 |
Rewards |
N/A |
Up to $500 cashback per financial year |
Contactless payment |
Visa and digital wallet (Apple Pay, Google Pay, etc.) |
Visa and digital wallet (Apple Pay, Google Pay, etc.) |
Security |
Visa Zero Liability Protection |
Visa Zero Liability Protection |
These are correct at the time of writing and are subject to change.
BCU Bank Credit Card Fees
In addition to the annual fees, cardholders of BCU Bank credit cards may be charged the following, depending on the transactions involved and services required:
-
Cash advance fee: $5 (domestic & overseas)
-
Card replacement fee: $10 (standard)
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Late payment fee: $5
-
Visa chargeback request fee: $25
-
Currency conversion fee: 3% of the transaction's value in AUD
Other charges may apply.
How to Apply for a Credit Card with BCU Bank
Interested customers can apply for a BCU credit card over the phone or in person at any of the bank's branches.
To be eligible, you must:
-
Be at least 18 years old
-
Have a stable and verifiable source of income
-
Meet the bank's credit assessment requirements
BCU Bank requires the following details and supporting documents:
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Proof of identification - passport, driver's licence, or other primary ID
-
Employment details - contact details of current employer and previous employer, if current is less than two years
-
Income details - recent payslips for employed; tax assessments for self-employed
-
List of assets - savings accounts, properties, investments, etc.
-
List of liabilities - other existing debts
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Ongoing expenses - rent, food, medical costs, etc.
A good credit history is required for approval, which means applicants must agree to a credit check when applying for a credit card with the bank.