First Option Bank Low Rate Visa Credit Card
4.2
Highlights
- Experience a low-interest rate of 10.49% p.a. on purchases.
- Low ongoing annual fee.
- Includes the Environmental Rewards program.
Pros and cons
Pros
Cons
About this credit card
Basics
Card usage
Apple Pay Enabled
Yes
Card Type
Visa
Gambling Transactions Allowed
No
Samsung Pay Enabled
Yes
Eligibility
Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Good
Minimum Income
N/A
Temporary Residents Accepted
No
Additional cardholders
Additional Cardholders
2
Additional Card Fee Ongoing
$7.50
Credit limits
Minimum Credit Limit
$500.00
Maximum Credit Limit
$25,000.00
Repayments
Interest Charged From
Purchase date
Interest Free Period
Up to 45 days on purchases
Minimum Repayment Percentage
3%
Balance transfers
Balance transfer offer
Balance Transfer Rate
10.49%
Balance Transfer Period
N/A
Balance Transfer Fee Percentage
N/A
Balance transfer conditions
Balance Transfer From Personal Loan
No
Balance Transfer Limit Percentage
N/A
Balance Transfer Revert Rate
N/A
Rates, fees, charges
Cash advances
Cash Advance Rate
17.99% p.a.
Cash Advance Fee
$3.00
Cash Advance Fee Percentage
N/A
Cash Advance Fee Threshold
N/A
Purchases
Purchase Rate Introductory Offer
N/A
Purchase Rate Introductory Period
N/A
Purchase Rate Ongoing
10.49% p.a.
Account fees
Annual Fee Initial Year
N/A
Annual Fee Ongoing
$48.00
Dishonour Fee
$0.00
Duplicate Statement Fee
$2.00
Foreign Exchange Fee Percentage
2%
Late Payment Fee
$0.00
Rewards
Rewards program basics
Rewards Program
N/A
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
N/A
Rewards points per $1 spent
Domestic Rewards Points Earn Rate
N/A
Government Rewards Points Earn Rate
N/A
Overseas Rewards Points Earn Rate
N/A
Additional perks
Insurance
Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
No
Cardholder's International Travel Insurance
No
Cardholder's Interstate Flight Inconvenience
No
Cardholder's Personal Item Theft Cover
No
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
No
Cardholder's Refund Protection
No
Cardholder's Transport Accident Insurance
No
Travel and lifestyle
Airport Lounge Access Included
No
Concierge Service Included
No
Complimentary Flight Voucher Included
No
Complimentary QFF Membership Included
N/A
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The basics
- Additional cardholders. First Option Low Rate Visa card lets you add two additional cardholders for free. This allows you to easily share your account with family members, though it will be your responsibility to manage the account and make repayments on time.
- Digital wallets. This card works with Apple Pay and Google Pay, making it more convenient to pay.
- Gambling transactions. First Option Low Rate Visa Credit Card does not allow gambling transactions.
Rewards and benefits
- Complimentary travel insurance. The First Option CU Low Rate Visa Credit Card does not provide cardholders with international travel insurance cover.
- Concierge services. The First Option CU Low Rate Visa Credit Card does not come with a concierge service.
- Insurances. This card comes with repayment insurance and fraud protection.
- Rewards points. This credit card does not have a rewards program.
- Sign up bonus. First Option CU does not offer a sign-up bonus for this card.
Rates and fees
- Annual fee. The annual fee for this card is $48 p.a.
- Balance transfers. There is no introductory balance transfer offer.
- Cash advances. First Option CU Low Rate Visa Credit Card users will be charged 17.99% p.a. for cash advances, with interest accruing immediately from the transaction date.
- Foreign exchange fee. There's a 2% fee for online or overseas transactions in a foreign currency.
- Interest-free period. Get up to 45 days interest-free on purchases (excluding cash advances) when your previous balance is paid in full or you make the minimum required payment.
- Purchases. With no introductory offer running, the standard interest rate applied to purchases carried over is 10.49% p.a. This is lower than average.
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