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Visa Credit Card FAQs

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Do I have to be a member to take out a Visa Credit Card?

The credit union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore you must be a member prior to your Visa Credit Card being issued. Learn more about membership. ^

What are the minimum and maximum limits?

The minimum limit is $1,000 and the maximum $10,000, however the maximum limit will be subject by your ability to repay. ^

How does this card differ from the Visa Debit?

The Visa Credit Card differs from our Visa Debit attached to an overdraft facility in that it has additional features. The Visa Credit Card offers up to 55 days interest free and a low introductory rate on balance transfers. ^

How does the introductory rate work?

The introductory rate applys to balance transfers for the first six months. The six months begins on the date of approval. At the end of the six month period, the interest rate will revert back to the standard rate at the end of this period. View our interest rates. ^

How can cash be obtained from a credit card?

Cash can be withdrawn from the credit card in three ways. A withdrawal over the counter at one of our branches, a cash advance at a bank or a withdrawal from any ATM that has the Visa logo. ^

How can payments be made to the card?

You can arrange to make your card repayments either by payroll deduction, direct debit from your savings or transaction account, Internet banking transfer, at our Head Office or using Bank@Post. ^

What fees and charges apply to the card?

Credit transactions are free but any cash advances or withdrawals will be included in your monthy transaction limit. View our fees and charges. ^

Can other accounts be accessed through the card?

Yes, by setting up our new Dynamic Sweep Facility. ^

How is a balance transfer from another card completed?

When applying for your Visa Credit Card, please provide the details of any balances that you would like paid to other Credit Cards. When a closure statement has been received from the financial institution - the "honeymoon" rate will be activated. ^

How can I increase my credit limit?

Limit increases can be made by completing a loan application form. ^

How does the 55 days interest free work?

Interest is calculated daily and charged monthly. You do have up to 55 days interest free on purchases made. The amount of days that are interest free depends on when in the statement period you have made your purchase. To obtain the full 55 days interest free you would need to make the purchase on the day after your statement is issued. Statements are issued on the 20th day of each month (in the case of the 20th falling on a weekend the statements are issued on the last working day prior to the 20th) and repayments are due 25 days after the statement is issued.

For example: if you made a purchase on the 21st of May this would not show on your statement until 20th June (30 days) and would give you until 15th July (25 days) bringing it to a total of 55 days interest free.

Any Interest on purchases during the statement period would not be chargeable until after the due date period and will only be charged from this date, see example below-

Jane's credit card statement period runs from 21 June to 20 July and a credit card repayment is due on 15 August. Jane makes a purchase of $600 on day 10 of her statement period. Her outstanding credit card balance at the end of the statement period is $600. On the statement due date (day 55), Jane makes a credit card repayment of $200. The remaining balance of $400 is rolled-over into the next statement period. In Jane's subsequent credit card statement (from the period 21 July to 20 August), Jane is charged interest on the outstanding balance of $400 but only from the previous statement's due date of 15 August (i.e. not from the date of the purchase transaction).

Please note there is no interest free period available for cash advances, all cash advance transactions are charged interest from the day of the transaction.


Can I assign an addtional cardholder?

Up to 3 addtional cards can be issued to any person/s you choose at no additional charge. This person does not have to be a member but they must be added as a signatory to your account and must satisfy the 100 point check identification criteria. Download this form. ^

What happens if my card is lost or stolen?

To report the loss, theft or unauthorised use of your Visa Card, call the Hotline on 1800 648 027, 24 hours a day, 7 days a week or Contact our staff immediately. ^

How often will I receive information on my account?

A statement, which details your account balance, available credit, transactions and payment due, will be issued monthly. In addition, all your account details are available at your fingertips by logging on to Internet Banking. ^

What security is required?

No security is required to take out a Visa Credit Card. ^

How do I cancel my credit card or reduce my limit?

You can reduce your Credit Card limit or cancel your Credit Card at any time. Should you wish to do either of these options please ensure your current outstanding balance is lower than your proposed new limit or to cancel your Credit Card please ensure your outstanding balance is zero and there are no pending transactions. You can request either option by writing to us, calling the branch during normal business hours, or simply by completing our online form and we will be in contact with you within 24 business hours of receiving your request.

Your Credit Card limit reduction or cancellation will be actioned within 2 business days and we will provide you with written confirmation within 30 days.^

Cancel or Reduce my limit

Cancel or Reduce my limit


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