Visa Credit Card FAQs
- Do I have to be a member to take out a Visa Credit Card?
- What are the minimum and maximum limits?
- How does this card differ from a Visa Debit?
- How does the introductory rate work?
- How can cash be obtained from a credit card?
- How can payments be made to the card?
- What fees and charges apply to the card?
- Can other accounts be accessed through the card?
- How is a balance transfer from another card completed?
- How can I increase my credit limit?
- How does the 55 days interest free work?
- Can I assign an addtional cardholder?
- What happens if my card is lost or stolen?
- How often will I receive information on my account?
- What security is required?
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. ^
The minimum limit is $1,000 and the maximum $10,000, however the maximum limit will be subject by your ability to repay. ^
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. ^
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. ^
Cash can be withdrawn from the credit card in three ways.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. ^
You can arrange to make your card repayments either by payroll deduction, direct debit from your savings or transaction account, Internet or telephone banking transfer, at our Head Office or using Bank@Post. ^
Yes, by setting up our new Dynamic Sweep Facility. ^
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. ^
Limit increases can be made by completing a loan application form. ^
Interest is calculated daily and charged monthly. You do have up to 55 days interest free on purchases made. The amount of day's interest free depends on when in the statement period you have made your purchase. To obtain the full 55 days you would need to purchase on the day after your statement is issued. Statements are issued on the 20th day of each month and repayments are required on the 15th day each month.
If you made a purchase on the 21st of May this would not show on a statement until 20th June (30 days) and would give you until 15th July (25 days) to make the payment (a total of 55 days). ^
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. ^
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. ^
No security is required to take out a Visa Credit Card. ^