BCU Bank
Get a competitive 13.05% p.a. rate, up to $500 cashback per year, and a low minimum limit of $500. Enjoy up to 52 days interest-free benefits.
The BCU Rewards Credit Card stands out in the Australian market for offering a competitive 13.05% per annum purchase rate. With the potential to earn up to $500 cash back per year on eligible purchases, this credit card balances rewards and affordability. Even better, you only need a minimum credit limit of $500, making it accessible for a broad range of cardholders.
Cardholders enjoy up to 52 days interest-free on purchases if the balance is paid off in full each month. A low minimum repayment of either 3% of the balance or $10 (whichever is higher) also helps to keep monthly financial commitments manageable. Security remains a top priority thanks to Visa’s Zero Liability and Verified by Visa protection, so you can shop with added confidence.
How to Apply for the BCU Rewards Credit Card
To apply for the BCU Rewards Credit Card, you’ll need to prepare some essential documents. First, gather your identification and employment information. Next, apply in person at a BCU branch or call their contact centre. Alternatively, submit an online enquiry and a team member will assist you soon. Prepare details of your income, expenses, assets, and any debts to speed up the process.
Main Pros of This Card
One of the strongest pros of the BCU Rewards Credit Card is its cash back offer on eligible spending, rewarding you for everyday use. Its relatively low purchase interest rate further increases its appeal, especially compared to other rewards cards on the Australian market.
The card’s low credit limit makes it a suitable choice even if you want to keep your credit exposure to a minimum. The convenience of making both local and global purchases, combined with the security features, gives peace of mind no matter where you shop.
Possible Cons to Consider
There is an annual fee of $89, which can outweigh the rewards if your yearly spending is lower. Another limitation is the $500 cap on cashback, potentially restricting earnings for big spenders. Cash advances incur a higher interest rate at 14.80% p.a. This may be a downside if you frequently use your card for this purpose.
Our Verdict
The BCU Rewards Credit Card offers strong value for Australians who spend regularly on their credit card and can benefit from cash back. Its security, global acceptance, and manageable minimum credit limit are appealing. However, consider your annual fee versus potential rewards and spending habits carefully before applying.
