bcu Credit Cards

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bcu is a provider of a range of personal banking and insurance products including credit cards, home loans, home insurance and car insurance. It also provides business banking products.

What credit cards does bcu offer?

At the time of writing, bcu offers two types of credit cards:

  • bcu Classic Credit Card
  • bcu Rewards Credit Card

We have summarised below some of the key features of these credit cards, according to the information available on the bcu website at the time of writing.

bcu Classic Credit Card

bcu Classic Credit Card

Features:

  • Card type: Visa
  • Minimum credit limit: $500
  • Maximum credit limit: $20,000
  • Interest-free days: Up to 55 days interest-free on purchases
  • Annual Fee: This card has an annual fee of $45.00
  • Contactless payments: Contactless payments are enabled with Visa payWave for purchases under $100
  • Online and mobile banking: Online banking is available via the mobile app, bcu Connect,and on the website using bcu iBank
  • Security: This card protected by 24/7 fraud monitoring

bcu Rewards Credit Cardbcu Rewards Credit Card

Features:

  • Card type: Visa
  • Minimum credit limit: $500
  • Maximum credit limit: $20,000
  • Annual fee: This card has an annual fee of $89.00
  • Interest-free days: Up to 55 days interest-free
  • Contactless payments: Contactless payments are enabled with Visa payWave for purchases under $100
  • Online and mobile banking: Online banking is available  through iBank on the website or bcu Connect which is bcu’s mobile app
  • Security: This card is protected by 24/7 fraud monitoring
  • Rewards program: This card offers cash back rewards on eligible purchases. At the time of writing, every Australian dollar spent using your bcu Rewards credit card on eligible transactions earns you 0.66% cash back.

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bcu Credit Cards FAQs

To apply for any of the bcu credit cards, you must be:

  • At least 18 years old
  • An Australian citizen or permanent resident
  • Have no outstanding defaults (missed or late payments on credit cards, loans, or other debts)

First, check whether you are eligible to apply for a bcu credit card. See above for the eligibility requirements.

If you meet the eligibility requirements and would like to apply, you can contact bcu over the phone, via email or by visiting a bcu branch for assistance. bcu says that a fully complete in store application may take as little as 30 minutes to be approved.

You will need to activate your bcu card before you can make purchases with it. Follow the instructions that come with your bcu credit card when it arrives.

As soon as you activate the card, you are agreeing to the terms and conditions of bcu’s credit card agreement. A bcu credit card must be activated within 30 days from the disclosure date set out in your letter of offer, if not your card will be cancelled.

You can manage your bcu credit card through online banking or using bcu Connect, the mobile banking app. 

bcu’s mobile app is available for both iOS and Android and allows you to make payments, view interest earned, review your transaction history, and more. bcu’s online banking is called iBank and can be accessed from the bcu website.

When interest is charged

Interest is charged on purchases when you carry a balance on your bcu credit card. Interest is charged on cash advances from the date of withdrawal, and other fees and charges may apply to cash advances. Interest is also charged on balance transfers (subject to the balance transfer promotional interest rate period).

Interest is calculated from the posting date on all transactions when you carry a balance on your bcu credit card.

When interest is not charged

Up to 55 interest-free days apply to bcu credit card purchases if you have paid the balance in full for the previous month’s statement and for the current month’s statement. 

Your credit limit for a bcu credit card will be determined based on the information you provide in your application, keeping in mind the minimum and maximum credit limit listed above for each card. 

bcu will make funds available to you up to your chosen credit limit, and it reserves the right to reduce the maximum limit at any time. You can ask to have your credit limit decreased or increased at any time by contacting bcu, noting that bcu is not obliged to change your limit.

If you wish to close your bcu credit card account, contact bcu to arrange this. You will then need to cut the card in half and return it to them for security purposes. 

Your card balance will need to be repaid in full even after the card is closed, and you will continue to receive monthly statements until your card balance is fully repaid.

If you’re closing your credit card account because you aren’t happy with it, then consider your other options when it comes to credit cards:

Founded in the 1970s as the Bananacoast Community Credit Union, it became bcu after a merger between the credit union and Police & Nurses Limited. It was formed by a small group of business owners who were predominantly banana farmers on the NSW North Coast.

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Written by: Eliza Parry-Okeden | Last updated: December 12, 2019