My Credit Union Credit Cards
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Types of My Credit Union credit cards
My Credit Union offers just one credit card product – the Low Rate Visa Credit Card, which is designed to be ideal for everyday transactions. The card offers a special introductory interest rate and no fees in the first year, making it an affordable credit option.
Low Rate Visa Credit Card
Features
- Introductory offer:99% on balance transfers for six months; purchase rate thereafter
- Interest-free period: up to 55 days, when you pay on time and in full
- Minimum credit limit: $1,000
- Contactless payments: Visa payWave
- Online banking: Yes, using My Credit Union Internet Banking
- Rewards: N/A
Fees and rates
- Purchase interest rate: 99% p.a.
- Cash advance interest rate: 99% p.a.
- Annual fees: $59 ($0 in the first year)
- Minimum repayment: 5% of closing balance or $20, whichever is greater
Eligibility to apply for My Credit Union credit cards
In order to take out a My Credit Union credit card, you must meet the following criteria:
- At least 18 years old
- An Australian citizen or permanent resident
My Credit Union also needs to know if you:
- Are employed more than 20 hours per week
- Have ever been declared Bankrupt or had any Judgments or Legal Action against you for the recovery of debt
How to apply for a My Credit Union credit card
You can apply for a credit card from My Credit Union using the company’s online application form, which only takes around 10 minutes. You will need to provide extensive details of your current financial situation in order to get approved, including:
- Your personal details
- Proof of income
- Details of current assets
- Details of current liabilities and expenses
If you can’t apply online, you can always call My Credit Union on 1300 655 116 to talk to a representative who will help you.
Your application should be processed (and hopefully approved!) within 24 hours of submission.