Teachers Mutual Bank Credit Cards

You will have to activate the card when it arrives before you are able to use it. Activate the card using the mobile banking app or online banking, or by contacting Teachers Mutual Bank.

Yes, you can manage your Teachers Mutual Bank credit card through the mobile banking app or online banking. With online and mobile banking, you can manage your credit card by viewing your transaction history, checking your interest balance, applying for new cards, and more.

When interest is charged

Interest is charged when you carry a balance on your Teachers Mutual Bank credit card, from the date of withdrawal for cash advances, and from the date of transfer for balance transfers.

When interest is not charged

Up to 55 interest-free days apply to your Teachers Mutual Bank credit card, and these interest-free days apply if you have paid the balance in full for the previous month’s statement and for the current month’s statement. For more information about interest-free days, check out our article on how they work.

The credit limit on your Teachers Mutual Bank credit card will be determined based on the information you provide in your application, within the minimum and maximum credit limits that apply (see above).

You can increase your credit limit at any time by filling out a credit card limit increase application form, and Teachers Mutual Bank may accept or reject your application at their discretion based on their lending criteria. Find out more about how credit limits are determined here.

You can close your Teachers Mutual Bank credit card account at any time by contacting them on 13 12 21 (open Mon-Sat), or via online contact form.

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 your reason for cancelling is that you’re under financial stress, contact the Teachers Mutual Bank financial hardship team to look for potential solutions.

If you’re cancelling your credit card because you aren’t happy with it, then consider checking out what else is on the market by clicking the button below to compare credit cards using the Canstar website:

Compare Credit Cards

Teachers Mutual Bank was founded in 1966 with the goal of providing financial services to educators and their families. Today, Teachers Mutual Bank includes three brands – the original Teachers Mutual Bank, UniBank, and Firefighters Mutual Bank – making it one of the largest mutual banks in Australia. It now has nearly 175,000 members and manages $5.3 billion in assets.

Teachers Mutual is dedicated to improving the education community through investment, and along with UniBank and Firefighters Mutual Bank, it supports the following initiatives:

• Future Teacher Scholarships – offers $5,000 in financial assistance to eight university students becoming teachers each year
• Teachers Mutual Bank Harvard Scholarship – gives one Principal from a government-funded school the opportunity to learn at the Harvard School of Education in America
• Premier’s Teachers Mutual Bank New and Emerging Technologies Scholarship – gives all NSW teachers the opportunity to undertake a scholarship to learn more about new technologies in education

Teachers Mutual also believes that sustainability is a vital aspect of running a business, which is why it has a number of sustainability goals. In 2015, Teachers Mutual Bank was named ‘Best bank in socially responsible performance’ at the Australian Banking and Finance Awards.

Source: Teachers Mutual Bank