Teachers Mutual Bank Credit Cards

Teachers Mutual Bank is a provider of credit cards, home loans, personal loans, savings and transaction accounts, term deposits, life insurance, home insurance, car insurance, and travel insurance.

Compare Teachers Mutual Bank credit cardsMutual Banks in Australia - Teachers-Mutual-Bank

If you’re considering a Teachers Mutual Bank credit card, check out what’s available below in our comparison table below.

Compare Credit Cards

Types of Teachers Mutual Bank credit cards

Teachers Mutual Bank has one credit card available at the time of writing: the Teachers Mutual Bank credit card.

This credit card was recently awarded a 5-star rating by Canstar for both Low Rate and Low Fee credit cards in 2017.

Features

  • Card type: Visa
  • Minimum credit limit: $1,000
  • Maximum credit limit: $25,000
  • Interest free days: Up to 55
  • Contactless: Contactless payments enabled via Visa payWave
  • Digital wallets: Compatible with Apple Pay and Android Pay digital wallets
  • Security: Protection against fraud with secure chip card technology
  • Other benefits: No annual fee, no application fee at the time of writing

Compare Credit Cards

Eligibility to apply for Teachers Mutual Bank credit cards

To apply for a Teachers Mutual Bank credit card, you need to be a member, or be eligible to become a member. To become a member, you must meet the following criteria:

  • At least 18 years old
  • Australian citizen or permanent resident
  • Work in the Australian education sector, or be a direct family member of someone working in that sector

How to apply for a Teachers Mutual Bank credit card

Assuming you meet the eligibility criteria above, you can apply online by comparing credit cards on the Canstar website and applying for the card of your choice on the Teachers Mutual Bank website. You can also apply over the phone by calling 13 21 40, or by dropping a written application into one of their branches.

You will need the usual documentation to apply for a credit card, including:

  1. Your employment details
  2. Your annual income
  3. Your usual living expenses
  4. Details about assets you own such as a home, car, other belongings, or savings
  5. Any debts you currently owe on other credit cards, loans, or overdrafts

Read our checklist on applying for a credit card for a more detailed explanation of how the process works.

Compare Credit Cards

Teachers Mutual Bank FAQs

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

Showing Rewards products in Canstar’s database with links to lenders’ websites. The display is sorted by purchase rate (lowest to highest) for credit cards that offer signup bonuses to consumers for a spend of $5,000 per month.

Table only displays five products. Click here to see more. Be sure to read the full terms and conditions of each deal before signing up.

Compare Rewards Credit Cards

Teachers Credit Card

Canstar Research
Rating:
Award: Outstanding Value Credit Cards

Written by: William Jolly | Last updated: