- Low interest of 10.49% p.a. on purchases and balance transfers
- Low annual credit card fee of $30
- Up to 55 days interest free on purchases
- Access to Apple Pay, Google Pay & Samsung Pay
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Sydney Mutual Bank Credit Cards
Sydney Mutual Bank Low Rate Credit Card
Updated 1 November 2024
This card is no longer available for application. This information has been left for those who still have the card or were previously interested.
Save with Sydney Mutual Bank Low Rate Credit Card's low ongoing rate of 10.49% p.a. on purchases, cash advances, and balance transfers (fee-free). Plus, enjoy a low annual fee of $30, up to 55 days interest free on purchases, and worldwide Visa acceptance. T&Cs apply.
Purchase Rate (p.a)
10.49%
Balance Transfer (p.a)
10.49%
Annual Fee (p.a)
$30
Pros and cons
- No introductory offer on balance transfers
Creditcard.com.au review
Editor Review
Sydney Mutual Bank Low Rate Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The Sydney Mutual Bank Low Rate Credit Card
Offering a lovely low rate on purchases, cash advances and balance transfers, the Sydney Mutual Bank Low Rate Credit Card could be a serious money saver for cardholders looking to keep interest costs down. Also offering a nice low annual fee, the card keeps things pretty simple elsewhere, but does provide up to 55 days interest free on purchases and worldwide Visa acceptance.
What we love...
When you are looking for a credit card that can help you save money, you will likely check out how much each one charges in interest before anything else. This is where the Sydney Mutual Bank Low Rate Credit Card shines. It has one low rate across purchases, cash advances and balance transfers, which not only makes it easier to know where you stand with interest, it could also help you save some serious money.
- Purchases: If you carry a balance on your card – that is, if you don’t pay off your balance in full – your balance will start to accrue interest at the card’s standard variable rate for purchases. As this rate is nice and low on this card, it could help you keep interest costs down, so you can pay off more of what you owe to clear that balance faster.
- Cash Advances: You can often find cash advance rates reaching 22% and 23% – and higher. So, not only are you likely paying fees on that cash advance, you will also be paying a huge amount in interest from the day of the withdrawal. While cash advances still aren’t generally recommended, at least on this card, the rate at which they will accrue interest is lower.
- Balance Transfers: When you transfer a balance from another credit card onto this card, you will pay the card’s low rate, with no balance transfer fee to worry about. While it’s obviously not as low as 0% balance transfer offers, it may still help you save on interest, allowing you to pay it down faster.
Another money saver to take advantage of on the Sydney Mutual Bank Low Rate Credit Card is the card’s interest free feature. As long as you pay off your balance by the due date each month, you can benefit from up to 55 days interest free on purchases. On top of that, the card can help to keep costs low in the long term with a low annual fee.
What’s not so great...
Don’t expect anything fancy on the Sydney Mutual Bank Low Rate Credit Card. This card is built to save money, providing a low rate and a low annual fee, with a generous interest free feature thrown in. What it doesn’t have is a rewards program or extravagant extras, so if this is what you want – and what you don’t mind paying more for in fees and interest – it may be best to look elsewhere.
Why should you choose this card?
The Sydney Mutual Bank Low Rate Credit Card is an award-winner – in a big way. Taking home a stack of awards year after year, this card has been awarded a 5-star Canstar rating in the low rate Visa Credit card category in 2018, 2017, 2016, 2015, and 2014. It also won the 2016 and 2015 Gold Mozo Experts Choice Award, and was considered the perfect credit card for travel, having won the 2017 Mozo Experts Choice award in the Low Rate Travel Credit Card Category.
While it may not be packed with features, it does offer acceptance the world over, thanks to Visa’s extensive network. It also helps out with Visa payWave, offering faster payments at the checkout, and more security thanks to Verified by Visa. Cardholders can also get their hands on an enticing array of entertainment offers with Visa Entertainment.
Overall Rating
Keeping it simple, the Sydney Mutual Bank Low Rate Credit Card has one low rate on purchases, cash advances and balance transfers, with up to 55 days interest free on purchases and a low annual fee.
User reviews
Rates and fees
Interest rates
Purchase rate 10.49% p.a.
Cash advance rate 15.49% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 10.49% p.a. for 99 months
Balance transfer revert rate 10.49% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit up to 100% of approved credit limit
Brands you can't balance transfer from Sydney Mutual Bank
Credit limits
Minimum credit limit $1,000
Maximum credit limit N/A
Fees & repayments
Annual fee $30 p.a.
Additional cardholder fee N/A
Foreign transaction fee 3%
Minimum repayment 2.5% or $20
Cash advance fee $4.00
Late payment fee $15
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Overview
Sydney Mutual Bank Low Rate Credit Card
Sydney Mutual Bank offers this low rate Visa credit card, accepted worldwide and with the option to have Visa PayWave enabled. The annual fee is lower than many other cards on the market at just $30. This card features a low purchase rate, and doesn’t include extras such as frequent flyer points and shopping rewards to keep the annual fee and interest rate down.
Key features
- Low interest of 10.49% p.a. on purchases and balance transfers
- Low annual credit card fee of $30
- Up to 55 days interest free on purchases
- Access to Apple Pay, Google Pay & Samsung Pay
Minimum criteria to apply for this card
-
Be over 18 years old
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Good Credit and have not applied for multiple credit cards recently
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Resident or citizen of Australia
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
Recently Asked Questions
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