BankVic Visa Silver

Mozo snapshot:

BankVic combines both low rates and low fees to make its Visa Silver credit card both extremely affordable upfront and low in ongoing costs. A Mozo Experts Choice winner in 2017 in the low rate category, this credit card comes with a 6-month special 6.99% introductory purchase rate and no annual fee.  

Key features:

One of the most eye-catching features of BankVic’s Visa Silver credit card is its 6.99% introductory purchase rate that lasts for 6 months. After this, you’ll still only pay 11.95% interest on purchases and can avoid that cost entirely if you’re able to make the most of the 44 day interest-free period and pay your balance in full at the end of month. Another attractive aspect of this particular piece of plastic is the relatively low cash advance rate which also sits at 11.95% but keep in mind you need to pay the modest $1.80 cash advance fee when accessing cash with this card.

If you have outstanding debt on another credit card, BankVic also boast an introductory balance transfer rate of 6.99% for 6 months before reverting to the ongoing rate of 11.95%.

Another headline feature is the $0 annual card fee. BankVic have done away with the yearly credit card payment to make the Visa Silver easily accessible for its customers. The card does however come with a $15 late payment fee and a foreign exchange margin of 3.65% when using it during your overseas travels.

BankVic's Visa Silver also comes with a string of handy features that will make your everyday banking experience that little bit easier including Visa’s payWave feature, access to BankVic’s 24/7 online and telephone banking and the ability to schedule regular payments.

Who it's good for:

If you’re after a card that you can get your hands on without having to pay any upfront costs, Visa Silver’s lack of an annual fee makes it an attractive option for you. Once you do have your hands on it, you’ll have the peace of mind of knowing that you’re paying super low rates while having access to a few convenient everyday banking features.