Low-rate Visa card image

First Option Bank Low-rate Visa

Advertiser disclosure
Purchase rate
10.49% p.a.
Balance transfer rate
No current offer
Annual fees
$48 No annual fee when part of home loan package, $0 in the first 1.0 year
Interest free days on purchases
45

Mozo editorial review First Option Bank Low-rate Visa - last updated: 28 August 2023

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What's hot
  • 10.49% p.a. purchase rate
  • $48 annual fee (waived in the first year)
  • 0.25% of every transaction goes to funding environmental charity programs
What's not
  • 17.99% p.a. cash advance rate
  • No introductory purchase rate
Mozo snapshot

If you’re looking for an ethical credit card you can feel good about with a low purchase rate to match, keep an eye on the Low Rate Visa Credit Card from First Option Bank. A 10.49% p.a. purchase rate can help to keep interest low, and the low annual fee is waived in the first year. 

The credit card is also made from 82% recycled plastic, and 0.25% of every purchase goes to supporting the bank’s environmental charity partners.

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Key features

Reaching for your credit card isn’t always cheerful, but this offering from the carbon neutral First Option Bank offers the feel-good factor with its 82% recycled plastic design and Environmental Rewards program. In fact, 0.25% of every purchase on this credit card will be directly donated to funding positive change programs partnered with First Option Bank. 

The eco-friendly status isn’t the only thing to keep you smiling, as this credit card offers a 10.49% p.a. purchase rate, considerably lower than the database average Mozo credit card interest rate of 17.12%. Like with most credit cards, there is a higher cash advance rate: this sits at 17.99% p.a. for this card. The card’s 45 interest free days do not apply to cash advances.

There might not be a low introductory purchase rate, but your annual fee is waived in the first year. The annual fee is $48 thereafter, and this will continue to be waived for home loan account holders with First Option Bank.

You can use this credit card digitally with mobile wallet integration, and it also works overseas, but bear in mind the 2.00% foreign exchange margin.

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Who is it good for

If you’re looking for a credit card that lets you give back while you spend (but don’t want to spend too extravagantly), you’ll enjoy the environmentally friendly elements of this credit card…and the low purchase rate.

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Any catches

If you love earning rewards on your spending, this credit card is not going to be up your alley – it has no rewards scheme beyond giving back to the environment. You’ll also sacrifice a flashy headline offer for a low ongoing rate: no months of 0.00% p.a. purchase rate here, if you were hoping to take advantage.

Details

Rates and fees information correct as at 21 February 2024 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

10.49% p.a.

none

No current offer

none

17.99% p.a.

45

Fees

$48.00

$0 in the first 1.0 year

none

$0.00

$0.00

3

2.00%

$2.50

$30.00

$7.50

Features

$25.00

3.0

yes

none

Payment options

Apple Pay, Google Wallet, PayID

Other benefits

0.25% money spent using a First Option Low-Rate Visa credit card contributes to funding positive change programs. First Option Bank contribute the funds directly to partners as a percentage (0.25%) of what members spend each month.

Customer Reviews

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