Rates and fees verified as correct at 18 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
Tend to carry a balance on your credit card? You can minimise the impact that habit has on your savings pile by opting for a low rate credit card option. If you’re looking for simplicity and cost effectiveness, check out the low rate credit card option from IMB Bank below.
| Product | Purchase rate | Balance transfer rate | Annual fees | Interest free days on purchases |
|---|---|---|---|---|
| 12.99% p.a. | 0% p.a. for 12 months and then 21.74% p.a. | $75 $37 in the first year | 55 |
On the other hand, if you want something a bit fancy for your piece of plastic, check out IMB Bank’s rewards credit card option. It comes at the price of a hefty annual fee, but not only will you be earning bonus points on your spending, but because this is a platinum credit card, you can also cash in on a bunch of freebies and special offers.
| Product | Points per dollar | Purchase rate | Balance transfer rate | Annual fees |
|---|---|---|---|---|
| 1 point per dollar on Mastercard, uncapped | 20.24% p.a. | 0% p.a. for 14 months and then 21.74% p.a. | $129 $99 in the first year |
Do you like a bit of fanfare when you flash your plastic? Then get your hands on the prestige option from IMB. This is a top end rewards card, so you’ll have access to great perks and some serious rewards power, but expect to pay for it through the annual fee and interest rate!
| Product | Points per dollar | Purchase rate | Balance transfer rate | Annual fees |
|---|---|---|---|---|
| 1 point per dollar on Mastercard, uncapped | 20.24% p.a. | 0% p.a. for 14 months and then 21.74% p.a. | $129 $99 in the first year |
Either IMB Bank credit card will give you 55 interest free days to pay off your purchases. Taking advantage of these days is one of the most effective ways to limit the cost of using a credit card, so don’t be shy. Remember that this interest free period doesn’t begin when you make the purchase though - it begins at the start of your statement cycle. So to get the most of your interest free days, try to time your big spends for the beginning of the month.
Fees that will apply to your IMB Bank credit card include:
The annual fee (different for each card)
Cash advance fees
Foreign currency conversion fees
Each month, your credit card statement will show the minimum repayment you need to make. How much it is will depend on the balance on your card at the time. It will be the largest of either $30 or 2% of your balance.
Although this is the minimum you need to pay, it’s always a good idea to pay off as much of your balance as you can - that way you minimise interest and reduce the risk of building up credit card debt.
Yep! If you’ve got a credit card balance hanging over your head, find yourself some breathing room with a great balance transfer deal with any IMB Bank credit card. You’ll have a zero interest period to pay off your balance and get your credit card debt under control. But keep in mind that after this period, any balance you haven’t paid off will be charged interest at the higher cash advance rate. So make sure you have a repayment plan in action!
Want to know more? Visit our guide on balance transfers.
You’re IMB Bank credit card works on the MasterCard system, which means you can use PayPass or Tap ‘n’ Go for spends under $100.
If you’ve got an IMB Bank credit card in your pocket, you’ve got spending power all over the world, wherever MasterCard is accepted.
If you decide to go for a rewards card from IMB Bank, you’ll earn 1 point for every $1 you spend. You’re spoilt for choice as far as redeeming those points go - you can cash in on cashback, retail products, gift cards or travel with a bunch of airline programs.
Because the rewards card from IMB is also a platinum offer, you can also cash in on a bunch of freebies, including complimentary insurances like international travel insurance, interstate flight inconvenience insurance and purchase cover insurance. Plus, feel a little bit fancy with your own concierge service, which will help snag you exclusive offers and event tickets.
As for the fine print, remember that points are capped at 100,000 a year and can’t be earned on cash advances, balance transfers or special promotions.
It’s important to be aware of the risks of using a credit card, and know how to keep your details and your money safe when you spend. Here are a few tips to keep your IMB Bank credit card safe and sound.
Number one rule: don’t click on any links in emails that say they’re from IMB. IMB Bank won’t send you any emails containing links and if you do get one, it’s probably a scam.
Choose a hard to guess PIN number - 1111 or the year you were born isn’t fooling anyone - and don’t tell anyone what it is or write it down anywhere.
If you’re using your credit card details online, look for the padlock symbol on your browser bar to be sure you’re using a safe connection.
If you use online banking, don’t forget to log off
Report any suspicious emails or activity on your account as soon as you can by calling or emailing IMB Bank.
Mozo users have rated IMB Bank credit cards on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
22 Reviews
Absolutely dreadful policies. All I want is to change my address, as I no longer live in NSW, but apparently it can not be done because I do not have internet banking, something I could not set up as I no longer live in the state. They have to email me forms, requiring me to fill in and post back to them even though they verified my identity over the phone. Strange that when I missed some payments they wanted my address to send threatening letters to me, but will not voluntarily change it so I can get my monthly statements, which they will not email to me. However they will email me letters from their collection agency when I am $40 over my limit, something which would not happen if they changed my address as requested and sent out my statements.
Read full reviewAbsolutely dreadful policies. All I want is to change my address, as I no longer live in NSW, but apparently it can not be done because I do not have internet banking, something I could not set up as I no longer live in the state. They have to email me forms, requiring me to fill in and post back to them even though they verified my identity over the phone. Strange that when I missed some payments they wanted my address to send threatening letters to me, but will not voluntarily change it so I can get my monthly statements, which they will not email to me. However they will email me letters from their collection agency when I am $40 over my limit, something which would not happen if they changed my address as requested and sent out my statements.
I have no annual fee and get points for every dollar I spend and get at least 1000.00 worth of vouchers per year.
Read full reviewI have no annual fee and get points for every dollar I spend and get at least 1000.00 worth of vouchers per year.
The best bank in NSW.
Read full reviewThe best bank in NSW.
If you want to apply for a credit card with IMB Bank, here’s what you’ll need:
