What's great about the Police Bank Visa Card is that you don't even have to be in the police service to get the benefits of its low rate credit card, it is available to all Australian residents.
If you are looking to save on interest repayments the Police Bank Visa Credit Card has a 0% balance transfer rate for 12 months, after which any balance will revert to the standard low 10.76% ongoing interest rate, which compared with some other balance transfer offers that revert to cash advance rates of over 20%, is a great money saver.
You will get up to 55 days interest free on new purchases (as long as you pay your balance off in full each month) or you will pay 10.76%. This interest rate also applies to cash advances but unlike purchases cash advances will start accruing interest immediately so it is best to avoid these if you can.
With Visa access, you can shop online or in person around the world wherever Visa cards are accepted. International purchases however will attract a 3% foreign exchange margin so be sure to factor that into any online shopping budget. For purchases under $100 you can use the Visa payWave feature of the card and just tap and go!
Be sure to automate your payments or you could find that you will be up for a $10 late payment fee.
Who it's good for:
Anyone who wants to stop paying high interest and clear their debt.
Branch locations are limited but this shouldn't put you off. The account comes with internet banking and telephone banking access for easy account management.