Teachers Mutual Bank credit cards

Teachers Mutual Bank
Teachers Mutual Bank's overall rating for credit cards

(as rated by the Mozo community)

8.8 / 10

based on 91 reviews

By teachers, for teachers. Teachers Mutual Bank is member owned and caters to educators, their families and other employees in the education field. It was the winner of a Mozo Experts Choice Award for best low rate credit card in 2015 and continues to take other credit cards to school today. Check out its credentials below:

Rates and fees verified as correct at 14 November, 2018. Other information correct at the time of writing.

What credit cards do Teachers Mutual Bank offer?

Low rate credit cards Low rate credit cards

All those notebooks and sticky notes stretching the budget a little thin sometimes? With a low rate credit card from Teachers Mutual Bank in your pocket, you won’t have to worry. Perfect for those who might forget to make a payment or two, this affordable piece of plastic is a must-see.

Product Purchase rate Balance transfer rate Annual fees Interest free days

7.90% p.a. for 6 months then 11.50% p.a.

7.90% p.a. for 6 months and then 11.50% p.a.

$0

55


Hide

Low fee credit cards Low fee credit cards

High annual fees are a thing of the past with a low fee credit card option from Teachers Mutual Bank in your pocket! This affordable card is super budget-friendly, so you can avoid getting caught out with an ultra high credit card bill.

Product Purchase rate Balance transfer rate Annual fees Interest free days

7.90% p.a. for 6 months then 11.50% p.a.

7.90% p.a. for 6 months and then 11.50% p.a.

$0

55


Hide

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

Frequently Asked Questions about Teachers Mutual Bank credit cards

How may interest free days do I get on my Teachers Mutual Bank credit card?

When you rack up a balance on your Teachers Mutual Bank credit card, you’ll have up to 55 days in which to pay it off before you get whacked with interest. This period always starts when your statement cycle does, and not when you make a purchase, so if you hit the shops late in the cycle, you’ll have less than 55 days to pay off your balance interest free.

What fees might I be charged?

As well as being low rate, the Teachers Mutual Bank credit card is also a low fee option. There’s no annual or additional cardholder fees in sight. You will have to contend with cash advance and foreign exchange fees though.

What’s the minimum repayment amount I must make?

The minimum amount you need to pay off your Teachers Mutual Bank closing balance each month is 3%. Maths teachers shouldn't have a problem with that!

For anyone less familiar with their percentages, here’s a handy solution: pay the whole balance off each month instead. Not only does this cut down on the amount of maths you need to do, but it also cuts down on interest and ensures you’ll get to keep your interest free days for the next month too.

What rewards will I earn with my Teachers Mutual Bank credit card?

This card is a low-cost, low-maintenance option. While that’s great for your wallet, it also means there’s no rewards program attached.

If you’re looking for a card that will let you rack up some freebies and cash in on premium perks, check out all these great rewards cards instead.

Can I use my Teachers Mutual Bank credit card for a balance transfer?

Yep! If you’re trying to save money and manage previous credit card debt with a balance transfer offer, then you can do it with your Teachers Mutual Bank credit card.

The catch is that although you’ll get the same low introductory rate on transferred balances as you do on your regular spending, you won’t get a zero interest period to pay off your debts.

Will my Teachers Mutual Bank credit card work overseas?

Anywhere VISA is accepted, your Teachers Mutual Bank credit card will be too. Just don’t forget to budget for the foreign exchange fees in your travel plans - or, head over to our travel money section and check out a prepaid travel card.

Can I use payWave with my Teachers Mutual Bank credit card?

Yes! Your Teachers Mutual Bank credit card is a VISA card, which means you can use it to make contactless payments on VISA’s payWave system.

How can I keep my Teachers Mutual Bank credit card secure?

The most important part of credit card security is being vigilant and keeping an eye on your account. This means:

Be aware of your surroundings when using an ATM. Keep your PIN hidden, and look for damage on the ATM itself that might mean scammers have tampered with the machine

Keep your PIN a secret. Don’t write it down or tell anyone what it is.

Review your credit card statements regularly. Look for any unusual transactions or purchases you don’t remember making and if you find something out of the ordinary, report it to Teachers Mutual Bank straight away.

How are Teachers Mutual Bank credit cards rated?

Mozo users have rated Teachers Mutual Bank credit cards on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Teachers Mutual Bank credit cards

Overall 8.8

Price

Features

Customer service

Convenience

Trust

91 Reviews

Recent Teachers Mutual Bank credit card reviews Recent Teachers Mutual Bank credit card reviews

Teachers Mutual Bank

Teachers Mutual Bank Credit Card credit card review

Overall rating   10 / 10

Friendly, helpful and very knowledgeable.

Flexible, competitive rates, low charges. Customer service and loans officers are professional and are genuinely interested in helping you get the best product for your personal needs.

Full review

Flexible, competitive rates, low charges. Customer service and loans officers are professional and are genuinely interested in helping you get the best product for your personal needs.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Cloe, Victoria, reviewed almost 3 years ago

Teachers Mutual Bank

Teachers Mutual Bank Credit Card credit card review

Overall rating   10 / 10

Profits return to members, great service

My preferred bank for 30 years, always returning profit to members as a not for profit members bank.

Full review

My preferred bank for 30 years, always returning profit to members as a not for profit members bank.

    Price   10 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Vkhall, Australian Capital Territory, reviewed about 3 years ago

Teachers Mutual Bank

Teachers Mutual Bank Credit Card credit card review

Overall rating   10 / 10

Great service.

They provide a high quality of customer service and a broad range of products at very competitive rates.

Full review

They provide a high quality of customer service and a broad range of products at very competitive rates.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Susan, New South Wales, reviewed about 3 years ago

Teachers Mutual Bank

Teachers Mutual Bank credit card review

Overall rating   10 / 10

Great customer service

Always friendly and ready to help. Clear the credit card by the end of the month and pay nothing!

Full review

Always friendly and ready to help. Clear the credit card by the end of the month and pay nothing!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   3 / 10

    Trust   10 / 10

Less

Kathy, New South Wales, reviewed over 3 years ago

Teachers Mutual Bank

Teachers Mutual Bank Credit Card credit card review

Overall rating   8 / 10

Competitive interest rates, excellent assistance

Competitive interest rates, excellent customer assistance. Physical inconvenience as no ATM or branch available locally.

Full review

Competitive interest rates, excellent customer assistance. Physical inconvenience as no ATM or branch available locally.

    Price   8 / 10

    Features   9 / 10

    Customer service   7 / 10

    Convenience   5 / 10

    Trust   7 / 10

Less

Bronwyn, New South Wales, reviewed over 3 years ago

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What do you need to apply for a Teachers Mutual Bank credit card? What do you need to apply for a Teachers Mutual Bank credit card?

Before you apply for a credit card with Teachers Mutual Bank, you’ll need to become a member, which you can do at the beginning of the application process. To become a member, you must be:

  • A citizen or permanent resident of Australia
  • 18 or older
  • A retired or current employee in the education sector
  • Or, family of a member

You’ll also need to pay $10 to become a member/shareholder and to bring along photo I.D., like a driver’s license or passport.

When you go to apply for a credit card, you’ll need to supply details of your financial situation, including your current income, assets and debts.

For more information on making a credit card application, check out our guide.

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