Credit card fee changes

A change to our Low-Rate Credit Card

Our Low-Rate Credit Card has long been recognised by industry awards for its outstanding value. Since interest rates were at an all-time low, and throughout a rising interest rate environment, our card has continued to offer one of Australia’s lowest ongoing credit card rates of 8.99% p.a.* on purchases and cash advances. In fact, we haven’t passed on any rate increases in over 6 years.

The good news is that the great value interest rates on our Low-Rate Credit Cards are not changing. However, there will be a change to some fees on 1 December 2024.

Low Rate Credit Card Annual Fee – the current annual fee of $40 will increase to $50

Domestic Cash Advance Fee – this new fee will apply to all Domestic Cash Advance transactions moving forward and will be charged at $2 per transaction.

What is a Domestic Cash Advance?

A Domestic Cash Advance includes transactions in Australia where you are taking cash out. This could be cash out with a purchase, withdrawing cash at an ATM in Australia and transferring funds out of your credit card account. These types of transactions will incur a $2 fee each time they’re performed. Note that cash advances are not eligible for interest free days and will incur interest from the day they are made until they are repaid in full.

From 1 December 2024, Overseas Cash Advance fees and Domestic Cash Advance fees will also be charged on the day the transaction occurs. Please note that when a balance transfer offer is in progress, once the introductory period expires it will revert to the cash advance rate. A Domestic Cash Advance includes transactions in Australia where you are taking cash out. This could be cash out with a purchase, withdrawing cash at an ATM in Australia and transferring funds out of your credit card account. These types of transactions will incur a $2 fee each time they’re performed. Note that cash advances are not eligible for interest free days and will incur interest from the day they are made until they are repaid in full.

If you would like to view our current Fees and Charges schedule, click here.