Beyond Bank Low Rate Visa Credit Card. The fees, rates & info

Sometimes in life, you might need to access a bit of extra cash then what you just casually have on hand. Having a credit card is one way you can do this. Applying for a credit card can get pretty complicated when you start to notice that each provider offers a whole array of cards that come with different fees, features and benefits.

This article will explore the Beyond Bank Low Rate Visa Credit Card, including what this card is about, its fees and how you can apply.

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The Beyond Bank Low Rate Visa Credit Card

The Low Rate Visa credit card is a low interest rate card option available to new and existing Beyond Bank customers.¹ Individuals can choose this credit card as a backup option to their debit accounts or can use it on upcoming purchases, while enjoying the interest free period on purchases.

Who is this credit card for?

This card is useful for those who want a cheaper way to access extra credit in comparison to some other credit cards on the market.¹ There is also an 0% p.a. balance transfer offer for new customers when transferring their balances from another provider for 12 months.²

The main features and benefits of the Low Rate Visa Credit Card

Apart from being able to access a line of credit when you need it most, you’ll also get²:

• Contactless payments under $200
• Up to 4 additional cardholders
• Interest free days for 62 days on purchases
• Visa Secure for fraud checks and Smart-cHop
• Visa Zero Liability Guarantee on unauthorised purchases
• Varied interest rates dependant on transaction made

You can also set up the feature called auto-pay which automatically pays your chosen amount each month. This could be set up to cover just the minimum payment or to pay off the remainder of the balance.

Beyond Bank Low Rate Visa Credit Card rewards

The Low Rate Visa Credit Card is not associated with any rewards programs.

The cons of using this card

Like many credit cards, users run the risk of accumulating extra fees if they miss a payment or don’t take notice of any available interest free periods after making a purchase.

These actions alone can have implications on your credit score which can impact future loan types.

Lack of a rewards program may also influence your decision to choose this card.

The credit limits you get with this card

This card can be applied for with a minimum $1000 credit limit. Depending on your needs, you can apply for a greater limit up to $80,000.¹ There is also a $1500 limit on cash advance withdrawals.³

What are the fees for this card

Getting to know the fees upfront can help you decide if this is the right credit card for you. We’ll break down the fees to use and maintain this card here.

Fees*	Beyond Bank Low Rate Visa Credit Card²
Maintenance fees	$49 per year
Points / cash back	No rewards or cashback offers
Late repayments or default fee	$25 plus $20 per default notice
Local/Foreign ATM fees	$4 per cash advance plus 3% of transaction value if withdrawing money from an international ATM
Interest/purchase rate	11.99% p.a. purchase rate
Additional card holders	Up to 4 free
Replacement card	$10

*As seen on 3rd June 2024

Beyond Bank Low Rate Visa Credit Card exchange rate

This card uses the Visa Exchange rate which is converted into Australian dollars at the wholesale rate.³

Beyond Bank Low Rate Visa Card⁴
When you want to spend 1000 AUD in GBP, this card will access the Visa exchange rate of 1 AUD = 0.5236 GBP This means you’ll be getting around in 523.36 GBP Keep in mind that there may be conversion fees for this transaction charged at around 3% depending on the transaction type.

As seen on 3rd of June 2024

How do you get a Beyond Bank Low Rate Visa Credit Card

Getting a credit card requires you to jump through a few extra hurdles in comparison to opening a standard transaction account. Here is how to get a Beyond Bank Low Rate Visa Credit Card.

What are the eligibility requirements for getting this credit card

Before you can even begin an application for this credit card, you need to check if you meet the basic eligibility requirements. For this credit card, all customers must⁶:

• be at least 18 years of age
• A permanent resident or Australian Citizen

If this is you, you can apply online. You’ll need to input some key details into the online application. These include details that state:

• Your employment details
• A residential address
• Your driver's licence
• Information about your assets and liabilities

To support these details, you’ll need to have any documents that can prove the above as part of the application. You don’t need to finish the online form in one session. Once your application is submitted, a Beyond Bank lender will reach out to you with next steps.

How long does it take to get the card

After Beyond Bank has all they need and approve an application, the new card can take anywhere from 5 to 10 business days.⁷

How to Activate the Beyond Bank Low Rate Visa Card

Once you receive your card, you’ll need to activate it. You can do this through internet banking via the mobile app. Here’s the process for each.⁷

Activate through Internet Banking

You should:

1. Log in to your internet banking portal
2. Go to the main navigation menu
3. Click services and Activate Card
4. Input your new cards number

It can take up to 10 minutes for your Low Rate Visa card to activate.

Activate via the Beyond Bank Mobile App

If you don’t have the Beyond Bank App, you should first download it. Then you can:

1. Log in
2. Go to Menu
3. Choose card Management
4. Click your card
5. Activate

Once your card is activated, you can start making purchases.

What else do I need to know?

There are a few other things to know about the Low Rate Visa credit card.

Other types of fees

You will incur extra fees with this card if you have a declined transaction. This includes transactions where you forget your PIN or exceed the PIN code tries. The fee for these types of declined transactions is 0.40 cents AUD per applicable transaction.²

Stolen or Lost Cards

If you ever suspect or realise your card could be stolen, you should contact Beyond Bank immediately. You can notify them through the App or Internet Banking anytime or by calling them during business hours. Your card will be cancelled straight away.⁷

Contacting Beyond Bank

You can contact Beyond Bank by:

• Calling 13 25 85 from within Australia
• Calling +61 8 7201 2400 from overseas

If you have the Beyond Bank app, you can start a live chat between 8am to 8pm Monday to Friday or 8am to 3pm on Saturday.

The Wise Account and Debit Card

With a Wise Account you can hold money in 40+ currencies and spend it in 150+ countries. You can also order local account details in popular world currencies like AUD, NZD, USD, EUR, GBP to receive local and/or international payments like a local.

Whenever you exchange currencies it’s done using the mid-market rate with a transparent conversion fee shown upfront.

To make everyday spending easier you can order a Wise Debit card for your Wise Account and generate virtual cards as needed. If you have the local currency in your Wise Account the Wise card will use it. If you don’t have local currency converted, it uses smart technology to auto-convert your money at the mid-market rate, for a conversion fee.

The Wise card may suit you better if you’re to spend money that you’ve stored in different currencies within an existing Wise Account, and benefit from 2 or less free cash withdrawals under $350 AU, or foreign equivalent, per month (keep in mind that ATM providers may charge their own fees). You can see our full fee breakdown for ATM withdrawals here.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

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Sources:

1. Beyond Bank Low Rate limits
2. Beyond Bank Low Rate info
3. Beyond Bank overseas
4. Visa exchange converter
5. Wise converter
6. Beyond Bank application
7. Beyond Bank credit cards FAQs

Sources checked on: 04 June 2024