BankVic currently offers two primary credit card products, a low-rate and a rewards credit card.

The bank's Low Rate Visa Credit Card is an entry-level option ideal for day-to-day purchases or to consolidate debt. It's available to all eligible BankVic members.

The Qantas Visa Credit Card allows cardholders to earn Qantas Points based on eligible purchases. However, it's only available to members of The Police Association of Victoria (TPAV) and the Victorian Ambulance Union (VAU).

Both options give members access to a low-cost card with no annual fees and six-month introductory rates.

Key Features of BankVic Credit Cards

Low Rate Visa Credit Card Qantas Visa Credit Card
Credit limit $1,000 - $20,000 $5,000 - $30,000
Minimum monthly repayment 2.5% of closing statement balance or $20, whichever is greater 2.5% of closing statement balance or $20, whichever is greater
Interest-free period Up to 44 days on purchases Up to 55 days on purchases
Balance transfer Yes, discounted rate for the first six months Yes, discounted rate for the first six months
Rewards N/A Earn 1 Qantas point for every $2 spent on eligible transactions
Earn 1 Qantas point for every $1 spent on Qantas flights
Contactless payment Visa and digital wallet Visa and digital wallet
Security Covered by Visa Zero Liability Policy that protects against unauthorised transactions Covered by Visa Zero Liability Policy that protects against unauthorised transactions

These are correct at the time of writing and are subject to change.

Low Rate Visa Credit Card

BankVic's Low Rate Visa Credit Card suits members looking for a basic card for daily purchases or consolidating debt. It features a low six-month introductory balance transfer rate, which means cardholders pay lower interest on debt transferred from other credit cards or personal loans for the first six months. Any unpaid balance reverts to the prevailing purchase rate upon the offer's expiry.

While there are a few other cards offering 0% interest rate on balance transfers for much longer periods (typically 12 months), BankVic levels it off by charging zero annual fees on its low-rate credit card.

Qantas Visa Credit Card

Qantas Visa Credit Card is BankVic's rewards credit card exclusively available to current or retired members of the Police Association of Victoria (TPAV) and the Victorian Ambulance Union (VAU).

It is linked to the Qantas Rewards program, providing an opportunity for cardholders to earn uncapped Qantas frequent flyer points on eligible spend using a low-cost card.

  • 1 Qantas Point for every $2 spent on eligible transactions

  • 1 Qantas Point for every $1 spent on Qantas flights

It also comes with complimentary international travel insurance and a low currency conversion fee. Cardholders also get introductory interest and balance transfer rates in the first six months and pay no annual fees.

BankVic Credit Card Fees

BankVic doesn't impose annual fees on both of its credit card products, although a few charges* may apply.

  • Annual card fee - $0

  • Late payment fee - $9 for Qantas Visa; $15 for Low Rate Visa

  • Currency conversion fee - 2% of the AUD transaction amount (Qantas); 3.65% (Low Rate)

  • Disputed transaction fee - $25

  • Card replacement fee - $10

*These are correct at the time of writing and are subject to change.

How to Apply for a Credit Card with BankVic

As with other BankVic products, the credit cards are exclusively available to the Victorian bank's members.

Interested members can apply via the bank's website or at any branch. Applicants must complete and submit an application form - which the bank says should only take 30 minutes - and wait for the bank's response via their preferred contact method.

To be eligible, would-be cardholders must:

  • Be a BankVic member

  • Be at least 18 years old

  • Be an Australian citizen or a permanent resident

  • Have an email account and mobile phone

Documents required include:

  • Driver's licence or passport

  • Recent payslips

  • List of assets owned

  • List of existing debts

A good credit history is required for approval, which means you must agree to a credit check when applying for a credit card with the bank.