The Great Southern Bank Low Rate Credit Card is recommended for Aussies who want a simple and functional card, with efficient features and low maintenance.
The annual fee is waived for the first year, and after that, it’s just $49, which is well below most credit cards—even the cheaper ones, which typically cost around $55.
On top of that, the variable interest rate on purchases is just 11.99% p.a., which is lower than many other options you’ll find around.
Even though it’s a basic card, it doesn’t fall short when it comes to functionality and security.
Check out the full list of advantages and all the important details to help you decide in our detailed review.
Key benefits of your Great Southern Bank Credit Card
- Anti-fraud protection with 24/7 monitoring and assistance in case of loss or theft
- Extra security layer with 3D Secure provided by Mastercard Identity Check
- Low purchase rates
- More savings with one year free of annual fees, and a continuous lower fee than other cards on the market
- Up to 9 additional cardholders at no extra cost
- Can be added to digital wallets like Apple Pay and Google Pay
- Interest-free period: up to 55 days
What’s the possible credit limit for this card?
The minimum credit limit is $500. While the bank doesn’t disclose the maximum limit, it will depend on your income, repayment capacity, and credit history.
Plus, many customers manage to increase their limit over time, as long as they maintain good credit habits.
Key fees
- Foreign transaction fee: 3.4%
- Late payment fee: $12.50
- Cash advance fee: 21.74% p.a.
- Annual fee after the first year: $49 per year
What you should consider before applying
If you’re eyeing the Great Southern Bank Low Rate Credit Card, the first thing to ask yourself is: “Do I want something simple and fuss-free?” Because that’s exactly what this card is all about. With lower rates and fees, it’s perfect for those who aren’t after extras and just want a basic and affordable line of credit.
But if you’re looking for rewards, points, or even travel insurance, this card might not be ideal. It doesn’t come with those additional perks that many other cards offer, so if those extras are important to you, you might want to explore other options.
At the end of the day, it’s all about what you truly need. If your focus is on saving on fees and keeping things simple, the Low Rate could be the right choice for you!
Our opinion about Great Southern Bank Card
We consider this credit card to be excellent at what it’s designed for: being easy to handle and low-cost.
It’s limited in terms of extra perks, but it’s extremely economical and can be a great choice for people applying for their first credit card, or for those who simply don’t want to deal with expensive fees.
Another great piece of news is that you can apply online. So, if you’ve decided that it makes sense for your financial journey, you can submit your application in just a few minutes.