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ANZ First Visa Credit Card

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
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offer
card features
balance transfer
purchase rate
annual fee
your savings
0% p.a. for the first 16 months on balance transfers with a 2% balance transfer fee on amounts transferred. Reverts to 21.49% p.a.
Low annual fee.
Up to 44 days interest free on purchases when you pay your account in full each month.
Add to comparison
16 months
0% p.a.
then 21.49%
with a 2% fee
19.74% p.a.
ongoing
$30
ongoing

Pros & cons

What's good?

What's not so good?

0% p.a. for the first 16 months on balance transfers. Reverts to 21.49% p.a.
Low annual fee.
Up to 44 Days Interest Free on purchases when you pay your account in full each month.
Be insured for 90 days against loss, theft or breakage on items purchased.
Purchases made on the card will double the manufacturer’s expressed Australian warranty on goods by up to 12 months.
ANZ Mobile Pay, Android Pay and Apple Pay let you use your compatible Android or Apple device to tap and pay.
No rewards program.
Any uncleared amount from balances you transfer to this card will revert to the 19.74% p.a. purchase interest rate.
The balance transfer revert interest rate is 21.49% p.a.

Review

Our review of the ANZ First Visa Credit Card

Although this card has a name which reinforces its purpose as the initial credit card for someone just starting out in their financial life – a preliminary card, perhaps, before graduating to something bigger and better – there is absolutely no reason why the ANZ First Visa Credit Card should not become a card to keep forever.

It has all the high tech features that come with much pricier cards – like 'Tap and Go’ payments, internet and phone banking, and ANZ Falcon monitoring for suspicious transactions on your account – as well as a zero interest balance transfer offer, some complimentary insurance cover and interest free days, all packaged with a low annual fee.

0% p.a. interest balance transfer for 16 months

Just in case you’re hesitating about switching from your current card, ANZ are making it easy for you, as well as profitable. You can transfer the balance from your existing card and pay no interest for 16 months. That’s a long breathing space in which you can leave the cash in your mortgage offset or term deposit account, reducing your mortgage interest or actually earning interest income.

Alternatively, if you already have a credit card debt you are struggling to repay, this can be your 'Get out of jail’ card, provided you are prepared to exercise a little discipline. Just divide your debt by 16, and plan to repay that amount each month. At the end of 16 months you will be debt-free, simply because there are no exorbitant interest charges to eat up most of your repayments.

Unfortunately, there is a 2% upfront balance transfer fee to pay. That makes it the equivalent of paying around 1.5% p.a. in interest on the balance over 16 months. But it’s still far better than the lowest personal loan interest rate.

Predictable ongoing interest rates

Perhaps to keep young cardholders from forming bad habits, the ongoing interest rates applied to unpaid balances on this card are just as high as you would expect for any card not promoted as a low rate card: 19.74% p.a. for purchases and 21.49% p.a. for cash advances.

If you need credit in order to make a major purchase, it’s better to regard your credit card as merely an option to tide you over for a month or two. At these rates, your credit card does not provide a sensible option for long term debt, and should only be regarded as your last resort when all other borrowing avenues are exhausted.

Up to 44 days on purchases

The interest-free days may be a confusing concept for anyone new to the world of credit cards. What it means is that purchases are listed on your card account on the day the transaction was made, but you will not be asked to pay for them until several days after the end of your monthly statement closing date.

So, if your statement closing date is, say, the 25th of the month, you will be required to pay for your monthly purchases in full 14 days later, on the 8th or 9th of the following month. You will not be charged any interest at all (even though you have been able to postpone payment for up to 44 days on items purchased right at the beginning of your statement period) as long as you pay off the total account balance on the due date.

But if you fail to pay the full amount, or simply forget the due date for payment, you will be stung by that 19.74% p.a. interest rate from the date of each purchase, and this penalty will probably extend into the following month as well.

Easy account payment with CardPay Direct

If you want to make sure you don’t miss your monthly repayments and end up paying interest, simply set up ANZ’s free 'CardPay Direct’ service on your account. You have several options, including one to pay off the full closing balance on the due date each month.

Payments are charged to your nominated Australian bank account (it doesn’t need to be with ANZ) and you can opt out or make changes whenever you like.

ANZ Mobile Pay, Apple Pay and Android Pay apps

Got a smartphone? Of course you have, and you can get even more out of it with any of these apps: ANZ Mobile Pay, Apple Pay and Android Pay. They turn your phone into a digital wallet, and you’ll never need to fumble for your card in your traditional wallet ever again.

Just tap with your phone to pay or use smart ATMs. You can choose to wake your phone to pay, or launch the app to pay, or launch and enter a passcode to pay. The same methods are available for cash withdrawals from contactless enabled ATMs. Payments and withdrawals over $100 will still need your card PIN, and ANZ Falcon will detect any unusual activity in your Mobile Pay, Apple Pay or Android Pay transactions, worldwide 24/7, so there’s no drop in the security level.

No rewards points, but a low annual fee

Points in rewards schemes and frequent flyer programs have to be paid for somehow, and so points-earning cards typically come with a high annual fee, often around $100 or more. ANZ have sensibly decided that people who are new to the idea of credit cards are unlikely to be spending enough to make rewards points a viable incentive, and so have not offered them with this card. The result is that the annual fee is a pleasingly low $30 p.a., an amount that most people can afford, and up to 3 supplementary cardholders can be added at no extra cost.

Be aware though, that primary cardholders have full and sole responsibility to pay for any purchases made on supplementary cards issued on their account.

Complimentary insurance cover worth having

There may be no rewards points, but ANZ have not let that prevent them from providing the other fairly standard form of complimentary benefit: free insurance cover. You can become a confident and astute consumer with the backing of extended warranty and purchase protection cover, without paying an extra cent.

This means that, for major purchases, the manufacturer’s warranty is automatically doubled (up to a maximum of 12 extra months) as long as you pay using your card. The separate purchase protection insurance provides cover against loss, theft or damage for items purchased with the card, for a period of 90 days after the purchase date. Cardholders may be likely to forget that they have this free insurance cover, but it can be a godsend if they ever need to use it.

Entertainment choices

This card has both a low qualifying income requirement ($15,000) and a low minimum credit limit ($1,000), so cardholders will not necessarily have a wining, dining and concert-going lifestyle. Nevertheless, because it’s a Visa card, it comes with complimentary membership of Visa Entertainment, giving you access to pre-sales concert tickets, movies, special offers and competitions.

More protection if you need it

By paying a small monthly premium of 60 cents per $100 of each statement’s closing balance, you can take out optional ANZ Credit Card Insurance. In the event of your death, disability or involuntary unemployment, you credit card repayments will be taken care of.

Are there other cards like it?

As far as competing cards go, it all depends on which features of the card you find most attractive. It’s possible to get an even lower annual fee – in fact no annual fee – with cards like the Coles No Annual Fee MasterCard (which comes with flybuys points) or the ME frank Credit Card (low interest rate of 11.99% p.a.).

An entry point card

The low income requirement, low annual fee and absence of rewards points emphasise the fact that the ANZ First Visa Credit Card is mainly intended for people taking their first tentative steps in the credit card world. But you could equally well hang on to this card permanently and take advantage of its low-cost simplicity and up-to-the-minute apps.

User reviews

3.6 out of 5.0 based on 90 reviews89% of reviewers would recommend this card.

Rates and fees
Rewards
Customer service
Convenience
Trust
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

Unemployed, I got into heaps of debt

Reviewed and not recommended by Lisa on 27 Apr 2017

I stopped working and was left with a huge credit card debt. ANZ called me claiming they had been trying to reach me for a long time (but this was the first time they rang my mobile) and I had no other phone number.
They organised a payment plan but continued to harass me every few months to increase the amount of the instalments even though they agreed to the payment plan and I had made every instalment payment.

Harassment!

Visa cards seem to be more widely accepted

Reviewed and recommended by Kay on 25 Nov 2016

We have a credit card mainly for emergency use and it has come in handy from time to time. I would totally recommend this particular card type as it can be used anywhere in the world and at most businesses. Some businesses prefer Visa over other cards that are available to be used.

Basic card, low fee, links to ANZ online banking

Reviewed and recommended by Sarah on 11 Nov 2016

The card is good for basic expenditure. The yearly card fee is low and I like that I can link this up to my ANZ online banking and transfer money over immediately to pay any outstanding amounts off.

ANZ are quite good to deal with and are quick to answer their phones.

Card has always served its purpose

Reviewed and recommended by Mauro on 08 Nov 2016

This card has been a convenient, easy way to deal with transactions where you can’t use cash. I have been with ANZ since I first started banking 37 years ago. They always support my situation, and they advised me to use this card. It has never failed on my account or credit. It has always served its purpose without my having to daydream about something else being better. They met my needs and I haven’t misled myself with my responsibilities. Their support for me and my support for them have always got me what I wanted.

Best credit card I have owned

Reviewed and recommended by Jamie-scott on 30 Oct 2016

I have always banked with ANZ, so this was a no-brainer. Customer service at ANZ is great, and this card has low fees and great rewards.

I use this card to do my grocery shopping and recently to furnish my house. I absolutely love it. Being a student, I sometimes find it hard to come across money when I need it. I would absolutely recommend this card to everyone.

Safe, secure, convenient.

Reviewed and recommended by Kayla on 24 Oct 2016

The safety features on this card ensure secure transactions and peace of mind when it comes to my money. It’s convenient for many reasons and offers many opportunities that other cards do not.

My favourite feature is that this card is available to anyone over 14, unlike other banks with an 18-plus rule. The PayPass feature is the best feature of this card, hands down.

Convenient, but high interest

Reviewed and recommended by Shirley on 17 Oct 2016

It’s convenient because ANZ is the bank we do business with, and I can honestly say it probably has a higher interest than other competing banks,but I am too old to change now.

I try not to use it too much, but being on the pension I need to use it. I would be happy if ANZ would cut back the interest, and not charge an annual fee.

Trustworthy service, easy to use

Reviewed and recommended by Karen on 13 Oct 2016

Generally this card is useful, as it is doubles as both a Visa and an EFTPOS card.

The customer service linked to this card is very trustworthy and it’s easy to contact a real person to talk to.

It’s easy to use for phone banking and transferring money between linked accounts. It’s also easy to transfer money to people with different bank accounts.

I was unsure, but it works well

Reviewed and recommended by Melissa on 09 Oct 2016

I wasn’t sure if this would be the right thing for me at the start. I was a bit unsure about how I would go with it, but I actually got on quite well. I would recommend this to my close friends and family because it’s not as bad as it seems.

Convenient, but not as good as some other cards

Reviewed and not recommended by Lisa on 02 Oct 2016

I choose this card as it was originally the best option for my living expenses. It hasn’t been quite as good as some other cards for the last 2-3 years, but for pure convenience I have stuck with this card. I don’t feel this card has the benefits or rewards that some other cards do. It is definitely not a card to compare with other leading cards.

Show 80 more reviews

Basic details

About this card

Card setup
Single
Card tier
Standard
Card type
Visa
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$15,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
None
Temporary residents
Yes

Cardholders

Additional cardholders
3
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$1,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.16 months2%95% of credit limit21.49% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
95% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the ANZ First Visa Credit Card at the promotional balance transfer rate from:

  • ANZ

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.16 months2%95% of credit limit 21.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.79% 21.49% p.a.
Purchases 1.65% 19.74% p.a.

Fees

Annual fee
$30 p.a.
Cash advance fee
2%
Dishonour fee
$6
Duplicate statement fee
$0
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$20
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$4
Overseas emergency card replacement fee
N/A
Transaction verification fee
$0

Benefits

This card comes with benefits worth an estimated $90

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
$50
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
$40
Total estimated value$90
Annual fee$30
Net customer value$60
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $15,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension and Veteran's Pension are acceptable.
Overseas Pension and Widower's Pension are not acceptable.
Carer's Allowance, Child Support Payments and Family Tax Benefits and Parenting Payments are acceptable.
Austudy, Foster Care Allowance and Youth Allowance are not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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