ANZ First Visa Credit Card

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
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Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
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, Samsung Pay™ and Apple Pay let you use your compatible Android or Apple device to tap and pay.
No rewards program.
The balance transfer revert interest rate is 21.49% p.a.

Our review

Our review of the ANZ First Visa Credit CardReviewed by Yvonne Taylor

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.

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

Reviews from users

Easy to use credit card

Reviewed and recommended by Vicky on 03 Jul 2016

The ANZ Visa card is a very good credit card. It’s easy to use, the charges are OK, and the points you get are good. Also, the card is accepted in all the places I go and have to purchase goods and services. It also has the contactless services, so that if you make smaller purchases you don’t need your number.

Reasonable and good introductory card

Reviewed and recommended by Marie Divers on 21 Oct 2013

I feel that this is a great card to start out with. I got my card to help pay some bills and also as an emergency back up plan. Staff are always helpful and I would recommend this product to anyone considering it. Fees are reasonable as well.

Wrong for me

Reviewed and not recommended by Zohair on 22 Jul 2016

I have been using this card for more than six months but they didn’t increase the credit limit. This is one of the biggest drawbacks of this card. Secondly, I can’t make a payment to an other account though this card. I just make a online payment, so I don’t like this card any more. It’s just scrap for me. Not happy at all.

Basic card, no rewards

Reviewed and not recommended by Loz on 18 Jul 2016

Good basic card if you are just looking to make the odd purchase and intend to pay it off before the due date. There’s no rewards program for this card so no temptation to spend for the sake of racking up points. There is still an annual fee though, so I wouldn’t have signed up for this card under normal circumstances.

It suits my needs ok

Reviewed and recommended by Carolyn on 02 Jul 2016

I wanted a credit card that had a low upper limit and wasn’t connected to any of my accounts. I found I needed a credit card to shop online, but I do not trust the internet and I do not need a credit card for any other reason. So this was perfect for my needs. It’s probably not for everyone, but really good for people like me.

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.

Get your debt under control

Reviewed and recommended by Jules on 10 Aug 2013

After getting into debt with credit cards, although I was not a customer of ANZ, they have accepted me to have one of their credit cards without having to open any other savings accounts with them. ANZ have given me an opportunity to get my debt under control with a balance transfer from another bank’s credit card to ANZ first visa credit with 0% for 9 months then I will go onto a low interest rate.

Emergency convenience

Reviewed and recommended by Isabella on 07 Jul 2016

I find the ANZ First Visa Credit Card is very convenient when it comes to emergency purposes. However, I can’t say the same for the fees because they charged on a daily basis. They are ridiculously high and I think ANZ should be able to review it and see if it can be lowered.

I control the card

Reviewed and recommended by Anthony on 12 Aug 2016

The Visa is linked to my savings account. The mobile app is very convenient — you can transfer funds between accounts.

You just need to know when they issue your credit card statement every month (making sure you clear your card balance so you do not have to pay interest)..

I also belong to the rewards program. It paid for airfares for me and daughter this year to go to Hong Kong for a holiday.

Handy to have as a back up

Reviewed and recommended by Julsy on 09 Oct 2013

Would deal with this bank again, very friendly trustworthy service … couldn’t do enough to help. This card is perfect for me and my family, it meets our needs perfectly. The card is accepted every where and is handy to have as a back up, if an emergency takes place. Would recommend.

Show 80 more reviews
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.

The basics

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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