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Great Southern Bank Low Rate Credit Card

Get a low interest rate of 11.99% on purchases and save with a $0 annual fee for the first year.

The Great Southern Bank Low Rate gives you a way to consolidate existing credit card debt, with 0% p.a. on balance transfers for the first 25 months and no balance transfer fee.

When you apply as a new customer, you’ll also enjoy a first-year annual fee waiver (normally $49 p.a.).

Great Southern Bank was previously known as CUA, and rebranded on 1 June 2021. It is still Australia’s largest customer-owned bank and has been running for 75 years

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Amy Bradney-George

Last Updated May 7, 2021

0% p.a.

Balance transfer rate

for 25 months

11.99% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($49 p.a. thereafter)

55 days

Interest free period

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Details

Product Name	Great Southern Bank Low Rate Credit Card
Balance transfer rate	0% p.a. for 25 months
Balance transfer revert rate	Cash Advance Rate (21.74% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	11.99% p.a.
Annual fee	$0 annual fee for the first year ($49 p.a. thereafter)
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.74% p.a.
Min credit limit	$500
Card type	Mastercard
Foreign currency conversion fee	3.4%

Available to temporary residents	No
Joint application	No

Pros

$0 annual fee for the first year ($49 p.a. thereafter).
0% for the first 25 months, with no balance transfer fee
A low variable rate of 11.99% p.a. applies on purchases

Cons

This credit card is not linked to any rewards program.

Bonus points	N/A

Annual fee	$0 annual fee for the first year ($49 p.a. thereafter)
Minimum monthly repayment	3% of the closing balance or $35, whichever is greater
Late payment fee	$12.50
Foreign currency conversion fee	3.4%
Cash advance fee	2% or $3.50, whichever is greater
Number of additional cardholders	9

Go to Great Southern Bank's site More info

Review by

Amy Bradney-George

[email protected]

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Great Southern Bank Low Rate credit card features a 11.99% p.a. purchase rate that is on par or slightly lower than some of the other cards in this category. Its annual fee is also competitive for this category, with a $0 fee in the first year and $49 p.a. per year after that. An added bonus for tech-savvy shoppers is that it’s compatible with both Apple Pay and Google Pay, allowing you to tap and pay with your smartphone.

If you want to pay off your existing credit card debt, the Great Southern Bank Low Rate’s balance transfer offer gives you an introductory rate of 0% p.a. for 25 months when you request a balance transfer within the first 3 months you have the card. This is different to the many balance transfer offers that are only available if you request a balance transfer at the time of your application.

However, as the Great Southern Bank Low Rate does not have the longest balance transfer offer on the market, it’s worth thinking about whether you will be able to pay off your debt within the introductory period. If you can’t, an interest rate of 21.74% p.a. will apply after the first 25 months.

How to apply

If you've compared your options and decided on the Great Southern Bank Low Rate Credit Card, you can apply online by filling out a secure application form. Get started by checking the following eligibility criteria and making sure you have all the details and documents needed for the application.

Eligibility criteria

Residency. You must be an Australian citizen or permanent resident with an Australian residential address.
Age. You must be at least 18 years old to apply.

Bankruptcy status. You must not currently be bankrupt.

Required documents

Personal information. This includes your full name, date of birth, residential address, email address and contact number. You'll also have to provide a valid form of ID such as your driver's licence, passport or Medicare number.
Employment details. This covers details of your current employment situation, including your role, salary and employer's contact information. You also need to provide documents that verify these details, such as recent payslips or a PAYG payment summary from your employer.
Financial information. This includes income from other sources, assets such as savings accounts and existing debts you may have from other cards, loans or mortgages. You'll also need to provide details of your household expenses such as rent, grocery shopping and transport costs.
Balance transfer details. This covers details of the debt you want to transfer, including the account name, account number, BSB and the total balance that you want to transfer. Note that you can request a balance transfer worth up to 80% of your available credit limit from Australian credit cards not issued by Great Southern Bank.

Go to Great Southern Bank's site More info

Card benefits

$0 annual fee for the first year. After the first 12 months, an annual fee of $49 p.a. will apply for this card.
Balance transfer offer. This card offers an introductory 0% p.a. interest rate for 25 months on balance transfers from Australian credit cards not issued by Great Southern Bank. At the end of the introductory period, any outstanding balance from balance transfers will attract interest at the card's cash advance rate of 21.74% p.a. If you are paying off a balance transfer, be aware that you won't be eligible for interest-free days on new purchases.

Competitive purchase rate. If you shop with this card and carry a balance, 11.99% p.a. interest rate applied to purchases could help you save on interest charges compared to cards with higher interest rates.
Mobile payments. You can add this card to your Apple Pay or Google Pay wallet to make tap and go payments straight from your eligible mobile phone or device.
Mastercard benefits. Enjoy exclusive travel, entertainment and retail offers around the world through Mastercard Priceless Cities, as well as the retail offers listed on the Mastercard Australia website.

Rates & fees

Interest-free days. If you pay your account's closing balance in full by the due date on each statement, you can take advantage of up to 55 interest-free days on purchases.
Cash advance rate. If you use this card to withdraw cash or for any other cash advance transaction, an interest rate of 21.74% p.a. will apply from the date of the transaction.

Overseas transaction fee. A fee of 3.4% of the amount applies to each transaction you make overseas or online in a foreign currency.
Internet and mobile banking. Keep track of transactions, set up SMS alerts and manage other account features through Great Southern Bank Internet or mobile banking.

Go to Great Southern Bank's site More info

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16 Comments

Barry
September 27, 2019

Can a cash advance be made into my CUA only account?

Nikki
September 28, 2019

Hi Barry,

Thanks for getting in touch! Yes, the CUA Low Rate Credit Card offers cash advances. Note that there is a Cash Advance Rate 21.74% p.a. and a Cash Advance Fee of 2% or $3.50, whichever is greater.

Hope this helps!

Best,
Nikki

Ken
July 28, 2017

Hi, I have an existing CC debt that is about 1 month overdue and I have been having trouble keeping payments up. I was unemployed up until a year ago for two years and during this time I struggled with various payments. I am now employed full time with a good salary, what will be taken into account if all I want to do is transfer the balance to be able to pay off the debt.

Hopefully,
Ken

finder Customer Care

Rench
July 28, 2017

Hi Ken,

I’m sorry to hear about your credit card debt but I’m glad to know that you’re now employed full time.

Regarding your enquiry, please read through the guide found on this page and you’ll know more about what you need to do to get approved for the CUA low rate credit card. To give you an overview, You must be an Australian citizen or permanent resident with an Australian residential address. You must be at least 18 years old to apply. Moreover, You must not currently be bankrupt.

Feel free to read through our list of balance transfer credit cards as well for more options. I recommend that you check the details of the credit card you’re interested in, its eligibility criteria as well as the Product Disclosure Statements/Terms and Conditions before you apply.

Also if you can, contact first the issuing bank and discuss your options and chances of approval before you send anything final for your application. Just apply for one credit card at a time and ensure your eligibility before submitting your final application. This way you can avoid credit enquiries on your file.

I hope this helps.

Cheers,
Rench

Liv
June 21, 2017

Hi, I am just wondering if the balance transfer offer allows me to transfer the balance of my husband’s existing credit card?
Kindest regards,
Liv

Jonathan
June 22, 2017

Hi Liv!

Sounds like a plan for me! Most banks will allow you to do this, and some may require you to have your husband’s name included as an additional cardholder or simply a joint card type.

You can read our guide on balance transfers with joint primary cardholders guide to help you better understand how this is done. If you wish to apply, select the “Go to Site” button of your chosen issuer to proceed with your application.

Hope this helps.

Cheers,
Jonathan

Ella
June 20, 2017

I’m currently receiving Disability Pension, Family Tax A and B and Child Support. I am a single parent with two children. Does CUA accept these as an income? I want a credit card for emergency/piece of mind reasons. I was told that CUA accept certain pensions as income. I don’t want to apply if my government income is not going to be accepted. Cheers!

Jonathan
June 21, 2017

Hi Ella!

CUA Credit Card application would require you to submit a proof of income. In your case, you may submit the following as verification documents:
– Your recent Centrelink benefit statement or
– Your personal tax return for the last 2 years or
– Your pension/annuity statement or
– Your recent Financial Institution statement showing one month of benefit receipts or
– Letter from your financial planner advising of current/planned superannuation drawings

Hope this clarifies.

Cheers,
Jonathan

amit
May 5, 2017

Hi is there any balance transfer fees in this card?

finder Customer Care

Harold
May 5, 2017

Hi Amit,

Thank you for your inquiry.

With CUA Low Rate Credit Card you can take advantage of this card’s special introductory rate of 0% p.a. on balance transfers that will stay in place for 13 months. At the end of the introductory period, any outstanding balance from balance transfers will attract interest at the card’s cash advance rate.

I hope this information has helped.

Cheers,
Harold

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