... must ... resist ... "we'll save you" jokes ...
The Aussie MasterCard a simple, no-frills credit card with a low interest rate (9.99% for the first twelve months, 13.29% thereafter), a low annual fee ($49) and 55 days interest free - a tick in every box for students and the budget conscious.
Aussie are also currently offering 2.99% on balances transferred for the first twelve months, which is an excellent offer for such a cheap card.
The cash rate is, predictably, higher than the purchase rate. You'll incur 19.99% interest on any cash advances, which is actually lower than other affordable cards like the
BankWest Lite MasterCard. In case you needed more disincentives for getting cash out on your credit card you'll also be charged a cash advance fee of 2% or $4 (whichever is higher), although Aussie are quick to point out that if your account is in credit, you'll only be charged the fee on any amount which brings your balance into debit.
Late payment fees and over-limit fees are both $35, which is fairly standard. They're both easy fees to avoid.
Some of the other fees seem a little high, but they're unlikely to occur for most customers. Requesting a duplicate statement will cost you $14, payment dishonours are $12 and a priority reissue of a card will cost $50. Again, these are easy fees to avoid.
You can request additional cards, but they'll cost you $10 per month each.
There is no rewards program. Aussie states they've left it out so the card will be cheaper, which it certainly is. For most people in the card's target market, the absence of a rewards program is unlikely to be a strong deterrent.
Bottom line: Low purchase rate, low annual fee, interest free days and no rewards program.
