Heritage Bank Credit Card: A Complete Guide to Visa Platinum and More

Heritage Bank offers a range of credit cards, but one of the most popular is the Visa Platinum card.

This card comes with a generous interest rate of 12.99% p.a. and no annual fee, making it an attractive option for those who want to avoid extra charges.

The Heritage Visa Platinum card also offers a 55-day interest-free period, which is a great feature for those who want to pay off their balance in full each month.

With a credit limit of up to $20,000, this card is suitable for those with a good credit history who want to make large purchases or consolidate debt.

Consider reading: Us Bank Credit Card Offers like Chase Offers

The Heritage Bank Visa Platinum Credit Card offers a range of benefits, including interest-free days and 0% interest balance transfers.

You can shop in person or online both in Australia and while travelling overseas with this card.

The card also provides Platinum Insurance coverage, which can be a lifesaver in case of unexpected events.

One of the standout features of this card is its rewards program, which allows you to earn Heritage Credits on your eligible spend.

These credits can be redeemed for home and lifestyle products or gift cards, both physical and digital, via the Heritage Credits Portal.

The Visa Offers + Perks benefit linked to the card may also reward you with exclusive presales, offers, giveaways, or other benefits.

You can earn Heritage Credits through special promotions and at membership anniversaries, making it a great way to accumulate rewards over time.

To be eligible for a Heritage Bank credit card, you must meet certain requirements. You must be at least 18 years of age.

A credit check will also be performed as part of determining eligibility. This is a standard practice for many financial institutions.

To apply for a Heritage Bank credit card, you'll need to lodge an enquiry with them online. This involves providing some basic information such as your date of birth, residency, employment status, and preferred contact number.

Here are the eligibility requirements in detail:

To be eligible for a Heritage Bank Visa Platinum Credit Card, you must be at least 18 years old.

You'll also need to be an Australian citizen or permanent resident, which is a requirement for this credit card.

Heritage Bank performs a credit check as part of determining eligibility, so make sure you're aware of your credit history.

To be eligible, you must not be currently bankrupt or in a Part 9 debt agreement.

You'll also need to have a clean credit history, with no more than 5 loans or credit products applied for in the past 6 months.

Here are the specific eligibility requirements in a nutshell:

If you're wondering how long it takes to get your Heritage Bank Platinum Credit Card, you'll have to speak with a representative directly at the time of application. They'll be able to provide you with more information.

There is currently no clear advice on Heritage Bank's website regarding the availability of physical Platinum Credit Cards to approved applicants.

Check this out: Heritage Federal Credit Union Online Banking

The Heritage Bank Visa Platinum Credit Card comes with a range of fees and rates that you should be aware of. Here are the key ones to know.

Maintenance fees are charged annually, amounting to AUD$125 unless you make AUD$35,000 of approved Visa spend. This fee is waived if you meet this spending threshold.

The card also charges a late repayment fee of AUD$20, so be sure to make your payments on time. Additionally, there's a 2.00% foreign transaction fee, with a minimum fee of $2.50, which applies to both local and foreign ATM withdrawals.

Interest rates on the card are 17.99% p.a. on purchases and 19.99% p.a. on cash advances. This is higher than some other credit cards on the market.

Here's a summary of the key fees and rates:

The fees associated with credit cards can be a real surprise. The Heritage Bank Visa Platinum Credit Card is no exception, with various fees applying both in Australia and overseas.

One of the main fees to consider is the annual maintenance fee, which is AUD$125 unless you spend at least AUD$35,000 on approved Visa transactions.

The interest rates on the card are also worth noting, with a purchase rate of 17.99% p.a. and a cash advance rate of 19.99% p.a.

Late repayments will incur a fee of AUD$20.

If you need to withdraw cash from an ATM, you'll be charged a fee of 2.00% of the withdrawal amount, with a minimum fee of $2.50. If you're withdrawing overseas, a foreign exchange fee of 3.00% of the transaction amount will also apply.

Here's a summary of the main fees associated with the Heritage Bank Visa Platinum Credit Card:

It's worth noting that additional cardholders are also subject to a fee, with the first two cards being complimentary and subsequent cards costing $7.50 each.

The Visa Platinum rate can be a costly affair, especially when making transactions overseas. This rate is determined by Visa International and includes a margin taken by them as a facilitator of the transaction.

Additional reading: Caisse Desjardins Visa

Spending USD$1000 using Visa's exchange rate can cost you a whopping $1,517.67 AUD. This is significantly higher than the mid-market rate used by Wise, which would only cost you AUD$1501.68.

The difference between the two rates is approximately AUD$16, which is charged in addition to any other transaction fees. This can add up quickly, so it's essential to be aware of the costs involved.

The Classic Visa Platinum is a premium card that offers a range of benefits, including interest-free days and 0% interest balance transfers. It also comes with Platinum Insurance coverage, which can provide peace of mind when shopping in person or online.

To get the most out of this card, you'll need to meet the $25,000 minimum annual spend, which will unlock the rewards program and make the card more rewarding. Meeting this threshold will also help you earn something back on your card spending.

If you're not planning to spend at least $25,000 per year on the card, you might want to reconsider, as the spend will not offer enough value to cover the annual fee.

Consider reading: Will Bank of America Reopen a Closed Credit Card Account

The Heritage Bank Visa Platinum Credit Card offers a rewards program that's worth exploring. You can earn Heritage Credits on your eligible spend, which can be redeemed for home and lifestyle products or gift cards through the Heritage Credits Portal.

To earn these credits, you'll need to meet certain conditions, but the rewards can be substantial. For example, a spend of $41,600 equals one $50 gift card, which is slightly less than the annual fee.

The rewards program is separate from the Visa Offers + Perks benefit, which provides exclusive presales, offers, giveaways, or other benefits. These perks are managed by Visa, not Heritage Bank.

One thing to keep in mind is that you can't transfer your Heritage Credits to a preferred frequent flyer program at this time.

Expand your knowledge: Credit Union Visa Cards

The Heritage Bank Classic Credit Card is a great example of a classic card that earns rewards on its own rewards program. You can redeem your rewards for a variety of things, from homewares and technology to sports equipment and gift cards.

If you spend at least $25,000 each year on the card, you'll pay no annual fee. This is a significant perk, especially if you already use your credit card for most of your purchases.

You'll get up to 55 days interest free on purchases, which is a great incentive to pay off your balance by the due date. This way, you won't have to worry about the purchase rate affecting you.

As long as you meet the $25,000 spending requirement, you can effectively earn rewards for free. This makes the Heritage Bank Classic Credit Card a solid choice for those who want to maximize their rewards earnings.

Related reading: Free Savings Account Credit Union

If you want to earn something back on your card spending, the Heritage Bank Classic Credit Card is a good option. However, think about how much you'll spend on the card before you apply.

Meeting the $25,000 minimum annual spend will make the card much more rewarding.

A spend of $41,600 equals one $50 gift card, which is slightly less than the annual fee.

If you're considering applying for a Heritage Bank credit card, you'll want to know how they stack up in terms of customer satisfaction. Overall, Heritage Bank credit cards have a customer rating of 4.1 out of 5.

Heritage Bank credit cards have a strong reputation for trust, with a rating of 4.1 out of 5. This suggests that customers feel confident in the bank's ability to manage their financial information.

The convenience of Heritage Bank credit cards is also a major selling point, with a rating of 4.1 out of 5. This means that customers can easily manage their accounts and make payments online or through the bank's mobile app.

However, some customers may find the features of Heritage Bank credit cards to be lacking, with a rating of 3.5 out of 5. This could be due to a lack of rewards programs or other benefits that are commonly offered by other credit card providers.

Here's a breakdown of the overall customer rating for Heritage Bank credit cards:

The annual fee of AUD$125 applies unless you spend over AUD$35,000 annually on approved Visa purchases.

This fee might be a significant drawback for many users, especially those who don't meet the high spending threshold.

Earning rewards can take some time, depending on your typical spend. You'll need to spend at least $1,500 per calendar month to earn just 3 Heritage Credits.

To give you a better idea, a Coles $50 eGift card is valued at 32 credits. This means you'd have to spend around $16,000 on your card to be eligible for this reward.

You might enjoy: Vanguard Personal Advisor Services 500 000