- 0% interest for 6 months on balances transferred from other credit cards
- Up to 55 days interest-free credit on purchases
- Low account fee $15 per six months
As the name suggests, the TSB Visa Classic Credit Card is a classic card, offering basic features in return for a modest annual account fee. Cardholders can enjoy access to credit throughout the extensive Visa network, as well as Visa features such as Visa payWave, and up to 55 days interest free on purchases.
One of the first things you may notice about the TSB Visa Classic Credit Card is its low annual account fee. While paying no annual fee is certainly nice, paying a low annual fee is acceptable if you like the card in question. With this card, you can keep ongoing costs down with a low account fee, payable every six months.
And if you want to add family members to the account? Joint and additional cardholders are charged a nominal account fee, again paid every six months. This can work well for cardholders who want to provide family members with access to credit, while keeping a close eye on their spending. With just one card account to keep track of, this can make family accounting much easier to deal with.
If you need to transfer balances from other credit cards, you can get 0% for 6 months on the balance transferred. After the 6 month period ends the rate reverts to 18.50%.
In terms of interest, it’s worth noting that the TSB Visa Classic Credit Card is not a low rate card. While its purchase rate is not as high as some cards in the market – typically rewards cards and prestige cards hold this honour – it’s not as low as many low rate cards. This makes it important not to carry a balance if you want to keep costs at a minimum.
However, for cardholders who pay off their balance each month, the card does offer some incentive, with up to 55 days interest free on purchases. This offers some breathing room when spending day to day, allowing you to buy the things you want now, to pay them all off before interest starts accruing.
And while features on this card are minimal, there is one nice extra to note. Having worked closely with the Blind Foundation, TSB have added braille to the TSB Visa Classic Credit Card, making it easier for vision impaired cardholders to identify the card in their wallet, as well as its orientation when using it.
Having already discussed the purchase rate on this card, there is not much to complain about. As long as you understand what this card has to offer – basic features for a low account fee – it could work well for the right cardholder. Obviously, cardholders who want more in the way of features, such as the opportunity to earn rewards, will need to look elsewhere.
It is worth bearing in mind though, that to apply for a TSB Visa Classic Credit Card, you need to have a TSB account in your name. While this is easily set up – and free, if you choose the right account – it may be annoying for some cardholders who simply want the credit card and not the account.
There’s no hiding it, the TSB Visa Classic Credit Card is a basic card with absolutely no frills. So, why would you want this card in your wallet? A card such as this can benefit many types of cardholder, as long as they want a simple card that works to keep costs down. With its low account fee, it could appeal to money savers – as long as they pay off their balance before it starts accruing interest. It may also appeal to cardholders who simply don’t need an excess of features, who just want access to credit in an easy, low cost package.
The TSB Visa Classic Credit Card offers an average purchase rate and a modest annual account fee, with up to 55 days interest free on purchases, and an uncomplicated manner.
Purchase rate 18.50% p.a.
Cash advance rate 18.50% p.a.
Interest free on purchases up to 55 days
Balance transfer rate 0% p.a. for 6 months
Balance transfer revert rate 18.50% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee.
Balance transfer limit N/A
Banks you can't balance transfer from TSB
Minimum credit limt N/A
Maximum credit limit N/A
Annual fee $30 p.a.
Additional card holder fee N/A
Foreign transaction fee N/A
Cash advance fee N/A
Late payment fee N/A
Overseas travel insurance No
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Permanent Resident or New Zealand Citizen
Minimum income of $18000 p.a.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
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