First Option Low-Rate Visa Credit Card
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CardIQ
Strong
Overall score, out of 100 · How this works
- First timer76
- Low rate71
Customer reviews
No reviews yet. Be the first to review the First Option Low-Rate Visa Credit Card.
Pros & cons
What's good
- The 10.49% p.a. purchase rate is among the lowest ongoing purchase rates (the median card charges 18.99% p.a.).
- 2% foreign transaction fee, below the 3% most cards charge.
- No fee to add an additional cardholder.
Worth noting
- Earns no rewards points on spending.
- No balance transfer or introductory purchase offer.
Card details
The basics
- Additional cardholder fee
- $0 p.a.
- Card tier
- Standard
- Card type
- Visa
- Card use
- Personal
- Credit limit
- $500 – $25,000
- Credit rating
- Good
- Rewards program
- None
Eligibility
- Instant approval
- No
- Joint application
- No
- Minimum age
- 18 years old
- Minimum income
- Not specified
- Residency
- Australian citizen or permanent resident
- Temporary residents
- Not eligible
Rates & fees
Ongoing interest rates
- Cash advances
- 17.99% p.a.
- Purchases
- 10.49% p.a.
Fees
- Additional cardholder fee
- $0
- Annual fee
- $48 p.a.
- Cash advance fee
- —
- Foreign transaction fee
- 2%
- Late payment fee
- $0
Repayments
- Interest-free period
- Up to 45 days on purchases
- Minimum repayment
- 3% of the closing balance or $25, whichever is greater
Balance transfers
This card has no promotional balance transfer offer. To move existing debt to a lower rate, compare balance transfer cards.
Introductory purchase offer
This card has no introductory purchase rate offer. If you're carrying a balance or planning a big spend, compare 0% purchase cards.
Rewards
This card doesn't earn rewards points. It focuses on a low cost of ownership instead. If earning points matters to you, compare frequent flyer cards and rewards cards.
Where this card sits vs similar cards
Compared with every other personal credit card we list that has the feature. The further right the dot, the better this card does.
Data as at August 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.
Compare side by side
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Browse by card type
Compare the First Option Low-Rate Visa Credit Card against every other card in its category.
Questions and answers
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Sources
- Credit Card Compare
- Australian credit card statisticsHow CardIQ scores cards
- Issuer
- First Option Bank