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Credit Card Changes from 1 July 2019

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Please note the following changes to First Option Credit Cards from 1 July 2019.

Since the Government introduced a number of Credit Card reforms (effective from 1 January 2019) First Option has been monitoring the impacts of these reforms on members and their accounts.
As a result, First Option Bank will be making the following changes from 1 July 2019.

Features Low Rate Credit Card Cash Rewards Credit Card
Interest rate on purchases 9.99%pa 17.99%pa
Interest rate on cash advances 17.99%pa 17.99%pa
Cash Rewards n/a $1 for every $250 spent
Interest free period up to 45 days up to 45 days

Note: If you have an automatic Credit Card payment set up for the 25th of each month, please change it to the 15th of each month, starting from 15th August 2019.


  • One of the lowest rates in Australia
  • No fee for additional cardholders
  • Accepted worldwide
  • Visa payWave for faster purchases
  • Add card to your smart phone or watch using Apple Pay, Google Pay or Samsung Pay
  • Serviced by our team in Australia
  • No late payment fee
  • 24x7 transaction monitoring