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Press Release-Credit Card Rate Cut by 3.74%

Written by Claudia York

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Maritime, Mining & Power Credit Union slashes Visa credit card rate by 3.74%p.a.

Maritime, Mining & Power Credit Union has again broken ranks with other financial institutions, announcing today it has cut the interest rate on its Visa credit card by almost 4% to just 10.45%p.a., effective immediately.

The new rate, down from an already-low from 14.19%p.a., is one of the lowest credit card rates currently available in Australia. In fact our new rate is over 10% lower than the rate being charged by the vast majority of 55 days interest free credit cards on the market today.

“Our low interest rate credit card product offering is second to none, and applies to existing and new card holders,” said Maritime, Mining and Power Credit Union’s Chief Executive, Mark Genovese.  “We’re delighted to be able to offer such a great interest rate deal, especially at a time when many consumers are doing it tough due to the current economic conditions.”

Unlike most other cards, the Maritime, Mining and Power Credit Union credit card offers 55 days interest free on all purchases. In addition, new card holders will have the annual fee waived for the first year and receive an introductory rate of 7.99% for the first six months on all transactions, including balances transferred from other credit or store cards.

“By delivering a great value product such as this, consumers will benefit by saving money,” Mr Genovese added. “It also brings much-needed competition to the credit card space where consumers are paying rates as high as 21%.”

The credit card, which has a Canstar Cannex Five Star rating, is available to any person working in the Maritime, Mining and Power industries. It is also available to anyone in Australia through the Reliance Credit Union and Gosford City Credit Union, which serve the Central West of NSW and Central Coast.

For more information about our Visa Credit Card please click here.

Visa Low Rate Credit Card