Heritage Bank Gold Low Rate Card Review (2026)
Rates and details verified 18 May 2026
Rates can change without notice. Last verified: 18 May 2026 (AEST). Please confirm details on the bank’s official page.
Purchase rate
11.8%
p.a. ongoing
Annual fee
$0
no annual fee
Balance transfer
0%
12m, no BT fee
About Heritage Bank Gold Low Rate
Heritage Bank is one of Australia's largest customer-owned mutual banks, headquartered in Toowoomba, Queensland, with over 140 years of history. As a mutual, it is owned by its members, not external shareholders. It is regulated by APRA.
The Gold Low Rate card is notable for combining three features rarely found together: a low ongoing purchase rate (11.8% p.a.),no annual fee, and a 0% balance transfer for 12 months with no BT fee. Most balance transfer cards charge 2–5% to transfer — Heritage Bank charges nothing.
Key Rates and Features
| Feature | Detail |
|---|---|
| Purchase rate | 11.8% p.a. |
| Annual fee | $0 |
| Balance transfer rate | 0% p.a. for 12 months |
| Balance transfer fee | 0% — no BT fee |
| BT revert rate | 11.8% p.a. (purchase rate) |
| Interest-free days | Up to 55 days |
| Rewards | No rewards program |
Rates as at 18 May 2026. Check Heritage Bank's website for the latest.
Pros and Cons
Pros
- ✓ $0 annual fee
- ✓ 0% BT for 12 months with no BT fee — rare
- ✓ Low ongoing purchase rate (11.8%)
- ✓ Customer-owned mutual bank
- ✓ Visa — accepted widely
Cons
- ✗ BT period only 12 months (vs 24–26m elsewhere)
- ✗ No rewards program
- ✗ Less widely known than big-four banks
How It Compares
- Amex Low Rate: 10.99% p.a., $0 fee, no BT — lower rate, no BT
- Heritage Bank Gold: 11.8% p.a., $0 fee, 0% BT 12m, 0% BT fee — best all-round no-fee card
- ANZ Low Rate: 13.74% p.a., $58 fee, 0% BT 26m, 3% BT fee — longest BT period
- Bankwest Breeze: 12.99% p.a., $49 fee, 0% BT 24m — lowest rate with long BT
→ Compare all balance transfer cards · → Compare all no annual fee cards
FAQs
What is Heritage Bank Gold Low Rate's purchase rate?
11.8% p.a. ongoing, with no annual fee.
Is there a balance transfer fee?
No — Heritage Bank charges 0% to transfer, which is unusual. Most cards charge 2–5% of the transferred amount.
Is Heritage Bank a real bank?
Yes — Heritage Bank is an APRA-regulated Australian mutual bank with over 140 years of history and one of the largest customer-owned banking groups in Australia.
Information verified 18 May 2026. Rates and fees subject to change. Confirm current terms on Heritage Bank's website before applying. This is not financial advice.