Changes to credit cards

We’ll be making some changes to our Low Rate Credit Cards. 

What’s changing?

Effective from 1 August 2026, we’ll be making the following changes: 

The interest rate will change The credit card interest rate on retail purchases, cash advances and balance transfers will increase to 9.99% p.a. If credit card account holders have a discounted Balance Transfer offer in effect and applied prior to 1 June 2026, it will not be impacted. Please note that once the balance transfer offer period expires, any outstanding balances will incur the cash advance interest rate.

Transfers via the New Payments Platform will no longer be eligible for up to 55 interest free days When you transfer money from your credit card account to another account, including via the New Payments Platform (i.e. Osko, PayID and PayTo), these transactions will now incur cash advance interest as they are not card purchases.  This means they will accrue interest at the cash advance rate (currently the same as the purchase rate) from the date of the transaction and won’t be eligible for an interest-free period.  Please note that a $2 fee applies to account-to-account transfers and Domestic Cash Advances. Refer to our Fees and Charges schedule for more information.

A fee will apply to new balance transfers A fee of 2% of the balance transfer amount will apply to any balance transfer requests made on or after 1 August 2026. This is payable on the day we process the balance transfer. This does not apply to balance transfers already in effect.

Our commitment to value and care

Like all financial institutions, Community First periodically reviews its rates and fees to reflect the true cost of delivering our products and services. These costs have grown over time, driven by increased regulatory requirements, system maintenance, increased fraud monitoring and ongoing investment in the payments infrastructure that keeps your card secure and up to date.

It’s important to note that our credit card interest rate remains one of the lowest ongoing credit card rates in Australia. We understand an interest rate increase is never a welcome change. However, Community First has not changed the credit card interest rate in over 10 years, despite increases to costs. As a member-owned organisation, we’re committed to balancing affordability with the long-term sustainability of the products we offer our members.

We remain committed to providing our members and communities with value. Our Pink and Blue credit cards will continue to raise money for the McGrath Foundation and Prostate Cancer Foundation of Australia to help make a difference in the lives of families experiencing cancer.

Experiencing financial difficulty?

If you’re struggling to stay on top of your credit card payments, help is available. Reach out to us early so we can work through a plan together. You can also find more information on our website at www.communityfirst.com.au/support/financial-hardship.  

Have any questions?

If you have questions about this change or would like to discuss ways to manage your card, reach out to one of our team on 1300 13 22 77 or visit your nearest Community First branch.

Frequency Asked Questions (FAQs)

Why is my rate increasing?

Like all financial institutions, Community First periodically reviews its rates and fees to reflect the true cost of delivering our products and services. These costs have grown over time, driven by increased regulatory requirements, system maintenance, increased fraud monitoring and ongoing investment in the payments infrastructure that keeps your card secure and up to date.

It’s worth noting that Community First has not changed the credit card interest rate in over 10 years, and your rate remains one of the lowest ongoing credit card rates in Australia. As a member-owned organisation, we’re committed to balancing affordability with the long-term sustainability of the products we offer our members. 

What does this interest rate change mean for me?

If you carry an average outstanding balance of -$2,000 on your credit card each year, this interest rate change means your minimum repayment will increase by less than $2 per month. Remember, interest is only calculated on daily outstanding balances. 

What is Osko and NPP?

Osko by BPAY® is a near real-time payment. The service is built on the New Payments Platform and enables fast payments to a PayID or an eligible BSB and account number. 

Why are Osko and NPP payments no longer eligible for interest free days?

Osko and NPP transactions are account-to-account transfers, not card transactions. Therefore, from 1 August 2026 we’ll be applying cash advance interest to these transactions to align with industry practice.

Please note that a $2 fee applies to account-to-account transfers and Domestic Cash Advances. Refer to our Fees and Charges schedule for more information.

Are there interest-free periods on cash advances?

No, there is no interest-free period on cash advances. 

What if I have a balance transfer offer in progress?

If a discounted Balance Transfer offer is in effect, it will not be impacted. Please note that once the balance transfer offer period expires, any outstanding balances will incur the cash advance interest rate. These changes will only apply to new balance transfer requests made on or after 1 August 2026.

Where can I find information on my credit card? 

You can find information relating to your credit card either within Internet Banking or by accessing our Mobile App. 

If you would like to register for Internet Banking or the Mobile App, give us a call on 1300 13 22 77 or visit your local Branch.