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Travelling? Make it easier with Horizon Bank's Low-Fee Credit Card. With the Canstar five-star rating, you can be sure that you’re getting the best value for your money when travelling! Our low-fee credit card offers competitive interest rates and reliable backup when abroad, giving you peace of mind while on holidays or business trips. Take advantage today and get more freedom in your travels and make life simpler by taking control with Horizon Bank's Low-Fee Credit Card. For business travellers and those who frequently travel for pleasure, it can be difficult to keep track of your expenses and make sure you’re getting the best value for your money. Horizon Bank understands that and offers its customers a low-fee credit card with a Canstar five-star rating, ensuring that you get the most out of your travels without breaking the bank. Benefits of Low-Fee Credit Cards Horizon Bank's Low-Fee Credit Card comes with a number of benefits that will make travelling easier and more affordable. First, by eliminating costly foreign transaction fees, you can access hundreds of locations worldwide without worrying about ATM withdrawals. Additionally, this card offers competitive interest rates so you can save money on travel expenses while abroad. When travelling abroad, security is always a concern. With Horizon Bank's Low-Fee Credit Card, you get added protection against fraud and theft with multi-layered security measures such as chip technology and secure encryption software that keeps your information safe from hackers. The card also includes 24/7 fraud monitoring so you can rest assured that all transactions are being monitored closely for any suspicious activity. Make every journey hassle-free with Horizon Bank's Low-Fee Credit Card! Don’t wait any longer - take control today and start making life simpler while travelling smarter with our low-fee credit card. To learn more, enquire online today or pop into one of our local branches, located along the NSW South Coast. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.

What is a credit card? A credit card is a continuing line of credit used to make everyday purchases. They come with interest free periods which is a great way to take advantage of buying now and paying later. What is an interest-free period? The interest-free period is the number of days from the day of purchase to the payment due date. This period will vary depending on the date of purchase and the number of days in the months applicable. An example is provided below.  Our credit card offers up to 55 days interest free on all purchases made. Interest only applies if payment isn’t made in full. Why would I use a credit card? Credit cards can be used for every day purchases such as groceries and petrol or for larger purchases like a new TV. They’re also used for overseas travel and use in motels, hotels and cruising. What types of credit cards are there? There are many different types of credit cards available. When looking for a credit card, consider the following:  Introductory rates  Standard interest rate  Annual fee  Card fees Some credit cards come with reward points which can be an effective way to benefit from regularly using your card. Used the right way, credit card rewards can earn you points to go towards your groceries, gift cards or even flights and a holiday. However, these credit cards generally carry a higher annual fee and/or purchase interest rate. Before signing up to one, it’s important to understand how they work and whether the ability to earn rewards points will make any extra costs worthwhile. If you’re not interested in earning reward points, a low rate credit card may better suit your needs. Horizon Bank offers a low rate credit card because we have our customers best interests at heart.​ What documents are required for a credit card application? Payslips and other sources of income are usually required, plus any evidence of debts and liabilities.When you apply for a credit card, your lender will discuss with you what is required for your application. Talk to a Horizon Bank lending specialist about applying for a credit card today. Or you can check out our budget planner calculator to see how credit card repayments will fit in with your expenses. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank. 

What’s the difference between a debit card and credit card? A debit card provides access to your own money held in a transaction account. A credit card is a loan provided by your bank that gives you access to funds or ‘credit’. This becomes a debt and you will need to repay the minimum balance each month. Spending your own money versus the banks is one of the key differences between a debit card and a credit card. Find out more about our low rate Visa credit card, or to easily access your own funds, check out the features of our Visa debit card. How Do Debit Cards Work? Debit cards are used to access funds directly from the account they are linked to. You can only spend what is in your account. For example - if you try to spend $500 but only have $250 in your account, your transaction will be declined. You’ll need to keep an eye on your balance, as you might face overdrawn fees if you try to spend more money than is in your account. Debit cards can be used to withdraw cash directly out of your bank account at ATMs. Know your transaction fee allowance to avoid any unnecessary costs prior to withdrawing money. You can be confident that our debit card offers security from Visa, so you can make secure purchases at the counter or online. You can easily apply for a Visa debit card from Horizon by calling or visiting any of our branches. You can also apply for a Visa debit card online and one of our friendly staff will process your application. A feature of our debit card is having access to an overdraft facility. You can apply for an overdraft which will provide you access to extra funds in case of emergency. This is a form of credit that will need to be paid back monthly. How Do Credit Cards Work? Your credit card, unlike a debit card, is a loan. When you apply for a credit card, you're approved for a certain amount, which is an ongoing line of credit. The amount you’re approved for is known as your credit limit and it’s how much you can spend before your card is ‘maxed out’. If you reach this threshold, you won’t be able to make any further purchases until you make a credit card repayment. Each month, you'll receive a statement from us which will include: Your opening credit card balance Total amount spent on purchases The total amount of cash advances Payments, refunds and other credits Total interest charged Fees and charges – for example, any late payment fees Your closing balance When making a repayment, you’re required to cover the minimum payment (and not the whole balance) however you'll typically pay higher interest on your closing balance in the long term. To easily manage repayments, set up a regular direct debit to your credit card account to avoid a late payment fee. You could also ask us to set up a payroll split, so when your pay comes in, a portion will go directly to your credit card. Read our blog on how credit cards work which includes tips on how to use one effectively. You can apply for a Visa credit from Horizon by calling or visiting any of our branches. You can also apply for a Visa Credit Card online. What about security? We take the security of your funds very seriously. If you suspect a fraudulent transaction on any of your accounts, please notify us immediately. Taking control of card security is also in the palm of your hands. You can lock or unlock your card from within Horizon’s mobile banking app. Locking your card suspends any further transactions from occurring until you unlock it again from within the app. You can also report your card lost or stolen from here as well and we will order you a replacement. Shopping online is secure as Visa has developed a program that helps confirm your identity when you make an online purchase. During an online purchase from your desktop, mobile or other digital devices, you may be guided through an extra check to verify your identity. This helps us ensure it is you making the purchase and better protects you from fraud. This is the one way Horizon Bank and Visa have teamed up to secure your account(s). Which is better?  Whether you choose a debit or credit card is a matter of personal preference in how you prefer to spend your money. At the end of the day, a debit card is your own money and a credit card is a loan from your bank or financial institution. If you believe you can manage the repayments on a credit card, then use our budgeting calculator to see how repayments will fit into your spending. A debit card will always be you spending your own money, however, you can apply for an overdraft to have access to extra funds in case of emergency.   Get in touch with the team at Horizon Bank to learn more about whether a debit card or credit card is best for you. With convenient locations across the Illawarra and South Coast regions, we are happy to help you with any questions you may have about debit and credit cards. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant Product Disclosure Statement and Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

In this blog, we’ll compare the different ways you can take money overseas. Organising your money should be the first thing on your travel checklist. We’ll look at the pros and cons to give you the best information to takeaway with you, and to help make an informed decision on taking and accessing money overseas when travelling. Cash It is always useful to have a small amount of foreign cash on hand, for small purchases such as water, public transport tickets, little souvenirs and so on. Depending on where you go, some small retailers and market stalls may only accept cash. Unfortunately cash can be a safety risk so ensure it is secured on you at all times because if stolen, there’s no way to get it back as it cannot be traced. Be as prepared as you can and do your research ahead of time so you're taking the best travel money type with you. To compare travel money, you can use our foreign exchange rate calculator to keep an eye on rate fluctuations, so you get the most out of your Australian dollar when you’re converting money. Ordering foreign cash from us is easy and hassle-free. Order before midday to have major currencies (US Dollars, British Pounds, Euro and New Zealand Dollars) delivered to your branch the next day. Credit Cards Credit cards are a convenient option for taking overseas as there is no need to open a new separate account and they’re good for accessing money in emergencies. They can however be a risk for scammers and card skimming so you need to keep an eye on where you are swiping or inserting your card. Where possible, avoid swipe machines. Inserting your card to read a chip is much safer. Conversion fees may apply and could be a flat fee or percentage of your purchase. Travellers Cheques Are great because they never expire and they can be replaced if lost or stolen. They’re also less risky than cash as you need ID and a matching signature to cash them. However, with the rise of debit cards and travel money cards, travellers cheques are no longer widely accepted and are expensive to purchase. Travel Money Cards These cards are pre-loaded so you can easily stick to a budget and limit your spending. Complete a travel currency comparison to get the best value on exchange rates then load your card before you go. Check for fees on using the card in an ATM and the fee to payout the remainder on your card. Most issuers come with an app so you can top up your card using your mobile phone while you're away. Visa Debit Cards With a Horizon Visa debit card you’ll be spending your own money, so you can keep track of your purchases through our mobile banking app and internet banking as you would here in Australia. Visa is accepted worldwide so you won’t have trouble making purchases. Keep in mind that a currency conversion fee may apply to overseas debit card transactions and ATM withdrawals. *Tip avoid suspect ATMs by only using ATMs that are attached to a bank where possible. Want to know more about ordering foreign cash or find out about any fees associated with international transactions? Contact us today and we’ll be happy to help you with your query. Are you planning a trip and looking for a quote on travel insurance? Get in touch with the friendly team at Horizon today for a quick obligation free quote. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Not all credit cards were created equal. When thinking about applying for a credit card there are many things to consider. This includes the benefits of having a credit card and how you can make the most of this type of credit facility. In this article we’ll also discuss the potential benefits and disadvantages of upping your limit. Safer than Cash Credit cards can be seen as a safer way to access money. If you accidentally lose your wallet or purse a credit card can be cancelled by calling us. Or you can lock your card in our app while you search for your card so no transactions can be made. Build Your Credit Rating If you’ve never applied for a loan, having a credit card can help you build up a credit report and credit score. This then provides information to lenders if you apply for other products like car loans or a home loan. Emergency Line of Credit Life can sometimes be unpredictable. A credit card allows for an additional line or access to credit you may not have sitting in your savings account. You can avoid the stress of emergencies by keeping a credit card for those situations where you find you need money quickly. Consolidating Your Debt If you have multiple credit cards, it may be worth speaking to a lender about consolidating them. Our credit card has a low introductory 5 month rate and no annual fee. This can save you money on interest charges and with a regular repayment schedule, help you reduce debt faster. Credit card limits Once you’ve got the hang of using your credit card, you may be tempted to increase your limit. We’ll compare the potential pros and cons of having an increased limit so you can make an informed choice about what is best for you. Potential benefits of increasing your credit card limit An instant benefit of increasing your credit card limit is that you’ll have access to more funds once approved. Our credit card has an interest-free period of up to 55 days, which can be a useful tool to help you maximise your cash flow. This only works if you repay the full balance on time every month to avoid interest. Increasing your limit for a purpose such as overseas travel or to purchase a major appliance can come in handy if you don’t have the time to save for those things. Be wary of uncontrolled spending; it’s important to know your own limits and manage your expenses. Paying for day-to-day expenses on your credit card and paying your full balance on time every month will mean that funds you’ve set aside to cover these purchases can be instead working for you in a savings account.  Possible risks of raising your limit An increased credit card limit may also increase your temptation to spend money. It may be better to keep a lower credit limit, that way you have a control in place to not overspend whilst still having the advantage of a borrowing safety net. Your monthly interest payments will also increase with a higher limit. You would need to factor this into your budgeting to ensure you can afford the extra costs. Your ability to get credit elsewhere may be impacted as an increased limit may appear on your credit report and reduce the amount of credit that can be lent to you in future. Your credit card limits (not credit balances) and existing debts are taken into consideration when a lender decides how much they would consider offering to you as a loan. A higher limit means they may offer you less than you were hoping or even decline your application altogether. For example if you only owe $500 but have a $10,000 limit on your credit card the lender will note the $10,000 limit as your debt, not the $500 owing. Important bits to takeaway It is important to understand your current financial situation before taking out a credit card or contacting your card issuer about your credit limit. This includes anticipating your likely future spending patterns based on current and past behaviours and situations that have affected you. A useful online resource such as our budget planner calculator can help you work out how much money you’ll have available each month to make credit card repayments. Thinking of applying for a credit card or want to know more about how to use one effectively? Get in touch with us today, we’re here to help. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

There are a few credit card tips and tricks for those of us using a credit card for the first time. We’ll talk through some of the do’s and don’ts to make sure you’re using your credit card wisely. DO: Keep track of your spending Whether this is in an app, receipt diary or simple excel spreadsheet, find a method that works for you so you’re aware of your outgoings. This is also a great exercise for budgeting purposes. Pay off your credit card on time A good financial institution will do more than just approve your credit card application. They’ll explain to you the statement cycle and how the interest free period works on purchases. When you receive your statement, take note of when your repayment is due and pay early to avoid extra interest or overdue fees. Ask your financial institution to set up a direct debit or a payroll split so you don’t have to make a manual payment every month. Maximise your credit card repayments Paying more than your minimum monthly repayment is always a good idea to bring down your outstanding balance (often referred to closing balance on your statement) and pay less interest over time. Use our budget calculator to see how much you can afford to allocate on repayments. Set the right credit limit Again, a good lender will correctly assess your ability to repay your credit card repayments and will assist you in choosing a suitable credit limit that won’t tempt you to overspend. A good rule of thumb to avoid getting into more debt is to spend less than you earn. Check your credit card statement Statements are a great visual tool to see how much (and how often) you’re spending money. Always check your credit card statements for anything that looks unusual, and if you see something that doesn’t look right, contact your financial institution immediately. DON'T: Increase your limit if you don’t strictly need to If you need to make a large purchase sooner rather than later, pay off that purchase as soon as your can then bring your limit back down, to avoid more debt. Make cash advances a regular habit Examples of cash advances are things like using your credit card to withdraw money from an ATM. Your financial institution should provide you with a list of what they consider to be cash advances on your credit card. These transactions can be charged at a higher rate and attract fees for the convenience of accessing the cash quickly. Use credit to get by A good thing to keep in mind is to use a credit card for things like emergencies and travel. Unfortunately, living off credit without controlled spending and repayments can land you in more debt in the long run. Allocating a portion of your income for bills, food, rent/mortgage and savings takes practice and self-discipline but services such as financial counsellors can help with managing your finances. See ASIC’s Money Smart website for information on financial counsellors. Looking for smart advice on how to use a credit card? Get in touch with us today. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.