Credit card repayments

Each month you must make the minimum monthly repayment by the due date shown on your BankSA credit card statement.

The minimum repayment on your credit card is whichever is greater of:

• 2% of your total balance, or
• $10, or
• The amount of outstanding government and interest charges.

If the outstanding closing balance is less than $10, you must pay it in full.

If your balance is zero or if your account is in credit, you do not need to make any repayments.

• If you miss or make a payment late, you will be charged a Late Payment fee
• If your credit card account was opened before 4 June 2012, and you exceed your credit card limit, you may be charged an Overlimit Fee. These fees are clearly outlined on your statement.

In order to avoid Late Payment Fees, you may choose to set up an Automatic Payment Plan to ensure you always meet your minimum repayments on time each month. You can set up a direct debit from your nominated Australian bank account to your credit card so you don’t miss a payment.

You can also consider using SMS and Email Alerts to inform you when you are close to your credit limit. SMS Alerts are charged at $0.25 per SMS except for the Complete Freedom and Express Freedom accounts which receive free SMS Alerts. Email alerts are free. Both can be set up through Internet Banking.

Yes, you can make additional payments to your BankSA card at any time during the month. You don't have to wait until you receive your monthly statement to pay. Making additional repayments will reduce your balance faster, and reduce any interest charges.

Setting up an Automatic Payment Plan is a simple way to ensure you meet your credit card repayment by the due date on time each month.

You can arrange to have a payment made automatically to your credit card from any statement based account you nominate with any Australian bank.

With an automatic payment plan you can avoid missing your minimum monthly payment and being charged a Late Payment Fee

To set up this service, complete the Automatic Payment Plan form or call us on 13 13 76.

BankSA Assist is a team of specialists who will take the time to understand your situation, and provide you with personal assistance and information to discuss ways to help you control and manage your BankSA loans and accounts repayments.

If you are facing financial hardship in relation to your BankSA accounts, please contact us on 1800 629 795, Monday to Friday 8am to 5pm (Sydney time).