Earn 20,000 bonus reward points for every dollar you spend, and pay 0% p.a. on balance transfers for 14 months.
The Auswide Bank Platinum Mastercard is a credit card that rewards spending. It gives cardholders access to a platinum concierge service, it provides a number of complimentary insurance covers, and if you use this card in the right way you can get up to 55 interest free days on purchases.
This card comes with two limited period offers - one on its interest rate and another on its annual fees.
| Product Name | Auswide Bank Platinum Rewards Mastercard |
|---|---|
| Rewards Program | Card Services Rewards Program |
| Balance transfer rate (p.a.) | 0% p.a. for 14 months |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Cash Advance Rate (21.74% p.a.) |
| Maximum Balance Transfer Amount | 80% of approved credit limit |
| Purchase rate (p.a.) | 20.24% p.a. |
| Offer end date | 31 July 2017 |
| Annual fee | $99 p.a. annual fee for the first year ($159 p.a. thereafter) |
| Interest Free Period The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement. | Up to 55 days on purchases |
| Cash advance rate (p.a.) | 21.74% p.a. |
| Min credit limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $6,000 |
| Max credit limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $30,000 |
| Minimum Income | $35,000 |
| Card Type | MasterCard |
| Late Payment Fee | $10 |
| Foreign Currency Conversion Fee (MC) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3.4% of transaction value |
| Complimentary Travel Insurance | Yes |
| Available To Temporary Residents | No |
| Joint Application | No |
| Minimum Income | $35,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available to Temporary Residents | No |
| Credit Rating Requirement Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here. | Good |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $6,000 |
| Max Credit Limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $30,000 |
| Annual Fee | $99 p.a. annual fee for the first year ($159 p.a. thereafter) |
|---|---|
| Late Payment Fee | $10 |
| Over Limit Fee | $40 |
| Cash Advance Fee | $3.50 (or 3.50% of amount when >= $100) for each cash advance |
| Overseas Cash Advance Fee | $5.00 for each cash advance |
| Foreign Currency Conversion Fee (MC) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3.4% of transaction value |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 p.a. |
| Number of Additional Cardholders | 4 |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| In Branch | Yes |
| Rewards Program | Card Services Rewards Program |
|---|---|
| Bonus Points on Sign-up | 20,000 |
| Rewards Points per $ (VISA/MC) | 1 |
| Rewards Points per $ (AMEX) | 0 |
| Rewards Points per $ (VISA/MC) Cap | 100,000 |
| Rewards Points per $ (AMEX) Cap | N/A |
| Points Expiry | Never |
Auswide Bank Platinum Mastercard review
If you want the benefits that accompany a typical platinum credit card, but are looking for one that also offers a promotional rate on balance transfers, the Auswide Bank Platinum Mastercard might be one to consider. This card, after all, attracts 0% p.a. interest on purchases and balance transfers for the first 14 months. The ability to pay a discounted annual fee for the life of the card is also a plus.
Benefits of the Auswide Bank Platinum Mastercard
- Interest rate offer. This card allows you to transfer balances from existing cards, and it comes with a promotional rate of 0% p.a. on balance transfers. Use this offer to transfer balances from cards that charge higher rates and save in the form of interest. The purchase rate also stands at 0% p.a. for the first 14 months, meaning you can save when you use the card day-to-day.
- Rewards program. Enrolment to the Card Services Program is free for platinum cardholders. You earn 1 rewards points for every dollar you spend on eligible purchases. You can redeem your points in the form of cashback, to get store or travel vouchers, book flight tickets, or even transfer them to an eligible frequent flyer program account.
- Complimentary insurances. Complimentary insurance covers that you receive include purchase cover, extended warranty insurance and a guaranteed pricing scheme. For travellers, interstate flight inconvenience insurance, international travel insurance and transit accident insurance will keep you covered on your next trip.
- Platinum concierge service. This 24/7 global service can help you reserve tables at restaurants, and it can help you book tickets to movies, live shows, and sporting events. You can turn to it to make travel plans, and book flight tickets and hotel rooms and you can also turn to it for an array of business needs.
Features of the Auswide Bank Platinum Mastercard
- Annual fee. If you apply before , you get to keep paying a . Normally, this fee is $159 p.a.
- Bonus points. Receive 20,000 bonus reward points when you spend $3,000 in the first 3 months. Offer ends on 31 July 2017.
- Balance transfer offer. Pay 0% p.a. on transferred balances for the first 14 months. At the end of this period, any outstanding balance starts attracting the card’s cash advance rate.
- Interest-free days. By paying your card’s closing balance completely at the end of each billing cycle, you can get as many as 55 interest-free days on purchases.
- Rewards. You get multiple options when it comes to redeeming your reward points. Your points don’t expire as long as your account remains in good standing, and you can earn as many as 100,000 points in every 12-month cycle.
- Insurance covers. Purchases made using this card receive protection through complimentary insurance covers. When you use your card to book travel tickets, you become eligible to receive a bunch of complimentary travel insurances.
- Platinum concierge service. This round-the-clock concierge service can help you with business, travel, and entertainment-related matters in a number of countries.
- Additional cards. This card allows you to get up to four additional cards, and additional cards linked to platinum cards earn reward points.
- Mastercard PayPass. This feature allows you to make contactless payments of under $100 at merchants that support this technology.
- Fraudshield. If there is any suspicious activity on your account, this service notifies you immediately.
How to apply for the Auswide Bank Platinum Mastercard
You can visit any Auswide Bank branch to apply, you can get started over the phone, or you can submit your application online. To complete an online application, simply click on the ‘Go to Site’ button.
Eligibility criteria
- You are at least 18 years old.
- You are a permanent resident of Australia.
- You earn at least $35,000 p.a.
- You have good credit history.
Required documents
- Personal details like when you were born, your marital status, how many dependents you have, and your driver’s license number
- Employment details like your employer’s name and contact details, as well as time spent at current employer
- Details surrounding your existing financial condition, which include your income, expenses, assets, and liabilities
The 0% p.a. interest rate offer on purchases and balance transfers does make this card a good offer to consider, but remember that other cards come with similar features, so compare a few before applying.
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