Bank of Sydney Credit Cards

Bank-Of-Sydney

A platinum card with diverse features or a classic card with a competitive interest rate, the Bank of Sydney might have just the card you’re looking for.

Cards not available for application

Bank of Sydney does not currently have any credit cards open for applications. However, this information has been kept for historical purposes.

Bank of Sydney Australia began operations in the form of a full service retail bank in 2001, and it has more than 15 branches spread across Sydney, Melbourne, and Adelaide. In addition to offering its customers evolving and competitive personal and business banking solutions, this bank also boasts of offering well a qualified Trade Finance division that focuses on the Mediterranean, North African, and Middle Eastern regions. The credit cards Bank of Sydney offers take into account that not all its customers have the same requirements. While you have a budget card that comes with various benefits, you can also opt for a premium card that offers even more.

Comparison of Bank of Sydney's Credit Cards

Rates last updated November 20th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Bank of Sydney Credit Card Platinum
6.99% p.a. for 6 months (reverts to 18.49% p.a.)
0% p.a. for 6 months
$129 p.a.
Receive up to 55 days interest-free on purchases, complimentary travel insurances and a 24/7 concierge.
Bank of Sydney Credit Card Classic
6.99% p.a. for 6 months (reverts to 11.99% p.a.)
0% p.a. for 6 months
$49 p.a.
Earn $4 for every $1,000 when you spend over $5,000 per year. Plus up to 55 days interest-free on purchases.

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Types of credit cards that the Bank of Sydney offers

Bank of Sydney gives it customers the option to choose between two credit cards, and both come with a Visa connection. Details of these cards are as follows.

  • Low interest rate credit cards

This credit card from Bank of Sydney ensures that your experience remains convenient and rewarding, while also offering a highly competitive interest rate. This card comes with a reward program, and it offers other benefits as well.
Learn more about balance transfer credit cards

  • Platinum credit cards

The Bank of Sydney Platinum Visa Card is for people who look for excellence in service, and this card can work in enhancing your lifestyle through a well rated rewards program as well as complimentary insurance covers and a range of other opportunities and privileges.
Learn more about platinum credit cards

Benefits of Bank of Sydney credit cards

Credit cards that Bank of Sydney issues come with the following benefits.

  • Annual fee waiver

If you apply before a given date you can receive a waiver on the first year’s annual fee. This requires that your credit card should remain active, and that there should be a minimum monthly deposit of $2,000.00 in a linked Bank of Sydney account. Subsequent waivers of the annual fee depend on the bank’s judgement. The annual fee for the Platinum Visa Card is $129, and the Classic Visa Card attracts an annual fee of $49.

  • Rewards program

If you use the Platinum Visa Card you earn $8.00 for every $1,000.00 you spend on eligible purchases. In case on the Classic Visa Card you earn $4.00 for every $1,000.00 you spend on eligible purchases, but this is only when you spend more than $5,000 and up to $30,000 p.a. These cash rewards credit directly to a linked Bank of Sydney savings or transaction account, and you can use the same to make purchases across Australia.

  • Insurance covers

If you’re looking for a credit card that offers complimentary insurance covers, the Platinum Visa Card requires your attention. This card provides you up to $500,000 in the form Travel Accident Insurance, which covers you and immediate family members as long as you use your Platinum card to pay for travel fares. Other covers include the following.

  • Overseas travel insurance

Through this you get cover to deal with contingencies like overseas medical expenses, travel cancellation, missed travel connections, lost luggage, accidental death or disability, personal liability, and more.

  • Extended warranty insurance

When you use your Platinum card to buy a new domestic appliance anywhere in Australia you get an extension of up to 12 months on the original manufacturer’s warranty.

  • Purchase security insurance

This provides cover for new items you buy using this card against theft and accidental damage for 90 days from the purchase date.

  • Transport accident insurance

This provides cover in the event you or a family member travelling with you dies or is seriously injured, either while riding as a passenger, or while boarding or alighting.

  • Interstate flight insurance

This cover is in place to provide protection if your luggage is delayed or lost during an interstate flight.

  • Interest free days

Both cards give you the ability to enjoy as many as 55 interest free days on purchases, but you have to make sure you that don’t have any balance transferring from one billing cycle to the next.

  • Balance transfers

You can use both these cards to transfer balances from existing credit cards. The minimum you can transfer is $500 and the maximum cannot exceed 95% on your card’s credit limit. Through the balance transfer offer you can look forward to paying 0% p.a. interest on transferred balances for 6 months. Any leftover balance at the end of this 6 months period starts attracting the card’s purchase rate.

  • Concierge service

The Platinum Visa Card from Bank of Sydney enables you to book restaurant tables or tickets to movies and shows at any time, from anywhere in the world, by accessing its round-the-clock concierge service.

  • Additional card

Both cards allow you to apply for an additional card, and there is no additional card fee.

How to apply for a Bank of Sydney Credit Card

You can begin the process of applying for a Bank of Sydney credit card online. Start by visiting their website and downloading a Bank of Sydney credit card application form. Once you complete the application you can visit any Bank of Sydney branch to submit your application or you can scan and mail it, either via email or via regular mail. To apply for a Bank of Sydney credit card you have to meet certain eligibility criteria. You should meet minimum income requirements, you should be at least 18 years of age, and you should be a permanent resident of Australia. The application process requires that you submit certain details, which include the following.

  • Personal details. These include your name, date of birth, mailing address, email address, and phone number.
  • Income details. Prepare to submit income details from all sources, which include shares and real estate.
  • Liabilities and expenditure. If you have existing loans or credit cards, you’ll have to part with information surrounding how much you owe and credit limits. Other details you have to submit include expenses related to rent, mortgage payments, utility bills, child support, and so on.

What happens next?

After you submit your application the bank reviews it and gets in touch with you. If it requires any information you’ll have to submit the needful for the process to move forward. As part of the process, after the bank decides to offer you a card, you have to go through an identity check. You can do so by visiting a branch and submitting copies of the required documents, or you can mail in certified copies as well. Once the identity check is complete, the bank dispatches your credit card.

Activating your card

You can activate your Bank of Sydney credit card by visiting the Bank of Sydney website at any time, or by calling the Bank of Sydney helpline between 09.00 am and 05.00 pm.

Frequently asked questions

The following are answers to commonly asked questions about Bank of Sydney credit cards.

The minimum credit limit of the Classic Visa Card is $500, and for the Platinum Visa Card this changes to $6,000. The maximum depends on factors like how much you earn, your ability to repay, and your creditworthiness. You can ask the bank to increase or decrease your credit limit later, but they don’t have to agree to all such requests.

Your minimum monthly repayment is either 2%.

Is the interest rate on cash advances the same as the interest rate on purchases?

No, the cash advance interest rate is higher than the purchase rate.

As a holder of the Platinum or Classic credit card you stand to earn cash rewards each time you or an additional card holder makes an eligible purchase. The cash rewards you earn depend on the card you have.

Your cash rewards accumulate in a savings or transaction account linked directly to your credit card, and you can use these cash rewards to make purchases. You can make purchases at any merchant in Australia who has an EFTPOS terminal, but you cannot redeem them outside Australia. You can also turn to an ATM to withdraw your cash rewards, by simply selecting the ‘savings’ option.

Your cash rewards expire when you or the bank closes or terminates your account; when the cash rewards program ceases to exist; or upon your demise.

You can cancel your Bank of Sydney credit card account at any time by getting in touch with the bank. You can also cancel any additional card linked to the main card at any time. Once you cancel the primary card, any additional card cancels automatically. If you request for a cancellation the bank contacts you to confirm cancellation details. You must return the card, and any additional cards, to the bank, or destroy them. After you cancel the card you remain liable for charges you make using the card before the termination request goes through. Moving forward, you have to keep making payments as per the original contract, and cancelling direct debits or any other regular payment is your responsibility.

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