FSCU MyCard Platinum MasterCard Review

Information verified correct on December 9th, 2016

Pay interest on balance transfers and purchases for months, and get extras like rewards and complimentary insurance covers

The FSCU MyCard Platinum MasterCard does not charge any interest on balance transfers and purchases for the first months. It comes linked to the Card Services Rewards Program, through which you can choose from an array of rewards. Purchase and travel insurance covers are standard extras, as is access to a round-the-clock platinum concierge service.

Product NameFire Service Credit Union MyCard Platinum MasterCard
Rewards ProgramCard 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.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.24% p.a.
Offer end date31 January 2017
Annual fee$175 p.a.
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 Monthly Repayment2% or $30 whichever is greater
Minimum Income$35,000
Card TypeMasterCard
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 InsuranceYes
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
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$175 p.a.
Minimum Repayment2% or $30 whichever is greater
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
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
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
Rewards ProgramCard Services Rewards Program
Rewards Points per $ (VISA/MC)1.25
Points ExpiryNever

FSCU MyCard Platinum MasterCard Review

If you’re looking for a card with a balance transfer offer, making use of this card’s introductory interest rate offer can help, and what can also help is that you don’t have to pay interest on purchases for the first months. This card comes with various complimentary insurance covers that provide protection against a host of situations, and access to a platinum concierge service can help in different circumstances. Applying before a certain date enables you to keep paying a discounted annual fee for life.

Benefits of the FSCU MyCard Platinum MasterCard

  • Interest rate offer. If you use this card suitably you can save a fair sum in the first months, not only by using it for transferring balances from existing cards, but also by not paying interest on purchases during this offer period.
  • Rewards. You earn 1.25 reward points for every dollar spent on eligible purchases. Redeeming your points presents options like getting flight tickets, getting store and travel vouchers, using them as cashback, and transferring them to accounts of popular frequent flyer programs.
  • Complimentary insurances. Guaranteed pricing scheme and purchase cover insurance provide protection to purchases made using this platinum card. Transit accident insurance, interstate flight inconvenience insurance, and international travel insurance come into effect when you use this card to book travel tickets.
  • Platinum concierge service. FSCU platinum cardholders get 24/7 access to a platinum concierge service. You can turn to this service to reserve tables at restaurants, to book tickets for different types of events, to book flight tickets and hotel rooms, and for assistance in business related matters.

Features of the FSCU MyCard Platinum MasterCard

      • Annual fee. If you apply before an ongoing offer period comes to a close you get to keep paying a discounted annual fee of $175 for as long as you keep using your card.
      • Interest rate offer. An introductory rate of applies on balance transfers and purchases for the first months. After the months period, the standard purchase rate applies on outstanding balances from purchases, and the cash advance rate applies on outstanding balances from balance transfers.
      • Rewards program. Every dollar spent on eligible purchases earn 1.25 reward points, and you get multiple options in redeeming your reward points. Your reward points don’t expire as long as you keep using the card as per its terms and conditions, and you can earn as many as 100,000 points in every 12 months cycle.
      • Interest free days. If you pay your credit card’s closing balance in full for two straight months you can get as many as 55 interest free days on purchases.
      • Complimentary insurances. This card comes with a number of complimentary purchase and travel insurance covers.
      • Concierge service. This round-the-clock global service provides assistance in various languages, and can help in matters relating to dining, travel, business, and entertainment.
      • Additional cards. You can get up to 4 additional cards linked to your primary card, provided nominated additional cardholders are at least 16 years old.
      • Card security. Features like Fraudshield and SecureCode are in place to keep your brick-and-mortar, online, and phone transactions as safe as possible.
      • PayPass. This technology enables you to make contactless payments for purchases under $100.

How to apply for the FSCU MyCard Platinum MasterCard

You can visit any FSCU branch to apply, you can go through the process over the phone, or you can download an application and send the completed application via fax or mail. If you want to download the application, click on the ‘Go to Site’ button.

Bear in mind you have to meet the following application criteria:

        • You are over 18 years of age
        • You are a permanent resident of Australia
        • You earn a minimum of $35,000 p.a.
        • You don’t have poor creditworthiness

To ensure the swift processing of your application make sure you complete it correctly in the first go, and prepare to part with the following information:

          • Personal details like complete name, date of birth, driver’s license number, nationality, marital status, and number of dependents
          • Your address, phone number, and email address
          • Professional details like your employment status, your employer’s name and contact details, and time spent at current employer
          • Details about your income, expenses, and liabilities

While applying for this platinum card that FSCU provides can be a good idea, given that it does not charge any interest on purchases and balance transfers for months, you can find other cards with similar offers, so make sure you compare a few before deciding.

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Rates last updated December 9th, 2016
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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