Heritage Bank Platinum Visa Card Review

Information verified correct on December 4th, 2016

Enjoy exclusivity coupled with savings – a balance transfer offer for 12 months plus an introductory purchase rate.

The Heritage Bank Platinum Visa Card is one that offers a range of features. This card comes linked to a rewards program, it offers a number of complimentary insurance covers and it gives cardholders access to a platinum concierge service.

A 0% p.a. interest rate for 12 months applies to balance transfers, as does an introductory purchase rate that lets you save while you spend for the first 13 months.

Product NameHeritage Bank Platinum Credit Card
Rewards ProgramHeritage Credit Rewards
Balance transfer rate (p.a.)0% p.a. for 12 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (16.75% p.a.)
Purchase rate (p.a.)8.95% p.a. for 13 months (reverts to 16.75% p.a.)
Annual fee$125 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
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.
$500,000
Minimum Monthly Repayment3% or $30, whichever is greater
Card TypeVisa
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover3 months
Available To Temporary ResidentsNo
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.
$500,000
Annual Fee$125 p.a.
Minimum Repayment3% or $30, whichever is greater
Phone BankingYes
Internet Banking TransfersYes
Rewards ProgramHeritage Credit Rewards
Rewards Points per $ (VISA/MC)0.003
Points ExpiryNever

Heritage Bank Platinum Visa Card Review

The 0% p.a. balance transfer rate for 12 months can lead to significant savings on an existing card balance, and so can the low introductory purchase rate of 8.95% p.a. This card lets you to earn Heritage credits that you can redeem for various rewards and it comes with different complimentary insurance covers. Cardholders get access to a concierge service, Visa Front Line Access and travel services. You can also choose to personalise your card using your own photo or just about any other image.

Benefits of the Heritage Bank Platinum Visa Card

  • Rewards. When you use your Heritage Bank Platinum Visa Card to make purchases you'll earn loyalty credits. You earn three credits for every whole $1,000 you spend in a calendar month, and you can redeem accumulated points through the Heritage Bank online banking platform. You can choose from a range of gift cards or redeem your points for different kinds of merchandise.
  • Complimentary insurance covers. This card entitles you to a complimentary insurance package, which includes international travel insurance, interstate flight inconvenience insurance, transit accident insurance, purchase cover insurance, extended warranty insurance and cover through the guaranteed pricing scheme.
  • Balance transfer offer. If you’re looking for a card that charges 0% p.a. interest on balance transfers, you can lock that rate in for 12 months on this card. This will give you ample time to pay down your existing card debt.
  • Introductory interest rate. The Heritage Bank Platinum Visa Card charges a low introductory rate of 8.95% p.a.  for the first 13 months, and this rate applies to purchases as well as cash advances. After this period the standard variable rate of 16.75% p.a. will apply.

Heritage Bank Platinum Visa Card Features

  • Waived annual fee. You have to pay an ongoing annual fee of $125 each year you hold the card. However, if you spend over $35,000 during the year up to the anniversary date of your card, this fee will be waived.
  • Personalise your card. By paying a nominal fee of $15 you can choose to put just about any photo on your credit card, and you can update your card with a new photo as often as you like.
  • Rewards. The Heritage Bank rewards its customers through Credits — every $1,000 spend on your card in a one-month period earns you three credits. You can view your Credits balance and redeem your credits for rewards online or over the phone.
  • Concierge service. Use this 24/7 global service to book tickets for all kinds of events, to plan your travel, send gifts, to get documents translated, and for much more.
  • Visa Front Line Access. This service gives you the ability to get the first choice of seats to some of the most popular events in the country.
  • Travel services. Look forward to a variety of exclusive global travel offers, as well as services like Airport Meet and Assist.
  • Card security. This microchip enabled card offers you protection when using your card for in-store purchases, while ‘Verified by Visa’ provides additional security when you use your card online.
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How to apply for the Heritage Bank Platinum Visa Card

To apply for this credit card visit any Heritage Bank branch, or speak to a Heritage Bank representative over the phone. You can also apply for this card conveniently online. To apply for the Heritage Bank Platinum Visa Card you have to meet certain eligibility criteria, which are as follows:

Eligibility criteria:

  • You should be at least 18 years old
  • You should be a permanent Australian resident
  • You should have good credit history

Required documentation:

  • Personal details like your name, date of birth, marital status, number of children under the age of 18 living with you, current and previous residential address and your driver's licence number.
  • Employment information is also required. This includes information such as where you are currently employed, where you've previously been employed and how much you earn.
  • The name and contact details of a family member not currently living with you
  • Details surrounding your existing financial situation, which include your expenditure, assets, and debts

The balance transfer offer and the introductory interest rate make this card worthy of your consideration, but before you apply, take some time to compare it with similar cards that other banks have to offer.

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Credit Cards Comparison

Rates last updated December 4th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* 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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