IMB Platinum MasterCard Review

Information verified correct on December 6th, 2016

Pay 0% p.a. for the first 14 months on balance transfers, earn rewards and receive complimentary insurance covers.

Free enrolment to the Card Services Rewards Program gives you different ways to redeem your reward points, and cardholders also get access to a platinum concierge service. This card offers cardholders a number of complimentary insurance covers, and cardholders can get up to 55 interest-free days on purchases.

Product NameIMB 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$179 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
Minimum Income$35,000
Card TypeMasterCard
Late Payment Fee$10
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$179 p.a.
Minimum Repayment2% or $30
Late Payment Fee$10
Over Limit Fee$40
Cash Advance Fee3.5%, minimum $3.50
Overseas Cash Advance Fee$5
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
Rewards ProgramCard Services Rewards Program
Rewards Points per $ (VISA/MC)1.25
Points ExpiryNever

IMB Platinum MasterCard Review

Applying for the IMB Platinum MasterCard makes sense if you look forward to earning and redeeming rewards points, and you can also make use of its concierge service from time to time. Complimentary insurance covers provide protection in various scenarios. You can also look forward to paying a discounted annual fee for the life of the card.

Benefits of the IMB Platinum MasterCard

  • Balance transfer offer

    Receive 0% p.a. for the first 14 months on balance transfers to this platinum card.

  • Rewards

    When you use your platinum card to make eligible purchases, you'll be rewarded for every dollar you spend. With the Card Services Rewards Program 1.25 reward points per eligible dollar spent, and these points accumulate in your program account. You can redeem your reward points for travel-related benefits like tickets for flights, travel vouchers, or even put them towards your shopping in the form of store vouchers or cashback.

  • Free insurance covers

    All IMB platinum cardholders receive protection through complimentary insurance covers like a guaranteed pricing scheme and purchase cover insurance to protect you while you're spending on your card. When you're travelling, interstate flight inconvenience insurance and international travel insurance can be a huge benefit.

IMB Platinum MasterCard Features

  • Annual fee - This card comes with an annual fee of $179.
  • Balance transfer promotional rate - Pay 0% p.a. for the first 14 months on outstanding balances transferred to this card, this card allows up to 80% of the credit limit for transferring balances.
  • Be rewarded for using your card - Cardholders earn reward points for every eligible purchase they make using their platinum cards, and the Card Services Rewards program gives them multiple options when it comes to redeeming their reward points.
  • Time to pay your purchases back - Have up to 55 interest-free days on purchases when you pay your entire balance in full each statement period.
  • Access to a concierge - You can access the platinum concierge service at any time, and it offers assistance in various ways. It can help you make travel plans, including booking flight tickets and hotel rooms. You can use it to scout for gifts, you can turn to it to buy tickets for events, and you can also use it for business-related matters.
  • Add extra people to your account - You can get up to 4 additional cards for free, and additional cards linked to platinum cards also earn reward points.
  • Secure spending on your card - The microchip technology this card uses offers more protection against fraud in comparison to previously offered magnetic strip technology. The Fraudshield program monitors card activity and intimates you immediately upon detecting any suspicious transaction.
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How to apply for the IMB Platinum MasterCard

Visit any IMB branch to apply, initiate the process over the phone, or apply for your IMB Platinum MasterCard online.

Check you meet the below criteria below you apply:

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

Completing the application requires that you provide a range of information, which includes the following:

  • Your personal details - Your full name and identification documents such as a driver’s license number, your marital status, number of dependents, and contact information.
  • Employment details - Where you work, your occupation, the name of your employer and their contact information.
  • Financial details - How much you earn, details regarding your debts, your monthly expenses, and any liabilities you have.

The IMB Platinum MasterCard, with its rewards program, introductory rate, complimentary insurances, and access to the concierge service, is a good credit card to consider, but since there are similar offerings out there, take a little time to compare your options well.

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2 Responses to IMB Platinum MasterCard Review

  1. Default Gravatar
    Carol | September 16, 2015

    How can I increase my credit limit?

    • Staff
      Sally | September 17, 2015

      Hi Carol,

      Thanks for your question.

      Thanks for your inquiry.

      Please note that the maximum credit limit for IMB Platinum Mastercard is A$30,000.

      You can request for an increase on your credit limit, provided that you qualify Card Services’ credit criteria.

      You may wish to speak directly to the Card Services customer service for further inquiries regarding credit limit increase. Please refer to the contact details I have forwarded to your email.

      I hope this has helped.

      Cheers,

      Sally

Credit Cards Comparison

Rates last updated December 6th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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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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