IMB Platinum Rewards Mastercard Review

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 Rewards 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 2018
Annual fee$99 p.a. annual fee for the first year ($129 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 Monthly Repayment2% or $30
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
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$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Minimum Repayment2% or $30
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5%, minimum $3.50
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
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
MailYes
Rewards ProgramCard Services Rewards Program
Bonus Points on Sign-up20,000
Rewards Points per $ (VISA/MC)1
Points ExpiryNever

IMB Platinum Rewards Mastercard review

Applying for the IMB Platinum Rewards 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 Rewards 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 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 Rewards Mastercard 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 Rewards Mastercard features

  • Annual fee. This card comes with a discounted annual fee of $99 in the first year, normally $129.
  • 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.

How to apply for the IMB Platinum Rewards Mastercard

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

Eligibility criteria

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.

Required documents

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 Rewards 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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4 Responses

  1. Default Gravatar
    graemeApril 5, 2017

    How does the complimentary travel insurance work with my platinum mastercard ,are we covered for things like hire cars ,luggage loss cancellations and medical and do we need to register with our details?

    • Staff
      HaroldApril 7, 2017Staff

      Hi Graeme,

      Thank you for your inquiry.

      Complimentary insurance covers provide protection in various scenarios. It would be nice to contact the provider directly to inquiry the detailed information about the complimentary insurance cover.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    CarolSeptember 16, 2015

    How can I increase my credit limit?

    • Staff
      SallySeptember 17, 2015Staff

      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 October 19th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to finder.com.au and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Available in black or white, this no-fuss credit card offers the same rate on purchases and cash advances, plus card lock technology.

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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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