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 2019
Annual fee$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
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 upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened.
$30,000
Card TypeMastercard
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
Minimum Income$35,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Annual fee$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Minimum Monthly Repayment2% or $30
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
Cash Advance Fee3.5%, minimum $3.50
Overseas Cash Advance Fee$5
Additional Cardholder Fee$0
Number of Additional Cardholders4
Rewards ProgramCard Services Rewards Program
Bonus Points20,000 bonus points
Rewards Points per $ spent (VISA/MC)1
Rewards Points per $ (VISA/MC) Cap100,000

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 point 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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6 Responses

  1. Default Gravatar
    April 20, 2018

    Is this the Mastercard underwritten by Citi Bank?

    • finder Customer Care
      JeniApril 20, 2018Staff

      Hi Magoo,

      Thank you for getting in touch with finder.

      Yes, it is. You may also read from this page that balance transfers are not allowed from other Citigroup accounts to IMB.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  2. 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?

    • finder Customer Care
      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

  3. Default Gravatar
    CarolSeptember 16, 2015

    How can I increase my credit limit?

    • finder Customer Care
      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 November 15th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
Citi Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months (reverts to 20.99% p.a.)
0% p.a. for 13 months
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
Virgin Australia Velocity Flyer Card - Exclusive Offer
0% p.a. for 14 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Save on credit card costs with half the annual fee for the first year and a 0% p.a. interest rate on purchases for 14 months.
American Express Westpac Altitude Platinum Bundle - Qantas - Exclusive Offer
20.24% p.a.
$50 p.a. annual fee for the first year ($249 p.a. thereafter)
finder Exclusive:
Up to 90,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).

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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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