Mortgage Choice Platinum Card – Rates and fees

Pay 0% p.a. balance transfer rate for the first 9 months and earn rewards as you spend with the Mortgage Choice Platinum Card.

Every time you use your Mortgage Choice Platinum Card you will accrue a 1% Cashback credit, which can be credited to your Mortgage Choice Home Loan or back into your Mortgage Choice Platinum Card. The card also comes with a special balance transfer rate of 0% p.a. for the first 9 months. A discounted annual fee of $99 is also available for the first year.

Product NameMortgage Choice Platinum Card
Balance transfer rate0% p.a. for 9 months
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Purchase Rate (19.99% p.a.)
Purchase rate (p.a.) 19.99% p.a.
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 limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$6,000
Card TypeMastercard
Foreign Currency Conversion Fee (MC)
Charged when you make a transaction that is converted by Mastercard 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% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$30,000
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 Repayment2.5% of the closing balance or $50, whichever is greater
Late Payment Fee$35
Foreign Currency Conversion Fee (MC)
Charged when you make a transaction that is converted by Mastercard 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% of transaction value
Cash Advance Fee$5 or 3% of the value of the transaction, whichever is the greater
Additional Cardholder Fee$29

Benefits of Mortgage Choice Platinum Card

  • Balance transfer offer. A competitive 0% p.a. balance transfer applies on transferred balances for the first 9 months, which could lead to savings in the form of interest. This rate will then revert to the variable interest rate for purchases, which is currently 19.99% p.a.
  • Interest-free days. If the account is paid in full by the due date each month, you can enjoy up to 55 interest-free days on purchases.
  • Mastercard benefits. The Mortgage Choice Platinum Card can be used anywhere Mastercard is accepted, meaning over 35 million locations, including two million ATMs, in over 210 countries. The card also comes with 24/7 access to a personalised concierge service and assistance for a number of lifestyle services including travel assistance, car rental plus sports and entertainment.
  • Rewards system. The Cashback rewards system allows cardholders to earn 1% Cashback credit on every dollar spent, meaning that you can receive 1 credit point per $100 spent. Once your Cashback credit reaches 100, it will automatically be debited into your selected Mortgage Choice account. You can earn rewards for up to $100,000 of your spending each year, and can earn rewards even faster with additional cardholders.
  • Security. If fraudulent transactions are made using the Mortgage Choice Platinum Card, cardholders are provided with peace of mind under Mastercard’s Zero Liability policy. The card is also embedded with a security chip and comes with a Mastercard SecureCode for additional safety.

Mortgage Choice Platinum Card features

  • Annual fee. For the first year, cardholders pay a lower annual fee of $99, then an ongoing fee of $129 and an extra $29 for additional cardholders. However, if your Mortgage Choice Platinum Card is linked to your mortgage, there is no annual fee on the credit card.
  • Cash advance fee. Every time a cardholder applies for a cash advance, they will be charged a fee of $5 or 3% of the value of the transaction, whichever is the greater.
  • Dishonour, late payment and overlimit fees. Each time a payment to the account is dishonoured, a $10 fee will be debited to the account. If payments are not made by the due date, the cardholder will be unable to claim up to 55 interest-free days on purchases and will incur a penalty fee of $35. There is also a $30 fee if the balance of your account exceeds your credit limit at any time during a statement period.
  • PayPass. This technology allows you to shop with convenience and make contactless payments for purchases under $100 – all you have to do is look for the PayPass symbol.
  • Online services. Cardholders can manage their Mortgage Choice accounts anytime and anywhere through Mortgage Choice Online Services. The online portal can be used to check your balance, review recent transactions, pay your bills using BPAY and view your rewards information.

How to apply for the Mortgage Choice Platinum Card

You can apply for your Mortgage Choice Platinum Card online. To get started, simply click on the ‘Go to Site’ button, but make sure you meet the following application criteria first:

  • 18 years old or over
  • Permanent resident of Australia
  • Good credit rating
  • Earn a minimum taxable income of $30,000 per annum.

If you meet the above criteria, you will need to provide the following information during your application:

  • Gross annual salary
  • Monthly expenses
  • Details of your current employer including address and phone number
  • If self-employed or retired, your accountant’s details
  • Australian driver's licence number
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Credit Cards Comparison

Rates last updated May 26th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

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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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