MyState MasterCard Platinum Credit Card Review

Information verified correct on December 4th, 2016

Who else wants a platinum credit card that comes with an introductory 0% p.a. rate on balance transfers?

The MyState Platinum MasterCard comes linked to a rewards program, and if you apply before a given date you can take advantage of a special 0% p.a. introductory rate on balance transfers, which stays in place for the first 14 months. If you're after a credit card that supports you with a competitive ongoing rate, MyState provides a Low Rate MasterCard as well.

Product NameMyState Financial 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$99 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 Repayment3%
Minimum Income$35,000
Card TypeMasterCard
Late Payment Fee$15
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Joint ApplicationNo
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.
Minimum Repayment3%
Late Payment Fee$15
Over Limit Fee$40
Gambling Transactions AllowedNo
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Rewards ProgramCard Services Rewards Program
Bonus Points on Sign-up20,000
Rewards Points per $ (VISA/MC)1.25
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap100,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

MyState Platinum MasterCard Review

The Platinum MasterCard that you can apply for through MyState can compliment your lifestyle in more ways than one. You get a number of options when it comes to redeeming your reward points, and this card offers round-the-clock access to a platinum concierge service. If you use the card in the right manner, you can get up to 55 interest-free days on purchases.

Benefits of MyState Platinum MasterCard

The MyState Platinum MasterCard provides a number of benefits. Here’s what you can look forward to when using this card:

  • Earn rewards

    This card comes linked to the Card Services Rewards Program where you earn 1.25 reward points for every dollar you spend. Make eligible purchases in-store, online, or over the phone and reap the benefits of this lucrative program.

  • Receive complimentary insurance covers

    Be protected when you travel and spent in Australia and overseas. As a platinum cardholder you get access to a number of complimentary insurance covers, which include purchase cover insurance, guaranteed pricing scheme, interstate flight inconvenience insurance, international travel insurance, and transit accident insurance.

  • Access a platinum concierge service

    Platinum cardholders get 24/7 access to a platinum concierge service. You can turn to this service for a assortment of travel, entertainment, and business-related services.

MyState Platinum MasterCard Features

You can use your MyState Platinum MasterCard globally, at EFTPOS terminals and at ATMs, wherever you see the MasterCard logo. Given its platinum status, it offers cardholders a number of features:

  • Pay discounted annual fee. Apply in time and you get to keep paying a discounted annual for as long as you keep using your card.
  • Balance transfers. This card allows you to transfer balances from other cards, and you can, as mentioned, look forward to paying interest for the first months when you transfer an existing card balance.
  • Rewards. Every dollar you spend on eligible purchases earns 1.25 reward points. You can redeem your accumulated points for flight tickets, travel and store vouchers, and in the form of cashback. You also have the option of transferring them to a frequent flyer program.
  • Interest-free days. If you don’t carry over balances from one month to the next you can get as many as 55 interest-free days on purchases.
  • Additional cards. You can get up to additional cards, and even these additional cardholders also earn you reward points.
  • Secure shopping. This is a microchip enabled card, offering you security when you spend. Fraudshield monitors your account for irregular transactions, and SecureCode provides a secondary line of defence when you shop online.
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How to apply for the MyState Platinum MasterCard

You can apply for the MyState Platinum MasterCard online, just click on the ‘Go to Site’ button to get started.

Application criteria

To apply for this card you have to meet certain eligibility criteria, which includes the following:

  • You’re at least 18 years old
  • You’re a permanent resident of Australia
  • You don’t have poor credit rating
  • You earn a minimum of $35,000 p.a.

Required information:

To complete the application, prepare to part with different types of information, which includes the following.

  • Personal details. Your residential address, phone number, date of birth, marital status, number of dependants and your mother’s maiden name
  • Employment-related details. Your employment status and your employer’s name and contact details
  • Financial details. Your income, expenses, assets, and liabilities.

If you apply online, you provide consent to receive your credit card statements and all other documentation electronically via the email address you provide. You can change this preference once your account is open.

This Platinum MasterCard is one you can use to good effect in different circumstances, from balance transfers and interest-free days, to using the platinum concierge service. While this card might be a good option for you, remember to compare your options before you apply to ensure you're getting a good deal.

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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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