P&N Bank Platinum Visa Credit Card Review

Information verified correct on December 8th, 2016

Who else wants a platinum card that charges a low ongoing rate and offers a bunch of extras?

The P&N Bank Platinum Visa Credit Card is a platinum card with a difference, given that it charges a low ongoing rate. The low rate applies to purchases and cash advances, and you can also get up to 45 interest-free days on purchases. Cardholders get 24/7 access to a platinum concierge service as well as a comprehensive insurance package.

Product NameP&N Bank Platinum VISA Credit Card
Purchase rate (p.a.)11.49% p.a.
Annual fee$80 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 45 days on purchases
Cash advance rate (p.a.)19.99% 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
Minimum Monthly Repayment3%
Card TypeVisa
Late Payment Fee$5
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
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
Annual Fee$80 p.a.
Minimum Repayment3%
Late Payment Fee$5
Over Limit Fee$10
Cash Advance Fee$5
Overseas Cash Advance Fee$5
Overseas Emergency Replacement$320

P&N Bank Platinum VISA Credit Card review

Unlike most platinum credit cards, this card charges a low ongoing interest rate, which applies to both purchases and cash advances, and this can lead to noticeable savings in the long run if you don’t pay your account’s balance in full each month. Cardholders get a number of purchase and travel insurances for free, which they can turn to in different circumstances. Managing the card in the right manner brings with it up to 45 interest-free days on purchases.

Benefits of the P&N Bank Platinum VISA Credit Card

  • Low rate. While most platinum cards tend to charge high interest rates, this platinum card charges a competitive variable rate of 11.49% p.a. This rate applies to purchases as well as cash advances, and if you have balances rolling over from one month to the next, you can save on your interest repayments.
  • Complimentary insurance covers. When you make a purchase using this card it receives protection through complimentary purchase security insurance as well as extended warranty insurance. When you book travel tickets using this card, you receive complimentary interstate flight insurance, overseas travel insurance, and transport accident insurance.
  • Platinum concierge service. Platinum cardholders can access this 24/7 global service in different languages. It can help you in making travel plans, which include booking flight tickets and making hotel reservations. The service can help you locate restaurants and reserve tables, it can assist you in booking tickets for sporting events, concerts, and live shows and it can also help you with your business needs.

P&N Bank Platinum VISA Credit Card features

  • Annual fee. P&N Bank Platinum Visa cardholders have to pay an ongoing annual fee of $80.
  • Interest-free days. If you pay your card’s outstanding balance in full before every due date you can get as many as 45 interest-free days on purchases.
  • Complimentary insurances. Use this card to book travel tickets and get complimentary travel insurances. Purchases you make using this card also receive complimentary insurance covers.
  • Platinum concierge service. As a platinum cardholder, you can access a round-the-clock global concierge service for assistance with travel, business, dining, and entertainment.
  • Visa Premium. This service, provide by Visa, gives you access to a plethora of lifestyle, entertainment, and travel privileges.
  • Free card replacement. Emergency card replacement is free, globally.
  • Additional card. You can get an additional card linked to your P&N Platinum Visa card. Keep in mind you remain liable for all transactions made using the given card.
  • Credit limit. The minimum credit limit for this platinum card is $6,000. P&N Bank assigns a limit to your card after taking your existing financial situation into account.
  • Visa payWave. Your new P&N Bank Platinum Visa credit card is payWave-enabled, so you can make contactless payments for purchases under $100.
  • Verified by Visa. This online security program provides additional safety every time an online transaction makes use of your credit card’s details.
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How to apply for the P&N Bank Platinum VISA Credit Card

You can apply in person, by visiting your nearest P&N Bank branch, you can speak to a P&N Bank lending specialist over the phone or you can apply online. Establish if you meet the following application criteria before you begin your application:

Eligibility criteria

  • You’re at least 18 years old.
  • You must have an Australian residential and mailing address.

Required documents

You need access to different types of information to complete the application, and this is what you should have close at hand.

  • A primary photo ID like your passport or driver’s licence, or a primary ID without a photo like a birth certificate or citizenship certificate along with a secondary ID like a utility bill
  • Details of your income
  • Your current employer’s contact details
  • Details about your assets and liabilities
  • If you’re self-employed you’ll have to provide financial statements and tax assessments for the last two years.

This platinum credit card, with its low variable rate on purchases and cash advances, can be a good card to consider for your credit needs. As there are other cards that offer similar features, comparing a few before applying makes sense.

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Credit Cards Comparison

Rates last updated December 8th, 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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