Take advantage of up to 110 interest-free days on purchases and 0% foreign transaction fees.
The Skye Mastercard offers 110 days interest-free on everyday purchases, and 9-, 12- or 15-month 0% interest instalment plans for purchases of at least $250 or those made with selected retailers. Plus other interest-free offers at selected retail partners
Interest free period
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|Product Name||Skye Mastercard|
|Purchase rate||23.99% p.a.|
|Interest-free period||110 days|
|Cash advance rate||25.99% p.a.|
|Min credit limit||$1,000|
|Max credit limit||$50,000|
|Foreign currency conversion fee||0%|
|Available to temporary residents||No|
|Joint application||Yes - Conditions apply|
- Up to 110 days interest-free period on everyday purchases
- Ability to convert large purchases into 9-, 12- or 15-month 0% p.a. instalment plans
- 0% foreign transaction fees on online and overseas purchases
- Optional MOTION CODE feature, offering extra security against fraudulent transactions
- Very high interest rates on purchases and cash advances when promotional rates expire
- $20 per card fee applies for the MOTION CODE technology feature
|Minimum monthly repayment||3% of the closing balance or $30, whichever is greater|
|Late payment fee||$35|
|Foreign currency conversion fee||0%|
|Cash advance fee||3% or $3, whichever is greater|
|Overseas cash advance fee||3% or $3, whichever is greater|
|Overseas ATM withdrawal fee||$0|
|Additional cardholder fee||$10|
|Number of additional cardholders||4|
Amy Bradney-George is the acting editor for credit cards and has more than 13 years’ experience writing about personal finance. She has bylines in publications including The Sydney Morning Herald, ABC News and The Equity Magazine. A passionate writer, she’s also acting editor for Finder X and senior writer for Finder Green. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not writing she spends her time as an actress.
How to apply
You can submit a secure, online application in a few minutes through the Skye Mastercard website. To get started, make sure you meet the following eligibility requirements and have all the essential documents and details on hand.
- Minimum income. You must earn at least $25,000 to apply for this card.
- Credit history. You should only apply for this card if you have clean credit file without any black marks (such as defaults or previous bankruptcy listings). You can check your credit score for free through Finder.
- Residency. You must be an Australian citizen or permanent resident.
- Age. You must be at least 18 years old to apply.
- Personal information. This includes your full name, date of birth, residential address, email address and phone number.
- Identification. You'll need to provide details of your Australian driver's licence, Medicare card or Australian passport to help verify your identity.
- Employment details. This includes your current position at work, your salary and your employer's contact details. You'll also be asked to provide a recent bank statement to help verify your income. You can do this by emailing Skye after submitting the application or by securely signing into your bank account during the application.
- Financial details. As well as your salary, you'll need to share details of any other forms of income and assets such as savings. You'll also need to include details of any existing debts, such as loans or credit cards as well as estimates of everyday expenses such as rent and bills.
- 110 days interest-free on purchases. This card offers an interest-free period of up to 110 days on every purchase you make (excludes cash advances). At the end of the 110-day period, the standard purchase rate will apply to the balance. Note that you will still need to make minimum payments on your account by the due date listed on each statement.
- 0% foreign transaction fees. The Skye Mastercard charges a 0% foreign transaction fee when you're travelling overseas or shopping online with an international retailer.
- Interest-free instalment plan options. The Skye Mastercard offers SkyePlan interest-free instalment plans of 9-, 12- and 15-months for purchases of $250 or more. It also offers interest-free instalment plans of different lengths at partner retailers. SkyePlan instalment plans attract an establishment fee as a percentage of the purchase amount (3% for a 9-month plan, 4% for a 12-month plan and 5% for a 15-month plan).
- Mobile payment technology. You can easily make payments upon check out using an eligible device if you register this card to your Apple Pay wallet.
Rates & fees
- Annual fee. This card charges an annual fee of $99.
- Purchase rate. The standard purchase rate is 23.99% p.a. This means interest charges will quickly add up if you don't pay off purchases within the 110 interest-free days.
- Cash advance rate. The Skye Mastercard has a cash advance interest rate of 25.99% p.a. This rate applies to both cash advance transactions and cash withdrawals from the date they are made.
- Cash advance fee. If you use this credit card for a cash advance transaction, you'll be charged a cash advance fee of 3% or $3 (whichever is greater).
- Promotional rates. Occasionally, Skye may offer you a promotional interest rate for certain transactions or for a specific period of time. When that's the case, the promotional rate will apply for spending that meets the terms and conditions of the offer.
- Payment handling fee. A fee of $0.95 applies each time you make a payment to the account via BPAY.
- Additional cardholder fee. Request up to 4 additional cardholders added to your Skye Mastercard account for $10 per card.
- Instalment payment plan fee. If you request a SkyePlan instalment payment plan, you'll be charged a fee that's calculated as a percentage of the total amount payable on the card purchase selected (3% for a 9-month plan, 4% for a 12-month plan and 5% for a 15-month plan).