Skye Mastercard review

Take advantage of a $0 first year annual fee, 90 interest-free days on purchases and extra security with MOTION CODE.

You can use the Skye Mastercard to pay on plastic without the burden of interest. The card comes with 90 days interest-free on purchases as well as 9-, 12- or 15-month instalment payment plans.

It’s also the first Australian credit card to have a dynamic CVV thanks to MOTION CODE technology. This means that the 3-digit security code on the back of your card will refresh every hour, offering you extra protection against fraudulent transactions.

The Skye Mastercard offers $0 foreign transaction fees for overseas purchases made online or when you’re travelling internationally. These features come at the cost of a $0 annual fee for the first year ($99 p.a. thereafter) when you apply through finder.

Product NameSkye Mastercard - Online Offer
Purchase rate (p.a.)23.99% p.a.
Annual fee$0 p.a. annual fee for the first year ($99 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 90 days on purchases
Cash advance rate (p.a.)25.99% 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.
Max credit limit
This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application.
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.
0% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$25,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationYes
Annual fee$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Minimum Monthly Repayment3% or $30, 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.
0% of transaction value
Cash Advance Fee3% or $3 (whichever is greater)
Overseas Cash Advance Fee3% or $3 (whichever is greater)
Overseas ATM Withdrawal Fee$0
Gambling Transactions AllowedYes
Additional Cardholder Fee$10
Number of Additional Cardholders4


  • Apply online through finder and save with a $0 first year annual fee ($99 p.a. thereafter).
  • This is the first Australian credit card that features MOTION CODE technology which provides your card extra security against fraudulent transactions.
  • Enjoy a generous 90 interest-free day period giving you more breathing space to pay off your purchases.
  • This card charges $0 foreign transaction fees on online and overseas purchases.


  • This card charges high interest rates on purchases and cash advances when promotional rates expire.
  • A $20 fee applies for using the MOTION CODE technology feature.

How does MOTION CODE security work?

When you shop online or make a credit card payment over the phone, you’ll be asked for a three-digit security code to verify the card. This code is printed on regular credit cards, usually in the corner of the signature panel.

When you get a credit card with MOTION CODE technology, the three-digit code is displayed in a digital panel on the card and changes regularly. This helps protect your card against fraud since anyone with details of the card would also need the latest security code to use it.

Features and benefits of the Skye Mastercard

  • $0 annual fee. Apply online through finder and save with a first year annual fee waiver.
  • $0 foreign transaction fees. The Skye Mastercard charges $0 foreign transaction fees when you’re shopping online or travelling overseas.
  • 90 days interest-free on purchases. This card offers an interest-free period of 90 days on every purchase you make (excludes cash advances). At the end of the 90-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.
  • MOTION CODE security feature. Get another layer of security for online transactions by requesting MOTION CODE technology on your Skye Mastercard. If you’re approved, you’ll be issued with a card that has a digital CVV security code that changes every hour. Note that this feature comes with a $20 fee.
  • Interest-free instalment plan options. The Skye Mastercard offers interest-free instalment plans of 9, 12 and 15 months when you use it for purchases of $250 or more. SkyePlan instalment plans are subject to approval and attract a fee that’s calculated based on the total balance you want to pay off in instalments.

Rates and fees of the Skye Mastercard

  • Annual fee. Outside of any promotions, this card charges an annual fee of $99.
  • Purchase rate. The standard purchase rate is 23.99% p.a.
  • Cash advance rate. The Skye Mastercard has an ongoing cash advance interest rate of 25.99% p.a. This rate applies to both cash advance transactions and dishonoured payments 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).
  • Additional cardholder fee. Request up to 4 additional cardholders added to your Skye Mastercard account for $10 p.a. per card.
  • MOTION CODE fee. A fee of $20 applies for any Skye Mastercard credit card that includes the MOTION CODE security technology.
  • 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.

Promotional interest 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.

At the end of the promotional period, an “expired promotional rate” of 25.99% p.a. will apply to any remaining balance you carry from purchases made during the promotional period.

How to apply for the Skye Mastercard

You can submit a secure, online application in around 10 minutes through the Skye Mastercard website, and you should get a response soon after completing your application. To get started, make sure you meet the following eligibility requirements and have all the essential documents and details on hand.

Eligibility checklist

  • Are you at least 18 years old? You must be over 18 years old to apply for a credit card in Australia.
  • What’s your Australian residency status? You’re eligible to apply for this card if you’re a permanent Australian resident or citizen.
  • Do you meet the minimum income requirements? You have to earn at least $25,000 p.a. to apply for this card.
  • Do you have a clear credit file? You should not apply for this card if you have any black marks on your credit file, such as defaults or previous bankruptcy listings.

Details and documents you’ll need for the application

  • 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 may also need to provide several recent payslips as supporting documentation for your 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.

The Skye Mastercard offers a range of features that are different to most cards in Australia, including MOTION CODE technology, 90 days interest-free on purchases and instalment payment options. There's also the potential to save with a $0 first year annual fee and on overseas spending with $0 foreign transaction fees. However, the high interest rates and inclusion of other, less familiar fees and charges make it important to compare this card to other options so you can decide if it's affordable for you.

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3 Responses

  1. Default Gravatar
    DanJanuary 16, 2019

    Hi, just some comments not a question on skye mastercard.
    I’ve had mine for almost a month.
    They charge a fee for making repayments, it was $0.95 on a $99 repayment!

    Also Skye were unable to tell me what retailers I can use it at when asked on 2 separate occasions, they just pointed to the website which as far as I can tell does not list any retailers. I joined skye because it is Ikea’s preferred card. Ikea may accept their older interest free provider, HSBC, but ask the checkout supervisor.

  2. Default Gravatar
    samanthaOctober 5, 2018

    Can i pay for accommodation on my skye master card?
    (thats not threw flight center?)

    • finder Customer Care
      JohnOctober 5, 2018Staff

      Hi Samantha,

      Thank you for leaving a question.

      Yes you may use the Skye Mastercard as long as the merchant you are transacting with accepts payments through Mastercard. Hope this helps!


Credit Cards Comparison

Rates last updated April 19th, 2019
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Citi Clear Platinum Credit Card
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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.
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* The credit card offers compared on this page are chosen from a range of credit cards 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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