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Skye Mastercard – Exclusive Offer

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Get 0% interest on balance transfers for 25 months, along with up to 110 days interest-free on new purchases.

When you apply for the Skye Mastercard through Finder by 19 October 2020, you can pay off your existing card debts with a 0% introductory interest rate on balance transfers for the first 25 months with no balance transfer fee. At the end of the introductory period, an interest rate of 25.99% p.a. will apply to any unpaid amount.

Suited to those looking to buy now and pay later, this card also offers up to 110 days interest-free on everyday purchases and 0% p.a. instalment plans for up to 15 months when you make purchases of at least $250 or with selected retailers.

0% p.a.

Balance transfer rate

for 25 months

23.99% p.a.

Purchase rate

$99 p.a.

Annual fee

110 days

Interest free period

Details

Product NameSkye Mastercard - Exclusive Offer
Balance transfer rate0% p.a. for 25 months
Balance transfer revert rateBalance Transfer Revert Rate (25.99%)
Balance transfer limit80% of available limit
Purchase rate23.99% p.a.
Annual fee$99
Interest-free period110 days
Cash advance rate25.99% p.a.
Min credit limit$1,000
Max credit limit$50,000
Card typeMastercard
Foreign currency conversion fee0%
Minimum income$25,000
Available to temporary residentsNo
Joint applicationYes - Conditions apply

Pros

  • 0% p.a. on balance transfers for the first 25 months, with no BT fee
  • Up to 110 days 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

Cons

  • Very high interest rates on purchases and cash advances when promotional rates expire
  • Balance transfer reverts to 25.99%
  • Does not offer a rewards program or any complimentary insurance covers
Bonus pointsN/A
Annual fee$99
Late payment fee$35
Foreign currency conversion fee0%
Cash advance fee3% or $3, whichever is greater
Overseas cash advance fee3% or $3, whichever is greater
Overseas ATM withdrawal fee$0
Additional cardholder fee$10
Number of additional cardholders4

Expert review

Amy Bradney-George

Review by


Amy Bradney-George is the acting editor for Finder X and a senior writer for credit cards and Finder Green. She has more than 13 years' experience as a journalist and writer, with bylines in publications including The Equity Magazine, The Sydney Morning Herald, ABC News and produce industry website FreshPlaza. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not putting (virtual) pen to paper, she spends her time as an actress.

Expert review

The Skye Mastercard gives you 3 different interest-free options depending on how you use this credit card. If you want to pay off existing debt, the exclusive 0% p.a. for 25 months balance transfer offer can help you save on interest when you apply through Finder. But with a revert rate of 25.99% p.a., you will need to pay the entire debt off during the first 25 months if you want to avoid high interest charges.

For everyday purchases, you can get up to 110 days interest-free during each statement period. This is double the 55 days offered by many other cards but its 23.99% p.a. purchase rate is also much higher than most cards on the market. If you know you’ll pay the balance before the due date this could be a great option. However, if you think you might carry a balance from month to month, you may want to consider a lower rate credit card.

How to apply

You can apply for this exclusive offer through Finder in a few minutes by clicking the "Go to site" button and filling in the secure application form on the Skye website. To get started, make sure you meet the following eligibility requirements and have all the essential documents and details on hand.

Eligibility criteria

  • 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 a clean credit file without any black marks (such as defaults or previous bankruptcy listings). You can check your credit score for free through Finder.

Card benefits

  • Exclusive long-term balance transfer offer. Save on interest charges with 0% p.a. on balance transfers for up to 25 months when you apply through Finder by 19 October 2020. With this offer, you can transfer up to 80% of your available credit limit from credit and store card accounts not issued by Skye. Any unpaid balance at the end of the introductory period will revert to an interest rate of 25.99% p.a.
  • 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.

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.

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