Pay 0% p.a. for up to 14 months on balance transfers and get a bunch of insurance covers for free.
The Southern Cross Credit Union Platinum Rewards Mastercard comes with a special introductory interest rate offer where you don’t have to pay any interest on balance transfers for the first 14 months. Purchases you make using this card receive complimentary insurances, and you can also make use of various complimentary travel insurances. This card comes linked to a rewards program, enabling you to earn rewards as per your spending. Access to a platinum concierge service is free, and you can pay a discounted annual fee in the first year if you apply in time.
| Product Name | Southern Cross Credit Union Platinum Rewards Mastercard |
|---|---|
| Rewards Program | Card 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 Limit | 80% of available credit limit |
| Purchase rate (p.a.) | 20.24% p.a. |
| Offer end date | 31 January 2018 |
| Annual fee | $99 p.a. annual fee for the first year ($129 p.a. thereafter) |
| 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 Repayment | 2% or $30 whichever is greater |
| Minimum Income | $35,000 |
| Card Type | Mastercard |
| Late Payment Fee | $10 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, 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. | 3.4% of transaction value |
| Complimentary Travel Insurance | Yes |
| Available To Temporary Residents | No |
| Minimum Income | $35,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available to Temporary Residents | No |
| 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. annual fee for the first year ($129 p.a. thereafter) |
|---|---|
| Minimum Repayment | 2% or $30 whichever is greater |
| Late Payment Fee | $10 |
| Over Limit Fee | $0 |
| Cash Advance Fee | $3.50 (or 3.50% of amount when >= $100) for each cash advance |
| Overseas Cash Advance Fee | $5 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, 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. | 3.4% of transaction value |
| Additional Cardholder Fee | $0 p.a. |
| Number of Additional Cardholders | 4 |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| Yes |
| Rewards Program | Card Services Rewards Program |
|---|---|
| Bonus Points on Sign-up | 20,000 |
| Rewards Points per $ (VISA/MC) | 1 |
| Points Expiry | Never |
Southern Cross Credit Union Platinum Rewards Mastercard Review
You can save a tidy sum in the form of interest if you use this card for balance transfers since it doesn't attract any interest in the first 14 months can lead to further savings. The ability to earn rewards in different forms is a plus, as is access to a round-the-clock concierge service. You can also make use of its various complimentary insurance covers in different situations.
Benefits of the Southern Cross Credit Union Platinum Rewards Mastercard
- Balance transfer offer. You can make use of this card to transfer balances from existing cards and you don’t have to worry about paying any interest for the first 14 months.
- Bonus points. Enjoy 20,000 introductory points with Southern Cross Credit Union Platinum Rewards Mastercard if you apply before 31 January 2018 and spend $3,000 in the first 3 months of card approval.
- Rewards. This platinum card comes linked to the Card Services Rewards Program, and you earn 1 reward point for every dollar spent on eligible purchases. These points don’t expire for as long as your account remains in good standing. Redeeming reward points presents options like using them as cashback, using them to book flight tickets, transferring them to a frequent flyer program account, or exchanging them for store and travel vouchers.
- Complimentary insurances. This card provides a number of complimentary insurance covers, which include guaranteed pricing scheme, purchase cover insurance, transit accident insurance, interstate flight inconvenience insurance, and international travel insurance.
- Platinum concierge service. This global 24/7 service can help you make travel plans, reserve tables at restaurants, books tickets for different kinds of events, organise gifts, and much more.
Southern Cross Credit Union Platinum Rewards Mastercard features
- Annual fee. Apply before 31 January 2018, and pay a discounted annual fee of $99 in the first year. A fee of $129 p.a. applies thereafter.
- Interest rate offer. For the first 14 months from the date of the card’s approval, balances from balance transfers don’t attract any interest.
- Interest-free days. You can make use of up to 55 interest-free days on purchases, provided you pay your account’s closing balance in full every month.
- Complimentary insurances. This platinum card offers various travel and purchase insurances for free.
- Concierge service. A multilingual 24/7 platinum concierge service can provide assistance in matters relating to travel, entertainment, and business.
- Additional cardholders. You can get as many as 4 additional cards linked to your primary card, and spending on these cards earns rewards as well. Additional cardholders should be at least 16 years old.
- PayPass. You can make contactless payments of under $100 at merchants who support this technology.
- Card security. Fraudshield monitors your account activity to detect suspicious transactions, and notifies you of the same immediately. In the online world, SecureCode provides an added layer of security.
How to apply for the Southern Cross Credit Union Platinum Rewards Mastercard
Applying online should take around 10 to 15 minutes, or you can visit any Southern Cross Credit Union branch to apply. If you want to apply online, start by clicking on the ‘Go to Site’ button. Make sure you meet the following eligibility criteria before you begin:
Eligibility criteria
- You’re over 18 years of age.
- You’re a permanent resident of Australia.
- You earn at least $35,000 p.a.
- You have good creditworthiness.
Required documents
Applying for this card requires that you provide different kinds of information, so prepare to part with the following:
- Copy of your Australian driver’s license, passport, or Medicare card
- Copies of your last two payslips
- Copies of recent credit card and loan statements
While this card seems like a good one to use, take into account that you can find features it offers in other cards as well, so take some time to compare a few before applying.
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