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 2019 |
| Annual fee | $99 p.a. annual fee for the first year ($129 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 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 upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. | $30,000 |
| Card Type | Mastercard |
| 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 |
| Minimum Income | $35,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available To Temporary Residents | No |
| Annual fee | $99 p.a. annual fee for the first year ($129 p.a. thereafter) |
|---|---|
| Minimum Monthly Repayment | 2% or $30 whichever is greater |
| 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 |
| Cash Advance Fee | $3.50 (or 3.50% of amount when >= $100) for each cash advance |
| Overseas Cash Advance Fee | $5 |
| Additional Cardholder Fee | $0 |
| Number of Additional Cardholders | 4 |
| Rewards Program | Card Services Rewards Program |
|---|---|
| Bonus Points | 20,000 bonus points |
| Rewards Points per $ spent (VISA/MC) | 1.25 |
| Rewards Points per $ (VISA/MC) Cap | 100,000 |
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 when you 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 1.25 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. 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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