There is plenty to cheer about with the Southwest Credit MyCard Mastercard. The card offers up to 55 interest free days, allowing the card holder the opportunity to save on finance charges if the balance is paid in full by the end of the billing cycle each month. The card also comes with the PayLite option which allows the card holder to spread the payments of big-ticket items over a period of time at a lower interest rate.
Southwest Credit MyCard Mastercard offers very generous rewards for the reward inclined. This allows the card holder the opportunity to pay for the annual fee using your rewards points or accrue vouchers or flyer points. Purchase insurance cover is also included to cover lost or stolen packages, as is delivery guarantee.
Southwest Credit MyCard Mastercard covers their credit cards with FraudShield. They monitor each credit card continuously for transactions out of the ordinary for the card holders spending habits or purchase amounts. Southwest Credit MyCard Mastercard will call the card holder and verify all such purchases before authorizing payment.
Interest Free Days
Southwest Credit MyCard Mastercard has one of the valuable features a credit card can offer its card holders, and that is interest free days. What that means is if the credit card user pays their balance in full at the end of each billing cycle, they will be charged no interest. If there is a balance due at the end of the billing cycle and a purchase was made at any time during the interest free days time frame, there will be no interest charged for that number of days.
For example, if the interest free days are 55, and 01 April is the first day of the billing period, and 30 April is the last day, 25 May is the day payment is due on the balance. If a purchase was made on 20 April, the credit card is only charged interest on 35 days if the balance is not paid at the end of the billing cycle. If the entire credit card balance is paid before the end of the billing cycle, there are no interest charges assessed.
This can be a huge saver for the card holder if used responsibly. The card holder could save thousands of dollars in yearly interest charges if making large purchases. If there are large purchases in your future, this interest free card could save the card holder money in the long run.
The Application and Approval Process
Southwest Credit MyCard Mastercard applications are available at the nearest South West Credit Branch. Applications can be filled out in person at the bank or filled out at home and either taken back to the bank or mailed to the bank. All information designated with a red star is required information. Applicants must be at least 18 years of age and be a permanent resident of any state of Australia. The applicant must also be permanently employed with documented evidence of proof.
An application is reviewed for completeness and credit worthiness and approved or not approved within 48 hours. Applications considered incomplete will be returned to the applicant with a more information request. This will delay the approval process.
Once approved, the new credit card holder must agree to the Terms and Conditions to officially establish the account. The applicant will be bound by the Terms and Conditions.
There is no penalty for paying the balance in its entirety at any time during the billing cycle. Any time a balance is paid in the full before the end of the billing cycle is not charged any interest.