Summerland Rewards Credit Card

Last updated: Nov 6, 2020

Get 0% p.a. on balance transfers for the first 12 months and a $0 annual fee in the first year.

The Summerland Rewards credit card offers cashback rewards for eligible spending, with the cash added back to your account every six months.

If you have existing credit card debt with another issuer, you can take advantage of 0% p.a. on balance transfers for 12 months when you request a balance transfer at the time of your application.

0% p.a.

Balance transfer rate

for 12 months

18.99% p.a.

Purchase rate

Reward point

Per $ spent

$0 p.a.

Annual fee

for the first year ($79 p.a. thereafter)

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Details

Product Name	Summerland Rewards Credit Card
Rewards program	Rewarder Rewards Program
Balance transfer rate	0% p.a. for 12 months
Balance transfer revert rate	Purchase Rate (18.99% p.a.)
Purchase rate	18.99% p.a.
Annual fee	$0 annual fee for the first year ($79 p.a. thereafter)
Interest-free period	55 days
Cash advance rate	20.49% p.a.
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3%

Joint application	No

Pros

$0 first year annual fee
0% p.a. on balance transfers for the first 12 months with no balance transfer fee
Earn cash back rewards for your spending

Cons

Its cash advance rate, currently at 20.49% p.a., is relatively high.
A transaction fee of 3% is charged for online or overseas purchases made in a foreign currency using this card.

Rewards program	Rewarder Rewards Program
Rewards points per $ spent	1
Rewards points cap	100,000

Annual fee	$0 annual fee for the first year ($79 p.a. thereafter)
Minimum monthly repayment	2.5% of the closing balance or $20, whichever is greater
Late payment fee	$0
Foreign currency conversion fee	3%
Cash advance fee	$3.50

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Summerland Rewards credit card offers 0% p.a. on balance transfers for 12 months, with no balance transfer fee. You can also save on upfront costs thanks to a waived annual fee in the first year and $79 p.a. from the second year onwards.

If you’re more interested in getting rewarded for your spending, this card gives you 1 point per $1 spent on eligible purchases, with every 1,000 equal to $10 cashback on your account. This is equivalent to 1% cashback and rewards are automatically converted and credited to your account every 6 months.

As an example, if you spent $6,000 in the first 6 months you had this card, you would get $60 cashback. If you wanted to use the cashback rewards to cover the cost of the annual fee ($79 after the first year), you would need to spend at least $7,900 on eligible purchases over a 12-month period.

How to apply

You can apply for the Summerland Rewards credit card online. To get started, make sure you meet the eligibility criteria and have the required documents and details on hand for the application.

Eligibility criteria

Employment. You must currently have paid employment.
Residency. You must be an Australian citizen or a permanent resident with the right to work in Australia.

Age. You must be at least 18 years of age.

Required documents

Personal details. This covers your full name, date of birth, marital status, residential address, email address, phone number and living arrangements. You also need to provide one of the following valid forms of ID: your driver’s licence, passport or Medicare number.
Employment details. You will be asked to provide details of your salary, job title, length of employment and your employer’s contact information. You may also need to provide recent payslips to help verify these details.
Financial details. This includes any assets and savings as well as any debts and liabilities, including credit cards, loans and mortgages. You also need to provide estimates of your share of living expenses, including mortgage or rental payments, groceries and utility bills.
Balance transfer details. If you want to take advantage of the balance transfer offer on this card, you need to include your request with the application. This means you will need to provide details of the account, including the name on the card, the account number, the issuer and the amount of debt you want to transfer to your new card. Note that balance transfers are subject to lending criteria and approval.

Card benefits

Balance transfer offer. Pay off existing debt with a 0% p.a. interest rate for the first 12 months when you request a balance transfer at the time of your application. You can use this card to transfer existing debt from Australian credit cards that are not issued by Summerland, with a minimum transfer amount of $1,000. At the end of the introductory period, any remaining balance transfer debt will attract the 18.99% p.a. purchase rate.
$0 first-year annual fee. This card has a $0 annual fee for the first year. After the first 12 months, the annual fee reverts to $79 p.a. and is charged around the anniversary of your account opening.

Cashback rewards. This card offers 1 point per $1 spent on eligible purchases, with 1,000 points converting to $10 cashback on your account. Eligible purchases include groceries, retail shopping, petrol, dining and most everyday spending categories. Exclusions include balance transfers, cash advances, BPAY payments, payments to other credit card accounts and transactions that exceed your credit limit. Cashback is automatically credited to your account every six months. You can earn a maximum of 100,000 points (equivalent to $1,000 cashback) each year.
Up to 55 days interest free. If you pay your account’s closing balance in full by the due date on your statement, you can take advantage of up to 55 days interest-free on purchases. This interest-free period runs from the beginning of your statement period to the due date listed on your statement, meaning the number of interest-free days varies depending on when you make a purchase. Note that interest-free days are not available when you carry a balance transfer debt.
Visa features. As well as worldwide acceptance through the Visa network, this card offers tap-and-go payments at the checkout and extra security online through Verified by Visa. You can also make faster online payments through Visa Checkout and access exclusive offers on entertainment, shopping, dining and more through Visa Offers + Perks.

Rates & fees

Purchase rate. The Summerland Rewards credit card comes with an interest rate of 18.99% p.a., which is similar to purchase rates on other rewards cards.
Currency conversion fee. A fee of 3% applies when you use this card for purchases made overseas or online in a foreign currency.

Cash advances. If you use this card to withdraw cash or make any other cash advance transactions, a fee of $3.50 applies. The transaction will also attract the cash advance interest rate of 20.49% p.a. from the date it is made.

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Summerland Rewards Credit Card