The Suncorp Clear Options Business Credit Card lets you maximise your business cash flow and get rewarded in the process.
Tailored specifically for the needs of small to medium businesses, the Suncorp Clear Options Business Credit Card provides the opportunity for positive cash flow and streamlined accounting. It also offers an optional rewards program and up to 99 additional cardholders.
Suncorp offers four Visa credit cards – Low Rate, Gold, Platinum and Business – with varying features and bonuses. If you only require a single card, it may be worth including these options in your credit card comparison.
| Product Name | Suncorp Clear Options Business Credit Card |
|---|---|
| Rewards Program | Suncorp Bank Rewards Program |
| Purchase rate (p.a.) | 18.45% p.a. |
| Annual fee | $45 p.a. |
| 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.) | 19.45% 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. | $2,000 |
| Minimum Monthly Repayment | 2% or $30, whichever is the greater |
| Minimum Income | $35,000 |
| Card Type | Visa |
| 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 | No |
| Available To Temporary Residents | No |
| Joint Application | 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. | $2,000 |
| Annual Fee | $45 p.a. |
|---|---|
| Minimum Repayment | 2% or $30, whichever is the greater |
| Late Payment Fee | $10 |
| Over Limit Fee | $0 |
| Cash Advance Fee | 3.50% of the Transaction amount, with a minimum charge of $3.50 |
| Overseas Cash Advance Fee | 1.50% of Transaction amount |
| 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 |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $45 p.a. |
| Number of Additional Cardholders | 99 |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| In Branch | Yes |
| Yes |
| Rewards Program | Suncorp Bank Rewards Program |
|---|---|
| Rewards Points per $ (VISA/MC) | 1 |
| Rewards Points per $ (AMEX) | 0 |
| Rewards Points per $ (VISA/MC) Cap | 80,000 |
| Rewards Points per $ (AMEX) Cap | N/A |
| Points Expiry | Never |
Suncorp Clear Options Business Credit Card review
The Suncorp Clear Options Business Credit Card is designed to keep your business expenses on track. As well as offering up to 99 additional cards for employees, you can tailor the credit limit for each cardholder and produce individual statements for their expense claims. These features can lead to more accountability for spending, less paperwork and a more streamlined accounting system.
This unsecured line of credit also gives you the flexibility to carry a balance when you make minimum monthly payments by the statement due date. Alternatively, you can take advantage of up to 55 days interest-free if you pay off your balance by the statement due date.
Benefits of the Suncorp Clear Options Business Credit Card
Some of the main benefits of the Suncorp Clear Options Business Credit Card include:
- Competitive interest rates. General purchases are charged at 18.45% p.a. and the cash advance rate is 19.45% p.a.
- 55 days interest-free. Maintain a positive cash flow with up to 55 days interest-free on retail purchases as long as the balance is paid by the due date.
- Total expense management. Each card in the account can be personalised with different credit limits and individual statements.
- Rewards Program. The optional Suncorp Rewards Program offers flexibility in membership and reward options, allowing you to earn 1 point for every dollar spent. The standard membership level costs an extra $20 p.a. (per card) and the premium membership costs an extra $69 p.a. (per card). Reward options include flights, gift vouchers and cash back.
Features of the Suncorp Clear Options Business Credit Card
- Annual fee. The main cardholder and each additional cardholder are charged $45 each year.
- Peace of mind. FRAUDSHIELD protects your card with premium security technology that detects and prevents sophisticated fraud attempts. Dedicated customer service is available 24 hours a day and emergency card replacement is available within 24 hours, Australia-wide.
- Worldwide acceptance. The Clear Options Business Credit Card is accepted at over 29 million locations worldwide.
- Convenient purchasing. You can make instant purchases using Visa PayWave when the transaction is less than $100.
How to apply for the Suncorp Clear Options Business Credit Card
Eligibility criteria
Make sure you meet the following eligibility criteria before applying for the Suncorp Clear Options Business Credit card.
- You must be over 18 years of age
- You must be an Australian citizen or permanent resident of Australia
- You must be a business owner, partner or company director
Required documents
- Australian driver’s licence number
- Australian Business Number (for partnership and trust)
- Accountant’s name and contact number
- Details of your income, expenses, assets and liabilities
- Each owner/partner/director will need to fill out a portion of the application with their corresponding details
Note that any cards for additional individuals, such as employees, can be requested by submitting an additional cardholder request form.
The Suncorp Clear Options Business Credit Card provides a range of features to streamline business accounting and the option of getting rewards for work spending. Now that you know more about the features and benefits of this card, you can compare a range of options to find the right product for your business' needs.
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I try to create the Internet Banking. but I can not success to open.
Hi Surendra, thanks for your comment.
Online application requires a reliable internet connection and make sure that the uploaded attachments meet the specific file sizes. Otherwise, you may have entered some information incorrectly or there could’ve been an issue on their end. We would recommend that you contact Suncorp directly on 13 11 75 or visit their local branch to receive assistance with your application.
I hope this helps.
Thanks,
Sharon
What is the difference in rewards between the standard and premium rewards programme.
Hi Glen, thanks for your inquiry!
If you are a Suncorp credit card holder you are automatically enrolled into the rewards program. Standard and premium rewards options are available through this program. For more information on this rewards program please refer to the link I have sent to your email.
Cheers,
Jonathan