Suncorp Clear Options Platinum Credit Card - Online Offer
- 0% p.a. for 18 months
on balance transfers
Discounted $49 first year annual fee
Offer ends 31 January 2019
Eligibility criteria, terms and conditions, fees and charges apply
Consolidate existing debts with an 18 month balance transfer offer and earn up to 60,000 bonus Rewards Points. Plus, save with a discounted annual fee for the first year.
The Suncorp Clear Options Platinum credit card offers a competitive balance transfer rate of 0% p.a. for the first 18 months (with no balance transfer fee) and up to 60,000 bonus Rewards Points when you spend $1,500 on eligible purchases each month for the first 6 months from card approval. Plus, take advantage of a discounted $49 annual fee for the first year when you apply online by 31 January 2019.
This card also earns points for every dollar spent on eligible purchases, with the choice between Suncorp Bank Rewards or Qantas Frequent Flyer points (for an additional annual fee of $49).
| Product Name | Suncorp Clear Options Platinum Credit Card - Online Offer |
|---|---|
| Rewards Program | Suncorp Bank Rewards Program |
| Balance transfer rate (p.a.) | 0% p.a. for 18 months |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Cash Advance Rate (21.99% p.a.) |
| Balance Transfer Limit | 80% of available credit limit |
| Purchase rate (p.a.) | 20.74% p.a. |
| Offer end date | 31 January 2019 |
| Annual fee | $49 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.) | 21.99% 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 | Visa |
| 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 |
| Joint Application | No |
| Annual fee | $49 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 | 3.5% of transaction amount, minimum charge of $3.50 |
| Overseas Cash Advance Fee | 1.50% of transaction amount (after conversion to Australia) |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 |
| Number of Additional Cardholders | 4 |
Pros
- Enjoy 0% p.a. on balance transfers for up to 18 months.
- Earn up to 60,000 bonus points when you spend $1,500 each month for six months from card approval.
- Save with a discounted annual fee of $49 for the first year when you apply online by 31 January 2019.
- Complimentary insurances are offered including travel insurance, purchase protection and transit accident insurance.
Cons
- A fee of $49 p.a. will apply if you opt-in to Qantas Frequent Flyer program.
| Rewards Program | Suncorp Bank Rewards Program |
|---|---|
| Bonus Points | 60,000 bonus points |
| Rewards Points per $ spent (VISA/MC) | 1.25 |
| Rewards Points per $ (VISA/MC) Cap | Uncapped |
Benefits of the Suncorp Clear Options Platinum - Online Offer
- Discounted annual fee offer. Save with a discounted first year annual fee of $49 when you apply online by 31 January 2019. Annual fee reverts to $129 p.a. thereafter.
- Balance transfer offer. Take advantage of a 0% p.a. interest rate on balance transfers for up to 18 months, with no balance transfer fee. After the introductory period, any remaining balance accrues interest at the cash advance rate, currently 21.99% p.a.
- Bonus points offer. Earn up to 60,000 bonus Rewards Points (10,000 each month) when you spend $1,500 or more per month for the first 6 months from card approval.
- Suncorp Bank Rewards or Qantas Points. Earn 1.25 Suncorp Rewards Points per $1 spent on eligible purchases, uncapped. If you opt-in to Qantas Frequent Flyer program, you'll earn 0.5 Qantas points per $1 spent on eligible purchases (capped at $8,000 per statement period).
- International travel insurance. Purchase your overseas travel tickets with your Platinum Credit Card and you and your family can get cover for medical expenses, unexpected trip cancellation, loss or theft of personal items and more.
- Additional cardholders. You can request up to 4 additional cards to be linked on your account at no extra cost.
- Platinum benefits. Other platinum benefits include access to a personal concierge services, extended warranty coverage and, special offers and discounts including exclusive tickets to theatre, dance, musicals, sporting events, dinner and travel packages.
Features of the Suncorp Clear Options Platinum - Online Offer
- Interest rates. This card charges a variable interest rate of 20.74% p.a. on purchases. Cash advances will attract a variable rate of 21.99% p.a.
- Interest-free days. If you pay your balance in full by the statement due date, you can get up to 55 days interest-free on your purchases. Note that interest-free days are not available for cash advance transactions or if you carry debt from a balance transfer.
- Credit limit. There is a maximum credit limit of $30,000 on this card. Note that individual credit limits are subject to Suncorp Bank's lending criteria. Depending on your circumstances, your credit limit may be lower than the maximum available.
- International transaction fee. This card charges a fee of 3.4% of each transaction made in foreign currencies.
How to apply for the Suncorp Clear Options Platinum - Online Offer
Applying for this card is easy and takes around 10 minutes online through Suncorp Bank's secure application website. Note that in order to be considered for the Suncorp Clear Options Platinum Credit Card, you must meet the following criteria:
Eligibility requirements
- You must be at least 18 years of age.
- You must earn an income of at least $35,000 per year.
- You must have a good credit rating.
Required documents
- Personal details. This includes your full name, date of birth, residential address, phone number and a valid form of identification, such as your driver's licence or Australian passport.
- Employment details. You'll need to provide proof of your current employment and salary, along with contact information of your employer.
- Financial information. This includes any other sources of income or assets, such as savings, as well as details of your monthly expenses, including rent or mortgage payments and utilities.
With premium features including rewards and complimentary insurance, plus the potential for a high credit limit, the Suncorp Bank Clear Options Platinum Credit Card is a competitive premium product. Now that you know more about these features and offers available, you can compare this card to others to find the right option for you.
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If I apply and get approved and transfer say 10k and have an approved limit of 20k … if I make purchases on the card i understand that the 55 day interest free does not apply to those purchases. If I purchase 1 product in the first month worth $100, my debit balance is now 10,100. Is interest then charged on the 100 only – or the whole 10,100? Talking to someone at Suncorp they have told me the whole 10,100 but my read of the t’s and c’s that I can find is that it only applies to the 100. The 10k is still interest free for the 18 months.
Hi Matt,
Thank you for your question.
No, not the whole $10,100. The interest for your purchases will only be applied to your purchases. So for instance your card has a balance transfer offer with free interest, that will remain the same for the interest-free period. Your purchases, meantime, will be charged with interest if in case you won’t be paying in full by the due date. Unless your card offers 0% interest for both purchases and balance transfer for a limited time, then you won’t be charged interest (for both purchases and BT) within the promo period.
Hope this has helped.
Cheers,
May
Regarding the 60k bonus points above, are they frequent flyer points? Can they be transferred to Qantas points? I am already an existing Qantas FF member.
Hello Leanne,
Thank you for your comment.
No. Qantas is not a partner of the Suncorp credit card Rewards program. You may check more details of the Suncorp Bank Rewards program here.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
do you need to make monthly for the amount (balance transferred) before the 0% period ends? Or you just need to pay off the full amount before the 0% interest rate period ends? thanks
Hi Sahlee,
Thanks for your message and for visiting finder.
Yes, with the balance transfer, you can pay your balance on a monthly basis. For instance, you’re able to transfer $5,000 to the card, payable within 18 months without interest, the estimated monthly would be $5,000/18 = $277.78 per month. Please note that you can pay equal to or more than your monthly payment until your balance is paid off before the 18-month period ends. Any amount left on the card after 18 months will have a 21.99% interest rate.
Hope this helps! Feel free to message us anytime should you have further questions.
Thanks,
Nikki
Are you able to do a balance transfer from 2 separate credit cards over to the 1 new one?
Eg. Westpac CC and CBA credit card each have 5K debt on each, can each of these be transferred onto a Suncorp 0% balance transfer card?
Thnks
Hi Tenielle,
Thanks for your question.
Yes, it is possible to transfer balances from multiple credit cards to a new balance transfer card. However, the total amount you can move depends on your approved and available credit limit on the new card.
For Suncorp balance transfer cards, you can transfer balances from various brands, but excluding those issued by Citigroup (BOQ, IMB, Virgin Money, and Citi).
For reference on where you can balance transfer to/from, you can check our guide here.
Cheers,
Anndy
What petrol stations can I use on my redeemed points.
Hi Peter,
Thanks for your question.
You can’t redeem your Suncorp Rewards points for fuel. However, you can redeem points for travel, gift cards, gadgets and more. For more details about Suncorp Rewards Program, please check this page
Cheers,
Anndy
Which banks offer the interest free rate on transfer of small loans?
Hi Sid,
Thank you for your question.
Just to clarify, are you referring to transferring your personal loan to a credit card? If so, Citibank and Virgin Money accept a balance transfer from personal loans to a credit card. Please feel free to visit this page and compare your balance transfer credit cards from these banks.
Hope this has helped.
Cheers,
May
If I use a Platinum Visa card to book my flights to Perth do I get travel insurance for
interstate travel.
Hi Vicki,
Thanks for your question.
Based on the terms and conditions of your card, if you have a Suncorp Bank Clear Options Platinum Credit Card, you will be eligible for the Interstate flight Inconvenience Insurance cover if:
– you used your card to pay for the entire cost of the return interstate flight (excludes taxes and airport and travel agent charges) prior to commencing the journey
– where the travel is for 14 consecutive days or less
For your convenience, I’ve sent you a link to the Suncorp Bank Credit Cards Description of Insurance Cover for your reference.
I hope this answers your question.
Cheers,
Anndy
I am retired what evidence of credit worthiness do you need?
Hi Mike, thanks for your inquiry!
If you’re retired, you need to provide your gross annual income (before tax and including super) and provide your most recent superannuation statement.
Cheers,
Jonathan
Is it true Suncorp is reducing it’s Qantas frequent flyer points for $$ spent to .5?
Hi Ellen,
Thank you for your question.
As of the moment, there is no official statement from Suncorp regarding reduction from their current Qantas Points. You may wish to contact directly a customer service representative from Suncorp to verify.
I hope this helps.
Cheers,
Debbie
Hi,
Regarding the $89 annual fee. Is this the ongoing annual rate, or introductory? Same for the additional Qantas linked $49 fee?
Hi Chris,
Thanks for your inquiry.
The $89 annual fee is an introductory offer applied for the first year of the card and applicable to customers who applies before 31 January 2016 only. The ongoing annual fee is $169. The $49 is charged as an additional annual fee for Suncorp Bank Qantas Frequent Flyer Rewards Program.
I hope this helps.
Cheers,
Sally