Suncorp Clear Options Platinum Credit Card – Rates and Fees

Information verified correct on December 10th, 2016

Earn rewards for everyday purchases, enjoy complimentary insurance cover and consolidate your debts with a 0% p.a. balance transfer offer.

With the Suncorp Clear Options Platinum Credit Card you have more available credit to grow your rewards points. It features a complimentary rewards program that offers points for every dollar spent, with the choice between Suncorp Bank Rewards or Qantas Frequent Flyer points (for an additional annual fee of $49). This card also offers complimentary travel insurance and purchase insurance options, as well as a competitive balance transfer offer of 0% p.a. for 18 months.

Product NameSuncorp Clear Options Platinum Credit Card
Rewards ProgramSuncorp 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 Limit80% of available credit limit
Purchase rate (p.a.)20.74% p.a.
Offer end date31 January 2017
Annual fee$169 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.)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 on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Minimum Monthly Repayment2% or $30, whichever is the greater
Minimum Income$35,000
Card TypeVisa
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 InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
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.
$6,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Annual Fee$169 p.a.
Minimum Repayment2% or $30, whichever is the greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.50% of the Transaction amount, with minimum charge $3.50 per Transaction
Overseas Cash Advance Fee1.50% of Transaction amount (after conversion to Australia)
Overseas Emergency Replacement$50
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$5
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 AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Get a balance transfer offer of 0% p.a. for 18 months.
  • Receive 5% cashback on all retail purchases for the first 3 months (up to $250 cashback).
  • Enjoy up to 55 interest-free days on purchases.
  • Complimentary insurances are offered including travel insurance, purchase protection, transit accident insurance.

Cons

  • At the end of the promotional period, balance transfer rate will revert to the cash advance rate of 21.99% p.a.
Rewards ProgramSuncorp Bank Rewards Program
Rewards Points per $ (VISA/MC)1.25
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap120,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Suncorp Clear Options Platinum Credit Card review

The Suncorp Clear Options Platinum Credit Card comes with a range of premium benefits, including complimentary travel insurance, purchase protection insurance and a rewards program. This card can also help you manage your debt repayments, with a competitive 0% p.a.  balance transfer offer for the first 18 months.

Benefits of the Suncorp Clear Options Platinum Credit Card

  • Balance transfers. Apply and get approved by 31 January 2017 to take advantage of a 0% p.a. balance transfer offer for 18 months (reverting to the cash advance rate). You can transfer balances worth of up to 80% of your credit limit (subject to approval).
  • Cashback offer. Receive 5% cashback on all retail purchases for the first 3 months from card approval (up to a total of $250 cashback).
  • Interest-free period. If you pay your balance in full by the statement due date, you can get up to 55 days to pay for your purchase before you will be charged interest.
  • Suncorp Bank Rewards. Earn 1.5 points per $1 spent and redeem them for travel, merchandise and more through the Suncorp Bank Rewards program.
  • Suncorp Qantas Frequent Flyer. For an annual fee of $49, you can opt-in to earn 0.5 Qantas Frequent Flyer point for every $1 spent.
  • Purchase cover. Protect your purchases from damage, theft and loss.
  • Interstate flight inconvenience insurance. This cover protects you and your family while traveling through Australia from flight delays, loss of personal items and high rate taxi services.
  • Guaranteed pricing scheme. Allows you to be reimbursed for the difference in price, up to $500, between a covered product you have purchased on your card and the same covered product advertised in a catalogue at a lower price.
  • International travel insurance. International Travel Insurance covers you for up to 6 months on your Platinum card when travelling overseas.
  • Transit accident insurance. When traveling outside of Australia you will be protected from injury or death with travel accident insurance.

Features of the Suncorp Clear Options Platinum Credit Card

  • Maximum 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.
  • Interest rate for purchases. The standard variable interest rate of 20.74% p.a. will be charged for purchases.
  • Interest rate for cash advances. Cash advances will attract a standard rate of 21.99% p.a. (variable).
  • Purchase with payWave. You can make instant purchases using Visa payWave when the transaction is less than $100.
  • 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.
  • Worldwide acceptance. The Clear Options Platinum card is accepted at over 22 million locations around the world, anywhere Visa is accepted.
  • Security. This card comes with 24/7 Customer Service and Emergency Card Replacement.
  • Payment methods. You can make repayments via the Suncorp Bank Internet banking and telephone banking platforms. You can also set up direct debits, pay in person at a Suncorp Bank branch, mail a cheque or pay via BPAY, ATMs, and EFTPOS.
  • Rewards cap. Reward points are capped at 120,000 points per 12 month period for Platinum cardholders. All rewards are also subject to the Terms and Conditions of the Suncorp Bank Rewards Program, available on the Suncorp Bank website.

How to apply for the Suncorp Clear Options Platinum Credit Card

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 at least $35,000 per year
  • You must have a good credit rating
  • You must be an Australian permanent resident or citizen

Required documents

  •  Your name, address, phone number
  • Proof of your currently employment along with contact information of your employer
  • This should include your total gross salary plus any other sources of income.
  • Proof of your share of monthly expenses, including rental payments and utilities
  • A copy of your driver’s license, both the front and back
  • Contact information of a friend or relative who does not live with you

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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38 Responses to Suncorp Clear Options Platinum Credit Card – Rates and Fees

  1. Default Gravatar
    Sid | August 26, 2016

    Which banks offer the interest free rate on transfer of small loans?

    • Staff
      May | August 28, 2016

      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

  2. Default Gravatar
    vicki | July 22, 2016

    If I use a Platinum Visa card to book my flights to Perth do I get travel insurance for
    interstate travel.

    • Staff
      Anndy | July 22, 2016

      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

  3. Default Gravatar
    Mike | February 12, 2016

    I am retired what evidence of credit worthiness do you need?

    • Staff
      Jonathan | February 12, 2016

      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

  4. Default Gravatar
    | January 23, 2016

    Is it true Suncorp is reducing it’s Qantas frequent flyer points for $$ spent to .5?

    • Staff
      Debbie | January 23, 2016

      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

  5. Default Gravatar
    Chris | July 24, 2015

    Hi,
    Regarding the $89 annual fee. Is this the ongoing annual rate, or introductory? Same for the additional Qantas linked $49 fee?

    • Staff
      Sally | July 24, 2015

      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

  6. Default Gravatar
    june | June 15, 2015

    Hi, What is the reward point used for? I’m not interesting about Qantas Flyer Point. Can I use that points to redeem any cash or voucher shopping like Commonwealth Bank?

    • Staff
      sally.mcmullen@hiveempire.com | June 15, 2015

      Hi June,

      Thanks for your question.

      Yes, you can redeem your Suncorp Bank Rewards Points for more than just frequent flyer points.

      You can redeem your Suncorp Bank Rewards Points for a number of products including merchandise (ranging from homewares and home theatre to personal entertainment and outdoor equipment). You can also redeem your points via the Travel Centre for flights, accommodation, car rental and holiday packages. Suncorp Bank Rewards Credit Card Members can also transfer points to KrisFlyer, Emirates Skywards and Velocity airline partners points.

      I’ve emailed you a link to the Suncorp Bank Credit Card Rewards page so you can browse some of your options in further detail.

      I hope this has helped answer your question.

      Thanks,

      Sally

  7. Default Gravatar
    Ash | May 31, 2015

    Hi there, I have an Esanda car loan, would you be able to balance transfer to a C/C?

    Thanks, Ash

  8. Default Gravatar
    jaci | May 28, 2015

    Can I balance transfer on a low interest rate to pay a personal loan out?
    Thanks,
    Jaci

  9. Default Gravatar
    AMAR | May 6, 2015

    Apply for a credit card?

    • Staff
      Jonathan | May 7, 2015

      Hi Amar, thanks for your inquiry!

      To apply for this credit card you need to be at least 18 years of age, earn at least $35,000, have permanent Australian residency status and have a good credit rating. If you meet these application requirements you will be eligible to apply for this card by going directly to the Suncorp website.

      Cheers,

      Jonathan

  10. Default Gravatar
    danielle | April 13, 2015

    Is this offer (0% interest for 18 months) available for pre-existing customers?

    • Staff
      Jonathan | April 13, 2015

      Hi Danielle, thanks for your inquiry!

      The terms and conditions state that unless the transfer is from Citigroup or Suncorp Credit Cards, you will be eligible for this balance transfer offer if you meet the application criteria.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated December 10th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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