Suncorp Clear Options Platinum Credit Card – Online Offer

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Consolidate existing debts with an 18-month balance transfer offer and earn up to 60,000 bonus Suncorp Rewards Points.

You can transfer existing debt and save on interest costs with 0% p.a. on balance transfers for the first 18 months with the Suncorp Clear Options Platinum credit card.

$49 p.a.

Annual fee

for the first year ($129 p.a. thereafter)

0% p.a.

Balance transfer rate

for 18 months

60,000

Bonus points

20.74% p.a.

Purchase rate


Consolidate existing debts with an 18-month balance transfer offer and earn up to 60,000 bonus Suncorp Rewards Points.

You can transfer existing debt and save on interest costs with 0% p.a. on balance transfers for the first 18 months with the Suncorp Clear Options Platinum credit card.


Details

Product NameSuncorp Clear Options Platinum Credit Card - Online Offer
Rewards ProgramSuncorp Bank Rewards Program
Balance Transfer Rate0% for 18 months
Balance Transfer Revert RateCash Advance Rate (21.99% p.a.)
Balance Transfer Limit80% of available balance
Purchase Rate20.74% p.a.
Annual Fee$49 for the first year ($129 thereafter)
Interest Free Period55 days
Cash Advance Rate21.99% p.a.
Minimum Credit Limit$6,000
Maximum Credit Limit$30,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)3.4% of transaction value
Complimentary Travel InsuranceYes
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Joint ApplicationNo

Pros

  • 0% p.a. on balance transfers for up to 18 months.
  • Earn up to 60,000 bonus points.
  • Discounted annual fee of $49 for the first year.
  • Complimentary travel insurance, purchase protection and transit accident insurance.

Cons

  • The full bonus points spend requirement can be difficult to meet at $1,500 each month for six months.
  • Cashback value of Suncorp Reward points for select & credit is relatively low at 1.67%
Rewards ProgramSuncorp Bank Rewards Program
Bonus Points60,000 bonus points
Rewards Points per $ spent (Visa/Mastercard)1.25
Rewards Points per $ Cap (Visa/Mastercard)Uncapped
Annual Fee$49 for the first year ($129 thereafter)
Minimum Monthly Repayment2% of transaction value or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (Visa/Mastercard)3.4% of transaction value
Cash Advance Fee3.5% or $3.50, whichever is greater
Overseas Cash Advance Fee1.5%
Additional Cardholder Fee$0
Number of Additional Cardholders4

Expert Review

Sally McMullen

Review by

Sally McMullen


Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert Review

The Suncorp Clear Options Platinum online offer combines the features of a rewards and balance transfer credit card. Unlike many credit cards in this category, it doesn’t charge a balance transfer fee. This and the reduced first year annual fee could help you cut costs compared to other cards.

How To Apply

You can apply for this credit card online in around 10 minutes. Check if you meet the eligibility criteria and that you have the necessary information to complete the application before you get started:

Eligibility criteria

  • Income. You must earn an income of at least $35,000 per year.
  • Credit history. You must have a good credit score.

Card Benefits

  • Discounted annual fee. Save with a discounted first year annual fee of $49 when you apply online by 30 June 2019. The 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 21.99% p.a. cash advance rate. You can transfer up to 80% of your approved credit limit from Australian non-Suncorp credit card accounts.

Rates & Fees

  • 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. Interest-free days are not available for cash advance transactions or if you carry debt from a balance transfer.

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50 Comments

  1. Default Gravatar
    RenHart
    March 26, 2019

    Hi can you please tell me what 60,000 bonus points as? As in convert to frequent flyer points or which points? Thanks

    • Staff
      Nikki
      March 27, 2019

      Hi RenHart,

      Thanks for getting in touch! You can get 60,000 Suncorp Rewards Points points when you spend $1,500 on eligible purchases each month made in Australia and internationally for 6 months from account approval. Bonus reward points will be credited to your Rewards Balance within 6-8 weeks of meeting the spend criteria. Eligible transaction means any purchase on the card excluding cash advances, balance transfers, special promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, payments to other Suncorp Bank accounts, bank fees and charges such as interest and ATM charges, transactions made using Points and government-related transactions.

      Hope this clarifies!

      Best,
      Nikki

  2. Default Gravatar
    Matt
    December 6, 2018

    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.

    • Staff
      May
      December 12, 2018

      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

  3. Default Gravatar
    LEANNE
    November 30, 2018

    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.

    • Staff
      Jhez
      December 6, 2018

      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

  4. Default Gravatar
    sahlee
    May 9, 2018

    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

    • Staff
      Nikki
      May 9, 2018

      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

  5. Default Gravatar
    Tenielle
    August 2, 2017

    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

    • Staff
      Lou
      August 3, 2017

      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

  6. Default Gravatar
    Peter
    February 6, 2017

    What petrol stations can I use on my redeemed points.

    • Staff
      Lou
      February 7, 2017

      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

  7. 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

  8. 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
      Lou
      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

  9. 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

  10. 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

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