Suncorp Credit Cards Rewards Program Guide

The Suncorp Bank Rewards program offers points for everyday credit card spending, which can then be redeemed for a variety of rewards including travel, merchandise and gift cards. You can use this guide to learn about how the Suncorp Bank Rewards program works, what rewards you can get and how to compare Suncorp credit cards that give you access to this program.

How does the Suncorp Bank Rewards program work?

If you get a Suncorp Clear Options Gold or Suncorp Clear Options Platinum credit card, you will automatically be enrolled in the Suncorp Bank Rewards program. This allows you to earn points for every $1 spent on eligible transactions. If you get a Suncorp Clear Options Business credit card account, you can also pay a Standard Rewards fee of $20 p.a. per card to opt-in to this program. This allows you to earn points on your eligible business spending throughout the year.

When you have earned enough points through your eligible credit card, you can redeem them for a range of rewards available through the Suncorp Bank Rewards website.

Suncorp Bank Rewards program terms and conditions

Some of the key details for this credit card rewards program include:

• No points expiry. Suncorp credit card Rewards program points don’t expire, allowing you to save them up for larger redemptions.
• Points caps. Some Suncorp Bank Rewards card may have a limit on how many points you can earn each statement period or year. You can work out if this cap will affect you by considering your average monthly spending and the amount of points you would earn. For example, for Suncorp Bank Clear Options Platinum enrolled in Qantas Frequent Flyer, points are capped at $8,000 per statement period. If you typically spend more than this amount on credit each month you will be affected by the points cap.
• Gold and Platinum rewards membership. Suncorp Bank Gold and Platinum personal credit cards offer complimentary membership for the Rewards program.
• Rewards program fee. The Suncorp Clear Options Business Credit Card gives you the option of paying a fee to sign up for Suncorp Bank Rewards. Business credit card customers can pay $20 per year for Standard Rewards membership and $69 per year for the Premium Rewards Membership with Qantas Frequent Flyer. The rewards fee is charged for every business cardholder that is registered to earn rewards (including additional cardholders).
• Ineligible purchases. While most everyday purchases earn you points, there are a few types of transactions that are exempt from the Rewards program, including:

You can refer to the Suncorp Bank Rewards program Terms and Conditions booklet on the Suncorp Bank website for more information about requirements for earning and redeeming points.

How can I use my Suncorp Bank Rewards points?

The Suncorp Bank Rewards website includes a catalogue of all the ways you can redeem your points. You typically need to log in to your account to see what is available. But as a general guide, popular options include:

• Travel. You could redeem your points for flights, hotels, car hire and activities.
• Point transfers. If you have a Suncorp Platinum or Business account, you have the option of transferring points to your Velocity, KrisFlyer or Emirates Skywards frequent flyer account. You can also transfer your points to flybuys. The exchange rates may vary depending on your Suncorp Rewards account but, as a guide, the Suncorp Rewards website has listed the following exchange rates for people who are not logged in to their rewards account:
  • Velocity: 2 Suncorp Rewards points = 1 Velocity Point
  • KrisFlyer: 2.5 Suncorp Rewards points = 1 KrisFlyer Mile
  • Emirates Skywards: 3 Suncorp Rewards points = 1 Skywards Mile
  • flybuys: 1.33 Suncorp Rewards points = 1 flybuys point
• Gift cards. The Suncorp Bank Rewards program offers both digital and plastic gift cards for a variety of retailers, including Bunnings Warehouse, Coles, Dymocks, Flight Centre, JB Hi-Fi and Woolworths.
• Account credit. You can convert your points into a statement credit or use them to pay for your card’s annual fee.
• Technology. Tech items and gadgets include GPS systems, cameras, phones and computers, as well as a wide range of accessories.
• General merchandise. Reward options in this category include jewellery, sporting goods, cookware, beauty products and toys.

What if I don’t have enough points for my chosen reward?

If you haven’t got enough points to redeem the reward that you want, you may be able to use a combination of points and cash. This “points plus pay” option may not be available for all rewards, but is listed as an option for those that accept it. When it's available, you can use a combination of points and Australian dollars to redeem your reward. For the portion that you pay for in cash, you can choose to use any eligible credit card or debit card.

Key factors to consider before choosing a Suncorp Bank Rewards card

If you’re interested in getting a Suncorp Bank credit card to earn rewards, make sure you also consider the following factors.

• Annual fee. All the Suncorp Bank credit cards that offer rewards charge annual account fees between $45 p.a. and up to $129 p.a. Ideally, the value of the rewards you get should outweigh this yearly cost.
• Additional cardholders. You can boost your points balance by sharing your credit account with a partner or family member. Both the Suncorp Bank Clear Options Gold and Platinum cards offer up to four additional cardholders at no extra charge. The Suncorp Bank Clear Options Business offers up to 99 additional cardholders and charges an annual fee of $45 per cardholder.
• Interest rates. Interest charges will apply if you carry a balance on a Suncorp Rewards credit card. For example, say you had a $2,000 debt on the Suncorp Clear Options Platinum card, which has a standard variable purchase rate of 20.74% p.a. If you carried this balance for a month, you would pay around $34.50 in interest. If you only made minimum payments on this card, it would take 28 years and 7 months to clear this debt, at a total cost of $8,967. Make sure you consider these costs before choosing a credit card so that you can find one that is affordable for you.
• Cash advances. You won’t earn rewards if you use your credit card to get cash out, or for other cash advance transactions. You will also be charged a cash advance fee and the cash advance interest rate from the time a purchase is made, making it an expensive way to use your card.
• Complimentary extras. Suncorp Bank Rewards credit cards come with a variety of unique perks, ranging from a best-price guarantee service on the Clear Options Gold credit card to international travel insurance on the Clear Options Platinum card. The Business credit card also includes a range of features to make financial management easier.

The Suncorp Bank Rewards program is designed to offer you more benefits for paying with a Suncorp credit card, with competitive earn rates and flexible reward redemptions. Now that you know more about this program, you can compare it to other rewards credit cards to find an option that suits your needs.

Frequently asked questions

• Can I transfer my Suncorp reward points to Qantas frequent flyer points?

  No. Qantas is not a partner of the Suncorp credit card Rewards program. But if you have a Suncorp Clear Options Platinum credit card you can choose to opt in to Suncorp Qantas Frequent Flyer for an additional annual fee of $49. This option earns you 0.5 Qantas Points for every $1 spent, which will automatically be transferred to your frequent flyer account at the end of each statement period.

• Can I earn Qantas Points if I have a Suncorp Clear Options Gold credit card?

  No. The Suncorp Bank Qantas Frequent Flyer option is only available to Suncorp Clear Options Gold cardholders that enrolled before 31 October 2011. Alternatively, you could consider applying for a Suncorp Bank Clear Options Platinum or Business card and opting-in to Qantas rewards for a fee. You may also want to compare other Qantas frequent flyer credit cards to find an option that suits your needs.

• Where can I find my points balance for the Suncorp credit card Rewards program?

  You can check your points balance and account details by logging in at www.suncorpbankrewards.com.au. Once you’re signed in, go to “Home”, then “My Account”, and then select the “Points Balance” option.

  This will display details about your transactions for the current month, including when you earned points or if you redeemed them. It also has options for viewing transactions and balances for previous months.