Suncorp offers reduced annual fee with exclusive credit card deal
Save on regular credit card costs with a 0% balance transfer for 18 months and reduced annual fee for the first year with the Suncorp Clear Options Platinum card.
The Suncorp Platinum card new exclusive offer gives cardholders plenty of ways to save on standard credit card costs. While a number of banks have reduced the length of their balance transfer offers in the last few weeks, new Suncorp customers can take up a 0% for 18 months balance transfer with the Suncorp Clear Options Platinum credit card.
Exclusive to applicants who apply and are approved through finder.com.au, you can cut costs even further in the first year with a reduced annual fee of $99 p.a. in the first year. This will revert to $169 p.a. thereafter, which is worth noting if you’re planning to use the card for the duration of the interest-free balance transfer offer.
Cardholders can look forward to the usual Suncorp Platinum card features too. This includes earning 1.25 Suncorp Bank Rewards per $1 spent, complimentary purchase and travel insurances and up to 55 interest-free days. However, these extras might be of more interest if you plan to use the card beyond paying off your debt. For example, interest-free days don’t apply to balance transfers and you shouldn’t be using your card for purchases when repaying existing debts.
The 0% balance transfer offer has come at a suitable time as well. In January, we reported that more than 3 million Aussies are currently feeling the financial sting of the festive sting. According finder.com.au’s analysis of recent data from the Reserve Bank of Australia (RBA), Aussies borrowed an estimated $28 billion on credit cards in December 2016 and spent $9.8 billion of this on Christmas gifts alone. This averages out to approximately $1,666 in required repayments and a combined interest debt of $397 million. With this in mind, there are plenty of Australians who could benefit from interest-free balance transfer repayments for 18 months.
The Suncorp Platinum card is just one of three balance transfer cards with 0% for 18 months offers compared on finder, so make sure to weigh up your options before applying to ensure it’s the right card for you. The Suncorp Platinum is one of the few balance transfer cards on the market that doesn’t charge a balance transfer fee, which is an advantage if you’re looking to cut costs. However, even with the reduced annual fee, it has one of the highest annual fees for a credit card with 0% for 18 months on balance transfers, so make sure the advantages of the card outweigh the costs before you apply.
If you’re considering moving your existing debts to a credit card with a 0% balance transfer offer, you can use our balance transfer guide to compare your options and find the right card for you. You can also compare other credit cards with no annual fee here.
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