Suncorp Clear Options Platinum Credit Card

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Suncorp Clear Options Platinum Credit Card

Balance transfer

9 months at 0% p.a.

Purchase rate

20.74% p.a. ongoing

Annual fee

$99.00 for 1st year

Highlights

  • 120,000 bonus Suncorp Credit Card Rewards Points for spending $3,000 on eligible transactions within the initial 90 days from approval.
  • 0% p.a. interest for 9 months on balance transfers. Reverts to cash advance rate thereafter.
  • Acquire 1.25 Suncorp Rewards Points per $1 spent on eligible transactions.
  • Platinum privileges encompassing concierge service and a variety of insurance covers.

Pros and cons

Pros

  • Receive 120,000 bonus Suncorp Credit Card Rewards Points when you meet the criteria.
  • Earn 1 Suncorp Rewards point per $1 spent (or 0.5 Qantas Point).
  • A reduced fee of $99 p.a. in the first year and $129 p.a. thereafter.
  • $6,000 to $100,000 credit limits.
  • Complimentary insurance, including international travel insurance.
  • Access to the concierge service.

Cons

  • There is a 3.4% international transaction fee if you transact overseas.
  • A $40 over-limit fee for exceeding the credit limit.
  • Longer interest-free balance transfers are available.
  • Suncorp Rewards points don't convert to airline points at 1:1.

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The basics

  • Additional cardholders. Add up to 4 additional cardholders for free, so you can share the account with family members. Note that any Suncorp Rewards points will accrue under the primary cardholder, meaning additional cardholders do not earn rewards for themselves.
  • Digital wallets. This card can be used with Apple Pay and Samsung Pay but not Google Pay.
  • Gambling transactions. All Suncorp credit cards prohibit gambling-related transactions.

Rewards and benefits

  • Complimentary travel insurance. The Suncorp Clear Options Platinum Credit Card comes with complimentary international travel insurance. To activate the cover, you must use your card to purchase travel expenses prior to departure. Eligibility criteria apply.
  • Concierge services. Suncorp Clear Options Platinum Credit Card holders get access to a 24/7 concierge service that can arrange bookings for restaurants and hotels, provide shopping advice, compare prices, offer travel recommendations, and more.
  • Insurances. This card comes with fraud protection, extended warranty protection, purchase protection insurance, price protection insurance, and transport accident insurance.
  • Rewards points. Earn 1.25 Suncorp Rewards points for every $1 spent domestically, with a maximum of 96,000 points per year. Alternatively, opt in to earn 0.5 Qantas Points per $1 spent. Suncorp Rewards points are redeemable for goods and services, but perhaps the most valuable redemption is to transfer them to one of their airline frequent flyer partners (Flybuys, Singapore Airlines KrisFlyer, and Velocity Frequent Flyer) and use them to book Business or First Class long-haul flights.
  • Sign up bonus. Suncorp offers a sign up bonus of 120,000 Suncorp Rewards points for new customers. To trigger the bonus, one must spend at least $3,000 on eligible transactions in the first 90 days from approval.

Rates and fees

  • Annual fee. The introductory annual fee for this card is $99 p.a. It reverts to an ongoing annual fee of $129 p.a., which is competitive for a rewards credit card.
  • Balance transfers. It's not uncommon for rewards cards to also offer a balance transfer deal, and the Suncorp Clear Options Platinum Credit Card is no different. Consolidate debt from other credit and store cards at 0% p.a. for up to 9 months with no balance transfer fee. After the 9-month period has passed, the cash advance rate of 21.99% p.a. is applicable. Longer interest-free balance transfers are available, but
  • Cash advances. Suncorp charges 21.99% p.a. on cash advances made with the Suncorp Clear Options Platinum Credit Card, with interest being applied from the transaction date. A separate fee of 3.5%, with a minimum fee of $3.50, will be charged for cash advances in Australia. Overseas cash advances have a 1.5% fee and foreign currency exchange fees.
  • Foreign exchange fee. Purchases made in a foreign currency either overseas or online will incur a 3.4% fee.
  • Interest-free period. Offers up to 55 days interest-free on purchases (except cash advances) when you pay the balance in full each month or make minimum required payments.
  • Purchases. There is no introductory offer on purchases. All purchases will be charged interest at 20.74% p.a. Although high, this ongoing rate is typical of a platinum-level card.

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