CUA provides a low rate and a platinum credit card, and both come with special limited period balance transfer offers.
It offers its customers a range of financial products and services one would typically associate with a bank, and its offerings include two credit cards with MasterCard affiliations.
CUA Credit Card Offer
A low rate card with 0% p.a. interest rate on balance transfers for 13 months, interest-free days on purchases and a waived annual fee for the first year.
- $0 p.a. annual fee for the first year ($49 p.a. thereafter) annual fee
- 11.99% p.a. on purchases
- 0% p.a. for 13 months on balance transfers
- Cash Advance Rate of 21.74% p.a.
- Up to 55 days interest free
Comparison of CUA Credit Cards
Types of credit cards from CUA
CUA gives its customers the ability to choose between two MasterCard alternatives, both of which offer easy access to funds just about anywhere in the world. Which one you should go for depends on your individual requirements and here’s what you can expect from each:
Low rate credit cards
A typical low rate card is one that charges a low interest rate on purchases and comes with minimal features. The CUA Low Rate Credit Card charges 11.99% p.a. on purchases, which makes it a low rate card. By applying, you can make use of a 0% p.a. balance transfer rate that stays in place for the first 13 months, and you also get the annual fee waiver in the first year.
Platinum credit card
Platinum credit cards offer extras like rewards and complimentary insurance covers, and you can expect both from the CUA Platinum Credit Card. This card comes linked to the CUA Life Rich Rewards program, enabling you to earn and redeem reward points as per your spending. Cardholders get complimentary travel and purchase insurance covers, and they also get round-the-clock access to a global concierge service. This card comes with an introductory 0% p.a. balance transfer rate for the first 13 months.
The benefits of banking with CUA
Banking with CUA brings with it various benefits, and here’s some of the perks you can look forward to:
CUA customers can access their accounts through the entire rediATM network, which comprises of more than 3,000 ATMs across Australia.
Online and mobile banking
If you wish to access any kind of account related information, you can do so at any time, from anywhere, using CUA’s online banking platform or its mobile banking app.
Life rich banking
CUA ensures that its profits go back to its customers in the form of lower fees and better rates, and it refers to this experience of providing its customers that extra financial breathing space as ‘life rich banking’. CUA also gives you the ability to bundle products like credit cards and home loans, so you can save more in the form of fees.
Features of a CUA credit card
Getting a credit card through CUA could be a valuable experience, but it’s important that you pay attention to the following aspects at the onset:
- Annual fees. The CUA Platinum Credit Card attracts an annual fee of $149, which is waived in the first year. The CUA Low Rate Credit Card charges an annual fee of $49, which is waived in the first year.
- Additional cards. Cardholders of, both, low rate and platinum cards, can request up to 9 additional cards, and additional cards linked to platinum cards earn reward points. Keep in mind that you remain liable for all purchases made using additional cards linked to your primary card.
- Interest-free days. Both CUA credit cards offer up to 55 interest-free days on purchases, but to enjoy these interest-free days you have to pay your account’s outstanding balance in full every month.
How to apply for a CUA credit card
You can apply for a CUA credit card online, and to do so now, simply fill out your details on the secure online application form. Before you apply, establish if you meet the following.
- You’re at least 18 years old
- You’re a permanent resident of Australia
- Other criteria will also apply
- Your complete name, date of birth, marital status, number of dependents, and mother’s maiden name
- Your residential address, time spent there, residential status, phone number, and email address
- Your employment status, employer’s name and contact details, and time spent with current employer
- Details about your income and expenses
Getting a credit card through CUA can be a good idea, given that it can help keep your interest charges and fees to a minimum. The potential benefits that come with the card are also increased when you consider that you can choose a card as per your needs. Remember, though, that there are other similar offerings out there, so you’ll need to compare a few before applying.
Frequently asked questions
What does the application process involve?
You start by submitting an online application, and once you do you can expect a response from CUA rather soon. If CUA approves your application you might have to verify your identify. After CUA verifies your identity, it dispatches your credit card and PIN.
Are there any limitations on balance transfers?
To take advantage of the special balance transfer rate you have to inform CUA of your intention to transfer balances when you apply, and you cannot transfer more than 80% of your new card’s credit limit. You cannot use your new card to transfer balances from existing CUA credit cards.
What information do I have to provide to move forward with a balance transfer?
You have to provide the name of the card issuer, your account number, and the amount you wish to transfer.
Can I use my CUA credit card for cash advances?
Yes, you can. Cash advances attract a higher than usual interest rate, they don’t accrue any interest-free days, and you might have to pay additional cash advance fees.