CUA Platinum Credit Card – Rates and Fees

Information verified correct on October 1st, 2016

Get 0% p.a. interest on balance transfers for 13 months, an annual fee waiver and earn rewards for new purchases with the CUA Platinum Credit Card.

The CUA Platinum Credit Card features both a competitive balance transfer offer and a rewards program. It also comes with a range of complimentary extras, including international travel insurance and a personal concierge service. Find out more about this platinum credit card and compare your options so you can apply for a great credit card that’s right for you.

Product NameCUA Platinum Credit Card
Rewards ProgramCUA Life Rich Rewards Program
Balance transfer rate (p.a.)0% p.a. for 13 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)19.99% p.a.
Annual fee$0 p.a. annual fee for the first year ($149 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$5,000
Minimum Monthly Repayment3% or $35, whichever is higher
Card TypeMasterCard
Late Payment Fee$12.50
Foreign Currency Conversion Fee (MC)3.4% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover4 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$5,000
Annual Fee$0 p.a. annual fee for the first year ($149 p.a. thereafter)
Minimum Repayment3% or $35, whichever is higher
Late Payment Fee$12.50
Over Limit Fee$15
Cash Advance Fee2.00% of the cash advance amount, with minimum of $3.50
Overseas Emergency Replacement$30
Overseas ATM Balance check$5
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (MC)3.4% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders9
BPAYYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

Pros

  • Enjoy $0 annual fee for the first year.
  • This card has 0% p.a. on balance transfers for the first 13 months (reverts to the standard CUA interest rate of 21.74% p.a. thereafter).
  • This card comes with a wide range of complementary insurance such as international travel insurance, purchase cover insurance and transit accident insurance.

Cons

  • There is a high interest rate of 19.99% p.a. on purchases and a high cash advance rate of 21.74% that comes with this card.
  • This card has a high revert annual fee of $149.
Rewards ProgramCUA Life Rich Rewards Program
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap100,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

CUA Platinum Credit Card review

CUA has designed its Platinum Credit Card as a premium option that provides value for a range of different credit card goals. If you want to pay down an existing card debt, the current 0% p.a. balance transfer offer gives you a chance to save on interest charges for the first 13 months you have the card. The rewards program, on the other hand, gives you 1 point per $1 spent on new purchases through the CUA Life Rich Rewards program. As well as these features, the CUA Platinum Credit Card comes with a range of premium complimentary extras, including international travel insurance, transit accident insurance, purchase protection insurance and a personal concierge service. It also has an ongoing purchase rate of 19.99% p.a. variable and an annual fee waiver for the first year ($149 p.a. thereafter).

Benefits of the CUA Platinum Credit Card

  • Balance transfer offer. Transfer a debt from your existing card to the CUA Platinum Credit Card and get a 0% p.a. interest rate on the balance for 13 months. At the end of the balance transfer introductory period, the promotional rate will revert to the standard cash advance and balance transfer rate, currently 21.74% p.a. variable.
  • No annual fee. The CUA Platinum Credit Card attracts an annual fee of $0 for the first year, $149 p.a. thereafter. In comparison, other platinum credit cards have annual fees ranging from $0 to $349.
  • Rewards program. This card earns you 1 rewards point per dollar spent which can be redeemed for gift cards, technology, travel and the wide range of other options available through CUA Life Rich Rewards program.
  • Complimentary insurance. The CUA Platinum Credit Card comes with complimentary overseas travel insurance, purchase protection insurance and transit accident insurance.
  • Personal concierge. This platinum credit card gives you access to a personal concierge service 24/7, wherever you are in the world, to help you with everything from finding a great gift to booking a restaurant for dinner.

Features of the CUA Platinum Credit Card

  • Interest rates. The CUA Platinum Credit Card has a standard purchase rate of 19.99% p.a. and a cash advance rate of 21.74% p.a. (variable).
  • Late payment fee. If you don’t make a payment by the due date listed on your credit card statement, a $12.50 fee will apply.
  • Currency conversion fee. Purchases made in a foreign currency when you are overseas or shopping online attract a charge worth 3.4% of the total transaction.
  • Credit limit. The CUA Platinum Credit Card offers a minimum credit limit of $5,000, but doesn’t list a maximum credit limit. The credit limit you get depends on your individual financial circumstances and eligibility for the card.
  • Points cap. The amount of reward points you can earn is limited to 100,000 per year. At a rate of 1 point per $1, you would have to spend $100,000 per year to reach this cap.
  • Interest-free days. This card gives you up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement.
  • Additional cards. The CUA Platinum Credit Card lets you add up to 9 supplementary cardholders at no extra cost. This feature means you can share your account with a partner or family member for convenience or to boost your rewards. Just remember that as the primary cardholder you will still be responsible for keeping the account in good standing at all times.

How to apply for the CUA Platinum Credit Card

You can apply for the CUA Platinum Credit Card online in about 15 minutes. Start by checking that you meet the application criteria for this card.

Eligibility requirements

  • Age. You must be at least 18 years old.
  • Residency status. You must be a permanent resident of Australia.
  • Others. Check out for other criteria that will also apply.

Required documents

If you meet these requirements, you can start your application using the following steps.

  1. Compare cards. Look at a range of credit cards based on your individual goals to make sure that the CUA Platinum Credit Card is right for you.
  2. Apply. Hit the “Go to site” button to go to a secure application page.
  3. Fill in the application. You will need to provide personal details including your full name, residential address, contact number and email address. You will also have to provide details of your income. CUA will be in contact to complete the application.
  4. Include details of your balance transfer. If you want to take advantage of the introductory 0% balance transfer interest rate, you will need to include details of the current credit card debt you wish to transfer, including the account name and number, and the financial institution’s BSB.
  5. Provide supporting documentation. During the application process, you may be asked to submit a range of documents to verify your details, including a copy of your driver’s licence or passport, recent payslips and your employment contract. Keep these documents handy and provide them when they are requested.

You will get an update on your status as soon as you have completed the application process. If you get approval, CUA will be in contact to finalise the details of the account and issue your card. Generally it takes 5–10 working days for a new credit card to arrive in the mail, but it could be as long as 21 days in some cases. When it arrives, sign the back of the card and follow the steps outlined by CUA to activate it. You can then start using it for purchases, and any balance transfers you’ve requested can be processed. Whether you want to pay down credit card debt or earn rewards for your spending, the CUA Platinum Credit Card has competitive features worth considering. By comparing this card to a range of other balance transfer or reward options, you can make sure you apply for the right card for your needs.

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25 Responses to CUA Platinum Credit Card – Rates and Fees

  1. Default Gravatar
    E.M | July 7, 2016

    What is the minimum required income to be accepted for a $5,000 credit card?

    • Staff
      May | July 7, 2016

      Hi E.M,

      Thanks for your question.

      Just to confirm, the minimum credit limit that you can request or will be approved for CUA Platinum Credit Card is $6,000. As for the exact figure for the income requirement, that will be determined by CUA. You may contact them directly to verify.

      Please find CUA’s contact details I’ve sent to your email.

      I hope this has helped.

      Cheers,
      May

  2. Default Gravatar
    max | November 27, 2015

    Hi,
    Does this card provide car hire insurance?

    • Staff
      Arra | November 27, 2015

      Hi max,

      Thanks for your inquiry.

      Unfortunately, the CUA Platinum MasterCard does not include car hire insurance.

      If you like to compare credit cards with car hire insurance cover, please refer to this page.

      I hope this has helped.

      Cheers,
      Arra

  3. Default Gravatar
    Debbi | April 16, 2015

    Do you earn frequent flyer points with this card and how do they work?

    • Staff
      Jonathan | April 16, 2015

      Hi Debbi, thanks for your inquiry!

      Unfortunately this credit card does not earn frequent flyers points. Please refer to the following link for a list of frequent flyer cards and offers.

      Cheers,

      Jonathan

  4. Default Gravatar
    Clare | October 15, 2014

    Is there an age limit with the complimentary travel insurance offered with the Platinum MasterCard?

    • Staff
      Elizabeth | October 15, 2014

      Hi Clare,

      Thanks for your question.

      There was no age limit expressed in the credit card insurance terms and conditions, but it might be a good idea to get in contact with CUA to confirm your eligibility before you travel.

      I hope this has helped.

      Thanks,

      Elizabeth

  5. Default Gravatar
    H.Towers | February 16, 2014

    I was told that my frequent flyer points were transferred directly to Qantas with my gold card. I have been upgraded without request to platinum and want to know how my monthly spend gets converted, because there is not one transfer to my frequent flyer account in recent history and no explanation except to rave about upgrading me and my husband and “you don’t have to do anything”. So do we now get a better points loading and where have the points gone and for how long have they not accrued, because Qantas has not really been able to help. Basically when was the last time points were transferred and what is happening today? Very frustrated and not at all confident. Do I need to get Choice on board to investigate this?

    • Staff
      Jacob | February 17, 2014

      Hi, H.

      Thanks for getting in touch with us.

      Your details should have been updated when they gave you the Platinum credit card. This includes the transferring of your frequent flyer membership to your new account. Double check with the issuer that your frequent flyer membership is still linked to your credit card account. If this is not the case, and you’re still having difficulties with the provider, I suggest you vote with your feet and switch credit card issuer. You can compare leading credit cards on this page.

      I hope this helps.

  6. Default Gravatar
    Rhonda | June 28, 2013

    Can you transfer points to different frequent flyer programs?

    • Staff
      Jacob | July 1, 2013

      Hi Rhonda. Thanks for your question. You can transfer your CUA Rewards points to the Qantas Frequent Flyer program. You will need to be a member of the program before you can do this though. I hope this has helped. Jacob.

  7. Default Gravatar
    michael | October 6, 2012

    can you tell me 1. do I need to make any monthly repayment over the period of 9 months ( interest free )or can I pay the outstanding balance at expiry of 9 months 2 can I transfer more than one cards balance 3 is there any reason why I cant keep the previous cards ?

    Thanks

    • Staff
      Jacob | October 9, 2012

      Hi Michael. Thanks for your questions. To answer: There is no reason why you have to close your old credit card after carrying out a balance transfer, you have the option of keeping it open. You are able to consolidate the debt from multiple credit cards, all you have to remember is that you can transfer the balances from multiple cards to a new card, provided that the amount you wish to bring over is less than your approved credit limit. In terms of the nine months interest free, you must make the minimum monthly repayment of 2% each month – while no interest will be charged on the balance you performed a balance transfer on, until the end of the balance transfer period. Cheers.

  8. Default Gravatar
    Pilar | September 28, 2012

    Hi
    Does the CUA Platinum MasterCard allow me to do a balance transfer toa personal loan from another bank (not a credit card)?
    Regards,
    Pilar

  9. Default Gravatar
    Mia | September 10, 2012

    If i choose to close my card with you what fee’s will i insure?

    • Staff
      Jacob | September 10, 2012

      Hi Mia. Provided that you card has been paid in full and there are no charges owning against your name you will be able to close the account without inuring and fees or charges. Thanks for your question.

  10. Default Gravatar
    ashley | September 8, 2012

    the 1.25 award points for every $1 dollar spent can that be transferred to Qantas frequent flyer programme ?

    • Staff
      Jacob | September 10, 2012

      Hi Ashley. Thanks for your question. You are unable to transfer rewards points from the CUA Platinum MasterCard to the Qantas Frequent Flyer Program. Points can be redeemed through the Card Services Direct Website. Cheers.

Credit Cards Comparison

Rates last updated October 1st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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