CUA Platinum MasterCard
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Be spoilt with the latest offering in the platinum credit card range, the CUA Platinum MasterCard. Get in quick to take advantage of the 0% p.a. for 9 months on balance transfer rate and 50% off the annual fee.
CUA Platinum MasterCard Features:
- $89 p.a. annual fee for the first year ($179 p.a. thereafter) annual fee.
- 55 days interest free on purchases made with your card.
- 0% p.a. for 9 months on balance transfer
- Order up to 4 additional cards free of charge.
- Up to $60,000 maximum credit limit
| Product Name | CUA Platinum MasterCard | |
|---|---|---|
| Balance Transfer Rate | 0% p.a. for 9 months | |
| Interest Rate on Purchases | 20.24% p.a. | |
| Offer end date | 30 June 2013 | |
| Annual Fee | $89 p.a. annual fee for the first year ($179 p.a. thereafter) | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.74% p.a. | |
| Max Credit Limit | $60,000 | |
| Minimum Monthly Repayment | 2% | |
| Credit Card Type | MasterCard | |
| Late Payment Fee | $10 | |
| Complimentary Travel Insurance | No | |
| Available to Temporary Residents | No | |
| Joint Application | No |
CUA Platinum MasterCard Benefits:
The CUA Platinum Credit Card is packed full of the benefits that one comes to expect from a Platinum Card service including an extensive range of insurance options. Fancy going overseas? As a Platinum member peace of mind is assured for you and your family with complimentary international travel insurance.
Perhaps Australia’s vast backyard is more your cup of tea. The CUA Platinum MasterCard has got you covered with complimentary Interstate Flight Inconvenience Insurance. Add this to complimentary Transit Accident Insurance and where ever you are in the world from the airport terminal to the great unknown, you know you’re covered for the worst. And as a Platinum card holder you will also be entitled to the MasterCard 24/7 concierge, available at the push of a button from anywhere you are able to make a phone call.
Another great benefit of the CUA Platinum MasterCard is the Guaranteed Pricing Scheme. Through the scheme you are entitled to a refund of the difference in price if you buy an item and it later goes on sale for less.
Rewards: Citigroup’s Card Services Direct
1.25 rewards points for every dollar spent on your card (excluding balance transfers, cash advances and special promotions).
CUA and MasterCard offer a versatile range of ways you can redeem your reward points. Choose from cash rebates to reduce the outstanding balance of your card, flights on any airline, hotel, hire cars, trains or cruises, shopping vouchers and electronics equipment there’s a multitude of useful ways to redeem your points.
Pros
- Let’s face it, not all of us like to fly and sometime the 30,000 point pepper grinder courtesy of the rewards store can be a little boring. CUA offers versatility to those looking to get more out of their credit rewards scheme. The cash back offer is a plus, meaning you are able to pay your card off as you spend and earn points.
- 1.25:1 rewards to dollars ratio is a good deal considering that all everyday purchases will earn you points.
- The promotional offer of a 0% p.a. for 9 months on balance transfer for applications approved before December 31 gives you a little more room to breath.
Cons
- Points are capped at 60,000 for the year. This will deter business customers looking to really take advantage of their credit card spending.
Application criteria for CUA Platinum MasterCard
To apply for this card you must meet the following criteria:
- You are at least 18 years of age
- You have a good credit rating
- You earn more than $35,000 per year.
- You are a permanent resident of Australia.
Read the CUA Platinum MasterCard terms and conditions.
| Minimum Income | $35,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Max Credit Limit | $60,000 |
| Annual Fee | $89 p.a. annual fee for the first year ($179 p.a. thereafter) | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $10 | |
| Over Limit Fee | $40 | |
| Overseas ATM Balance check | $5 | |
| Overseas ATM Withdrawal | $5 | |
| Foreign Currency Conversion Fee | 3.4% | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 | |
| Number of Additional Cardholders | 4 |
Pros
- 0% p.a on balance transfers for the first 9 months (after 9 months the standard CUA interest rate of 21.74% will apply).
- A great array of complementary insurance such as International Travel Insurance, Purchase Cover Insurance, Guaranteed Pricing Scheme (this lets you receive a discount on items that go on sale after you buy them! Sweet deal!), Interstate Flight Inconvenience Insurance and Transit Accident Insurance
Cons
- A high interest rate on purchases 20.24% and a very high cash advance rate of 21.74%.
- A high annual fee of $179 ($89 for first year). In other words, unless you're planning on milking this card for everything it's got there are better cards on the market.
Read the CUA Platinum MasterCard terms and conditions.
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Hi,do I have to do a balance transfer upon taking/applying for the CUA credit card? Also, can I do another balance transfer at a later date to this same CUA credit card?
Hi Michael. Thanks for your question and apologies for the delayed response. You do not have to carry out a balance transfer to apply for a credit card. To be eligible for the balance transfer promotional rate of interest, the balance transfer request must be made at the time of application. Jacob.
Hello, if I transfer the current balance of my current credit card to a CUA Platinum MasterCard will my current credit card be cancelled?
thanks
Kathy
Hi Kathy. Thanks for your question. If you transfer the balance of your card to another card, you will be responsible for closing the old account and changing any direct debit agreements to your new card. Cheers.
Is that mean if i apply for CUA Platinum Mastercard and is approved by 30/7/2012, I will enjoy 0% balance transfer for 9 months?
Will the balance transfer only take place after I activated my card?
Hi Cowper. That is correct. Thanks for your question.
the 1.25 award points for every $1 dollar spent can that be transferred to Qantas frequent flyer programme ?
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.
If i choose to close my card with you what fee’s will i insure?
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.
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
Hi PIlar. Thanks for your question. Balances cannot be taken from a credit card to a personal loan, it must be from a personal loan, line of credit, store card or credit card to another credit card. Although having said that, the Citibank Ready Credit Account works like a line of credit and allows for balances to be transferred from credit cards, line of credit, personal loans and store cards. Alternatively there are debt consolidation loans that may be more what you’re looking for. Cheers.
What is the bank which provides you the money? CitiBank? I am asking because I have already got a Citi Ready credit account.
Hi Aurel. Citibank are the credit providers to CUA, so you are unable to carry out a balance transfer between these two institutions. For more information on the subject of credit underwriting, check out our post on Balance Transfer Criteria. Thanks for your question.
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
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.