GE Money Go MasterCard – Rates & Fees

Posted May 1st, 2010 and last modified September 25th, 2014
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Rates last updated September 30th, 2014

A card that offers interest free days, a rewards program and insurance all in one

If you’re looking for a credit card that has extended interest free days linked with a rewards program that you can use everyday, then you may want to consider the GE Money Go Mastercard.

Product NameGE Money 'Go' MasterCard
Rewards ProgramGO Rewards Program
Interest Rate on Purchases21.74% p.a.
Annual Fee$0 p.a.
Interest Free Period
on Purchases
The Interest free period on purchases is the period or number of days you don't have to pay interest on your card purchases. This would usually start from the first day of your credit card statement and not when the purchase is made.
up to 62 days
Interest Rate on Cash Advances29.49% p.a.
Minimum 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.
$600
Maximum Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$25,000
Minimum Monthly Repayment3%
Card TypeMasterCard
Late Payment Fee$25
Foreign Currency Conversion Fee (MC)3% of transaction value
Complimentary Travel InsuranceNo
Available to Temporary ResidentsNo
Joint ApplicationYes

GE Money Go MasterCard Review:

Rewards on your everyday purchases

When you make an eligible purchase – everything except promotional purchases, cash advances, cash equivalent transactions, balance transfers, Buyers Protection Premiums or interest, fees and charges – you’ll earn one Go Rewards Points for every dollar you spend on the card up to points a year.

Buyer’s protection insurance

If you wish to protect yourself against the unexpected – say if you become seriously ill – buyer’s protection insurance may be worth considering. For a charge of 0.8% of your monthly closing balance – up to a maximum of $50 per month – your credit card balance is covered up to a maximum of $20,000. There are exclusions that apply, so it’s definitely worth having a look at the Product Disclosure Statement prior to making a decision as to whether this insurance is right for you.

Other insurance policies offered with this card include:

  • Price protection;
  • Merchandise Protection;
  • Stolen Card Protection;
  • Repayment Cover.

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Features of the GE Money Go MasterCard

  • The cash advance rate of interest is 29.49% p.a.
  • This account also charge a monthly account keeping fee. If you have an outstanding balance (interest free promotions included) that is greater than $10, you’ll be charged a fee every month.
  • There is also a one off establishment fee charged to the account when the card is activated.

Other standard fees and charges like international transaction fees and cash advance fees apply as well. Consult the fees table at the bottom of the review for further information about the fees and charges that apply to this account.

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Extended interest free promotions at retailers

The major benefit of this card comes from the extended interest free promotions at select Australian retailers. There’s more than a handful of places where you can get a deal, but it varies depending on the state you live in. There are some online retailers too.

  1. There are a couple of things you should know about the interest free promotions. Firstly, you can choose your repayment method: you can either pay back the minimum monthly repayment each month, you can opt to pay nothing during the interest free term and pay back the entire balance at the end of the promotional period (Buy Now, Pay Later), or you can choose to back to pay back the balance in equal monthly installments so the balance of the interest free promotion is paid in full by the end of the promotional period.
  2. Second: you can carry multiple interest free promotional balances on your account at the one time provided that the total value of all the promotional balances in less than your credit limit.
  3. Third: if you don’t pay off your interest free balance by the end of the promotional period, any unpaid amount will be charged at the cash rate of interest, currently. Keep in mind that you can’t choose which interest free promotional balance is paid off first, repayments will be applied to balances in the order they’re changed to your account.

To make a purchase under the interest free promotional balance, you will need to present your driver’s licence as well as your GO MasterCard.

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Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating RequirementGood
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.
$600
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$25,000
Annual Fee$0 p.a.
Minimum Repayment3%
Late Payment Fee$25
Over Limit Fee$5
Cash Advance FeeGreater of 3% or $3.00
Overseas Cash Advance Fee$4.00 in addition to Cash advance fee
Overseas Emergency Replacement$0
Overseas ATM Balance check$4
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (MC)3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingNo
Internet Banking TransfersNo
In BranchNo
MailYes
Rewards ProgramGO Rewards Program
Rewards Points per $ (VISA/MC)1.00
Rewards Points per $ (VISA/MC) Cap100,000
Rewards Points per $ (AMEX) CapN/A
Points Expiry36 months
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* 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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