I prefer balance transfers but this looks half decent:
0% p.a. on purchases for 15 months. Apply by 29 February 2020.
where else can you get 0% Interest on ""ANY"" Purchases for 15 Months
I guess that alright, but it is still just another credit card - you also only get 12 months fee free - so if you're not spending $10,000 you'll pay an annual fee - $89.
Still seems a lot like advertising and not a deal.
you also only get 12 months fee free
And if you buy a bargain bottle of scotch, posted here, you can only drink it once.
so if you're not spending $10,000 you'll pay an annual fee
And if you buy and don't open that scotch, not much of a bargain now, was it?
@chrism238: A poor analogy. A bottle of scotch doesn't come with a contract and fees (waived or otherwise). Nor does it reset into being a different bottle of scotch for you to pay for after 12 months (drunk or undrunk).
This might be a good deal for some people - but it still doesn't seem like a bargain.
Awesome deal if you have your financial-fu down to a black belt level and a great credit score! I'm tempted but that $4k minimum…
Max out the limit, put as many expenses as you can on it interest free for 15 months and hold the repayment amounts in a mortgage offset for the period. When your 15 months is up, pay the balance from your offset?
I understood and thought of all that before but my situation is a little different. The bank knows that I'll save and pay it off though so I won't get approved
Even the $0 annual fees and free travel insurance seems pretty good.
Sorry for the noob question. (Not a financial expert here.Trying to understand this)
Does this mean that if I purchase something worth $4000 now, I don't have to make repayments for 15 months ? No minimum monthly pay ? Also no annual fees as I have already spent $4000 ?
You will have to make the minimum payment each month, but on a $4k balance that’ll likely be under $100 per month.
Correct me if I'm wrong but it would be like so:
$4000 purchase made with 0 interest accruing even after 55 days (monthly minimum repayment still required)
No annual fee for the first 12 months and then after 12 months $89 p.a if the $10,000 minimum amount spent isn't met.
EDIT beaten by bates :)
Thanks guys.. So with this card we can payoff high value purchases in installments without any extra charge (provided I spend above $10,000) which is great…
Also the $4K is the minimum credit limit when applying. Can make it more if you meet income requirements etc.
And this is why Australia has huge credit debt jk
Actually because it's not about making a reasonable profit in Australia but screwing the consumer as hard as possible for every last cent
It's more the spend now and worry (or forget) about it later attitude. Many obviously get carried away. Many also use it as a permanent debt and never pay more than the minimum…
pretty good deal.
i can get a ducted system and payoff over 15mths interest free!
Better than 28 degrees card?
Well when I left 28 their online system is average and the reason for leaving was charging fees for simply paying the account… So on that basis…
Overseas purchases will be better on 28 though, but the exchange rate sucks anyway…
The fee is only for bpay though.
I know but that's the quick and easy way as opposed to waiting for them to debit.
Won't overseas purchases on 28 be exactly the same ?
This card offers "Pay no international transaction fees for purchases you make overseas or online"…
28 Degrees gives a much better exchange rate, pretty much spot on the XE website.
When I had both the difference was usually around 5% or more.
CBA did improve by removing the conversion fee, that was another factor (alongside bpay fees) that I decided to cancel 28.
Agree. Their system is below average in fact. Takes days to show transactions and also deposits paid into the account which is really frustrating. Cancelled the card finally.
in regards to the annual fee, $10,000 per month spending for the subsequent year and you dont pay annual fee?
Yeah, have had it for a few years. I just use it as my daily. Bills and all. Very easily done. Just spend $10k and the following year will be waived.
Got this for Mrs as a backup for overseas travel insurance for free. Been running for 5-6 months now. Do you need to ask for annual fee to waived or the system simply can give credit back automatically?
Mrs surely and easily spent more than 10k p.a ;)
It's done automatically
$10,000 per month spending ?? Isn't that yearly ?
Yeah, noticed, must be a mistake. It's yearly.
Can i use this to buy a car??
Regards
Yep, providing you buy from a dealer who is happy to take credit card payment.
I tried to apply but reached a step where it said:
Would you be interested in a Low Fee credit card instead?
Based on what you have told us the limit we can offer you is not enough for the card you'd chosen.
We may be able to offer you a Low Fee credit card with a maximum credit limit of up to $xxxx instead.
We may need to check some of your details first.
Would you like to choose your credit limit or take the maximum we can offer you?
Keep in mind, the limit may change the type of card you may get.
[Choose my limit] [Take the max limit]
So I closed the window.
Wondering if anyone got the same before? Did you have to take a credit hit on reaching this far?
Will I get reward points for my purchase?
no points AFAIK
I dunno, not sure this is a deal? Or a bargain? It might be a mildly interesting financial product to some but dunno if it belongs here?