- Last updated on 02 Apr 2020
Balance Transfer Rate
Max Free Days
- Free supplementary cards
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
Balance Transfer Fee
Foreign Exchange Fee
3.4% on Visa
Estimated ATM Cost
for AU $300 withdrawal
Australia Citizen, Permanent Resident
- FREE SUPPLEMENTARY CARDS
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Suncorp is one of Australia’s largest banks. Based in Brisbane, it started as the Queensland State Accident Insurance Office in 1916, but since then has expanded rapidly, with several mergers and acquisitions.
Today, Suncorp offers a host of financial services including personal and business banking, insurance, wealth management and superannuation.
Across Australia and New Zealand, the Suncorp Group has about 13,500 employees, 9 million customers and is a top 20 ASX-listed company with $96 billion in assets.
The Suncorp Bank Standard credit card is Suncorp’s low-rate card offering. This card has a moderately low annual fee and moderately low interest rates, but has no interest-free days. The card offers a moderately high credit limit depending on the applicant. This card does not have an associated rewards scheme.
While the card does not earn points or frequent flyer miles, card holders gain access to Visa Entertainment, which offers access to exclusive pre-sales. The card also comes with Visa payWave for faster purchases and 24/7 customer service.
The Suncorp Bank Standard credit card provides security and fraud protection for every card holder. Verified by Visa adds security and authorisation for online purchases, while FRAUDSHIELD detects fraudulent card activity. Card holders also have peace of mind with Visa Zero Liability, and lost cards can be replaced within 24 hours in Australia.
- 0% balance transfer offer
- Moderately low interest rates
- Four free additional card holders
- No interest-free period
- Charges foreign transaction fees
- Charges an annual fee
Who is it good for?
The Suncorp Bank Standard card is best for potential card holders looking for low rates and a balance transfer offer. The card has moderately low interest rates, making it attractive for those who struggle to pay their bill in full each month. However, the card does not offer any interest-free days.
The Suncorp Bank Standard delivers 12 months with 0 per cent interest on balance transfers, which may make this card a good fit for customers with existing credit card debt.
This card is not well suited to potential customers in search of credit card rewards. The card does not have an associated reward scheme and does not earn points or miles on purchases. Card holders who wish to earn rewards should consider a card with a points-earning program that can deliver frequent flyer, cash back or merchandise benefits.
What RateCity says
The Suncorp Bank Standard credit card may be beneficial for those with existing credit card debt, but offers few incentives for other customers. Even those with debt they wish to transfer may find that the card does not deliver sufficient benefits after the introductory deal has expired.
This card does not offer points or frequent flyer miles for purchases, which may deter rewards-seeking card holders. For potential customers who want rewards, it’s probably best to consider your rewards preferences and find a card that will suit your needs.
While the Suncorp Bank Standard card is a low-rate credit card, it still charges an annual fee and does not offer an interest-free period. Budget card holders may find it more sensible to find a credit card that charges no annual fee and offers at least a moderate number of interest-free days.
To be eligible for the Suncorp Bank Standard credit card, you must be at least 18 years old and have a good credit rating. You also need to earn a minimum yearly income of $25,000 or more. While completing the secure online application, you’ll need to provide contact details, employment details, and financial information such as monthly expenses. Customers can save their application and complete it at a later date.
Suncorp is an Australian financial services provider. Headquartered in Brisbane, Suncorp provides a range of banking products and financial services to individuals and businesses. Their offering includes bank accounts, loans, investments and superannuation. Customers can also find a range of insurance policies such as home and contents, car, motorcycle, life and health insurance. Suncorp Group is an ASX-listed company, one of Australia’s leading banks and one of Australia’s largest general insurers.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
You can get money from a credit card, but generally it will cost you.
Withdrawing money from a credit card is called a cash advance, as it operates more as a loan than a simple cash withdrawal. Because it is a loan, you may be charged interest on your cash advance as soon as you make the withdrawal. Interest rates are also usually much higher for cash advances than standard credit card purchases.
In addition to the interest rate, you may also be charged a cash advance fee. This could be a flat rate, or a percentage of your total cash advance. If you are considering a cash advance, make sure to add up how much it will cost you before committing.
A credit card is a payment method which lets you pay for goods and services without using your own money. It’s essentially a short-term loan which lets you borrow the bank’s money to pay for things which you can pay back – potentially with interest – at a later date. Credit cards can also be used to withdraw money from an ATM, which is known as a cash advance. Because you’re borrowing money from a bank, credit cards charge you interest on the money you use (unless you repay the entire debt during the interest-free period). When you apply for a credit card, the bank gives you a credit limit which sets the maximum amount you can borrow using your card. Credit cards are one of the most popular methods of payments and can be a convenient way of paying for goods and services in store, online and all around the globe.
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers. Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14.
The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid.
Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.