The Heritage Bank Platinum gives you a way to pay off existing credit card debt with a 0% p.a. interest rate on balance transfers for 12 months. It has a $125 annual fee that will be waived if you spend at least $35,000 in a year and also offers a concierge service, complimentary travel insurance and access to the Heritage Credits rewards program.
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Heritage Bank Platinum Credit Card
Terms and conditions apply
- Balance transfer rate for 12 months with no balance transfer fee
- 0% p.a.
- Purchase rate
- 17.99% p.a.
- Reward points per $ spent
- 0
- Annual fee
- $125 p.a.
Our verdict
Pay off debt with 0% p.a. interest on balance transfers for the first 12 months and enjoy 6 complimentary insurance covers with this Platinum card.
Like most platinum products, the Heritage Bank Platinum Visa card offers perks like rewards, concierge services and complimentary insurances to add extra value. If you’re switching from another card, it’s balance transfer offer gives you a way to pay off debt interest-free for 12 months. Plus, it doesn’t have a balance transfer fee.
It also charges a competitive interest rate compared to most platinum credit cards, but you should still aim to pay your balance in full each month. That way you can avoid interest and take advantage of interest-free days on future purchases. On top of that, you can reward your spending with Heritage Credits, but you should take note of how much you’ll have to spend to redeem rewards.
Pros
-
Enjoy 0% p.a. on balance transfers for the first 12 months
-
Receive complimentary insurance covers, including guaranteed pricing scheme, overseas travel insurance and purchase cover insurance.
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Get access to a concierge service, Visa Offers and Perks, and rewards program.
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Earn 3 Heritage Credits for every $1,500 spent per calendar month.
Cons
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Balance transfer reverts to a relatively high 19.99% p.a.. cash advance rate
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Heritage Credits are only awarded when the $1,500 spend requirement is met.
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Charges a $125 annual fee unless you spend over $35,000 in a year
Details
Product details
| Product Name | Heritage Bank Platinum Credit Card |
| Balance transfer rate p.a. | 0% for 12 months, then 19.99% |
| Balance transfer limit | 95% of available limit |
| Purchase rate p.a. | 17.99% |
| Interest-free period | Up to 55 days on purchases |
| Cash advance rate p.a. | 19.99% |
| Min credit limit | $6,000 |
| Card type | Visa |
Eligibility
| Available to temporary residents | No |
| Joint application | No |
Rewards
| Rewards program | Heritage Credit Rewards |
| Bonus points | N/A |
Fees
| Annual fee | $125 |
| Minimum monthly repayment | 3% of the closing balance or $30, whichever is greater |
| Late payment fee | $20 |
| Foreign currency conversion fee | 3% |
| Cash advance fee | 2% or $2.50, whichever is greater |
| Additional cardholder fee | $7.50 |
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