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Our verdict

Offers reward points on your credit card spending and complimentary insurance on purchases, with a $129 annual fee.

The Suncorp Clear Options Gold Credit Card is suited to people who want modest rewards and perks through their card. It earns 1 Suncorp Credit Card Reward Point per $1 on eligible spending for the first $1,500 in each statement period, then 0.5 points per $1 for the rest of that statement period. This spending threshold is relatively low compared to some other rewards credit cards, so consider your average monthly spending to decide if it will limit the amount of points you earn.

The Suncorp Clear Options Gold Credit Card also offers complimentary purchase protection insurance and extended warranty insurance for eligible items you buy with it. While its $129 is competitive for a rewards card, it's important to make sure you'll get enough value from the points and other features to justify this cost.

Pros

Earn rewards points for your spending
Up to 55 days interest-free on purchases
Complimentary insurance covers including purchase protection insurance and extended warranty insurance

Cons

High purchase interest rate of 20.74% p.a.
3.4% foreign transaction fee

The Suncorp Clear Options Gold Credit Card earns points that you can redeem for rewards including gift cards, statement credits, retail items and point transfers to Velocity Frequent Flyer. It offers up to 55 interest-free days on purchases if you pay your total balance by the due date on each statement. But otherwise, the 20.74% p.a. purchase rate is at the higher end of the scale. As it's one of only a handful of gold credit cards on the market in Australia, you could also compare it to other rewards cards or platinum credit cards to help decide if it's right for you.

Details

Product details

Product Name	Suncorp Clear Options Gold Credit Card
Purchase rate p.a.	20.74%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$5,000
Max credit limit	$25,000
Card type	Visa

Eligibility

Available to temporary residents	No
Minimum income	$30,000
Joint application	No

Rewards

Rewards program	Suncorp Bank Rewards Program
Bonus points	N/A
Rewards points per $ spent	1

Fees

Annual fee	$129
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.4%
Cash advance fee	3.5% or $3.50, whichever is greater
Overseas cash advance fee	1.5%
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

You can apply for the Suncorp Clear Options Gold Credit Card online by completing a secure application form on the Suncorp Bank website. Get started by making sure you meet the eligibility criteria and you have the details and documents required for the application.

Eligibility criteria

Income. You must have a minimum yearly income of $30,000.
Residency. You can apply for this card if you're an Australian permanent resident.

Age. You must be at least 18 years of age to apply.
Credit history. You'll need a good credit score to apply for this card. If you don't know your credit score yet, you can get your score and credit report for free.

Required documents

Personal information. This includes your full name, date of birth, marital status, residential address and contact details. You also need to provide valid ID, such as your driver's licence, Australian passport or Medicare details.
Employment. This includes your current place of employment, your employer's contact information and proof of income, such as recent payslips, bank statements or tax assessment notices.
Financial details. This covers any other forms of income and assets, such as savings. You also need to include details of existing credit cards, loans and other regular expenses, including household essentials such as groceries and utilities.

Card benefits

Rewards program. This card earns 1 Suncorp Credit Card Reward Point per $1 for the first $1,500 of eligible spending in a statement period, then 0.5 points per $1 of eligible spending for the rest of that statement period. You can redeem your points for gift cards, retail items, statement credits and loyalty point transfers to Velocity Frequent Flyer, Singapore Airlines KrisFlyer and Flybuys.
Complimentary insurance. You'll get access to complimentary purchase protection insurance and extended warranty insurance for eligible items you buy with the Suncorp Clear Options Gold Credit Card. As with any insurance, make sure you read the policy documents available on the Suncorp Bank website for full details.

Security. This card offers protection against fraudulent transactions with FRAUDSHIELD technology and Visa's Zero Liability Policy. You can also get 24-hour emergency card replacement in Australia. And when you shop online, Visa Secure adds another layer of security to the payment process.
Mobile wallets. You can add this card to Apple Pay, Google Pay and Samsung Pay, then make payments from your eligible smartphone or smartwatch.

Rates & fees

Annual fee. This card charges a $129 annual fee.
Purchase interest rate. The 20.74% p.a. variable purchase rate on this card is slightly lower than the average standard credit card interest rate in Australia (20.07% p.a. according to RBA data).

Interest-free days. If you pay your balance in full by the statement due date, you can get up to 55 days interest-free on purchases.
Cash advances. If you use this card for ATM withdrawals or other cash advance transactions, a 21.99% p.a. cash advance interest rate applies. Cash advances also attract a cash advance fee worth 3.5% of the transaction or $3.50, whichever is greater.
Foreign transaction fee. A 3.4% foreign transaction fee applies when you use this card overseas or online with a business that's based overseas.

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Amy Finder

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linda

February 10, 2015

I have GE master card with 900.00 owing, I am on Centrelink, can I transfer to Suncorp & have a $1000.00 limit card?

Linda.

Jonathan Finder

February 10, 2015

Hi Linda, thanks for your inquiry!

Please note that lenders have individual lending policies. Suncorp Bank will need to assess your financial and personal situation to be able to advise on your options and eligibility.

The minimum income requirement for this card is $30,000 p.a. with a minimum credit limit of $5000.

Cheers,

Jonathan

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Adele

July 26, 2014

Now that you no longer provide travel insurance with your gold card, how much will the yearly fee be?

Shirley Liu Finder

July 28, 2014

Hi Adele,

Just to clarify, finder.com.au is an online comparison service. We are not directly affiliated with Suncorp.

At the time of writing, the annual fee for this card is $120.

Cheers,

Shirley

Ken

January 08, 2014

Can I transfer balance from ANZ ac to my Suncorp Gold visa account?

Jacob Joseph Finder

January 08, 2014

Hi, Ken.

If you have an existing Suncorp account that you would like to transfer a balance to, please contact the lender directly to see what balance transfer rate they can give for existing customers.

Thanks for your question.

Guy

December 09, 2013

I am now retired with assets in excess of 2 millions dollars and annual income from investments and superfund in excess of 250,000 dollars.

What do I need to supply with? Your form asks for the name of my employer but I don’t have any. How do I prove my income to you?

Jacob Joseph Finder

December 09, 2013

Hi Guy.

If you’re retired you can still apply for this card, you will need to select ‘self employed’ and then you will need to provide your accountant’s details so he can verify your information when contacted by the bank.

Thanks for your question.

Danielle

November 20, 2013

Can you check my credit file?

Jacob Joseph Finder

November 20, 2013

Hi Danielle,

Thanks for your question.

You can find information on how to order a copy of your credit file.

I hope this helps.

Cheers,

Jacob

Suncorp Clear Options Gold Credit Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

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