Suncorp Clear Options Standard Credit Card

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
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Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
Suncorp Clear Options Standard Credit Card
Apply by 31 jan 18
14 reviews
0% p.a. on balance transfers for 12 months.
Low 12.74% p.a. interest rate on purchases.
$100 cashback when you spend $3,000 in the first 6 months.
Add to comparison
12 months
0% p.a.
then 21.99%
12.74% p.a.
ongoing
$55
ongoing
 
saved over 12 months
Similar cards

Pros & cons

What's good?

What's not so good?

0% p.a. on balance transfers for 12 months.
No balance transfer fee.
$100 cashback when you spend $3,000 in the first 6 months.
The 12.74% p.a. ongoing interest rate charged on purchases is cheap.
Low $55 p.a. annual fee.
Add up to 4 additional card holders for no extra cost.
Get a credit limits from a minimum of $2,000 to a maximum of $20,000.
Security protection with FRAUDSHIELD®.
Samsung Pay enabled.
Visa payWave enabled.
No interest free days on purchases.
The $40 fee charged for exceeding your maximum credit limit is quite high by comparison.

Our review

Our review of the Suncorp Clear Options Standard Credit CardReviewed by Yvonne Taylor

Let’s face it, nobody likes paying credit card interest, but sometimes it’s just unavoidable. Anyone with regular experience of being unable to clear their card balance will see the value of the Suncorp Clear Options Standard Credit Card straight away. It has no interest-free days on purchases but a very low interest rate, for a credit card.

What is the point of a card with interest-free purchase days that you will never be able to take advantage of because you are always carrying a balance, especially if the downside is an interest rate of 20 percent or more?

On the other hand, fortunate people with a substantial guaranteed income may never consider a credit card like this, because they expect to pay off their card balance in full each month and are therefore able to use a card with up to 44 or 55 interest-free days. They may however, be making a mistake if they dismiss it out of hand.

Low 12.74% p.a. interest rate on purchases

This is a card primarily for those who want the convenience of a credit card, but accept the reality of paying interest on purchases because their income is sometimes irregular or unpredictable. In such a situation, this card’s low interest rate on purchases makes it shine.

Provided the minimum monthly repayment of 2.5% of the balance is always met, there’s no need to sweat about whether you can pay the full balance on the due date, because there are no interest-free days to lose. Meanwhile, whenever your income arrives you can make an immediate payment to reduce the balance more significantly and keep interest charges to a manageable minimum.

Even the best-laid plans can sometimes go astray –

– said a famous poet, and he was right on the money. Here’s the flip side of the coin. Although you may pay off the balance on your current card conscientiously every month, revelling in those interest-free days, you can’t always guarantee what life is going to throw at you. Illness? Unemployment? Unexpected house or car repairs? It would be a good idea to have a low-interest card like this always at the ready for use in emergencies. Then you can preserve the precious interest-free days on your main card – which may have a purchase interest rate of 20 percent, plus – and avoid paying exorbitant interest as soon as you fail to clear the balance.

Balance transfer offer – 0% p.a. for 12 months

Now, here’s even better news for anyone currently struggling with credit card repayments. You can transfer your balance, without any transfer fee, from your current card to your new Suncorp card, and pay no interest at all for 12 months.

How much will you save? Heaps, if you are paying interest of around 20% p.a. on the card you have now. If you were approved for a limit of $5,000 you would be able to transfer as much as $4,000 from your old card and save $882 in interest charges. A word of warning, though. The revert rate is the 21.99% p.a. cash advance rate, not the low 12.74% p.a. purchases rate. So if you can’t clear your transferred balance at the end of 12 months, you will end up paying a very high interest rate on it.

And for those just keeping their new card for emergencies, why not transfer a balance anyway? It won’t cost you a cent (except minimum repayments) as long as you have the cash ready to clear the remaining balance when the interest-free period expires. You could deposit in a savings account the cash you had earmarked for full repayment, and earn interest for 12 months.

Visa Entertainment

This may be a very basic card, but you’ll still feel special if you take advantage of your entitlement, as a Visa cardholder, to pre-sale tickets, offers and competitions from top entertainment providers. You can sign up for e-mail alerts to get news about the latest deals.

Convenience and security

Once again, there’s no skimping on card facilities, even though it’s not a blue-ribbon card with a matching top price. You’ll still get the protection of FRAUDSHIELD® protection to monitor transactions and protect you from bogus charges. And when you’re in a hurry you’ll appreciate the ease and speed of Visa payWave for purchases under $100.

Some fees are a bit over the top . . .

You’ll want to avoid the higher-than-average $40 for exceeding your credit limit. Apply in advance for a limit increase if you think you’re likely to max out your card.

The 3.4% charged on foreign transactions (including online shopping sites based overseas, even if they charge in Australian dollars) is also somewhat excessive.

. . . but the $55 p.a. annual fee is very affordable

As you would expect with a straightforward, no-frills card, the annual fee is a very reasonable $55 p.a.. There is also no extra
charge for up to four supplementary cardholders on your account.

Why choose the Suncorp Clear Options Standard Credit Card?

There are two distinct profiles for the ideal user of this card:

Someone who expects to carry an unpaid credit card balance for most, if not all, of the time, and whose focus is therefore on the low interest rate. Interest-free days on purchases have no appeal whatsoever and will not be missed, but the long, zero-interest balance transfer offer could be a lifesaver.
or
Someone who makes full use of the interest-free days on their current card by paying off the balance in full, always. They would, however, like to keep a cheap, low-interest card in their wallet for emergencies. Meanwhile, there’s money to be made from a balance transfer.

User reviews

3.9 out of 5.0 based on 14 reviews86% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Lacking a rewards program

Reviewed and recommended by Sarah on 08 Jan 2017

Whilst I find the Suncorp Clear Options card great as it has a low interest rate and annual fee, it has no rewards program available. To reap the rewards of such a program you need to upgrade to a different card, where the interest rates and annual fee are higher. I think it would be worth looking into a smaller rewards program as an option for this card, so hopefully Suncorp might explore that option in the future.

I saved a lot of money with this card

Reviewed and recommended by Jeya on 24 Jun 2016

I can finally see my payment reducing and feel like I am paying it off instead of being slammed with interest and late payments. It’s helping me get on top of my debts during a crucial time. Even if I am late by a day or so, customer services are not demanding, but instead they remind me of the missed payment.

This card saw me through and I trust Suncorp

Reviewed and recommended by Donovan on 10 Nov 2016

I received this card when I was a student going through the tertiary education system. I needed the ability to buy groceries and afford a car and rental payments long-term, and due to heavy workloads, this card saw me through.

The customer service reps were able to help me with any problems I encountered and I was able to trust the Suncorp model.

Flexibility and freedom

Reviewed and recommended by Sandra on 17 Oct 2013

I was originally issued the card when I required a small short term loan. The card is convenient to use, statements are clear and concise. I have never had a statement that is inaccurate and am happy with the service provided. I would recommend the Suncorp Clear Options Standard Credit Card – better than a personal loan if used with spending discipline.

Value for money

Reviewed and recommended by Karan on 03 Jul 2016

I have always been very happy with Suncorp as a credit card issuer. They have always been upfront, understanding, and honest. I like that they reward loyal customers with decent rewards and they allow you to choose your rewards from a list. Card replacements for lost cards are always done quickly.

Terrible customer service

Reviewed and not recommended by Steve on 22 Sep 2016

I get absolutely no benefits at all from this card. The brand’s customer service is terrible. They simply do not understand about customer service at all.

I have put two complaints in to the Financial Services Ombudsman about the card. I won the first one, the other’s ongoing. Wish me luck!

Great card for everyday use

Reviewed and recommended by Smith on 21 Oct 2014

This card is great to use for everyday purchases. The service at the bank when initially applying for the card was above and beyond, which was wonderful. I use this card for all my grocery shopping, and I also use it to shop online. I have never had a problem using the card at all. It has very good interest rates and fees, which are competitive with other banks.

The very best I've ever had

Reviewed and recommended by Baxter on 10 Oct 2013

I have been with Suncorp for many years now and I can highly recommend their service in every aspect of banking. Totally comforting to deal with since I changed banks years ago. Quick service friendly staff and I even know my managers first name and get to speak with him/her at anytime I need to.

Convenient for shopping

Reviewed and recommended by Alibi on 20 Aug 2013

Perfect for everything we need. So many times we are shopping and don’t have cash on hand we then pay the balance on the card back at the end on the month thus avoiding extra fees and interest. My husband finds it so convenient when doing the grocery shopping as well so it is also great to have on hand for doctor’s bills, etc

Happy with Suncorp

Reviewed and recommended by Cydonia ross on 26 Aug 2013

The card I have with Suncorp is easy to manage and keep track of transactions with. I can use it anywhere, anytime where ever I maybe. The fees are manageable and all information is up to date. There are enough branches in the city and suburbs for me to access easily.

Show 4 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Standard
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$20,000
Minimum income for pensioners
$Same as standard
Pensioners
Rewards program
None
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$2,000
Maximum credit limit
$20,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 0 days on purchases
Minimum repayment
2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months0%80% of credit limit21.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Suncorp Clear Options Standard Credit Card at the promotional balance transfer rate from:

  • Bank of Queensland
  • Beyond Bank
  • Citi
  • Family First Credit Union
  • FCCS Credit Union
  • IMB
  • MyState Financial
  • Suncorp

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months0%80% of credit limit 21.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.83% 21.99% p.a.
Purchases 1.06% 12.74% p.a.

Fees

Annual fee
$55 p.a.
Cash advance fee
3.5%
Dishonour fee
$15
Duplicate statement fee
$14
Foreign exchange fee
3.4%
Late payment fee
$10
Over limit fee
$40
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
$1.50
Overseas emergency card replacement fee
$50.00
Transaction verification fee
N/A

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $20,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments and Foster Care Allowance are acceptable.
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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