Suncorp Clear Options Platinum Card 100,000 Bonus Reward Pts, Half Price First Year Fee ($64), Spend $3000 in 90 Days

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endolphin on 03/07/2021 - 11:32 suncorp.com.au (945 clicks)
Last edited 06/10/2021 - 09:19 by 1 other user

Given the hype around the (also Citi backed) PayPal credit card, thought it was a shame that this card was not posted given that the net benefit is higher.

100,000 Bonus Suncorp Reward Points and half price First Year Fee ($64 instead of $129).
To earn 100,000 bonus Suncorp Credit Card Rewards Points, you must apply for a Suncorp Clear Options Platinum Credit Card by 4 October 2021, then spend $3,000 or more on Eligible Transactions within 90 days from approval.

$100 wish gift card = 20,900 points from their reward shop, therefore these 100,000 points are worth roughly $478 in gift cards. Or $400 cashback.

Also converts at 2:1 to velocity (so 50k velocity points) but I am not sure if this transfer is still available?

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  LakeVostok on 03/07/2021 - 11:59

  Thanks Endolphin, good deal! Suncorp Bank is a good bank.

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  bobbie34567 on 03/07/2021 - 12:06

  The kogan cc really hit my credit score, will this do the same? Could be cycling cards every 3 months be an issue?

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    GS9891 on 03/07/2021 - 14:50

    No CC should really hit it any more than any other unless you defaulted on it, took out a huge credit limit, or someone made a mistake and did multiple hard pulls of your score at Kogan.

    I think 20+ applications/pulls within five years (and any rejections) are when you start to see issues.

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      QFFlyer on 23/07/2021 - 22:27

      Rejections don't appear (only the search - no details re the outcome) on your report. The hard pulls have a minor short term impact, but it's negligible over time - 10 in a week is a problem, 10 in a year less so (I try to stick to ~5 per year, but if there's a good opportunity I'll occasionally do 2/3 at a time).

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  shppngtrlly com au on 03/07/2021 - 12:27

  Great deal OP! Suncorp has Woolworths and Coles gift cards (which is great!), my other card only has Woolies so just got this one so I can use Coles. Although the Coles gift cards lack the $20 denomination, so you got to spend a little more.

  Woolworths gift cards: $490 total, with 1,450 points remaining.
  Coles gift cards: $450 total, with 9,850 points remaining.

  I'll put more details on my forum post.

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    UrMumsOnlyFan on 03/07/2021 - 12:36

    +2

    Citi Rewards Card – 90k Bonus Citi Reward Points & $100 Coles eGift Card - $49 First Year Annual Fee, $149 after offers slightly higher net benefit due to the $100 Coles gift card and the slightly lower annual fee.

    • Woolworths $20 e-voucher = 4,200pts (210pts per $1)
    • Coles or WW $50 e-voucher = 10,500pts (210pts per $1)
    • Coles or WW $100 e-voucher = 20,900pts (209pts per $1)
    • Coles or WW $200 e-voucher = 41,700pts (208.5pts per $1)
    • Coles or WW $500 e-voucher = 104,200pts (208.4pts per $1)
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      shppngtrlly com au on 03/07/2021 - 13:31

      Yep! Agreed. CitiRewards is $491 in gift cards profit after paying $49 annual fee, and Suncorp is $426 in gift cards profit after paying $64 annual fee.

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  Unacceptable on 03/07/2021 - 12:28

  Thanks op. Applied.
  I’m Suncorp customer with mortgage and wonder if I can get the fee waived?

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    aragornelessar on 03/07/2021 - 12:48

    +2

    Are you paying for the Home Package Plus with your mortgage? That comes with annual fee free credit cards - but you won't get the introductory offer

    Pay no Annual Card fee on new Suncorp Bank Platinum, Gold or Standard Credit Cards.
    Please note, introductory credit card offers are not available in conjunction with a Home Package Plus package. Should you choose to take up an introductory offer an Annual Card fee will apply.

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  Unacceptable on 03/07/2021 - 14:41

  Is this Citibank backed? After submitting the documents Citibank sent me an acknowledgment email.

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    UrMumsOnlyFan on 03/07/2021 - 17:36

    Yes.

    Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian Credit Licence No. 238098 (Citigroup) is the credit provider and issuer of Suncorp Clear Options Credit Cards. Suncorp-Metway Ltd ABN 66 010 831 722, Australian Credit Licence No. 229882 (Suncorp Bank) promotes and distributes Suncorp Clear Options Credit Cards on Citigroup’s behalf under an agreement with Citigroup. Suncorp Bank will not guarantee or otherwise support Citigroup’s obligations under the contracts or agreements connected with the Credit Cards (other than those relating to Suncorp Bank internet banking and telephone banking). Suncorp Bank has not assisted you to make this application and does not suggest you apply for any particular Suncorp Clear Options Credit Card type. Citigroup, not Suncorp Bank, will be assessing your application.

    You're effectively dealing with Citibank, but potentially could have gotten higher net benefit directly through Citibank.

    • 

      prankster on 11/08/2021 - 00:00

      making sure even though its backed by citibank, my application won't be affected by having an existing citibank card?

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        UrMumsOnlyFan on 11/08/2021 - 08:28

        There is no reason to think that it would.

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  SBOB on 13/07/2021 - 12:31

  Thanks
  In lockout periods for amex, westpac and anz. Already have a dedicated citibank card so this was an easy approved interim one for some free $ :)

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  Unacceptable on 24/07/2021 - 09:26

  Got 100k points already.
  Edit: oh. I’ve mistaken this with NAB. No I haven’t got the points yet.

  • 

    Scope on 05/08/2021 - 01:50

    Have you got your bonus points yet?

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  DryScissors on 10/08/2021 - 08:51

  Got my points super quick but noticed that they hit me with two credit checks. Suncorp told me that I’d have to raise it with Experian. I told them it was their mistake so they would have to raise a ticket from their end, to which they agreed.

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  lilfatbum on 19/08/2021 - 20:02

  Super slow ass with getting my 100k points, they said I'd get it 90 days after opening. Then the second guy on the phone said its 6-8 weeks after you hit 3k on eligible purchases. Either or, I'll keep waiting.
  Unfortunately yes, these dudes are with Citigroup so just be wary of this.

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  Kas on 12/09/2021 - 09:55

  Got my points, not even 2 months… activated on 19th July.
  Lots of points redeem options, even you can pay cc purchases from available points balance… need to do a good analysis to see which option give more benefit. Thanks OP for this deal.