Let’s review some of the great features of this credit card to see how it will be a perfect fit for you and your financial situation.
What Are The Fees For This Credit Card?
The Companion Credit Union base their fees on the needs of their customers. This means that their fees are both affordable and competitive.
This credit card is offered as both a Silver and a Gold card. For the Silver card, the annual fee is $45 and for the Gold card it is $85.
In addition to this, this credit card offers an excellent 2.9% p.a. balance transfer rate for a six month introductory period. A balance transfer is a really good option for people who have existing unpaid credit card debts. Basically, a balance transfer allows you to take these existing debts and to transfer them to a new account, such as this MasterCard from Companion Credit Union so that you can take advantage of the low balance transfer rate. A low interest rate means that you can pay off your outstanding balances a lot faster, because you do not have as much interest on top of it. This can be a great way for you to minimise or even to eliminate your existing credit card debt.
After the introductory period, the interest rate goes back to 19.49% p.a. on any retail purchases and to 20.24% for cash advances.
Are There Any Rewards With This Card?
There certainly are! You will receive rewards with 1 reward point for very dollar that you spend. After you have accumulated some points, you can then redeem them for various gifts, which include:
- Cashback, that can be put towards paying some of your outstanding balance, or it can be used for paying the annual fees for your card
- Shopping vouchers can be redeemed for your favourite shops, these include, Harvey Norman, David Jones and Myer
- Electronics for your home can be redeemed, these include printers, iPods and mobile phones
- You can also choose from a wide variety of gifts which include books, wine and subscriptions
If you have opted for the Gold card, you can choose to turn your points into reward points for Qantas Frequent Flyer rewards. The annual fee for this option is $188. If you choose this option, your points will be transferred once a month, on the date of your statement, to your Qantas Frequent Flyer account.
What Other Benefits Does This Card Offer?
To begin with, this card offers the great service of a MasterCard. This means that you can use can card in Australia, overseas and even to make purchases on the Internet.
In addition to this, you get rewards that do not expire and the ability to add up to four more cards to your account for no extra charge. This means that you can earn even more rewards! You will also receive free purchase cover that is valid for three months on items that you have purchased. This insurance covers theft, loss or damage.
The Gold card offers even more benefits. As a Gold card holder, you will receive free travel insurance for overseas travel, which will allow you to save hundreds of dollars. In addition to this, you will be able to take advantage of credit limits that start at $5,000 and can be as high as $25,000.
