The MyCard MasterCard from Holiday Coast Credit Union is a really great product. It couples the excellent service from Holiday Coast Credit Union with the support of MasterCard. Let’s find out a bit more about this product to see how it can benefit you.
What Are The Fees For This Credit Card?
The MyCard MasterCard is available as both a Silver and Gold credit card. The annual credit card fee for the Silver card is $45 and the annual fee for the Gold card is $85.
The interest rates for this card are 19.49% p.a. for purchases and 20.24% p.a. for cash advances. However, there is an introductory offer for balance transfers that offers a rate of 2.9% p.a. for the first six months.
Balance transfers are a solution for people who have existing credit card debt. Basically, balance transfers allow you to take your existing unpaid credit card balances and transfer them to a card with a lower rate, such as the MyCard MasterCard from Holiday Coast Credit Union. Once your balances are transferred, you will be able to take advantage of the low introductory interest rate, which will enable you to pay your outstanding balances off a lot quicker. This is because more of your payment is going towards your debt rather than towards the interest.
In addition to this, if you sometimes have difficulty paying your balances off on time, the MyCard credit card offered up to 55 interest free days. This gives you a little more time and flexibility when it comes to paying your bill, which can be very beneficial.
Are There Rewards With This Credit Card?
There most certainly are. Both credit cards have a standard reward program. This allows you to earn 1 point for each dollar that you spend. Reward points can then be redeemed for a huge number of gifts:
- Cashback can be redeemed and can be put towards paying your balance or toward paying the annal fee for your card
- You can get vouchers for your favourite shops, including, David Jones, Kmart, Harvey Norman and more
- Electronic gifts can be redeemed, such as mobile phones, iPods and cameras
- A huge variety of gifts can be redeemed, choose gifts for children, or wine, subscriptions or sporting equipment
If you have a Gold MyCard, you can choose for the rewards above, or from even more options:
- You can have your points transferred to the Virgin Blue Velocity program or to the Singapore Airlines KrisFlyer program
- You can join the Qantas Frequent Flyer program and have your points transferred there every month on the statement date. This will increase your annual fee to $118
What Other Benefits Are There?
If all of that was not enough to convince you, then here are some more selling points for you. The credit limits are very high for both cards. For the Silver card, the credit limit goes from $2,000 to $7,500 and for the Gold card, the credit limit starts at $5,000 and can be as high as $25,000.
In addition to all of this, when you have a MasterCard in your pocket, you will be able to make purchases all throughout Australia, all around the globe and even online. With the worldwide acceptance of the MasterCard and the excellent service that you get from Holiday Coast Credit Union, the MyCard MasterCard is a great choice for your next credit card.
