The Benefits
SGE Credit Union Gold Solutions offers low annual fees, interest free days, an additional credit card at no extra cost, extended warranty insurance and purchase security insurance. Add to that a complementary rewards card, overseas travel insurance, easy ATM access for cash withdrawals and passport security insurance.
The Application
Applying for the SGE Credit Union Gold Solutions is easy, convenient and can be completed online. The application can be sent by postal mail or delivered to the credit union in person. To be eligible to apply for the SGE Credit Union Gold Solutions, the applicant must be at least 18 years of age, have a good credit rating, earn a taxable income of at least $25,000 per year or more and be a permanent resident of Australia. If the applicant is already a SGE Credit Union Gold Solutions holder, you must have held the current account for at least 9 months before applying for a new SGE Credit Union Gold Solutions.
To complete the application, the applicant must provide their contact information, driver’s license number if the applicant has one (a driver’s license is not required to apply for the SGE Credit Union Gold Solutions), employer information including telephone number and address. If self employed provide the name of your accountant, the company name and telephone number. If you are to apply for a credit card balance transfer, provide the accounts and the balance to be transferred.
The Rewards
The rewards program, called the Rewarder, is subject to a yearly, annual fee. The fee may be changed by notifying the card holder at least 30 days in advance of the date of effective change. Rewarder points are accrued at one point for every dollar spent via the card. Points will not be accrued if the account is more than 30 days in arrears or the card holder has acted fraudulently and breached the terms and conditions.
The reward points will only expire upon the termination of the account either by the card holder or SGE Credit Union Gold Solutions. Your rewards may be suspended or terminated if the account is more than 60 days in arrears. Reward points may be redeemed to pay your annual fee or balance on your credit card. Points may also be redeemed for goods or services, and that can be done by using the rewards card at merchants who offer EFTPOS.
Be sure to check with a merchant before using the Rewarder card to redeem points as they may have spending requirements before redemption is allowed. Points may not be redeemed outside of Australia. Points may not be redeemed for cash.
Card holders can track their points by applying for a PIN. That PIN will allow the card holder to track points on the Rewarder website. Every six months, the card holder will be issued an activity report that will include the number of points earned, points redeemed and number of points expired during the statement period.
Interest free Days
An incredible perk offered by a credit card company is interest free days. That means if the balance on the credit card is paid by the end of the billing cycle, the account will not be charged any interest. What that amounts to for the card holder is, technically, an interest-free loan. When a charge is made against the credit card, the issuer pays the vendor for that item. The card issuer charges the card holder a fee for paying that charge, or for lending the card holder the money to pay for that item.
Interest free days do not apply to cash advances. The normal, daily interest rate will apply. Also note, if the credit card holder is carrying a balance forward and has cash advance on the books, the payment made will go towards the balance with the lower interest rate first until that balance is paid. In the event, the purchase balance is the lesser of the two, the purchase balance will receive credit for the payment and the cash advance balance will continue to be charged interest for the full amount of the balance.
