What Are The Fees For This Card?
This great card comes as both a Silver and Gold MasterCard. The annual fee for the Silver is only $45 and for the Gold, the fee is $85.
There is an introductory balance transfer rate of 4.9% p.a. that is valid for the first six months. After this the retail rate of 18.74% p.a. will apply. The cash advance rate is currently 19.99% p.a.
Balance transfers are great for people who have existing unpaid credit cards. A balance transfer allows you to move your balance from an existing account to a new one, like this MyCard credit card. The benefit of this is that you will be able to take advantage of the great rate of 4.99% for the first six months.
A lower interest rate is a great way for you to minimise and even to pay off your debts, as more of your payment is going towards the debt and less is being paid towards the interest charges.
What Are The Benefits Of Having This Credit Card?
So what do you get for these fees? To start with, you will be able to take advantage of 55 days of no interest on your retail purchases. This is really great if you sometimes need a little more time to pay off your balances.
Also, you will receive insurance that covers new items that you have purchased for 3 months. This complimentary insurance covers loss, theft or damage of your new items.
If you want to add more cards to your account, you can do so for no extra charge. You can add as many as four extra cards to your account for free! This is great if you want to give a card to your spouse or to your children.
If you opt to sign up for the Gold card, you will be able to have a high credit limit. The MyCard Gold credit card offers you credit limits that go from $5,000 to $25,000. This increased credit limit and the spending power that comes with a MasterCard means that you will not be short of funds regardless of where you are in the world.
In addition to a higher credit limit, the Gold card also offers its card holders free travel insurance that is valid for overseas travel. We all know how expensive insurance can be, so having this free insurance can save you a lot of money in the long run.
Does This Card Give Me Rewards?
Yes it does! Each dollar that you spend will give you 1 reward point. These points can then be redeemed for a lot of different things, that include:
- Cashback, which can be put towards out outstanding balance or put towards paying for the annual fee
- Shopping vouchers, which are available for a wide range of stores (Myer, Target, Harvey Norman, Kmart, and more)
- Electronics gifts, which include printers, mobile phones, cameras and iPods
- Gifts such as books, wine and even subscriptions
Alternatively, if you want to earn points from Qantas, you can ask for a MyCard Gold that has Qantas Rewards. Being a part of this program will mean that your points will transfer automatically to your Frequent Flyer account with Qantas, each month on your statement date. This option has an annual fee of $118.
