- No annual fee the first year, $149 p.a. thereafter
- 0% p.a. for 20 months on balance transfers with no balance transfer fee
- Earn 1 CUA Platinum Rewards Point per $1 spent on Mastercard
- Complimentary International travel insurance for up to 4 months
- Purchase cover insurance
- Up to 9 free additional card holders
- Eligible with Apple Pay and Google Pay
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ANZ Frequent Flyer Black Credit Card
120,000 Bonus Qantas Points + $200 back*
*T&Cs apply. Two Qantas Club lounge invitations per year. $425 annual fee
CUA Credit Cards
CUA Platinum Credit Card
Updated 1 March 2021
Be rewarded for every dollar you spend and enjoy no annual fee for the first year - save $149. An ideal choice if you are looking for a Platinum Card with balance transfer facilities, the CUA Platinum Credit Card is currently offering 0% p.a. on transferred balances for the first 20 months.
T&Cs apply. Offer ends 1 October 2020
Purchase Rate (p.a)
19.99%
Balance Transfer (p.a)
0% for 20 months
No balance transfer fee.
Reverts to 21.74% p.a.
Annual Fee (p.a)
$0 first year. Then $149 p.a.
Pros and cons
- After 20 months the balance transfer rate reverts to 21.74% p.a.
Creditcard.com.au review
Editor Review
CUA Platinum Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The CUA Platinum Credit Card
A flexible option for cardholders looking to earn rewards on their everyday purchases, the CUA Platinum Credit Card offers a choice of reward options on the CUA Platinum Rewards program. As a platinum card, it also provides a number of platinum perks, such as complimentary overseas travel insurance, no annual fee for the first year, and 0% p.a. on balance transfers for 20 months.
What we love...
While it may offer a few nice perks, the CUA Platinum Credit Card is a rewards card above all. As a cardholder, you will earn 1 CUA Platinum Rewards Point for every $1 dollar you spend on purchases on the card, capped at 100,000 points per year. As long as you remain a CUA Platinum Credit Card holder – and your account remains in good standing – your points will never expire.
So, what can you spend those points on? The CUA Platinum Rewards program is pretty flexible, allowing users to choose from a range of rewards points redemption options through the program’s easy-to-use online store, with the option to redeem points for merchandise such as toys and tech, appliances and homewares, or on gift cards.
Alternatively, users can access the program’s full-service travel website, Redeem4Travel to redeem points for travel. CUA Platinum Rewards points can be used to book and pay for flights, accommodation, tours, activities, car hire and more – and if you don’t have enough points in your account, you can use Points plus Pay to cover your travel selection.
Why choose the CUA Platinum Credit Card over other platinum rewards cards? Well, one reason to choose this card could be for its introductory offers. First up, the card has no annual fee for the first year. That means new cardholders can earn rewards and enjoy all the extras offered on the card while paying zip in annual fees in the first year.
Secondly, the card’s balance transfer offer. New cardholders can take advantage of 0% p.a. on balance transfers for 20 months, with no balance transfer fee. This could provide a great way for cardholders to clear their credit card debt while paying no interest and no annual fee. Take note, you may transfer up to 80% of your credit limit from non-CUA issued credit cards.
What’s not so great...
As with most platinum rewards cards, the CUA Platinum Credit Card’s standard annual fee is sizable. But as long as you avoid interest – both the purchase rate and cash advance rate on this card is high – and you get more back in rewards and features, that annual fee may worthwhile for you as a cardholder.
Why should you choose this card?
If earning points is your thing, the CUA Platinum Credit Card may just be for you. You can earn points on most purchases, to then spend as you like within the CUA Platinum Rewards program. As we mentioned earlier, there are some platinum perks also offered, which could help to make this card even more appealing.
You could benefit from complimentary international travel insurance and transit accident insurance, while also taking advantage of purchase protection insurance, providing cover for loss, theft or accidental damage on eligible items purchased on your card within 90 days.
If you’re looking for added functionality, you can sync your card with your device to use Google Pay and Apple Pay. And, if you want to keep interest costs low, you can take advantage of up to 55 days interest free on purchases as long as you pay off your balance by the due date in the previous month. There is no interest free period on cash advances or balance transfers.
Overall Rating
Offering an easy way to earn points on a flexible rewards program, the CUA Platinum Credit Card also provides extras in the form of complimentary insurance cover, no annual fee for the first year, and 0% p.a. on balance transfers for 20 months.
User reviews
Rates and fees
Interest rates
Purchase rate 19.99% p.a.
Cash advance rate 21.74% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 20 months
Balance transfer revert rate 21.74% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit 80% of approved credit limit
Banks you can't balance transfer from CUA
Credit limits
Minimum credit limt $5,000
Maximum credit limit N/A
Fees & repayments
Annual fee $149 p.a.
Additional card holder fee Up to 9 at no extra cost
Foreign transaction fee 3.4%
Minimum repayment 3% or $35 (whichever is greater)
Annual fee the first year $0
Cash advance fee 2% or $3.50, whichever is greater
Late payment fee $12.50
Rewards and points
Rewards program
Rewards Program
CUA Platinum Rewards
Bonus points N/A
Annual points cap uncapped
Bonus points spend criteria N/A
Earning points with this card
CUA Platinum Rewards Rewards points 1 point per $1 spent
Points cap per month N/A
Overseas earn rate same as standard earn rate
Additional features
Complimentary insurance
International Travel Insurance Yes - up to 4 months
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance Yes
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Extras
Eligible with Apple Pay and Google Pay
Overview
CUA Platinum Credit Card
If you are looking for rewards, the CUA Platinum Credit Card has it covered. You will earn 1 point for each dollar you spend, and points can be redeemed on more than 300 items. You can also choose from a range of electronic items, shopping vouchers for leading retailers, and cashback. Choosing the CUA Platinum Credit Card, you can also benefit from up to 55 days interest free on purchases, no price guarantee, purchase protection and up to 9 additional cardholders (no charge).
Key features
- No annual fee the first year, $149 p.a. thereafter
- 0% p.a. on balance transfers for the first 20 months. No balance transfer fee.
- Earn 1 CUA Platinum Rewards Point per $1 spent on Mastercard
- Complimentary International travel insurance for up to 4 months
- Purchase cover insurance
- Up to 9 free additional card holders
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Resident or citizen of Australia
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
Recently Asked Questions
Something you need to know about this card? Ask a our credit card expert a question.
Ask a question13 questions (showing the latest 10 Q&As)
IS THE CREDIT CARD ACCOUNT GOING TO SHOW UP IN MY CUA ACCOUNTS LIST
sorry did not know had caps on
Hi Warrick, no worries on the caps. I believe it should be integrated with your other CUA accounts. I would give a call or email to CUA credit card customer service to confirm.
I have earned points in my Master Card (110,700) that I would like to use. But I'm not sure of what to use it for?
I use my card for all my daily expenses and bills, is this the correct card for me to earn points?
What is your advise?
Hi Teresa, that is a decent amount of points. To find the right rewards program for your needs. You will need to have a think about what rewards you are after. I like earning Qantas Points and then converting them into travel. Have a look at the Westpac Altitude Black. This has high points earning, a good rewards program. Plus the 150,000 bonus points. Maybe its time to move away from CUA?
Hi, I have just made some accommodation payments(over $500.00) for my stay in the USA using my platinum credit card. To access the travel insurance, is there anything I need to do? Or is it automatic, if so, do I receive a cover number? Tried going to page 42 as suggested by you, however page was not able to load. Thanks in advance.
Hi Jo, You can check out all the details here: https://www.cua.com.au/__data/assets/pdf_file/0017/27152/RC00690_Platinum-Credit-Card-Terms-and-Conditions-for-Other-Benefits_190614_WEB.pdf. From the terms themselves 1. Who is eligible?
A cardholder is eligible for this International Travel Insurance when they meet all of the following eligibility criteria: a] the cardholder’s travel is for no more than four (4), consecutive months; and, b] before leaving Australia the cardholder charges
a minimum of five hundred dollars ($500) in prepaid: • transport costs (including travel by air, rail, road or watercraft; and/or • accommodation costs; and/or • organised land tour costs, to the accountholder’s card account. From what you are saying you sound all good.
if I pay your airfare for overseas travel with my platinum credit card, am I then automatically covered for travel insurance and if so have you a pdf on what it actually covers you for
Hi Karen, I have found this PDF - https://www.cua.com.au/__data/assets/pdf_file/0017/27152/RC00690_Platinum-Credit-Card-Terms-and-Conditions-for-Other-Benefits_170328.pdf. Check out page 42. For eligibility, prior to
the commencement of your overseas journey you have paid a minimum of A$500 in pre-paid overseas expenses is the main requirement. Though read through the PDF to get all the details.
When does the interest free period starts
Hi Tony, for the balance transfer, this would start soon after card activation. For the up to 55 days interest free on purchases, this will depend on your billing cycle. You would need to contact the bank or review your billing statement for this information. You only receive interest free days on purchases if you pay off your balance in full in the previous period and do not have a balance transfer active.
Can CUA Platinum rewards points be redeemed for Qantas points
Hi May, you cannot transfer points directly to Qantas. Though you can use your CUA Life Rich Rewards points to book and pay for flights, accommodation, tours, activities, car hire and more.
Are payment of council rates and water bills included for reward points ??
Hi James, took me a while to find this. You will not earn Rewards Points on interest charges; government charges (other than GST payable in connection with the purchase of goods or services on which you earn Rewards Points); bank fees and charges; all purchases for gaming or gambling transactions including gambling chip purchases and online gambling purchases; cash advances; balance transfers; card account adjustments resulting from disputed transactions (e.g. transactions that are fraudulent or involve an abuse of your Card Account); and any other transactions which, from time to time, may be excluded by us.
I cannot see anything related to rates or water bills, excluding them from points earning. Though they do have a clause where they can exclude anything they want. https://www.cua.com.au/__data/assets/pdf_file/0017/27152/RC00690_Platinum-Credit-Card-Terms-and-Conditions-for-Other-Benefits_170328.pdf
1. Is the rewards system linked to any frequent flyer program
2. Regarding international travel insurance - do you have premium cover - including repatriation to home? What if you have a preexisting condition - what happens with that.?
Hi Margaret, CUA have a custom rewards program - https://www.cuarewards.com.au/. As a CUA Platinum Credit Card holder, you can redeem your CUA Life Rich Rewards points for a great range of travel options through Redeem4Travel, our full-service travel website.
I found a PDF on the CUA website that provides full detail on the travel insurance - https://www.cua.com.au/__data/assets/pdf_file/0017/27152/Platinum-Credit-Card-Terms-and-Conditions-for-Other-Benefits_160523.pdf. Check out page 15 and beyond.
Hi , could you please send me details of travel insurance now that I have the platimum mastercard.
Hi Ron - I have been struggling to find out the full details on this. From what I can find, to get further details you need to log into https://www.cardservicesdirect.com.au.
Complimentary Insurance is provided automatically to cardholders under a master agreement between Zurich Australian Insurance Limited ABN 13 000 296 640, AFSL No. 232507 and Citigroup Pty Limited, and is subject to Terms and Conditions and exclusions available at www.cardservicesdirect.com.au
Hi we currently have Cua platinum card and looking to link it to Virgin or velocity miles accumulation...how is this done?
Hi Marcio - Give CUA Customer service a call and they will sort you out - call 133 282 between 8:00am - 8:00pm (AEST) Monday to Friday or 8:00am - 4:00pm (AEST) Saturday and Sunday, or visit your local CUA branch.
how much is the lost card replacement fee?
Hi Matty, the card replacement fee is $40, when you lose your card overseas. You can see the full schedule of CUA fees in this document.
whats the criteria for additional cardholders?
Hi Stephen, additional cardholders are subject to approval by CUA, and must be over the age of 18. At the moment you are allowed up to four additional cardholders with this credit card, but you would be liable for any transactions carried out by them.
Does I reward point equal 1 Qantas FF point ?
Hi Rodney, with this card you can convert reward points to Velocity or Kris Flyer points, but not Qantas. You can use your CUA rewards points with 11 different airlines though, which does include Qantas. Hope that helps.
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Gayle Franks
28 January 2013I recently got this card for the balance transfer offer. I wanted longer to pay off the transferred balance and this was a great offer. The other reason I chose this card was for the rewards points. I have been earning quite a few points and look forward to spending them.
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