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 Life Rich 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 13 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 Life Rich 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 Life Rich 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 Life Rich 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 13 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 Life Rich 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. The card also offers the services of a personal concierge via Mastercard Concierge.
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.
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 13 months.