When you shop at selected retailers, you'll get access to long term interest free finance.
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While you may not have come across humm before, it's had an established presence both in Australia and overseas under its previous name Flexigroup. humm is a provider that focuses on providing innovative finance products, such as interest-free cards and no-interest-ever payment plans.
humm works with more than 14,000 partners across Australia, including Harvey Norman, IKEA, AGL Solar, Escape Travel, Apple Resellers and Fantastic Furniture.
Providing an alternative to the big four, the humm90 Mastercard offers one of the longest interest-free periods. You can choose from three distinct interest-free options, with 110 days interest-free on purchases, and longer term options and Long Term Interest Free plans, and take advantage of other perks.
In terms of features, the humm90 Mastercard focuses mostly on interest. This is a shopper’s credit card, designed to allow cardholders to save on interest with each and every purchase. Unlike cards with 0% purchase offers, which allow for interest savings during an introductory period only, humm90 Mastercard offers a way for cardholders to continue saving on interest in the longer term.
110 Days Interest-free
Many credit cards offer interest-free periods, usually ranging from 44 days to 55 days. The length of this interest-free period will vary depending on the date on which the purchase is made, and how far through the statement period it is. Interest-free periods are often only available to cardholders who clear their balance month-to-month by the due date.
Designed to offer extended savings on interest, humm90 Mastercard provides 110 days interest free on every card purchase. Of course, this doesn’t include cash advances. However, it can give cardholders a decent amount of time to pay off each purchase before it starts accruing interest. If there is a balance remaining after 110 days, it will attract the card’s standard purchase rate.
Long Term Interest-free
Another option designed to offer interest-free savings over the longer term is humm90 Mastercard’s Long Term Interest-free plan. A handy option for more expensive big-ticket items, this allows you to purchase items at partner retailers and use an interest-free term ranging from 6 to 60 months.
For making repayments, you can set up equal monthly repayments to pay off the purchase within the interest-free period (similar to a Buy now pay later plan), or you can choose to make minimum monthly repayments plus extra repayments at any time. Interest is only applied to any balance remaining at the end of the interest-free term.
Regardless of the repayment option you choose, you can repay extra at any time, and you can pay off the total amount at any time with no penalty. Application is easy too. You can apply instore, or you apply online before you head to the shops.
No Foreign Transaction Fees
The humm90 Mastercard has no international transaction fees on purchases made overseas or online at international retailers.
Some credit cards charge up to 4% of the transaction amount on each foreign currency transaction. So, humm90 Mastercard has the potential to save cardholders a significant amount of money, especially if you travel overseas on a regular basis, or shop online at overseas merchants.
One thing many cardholders worry about is security. This is one reason why so many Aussies opt for the big banks, as they believe they offer more security. However, just because humm isn't not one of the big banks, doesn't mean its cards are any less secure.
humm90 Mastercard offers all the security features offered on any other provider’s branded Mastercard. These include Mastercard SecureCode and Mastercard Zero Liability. On top of that, cardholders have access to Mastercard Global Service, which offers 24/7 assistance for lost or stolen cards, emergency card replacement and emergency cash advance.
But, humm90 Mastercard goes one step further. As the first card in Australia to offer Motion Code technology, humm90 Mastercard steps up security, creating an ever-changing 3-digit security code (CVV) to replace the static code usually printed on the back of the card.
That CVV is one of the security features used to prevent card fraud, but, once it ends up in the wrong hands, there is nothing to stop it from being used again and again. However, with a mini-screen on the back of the card, humm90 Mastercard refreshes the CVV every hour to a new random code. As dynamic data, it becomes rapidly unusable.
Another reason cardholders choose big banks is for the service and support on offer. However, humm90 Mastercard cardholders not only benefit from Mastercard support, they can also benefit from 24/7 account access, making it easy to track card use and keep on top of repayments.
Why should you choose humm90 Mastercard? With a great range of features, humm90 Mastercard could be the perfect choice for you. Let’s take a look at what it could offer.
Offering a range of flexible interest-free options offered over the long term and the short term, humm90 Mastercard could help you save big on interest on your purchases.
When you apply for a card simply for its 0% purchase offer, you only have access to interest-free shopping for that limited introductory period. With humm90 Mastercard, you can benefit from interest-free savings on all your purchases, with three flexible options to choose from.
Foreign transaction fees can really stack up when you’re overseas or shopping online. With humm90 Mastercard, you will pay no foreign transaction fees, helping you save while travelling, and when shopping online at international retailers.
While it may not have one of the big banks’ brands on the front, humm90 Mastercard is backed by Mastercard security features as standard, while also offering additional protection in the form of Motion Code technology.
Obviously, there is no such thing as the perfect credit card. It’s up to each cardholder to compare the features on offer, to then decide which card would work best for them. So, with that in mind, let’s take a look at some points to be aware of if you're considering the humm90 Mastercard.
If you don’t repay your purchase before the interest-free period ends, it will attract the card’s high purchase rate. If you take advantage of a promotional interest rate and fail to repay your purchase within the promotional period, it will attract an even higher ‘expired promotional rate’.
As the focus on humm90 Mastercard is interest-free shopping, it’s best to make sure all purchases are paid off before the interest-free period ends. That means being organised enough to track payments to know when they need to be paid off, to then be able to stick to a workable repayment plan.
humm90 Mastercard is not a rewards card, so cardholders cannot earn rewards on their spending. However, many cardholders will enjoy the benefits of saving on interest, which could more than make up for the lack of rewards.
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