- Introductory offer of 0% on balance transfers for 14 months
- Platinum complimentary insurance covers
- Earn rewards points on your purchases
- Discounted annual fee the first year of $99
Card Services Rewards
Spend $3,000 in first 3 months
Offering cardholders the opportunity to earn points on a flexible rewards program, the IMB Platinum Rewards Mastercard offers a great earn rate plus 20,000 bonus points after spending $3,000 in the first three months. On top of some platinum perks, the card also offers a discounted annual fee in the first year, and 0% p.a. on balance transfers for 14 months.
As the IMB Platinum Rewards Mastercard is a rewards card, let’s get into what it has to offer in the way of rewards first. As a new cardholder, you will receive 20,000 bonus points when you spend $3,000 on the card within the first three months. From there, your day-to-day earn rate will be 1 reward point for every $1 you spend.
Earning points on the Card Services Rewards program offers plenty of flexibility. You can redeem points for a huge range of merchandise, including fashion and jewellery, tech and gift cards. In terms of travel, you can redeem points for flights or holidays, or you can transfer your points to Emirates’ Skywards, Singapore Airlines’ KrisFlyer, Virgin Australia’s Velocity or flybuys.
Aside from rewards, the card has a few other tricks up its sleeve. If you’re looking to pay down credit card debt, you could take advantage of 0% p.a. on balance transfers for 14 months. This would give you more than a year to pay down your balance as you pay absolutely no interest on it.
On top of that, you will pay a discounted annual fee for the first year. If you happen to be an IMB home loan customer, you could save even more in annual fees. By applying in branch, your annual fee will be waived – so you will pay no annual fee, while earning rewards and making use of the card’s various features.
What are those extras exactly? Like many platinum cards, the IMB Platinum Rewards Mastercard offers a range of complimentary insurance covers. These include International Travel Insurance, Interstate Flight Inconvenience Insurance, Purchase Cover Insurance and Guaranteed Pricing Scheme. These covers could provide an excellent way to save money, but be sure to read the PDS so you understand how they work.
As a cardholder, you can also take advantage of the card’s Platinum Concierge Service, available 24 hours a day, seven days a week. The card also offers up to 55 days interest free on purchases as long as you clear your balance each month by the due date, and don’t have a balance transfer on your account.
Balance transfers can offer a fantastic way to save on interest, making it easier to pay down debt. But, you need to understand how the offer works before you sign up. With this card’s balance transfer offer, you can transfer up to 80% of your approved credit limit. And, if you do not pay off your transferred balance within the intro period, it will revert to the card’s high cash advance rate.
If you are looking for some decent platinum perks on a card that earns rewards on day to day spending, the IMB Platinum Rewards Mastercard could be well worth looking in to. Its rewards program is flexible and fairly easy to understand, with the option to transfer points to frequent flyer partners.
While the extras may not blow you away, they are pretty much standard for this level of platinum card. Its balance transfer offer is low and long, but bear in mind that if you are spending to earn rewards, you will need to work harder to pay off your new balance on top of your transferred balance.
A worthy platinum option, the IMB Platinum Rewards Mastercard makes it easy to earn rewards, offering 20,000 bonus points, plus 0% p.a. on balance transfers for 14 months, and a discounted annual fee for the first year.
Purchase rate 20.24% p.a.
Cash advance rate 21.74% p.a.
Interest free period on purchases up to 55 days
Balance transfer rate 0% p.a. for 14 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 Bank of Queensland, Citi, Coles, IMB, Qantas Money, Suncorp, Virgin Money
Minimum credit limt $6,000
Maximum credit limit $30,000
Annual fee $129 p.a.
Additional card holder fee Up to 4 at no extra cost
Foreign transaction fee 3.4%
Minimum repayment 3%
Annual fee the first year $99
Cash advance fee 3.5%
Late payment fee $10
Rewards Program Card Services Rewards
Bonus points 20,000 points
Annual points cap uncapped
Bonus points spend criteria Spend $3,000 in first 3 months
Rewards Rewards points 1 point per $1 spent
Points cap per month N/A
Overseas earn rate same as standard earn rate
International Travel Insurance Yes
Flight Inconvenience Insurance Yes
Transit Accident Insurance Yes
Smartphone Screen Insurance No
Purchase Protection Insurance Yes
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
The IMB Platinum Mastercard offers useful perks for travellers, as well as a very generous credit limit. As an added bonus, if you’re not sure about extras such as flight inconvenience insurance, guaranteed pricing and transit accident insurance or dubious about whether you want a credit card with a concierge service then you can try this card with relatively low risk. Discounted $99 annual fee in the first year – $129 thereafter. Bonus offer of 20,000 reward points when you spend $3,000 in the first 3 months. The IMB Platinum card offers platinum benefits alongside rewards points earning – 1 points per $1 spent, alongside extensive complimentary insurance and a platinum concierge service.
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Resident or citizen of Australia
Minimum income of $35,000 p.a.
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.
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