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IMB Platinum Credit Card
IMB Platinum Credit Card

IMB Credit Cards

IMB Platinum Credit Card

Updated 26 November 2019

Points Earn Rate (per $1 spent)

1

point

Rewards

Rewards Program

Card Services Rewards

Bonus Points

20,000 pts

Spend $3,000 in first 3 months

0 points over 12 months spend

My monthly card spend

Pros and cons

  • 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

  • Purchase rate of 20.24% p.a.
  • Ongoing annual fee of $129

Creditcard.com.au review

Editor Review

IMB Platinum Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The IMB Platinum Rewards Mastercard

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.

What we love...

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.

What’s not so great...

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.

Why should you choose this card?

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.

Overall Rating

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.

User reviews

IMB Platinum Credit Card ( based on 2 Creditcard.com.au user reviews )

66% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 20.24% 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 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

Credit limits

Minimum credit limt $6,000

Maximum credit limit $30,000

Fees & repayments

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 and points

Rewards program

Rewards Program Card Services Rewards Card Services Rewards

Bonus points 20,000 points

Annual points cap uncapped

Bonus points spend criteria Spend $3,000 in first 3 months

Earning points with this card

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

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

Overview

IMB Platinum Credit Card

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.

Key features

  • 0% p.a. on balance transfers for 14 months
  • $129 annual fee for the card - Discounted to $99 first year
  • Earn 20,000 reward points when you spend $3,000 in the first 3 months.
  • Earn 1 reward points for every $1 spent on your card
  • Complimentary international travel and purchase cover insurance
  • Guaranteed pricing scheme
  • Up to 4 additional card holders for free

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

  • Minimum income of $35,000 p.a.

  • You have your personal details ready to complete the online application

Roland B Bleyer

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.

8 questions (showing the latest 10 Q&As)

Patricia

Patricia

18 August 2019
what are the fees and charges when using my credit card when overseas at a ATM or on any purchases?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    19 August 2019
    Hi Patricia, International Transaction Fee of 3.4% with this card so its pretty huge. Looks like they charge a massive 5% for cash advances overseas on top. This is in addition to any International Transaction Fee that may be payable. Have a look at the ANZ Rewards Travel Adventures Card. It has 0% foreign fees and $0 cash advance fees when overseas. Making it a much better travel partner.
david

david

20 August 2018
will I get Qantas frequent flyer points with this card i.e 1 qantas FF point per dollar spent?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 August 2018
    Hi David, you cannot transfer IMB Platinum reward points for Qantas Frequent Flyers. You can transfer to velocity (2.5 point to 1), Emirates (3 : 1), Singapore Airlines (2.5:1). These ratios are your IMB points to the respective airline program. If you want to earn Qantas points check out out https://www.creditcard.com.au/qantas-credit-cards/. Many cards come with bonus sign up points.
Carol

Carol

21 February 2018
Does the complimentary travel insurance cover a cruise which travels up the east coast of Australia?
Dianne Hummel

Dianne Hummel

23 January 2018
I would like information on how long it takes to get the platinum credit card, I am an existing customer. Also information on the International Travel Insurance, underwriter, amounts etc.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 January 2018
    Hi Dianne, typically it take 5-10 working days to process and receive your new credit card. It can be quicker but this will depend on a range of factors. Complimentary Insurance is issued and managed by AGA Assistance Australia Pty Limited (trading as Allianz Global Assistance) (AFSL No. 245631 ABN 52 097 227 177), 74 High Street, Toowong QLD 4066 on behalf of the insurer Allianz Australia Insurance Limited (AFSL No. 234708 ABN 15 000 122 850), 2 Market Street, Sydney NSW 2000, and is subject to Terms, Conditions, and exclusions, some limits and excess may apply. Check out this PDF that I found - https://www.cardservicesdirect.com.au/cardservices/pdf/Description_of_Card_Services_Insurance_Cover_Effective_1_May_2016.pdf
Helen Zeides

Helen Zeides

27 June 2017
I want to know that if I pay the balance of my holiday that equates to half the total cost, am I covered with travel insurance?
Denise jones

Denise jones

27 May 2017
Does my MasterCard cover travel insurance interstate ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 May 2017
    Hi Denise, this card does not come with domestic travel insurance. Though it does come with international travel insurance.
Lee-Anne

Lee-Anne

25 April 2017
What are the reward points? Are they Qantas points
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    26 April 2017
    Hi Lee-Anne, they are definitely not Qantas points that you earn. IMB cards are issued through Citi. I assume that the rewards program then would be similar to that of Citi cards.
John Gabriele

John Gabriele

26 January 2017
WHo is the insurer for IMB Platinum Mastercard TRavel Insurance?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 January 2017
    Hi John, IMB cards are issued through Citi. Therefore I assume that the insurer is Allianz

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