Australia Mastercard

By: EconomyWatch   Date: 6 October 2010

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EconomyWatch

The core Content Team our economy, industry, investing and personal finance reference articles.

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The Aussie MasterCard is a low interest rate credit card that is accepted in over 28 million establishmentsworldwide. MasterCard Australia is among the most affordable cards in Australia.

Aussie Home Loans was founded by John Symond in 1992, which initially dealt only with the property market. However, it eventually expanded by offering other personalized services, including the Aussie MasterCard.

 

Aussie MasterCard: Features and Benefits

The Aussie MasterCard comes with a wide range of features and benefits, such as:

  • Low annual interest rate of 9.99% on all purchases for the initial 12 months.

 

  • Subsequent interest rate of only 11.99% annually.

 

  • Credit limit of $15,000.

 

  • Only 17.99% per annum on cash advances.

  • 55 days interest free credit period on all purchases.

  • Facility to use the card to repay home loans.

  • Low balance transfer rate of 5.99% per annum for the initial six months.

  • Competitive annual account fee of $49.

  • Available to non-citizens of Australians.

  • Additional Cards: Up to three add-on cards at a low rate of $10 per card per annum.

  • Cash advancing facility.

In addition, the Aussie MasterCard also offers Internet banking, phone banking, credit cover and secure sentinel services.

 

Restrictions on MasterCard Australia

The Aussie MasterCard entails the following restrictions:

  • A person should be over 18 years to apply for this card.

  • A person should have a sound credit rating.

  • An Australian resident should earn at least $15,000 and a non-resident should earn at least $50,000 to acquire this card.

  • It does not offer reward programs, such as cash back or points.

 

Aussie MasterCard: How to Apply?

A person fulfilling the minimum requirements can apply for this card online. The online application takes approximately 20 minutes and a response is given by the card issuer within 60 seconds. The applicant needs to furnish information, such as employerdetails or accountant’s details along with the statements of assets, liabilities and income.

The Aussie credit card is best-suited for people who prefer to make down-payments instead of paying their dues in one settlement. It is also perfect for those who have other financial obligations, loans or income constraints.

‘MasterCard’ is a trademark of the MasterCard Company, who can be found at www.mastercard.com


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