Card Promotions Suncorp clear options platinum - 100k suncorp points (~75k flybuys) - no annual fee in 1st year

[TripleB]

Platinum Credit Card Offer – Suncorp Bank

1. $3k spend within 90 days of approval.
2. No annual fee in the first year
3. Credit limit: $6k-$30k
4. 1.25 suncorp points per $ spend

Suncorp points convert:

• 3:1 for Emirates
• 2.5:1 for Singapore
• 1.33:1 for flybuys (which means it is roughly 2.66:1 for Velocity if you hit a 15% bonus transfer promo otherwise ~2.8:1 on regular transfer rates)
• That's it - no Qantas

https://www.suncorpbankrewards.com.au//tygr-web/partnerProgramsListing.htm?cmp=nav&lid=body|travel-mod|start-pointstransfer

Ok, so this is not the world's best deal and it is not for everyone ... but it might be good for a quick churn. There is no annual fee and as Suncorp is not a usual churn suspect so it might be good if you are waiting for the 12/18 month exclusion periods at other card providers to roll around again. $6k minimum credit limit helps for parallel churns too.

If you don't do EK or SQ remember that flybuys are quazi cash - you can redeem 2000 points for $10 off at the register at Coles. If you use the flybuys at Coles the signup is worth $375 (although it requires 37 separate transactions of no less than $10 each to use it that way)*. The ongoing earn rates are pretty miserable - so I think that this one is only interesting for a quick churn if you are short on other options. In the low travel world if you are sitting on decent points balances the cash might not be the worst idea. You can always convert them to flybuys and see how things pan out with Velocity (I'm tipping that they will pan out badly but you never know).

Hope this is useful to someone.


* If you live in NSW there is a (coughbersome) way to convert them to cash by topping up your Opal card up in separate $10 transactions at Coles then applying for a cancellation of your Opal and refund through TfNSW.



Edit: You can redeem the points for Coles/Woolworths gift cards. A $100 voucher is 20900 points. This is better value than $ off at the register with flybuys (although you lose the Velocity optionaility).

Edit 2.0: I was just in the process of applying and noticed this bombshell ...

Citigroup Pty Limited ABN 88 004 325 080, Australian credit license 238098 ("Citigroup") is the credit provider and issuer of Suncorp Clear Options Credit Cards. Suncorp-Metway Ltd ABN 66 010 831 722, Australian credit license 229882, ("Suncorp Bank") promotes and distributes Suncorp Clear Options Credit Cards on Citigroup's behalf under an agreement with Citigroup.​

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Citigroup = no thanks.​

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[Scr77]

Just be aware that this is Citibank issued and the normal Citibank hell will ensue!

 

[TripleB]

Scr77 - good call. Spotted that bombshell when applying just now. No way that I'm dealing with Citi again.

 

[AIRwin]

According to the fine print - This offer is only available to Suncorp Group customers who received a personalised customer e-newsletter issued June-August 2020.

 

[GSP]

If you use the flybuys at Coles the signup is worth $375 (although it requires 37 separate transactions of no less than $10 each to use it that way)*.

Why would that be? Wouldn't you just convert all the points to Flybuys giving you a large Flybuys balance, then in Flybuys you convert the whole lot to a largish cash balance? Am I missing something?

 

[TripleB]

I had understood that you can only use 2000 points for $10 off per transaction at Coles. You cant for example use 20000 points for $100 off a single transaction.

 

[GSP]

I had understood that you can only use 2000 points for $10 off per transaction at Coles. You cant for example use 20000 points for $100 off a single transaction.

But if you have 20000 FB points and convert to $100 on your account, you can use that $100 in one or as many goes as you like (even combining with other forms of payment).

 

[Chicken]

https://www.suncorpbankrewards.com.au//tygr-web/partnerProgramsListing.htm?cmp=nav&lid=body|travel-mod|start-pointstransfer

The link does not work?

I had understood that you can only use 2000 points for $10 off per transaction at Coles. You cant for example use 20000 points for $100 off a single transaction.

This is not true.

I convert Fly Buys points into Fly Buys Dollars (I don't have VA), and you are allowed to convert as many points as you want, in multiples of 2000 points. Fly Buys Dollars then become credits on your magnetic Fly Buys cards. You go to Coles / Kmart / Target / Coles Express, simply swipe your magnetic FlyBuys card, and key in a 4 digit PIN, and use it like a gift card.

Just be aware that this is Citibank issued and the normal Citibank hell will ensue!

Suncorp has been using Citi to provide their branded credit cards for 10+ years.

However, unlike other (white) labelled products, Suncorp actually handles Suncorp credit card enquiries themselves, not Citi. If you need to talk to someone about your Suncorp credit card issued by Citi, you talk to a Suncorp staff in Queensland, not a Citi staff in India.

I know because I had a home loan with Suncorp before, and was giving this card for free. I am also still a Suncorp customer after all these years (although I have since moved my home loans away from Suncorp, and now actually with Citi).

 

[GSP]

The link does not work?



This is not true.

I convert Fly Buys points into Fly Buys Dollars (I don't have VA), and you are allowed to convert as many points as you want, in multiples of 2000 points. Fly Buys Dollars then become credits on your magnetic Fly Buys cards. You go to Coles / Kmart / Target / Coles Express, simply swipe your magnetic FlyBuys card, and key in a 4 digit PIN, and use it like a gift card.



Suncorp has been using Citi to provide their branded credit cards for 10+ years.

However, unlike other (white) labelled products, Suncorp actually handles Suncorp credit card enquiries themselves, not Citi. If you need to talk to someone about your Suncorp credit card issued by Citi, you talk to a Suncorp staff in Queensland, not a Citi staff in India.

I know because I had a home loan with Suncorp before, and was giving this card for free. I am also still a Suncorp customer after all these years (although I have since moved my home loans away from Suncorp, and now actually with Citi).

Are you suggesting the Suncorp does the credit assessment rather than Citi?

 

[Chicken]

Are you suggesting the Suncorp does the credit assessment rather than Citi?

No, and that's not true, because Suncorp web site does state that "Citigroup, not Suncorp Bank, will be assessing your application."

I wrote in my last post:

Suncorp actually handles Suncorp credit card enquiries themselves, not Citi.

So Citi does the assessment, but you never talk to any Citi staff when you hold this card, you only talk to Suncorp staffs in Brisbane. This means you don't have to deal with the coughpy customer service from Citi, you get straight talking staffs from Suncorp. That's what I like about Suncorp, their staffs are very up front, they would rather be honest and tell you what you don't want to hear, than talking rubbish or trying to sweet talk you then disappoint you later.

 

[Scr77]

The problem is, you still have to deal with Citibank to get the approval sorted.

 

[Chicken]

The problem is, you still have to deal with Citibank to get the approval sorted.

Not 100% sure about that, as I got the card during home loan approval, but even the credit limit and application etc were discussed and done by Suncorp staffs, not Citi.

To further show how different this product is, unlike other Citi white label products where you use the web site of Card Services to access your account, you need to access your card from within Suncorp internet banking. I would suspect that any problem with your application would be handled by Suncorp staffs.

 

[coolstepslg]

citi issue the card but suncorp handle the phone calls and management of the account. I was given the option to reduce my large suncorp card limit by citibank credit cards dept and increase my CB platinum card limit so i could do an upgrade to the signature card about 1 year ago . dont know if they are still doing this and will allow me to do now. CB call centre is cough compared to suncorps. But agree citibank service is terrible and you wont be approved if you made another citibank card issued application in the past 9 months. i get fees waived as part of the home loan but im just waiting for the family or no annual fee for life promos to be offered again so i can covert cards over to a no annual fee status and then shop around for another home loan.

 

[yojohnny]

If you were going to use it for Flybuys, wouldn't you be better off using it for a $500 Coles card which is 104,200 points. You'd rack up the 4,200 with your $3k spend + a small amount more.

Am I missing something?

 

[yojohnny]

Per the comments.. it was a nightmare through Citibank! :|

 

[coolstepslg]

Fyi I was able to transfer a large portion of credit limit from suncorp over to citibank despite phone rep telling me its not possible but I think they did another credit check as I got email asking for docs .status says booked so I'm going to ignore email for now and see if the upgrade to premier occurs