Show of inclusivity: St.George rainbow credit cards and ANZ GAYTMs unveiled before Mardi Gras

Tuesday 20 February 2018

Article by Tom Watson

In a show of inclusiveness before this weekend’s 2018 Mardi Gras in Sydney, the design teams at two Australian banks have been busy showing off their flair with the release of two rainbow credit cards from St.George and a host of ‘GAYTMs’ from ANZ. 

Show of inclusivity: St.George rainbow credit cards and ANZ GAYTMs unveiled before Mardi Gras

ANZ’s 2018 fleet of GAYTMs will be hard to miss - featuring a matrix of rainbow, light-reflecting prisms designed especially in celebration of the 40th anniversary of Mardi Gras.

Scattered across a number of locations in Sydney including Bondi, Newtown and the CBD, the bank also launched its first ever GAYTM in Melbourne’s Bourke St Mall earlier this week.

“We have a long and successful partnership with Sydney Gay and Lesbian Mardi Gras, spanning 12 years as a major sponsor and participant, becoming Principal Partner in 2014,” ANZ’s Managing Director for Business & Private Banking, Mark Hand, was quoted as saying by Business Insider

“The GAYTMs are one of the many ways we show our support for Mardi Gras, the LGBTI community and our diverse and inclusive workforce.”

RELATED: St.George reveals: LGBTQI Aussies are 28% less likely to be home owners

Westpac-owned, St.George Bank has also joined in on the pre-Mardi Gras festivities after unveiling two revamped ‘rainbow’ credit cards in celebration of Saturday’s parade - the Rainbow Vertigo and Rainbow Platinum Vertigo cards.

In order to shine a light on the financial health of LGBTQI Australians, St.George released a “first of its kind” LGBTQI Financial Wellbeing Report in November 2017 which revealed some “worrying” figures relating to financial well being.

The report found that 66% of LGBTQI Australians were worried about their financial future, while nearly three in ten (29%) had faced discrimination when dealing with an Australian financial institution.

Ross Miller, General Manager for St.George Bank, stated at the time that the bank was looking to press forward to ensure a financial playing field which was more level for the LGBTQI community in the future.

“Just like any family with diverse needs and financial challenges, LGBTQI Australians are no different, they need products and services that relate to them as individuals and their circumstances,” he said.

How do St.George’s rainbow credit cards compare? 

While you may be seriously tempted to find a place in your wallet for one of St. George’s rainbow designs, it’s worth having a look at the card features first to see whether either could be a good choice for you.

St.George Rainbow Vertigo

  • 13.24% purchase rate
  • 55 interest free days
  • No annual fee in the first year ($55 afterwards)
  • 0% balance transfer rate for 18 months (1% BT fee)

With a competitive interest rate, no annual fee for the first year and 55 interest free days, the Rainbow Vertigo card is a no frills option for cardholders looking to reduce their expenses. However, the lengthy 18 month balance transfer rate could also make it a useful option for anyone looking to pay off their credit card debt, though if you do choose to make use of the balance transfer you will be charged a 1% BT fee.

St.George Rainbow Platinum Vertigo

  • 12.74% purchase rate
  • $99 annual fee
  • 0% balance transfer rate for 24 months (1% BT fee)
  • Complimentary insurance perks

For a slightly higher annual fee, cardholders looking for a card with more perks can take advantage of the Rainbow Platinum Vertigo. Featuring a lower purchase rate and longer balance transfer offer, the card also comes with complimentary travel insurance, extended warranty and a concierge service among other perks.

Interested in showing your support for equality every time you go to pay with one of St.George’s rainbow cards? Make sure you apply by 18 April 2018 in order to grab a rainbow edition, or if you fancy comparing a range of other card offers head over to the Mozo credit card comparison hub today!

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