CUA Platinum Credit Card

19.99% p.a.

0% p.a. for 13 months and then 21.74% p.a.

$149 $0 in the first year

19.99% p.a.

0% p.a. for 13 months and then 21.74% p.a.

$149 $0 in the first year

CUA Platinum Credit Card Review

Review published: 25 January 2018

What's hot:

  • $0 annual fee in the first year ($149 onwards)

  • 1 point per $1 spent

  • Concierge service and purchase protection insurance

What's not:

  • 3.4% foreign exchange margin

Mozo snapshot:

The CUA Platinum Credit Card comes with a number of perks, which are especially relevant to travellers, including concierge, travel insurance and purchase protection insurance. As far as base features go, the low annual fee of $149, which is waved in the first year and 19.99% purchase rate  are solid card features. It’s just the relatively high 3.4% foreign exchange margin that travellers need to be wary of.

Key features:

Who doesn't like being rewarded? If you’re interested in earning extra rewards from spending on your credit card, then the CUA Platinum Credit Card is worth a look.

The CUA Rich Life Rewards program gives you access to cashback rewards and flight rewards, the flights will need to be redeemed through their online service. You’ll earn 1 point per dollar spent on the card but keep in mind your point earning is capped at 100,000 points per year.

Plus if you choose the CUA Platinum Credit Card Brisbane Heat Offer you’ll score 25,000 bonus points if you spend $1,500 in the first 3 months.

The 24 hour concierge service also helps you organise everything from event tickets, flights, locksmiths and so much more. So if you’re travelling and what help planning and booking some of your days and nights, then this service may make your travel experience all that more fluid.

The card also comes with $15,000 worth of travel insurance, which extends to $30,000 if your with your spouse or dependents.

The CUA Platinum Credit Card provides you with automatic purchase protection insurance. So an item under $1,000 you lose, accidentally damage or have stolen could possibly be refunded in full, so you can have that extra peace of mind on your purchases.

While the CUA Platinum Credit Card comes with a pretty low annual fee of $149, this will be $0 in the first, saving you that little bit extra when you first sign up.

If you’re thinking about transferring any other accounts onto this card, then you’ll pleased to hear for the first 13 months the CUA Platinum Credit Card has a 0% balance transfer rate, with 21.74% revert rate.

The card also allows for up to 9 additional card holders all for free, which is great for those intending to share it with their family or close relations.

Who it's good for:

The travel based perks make the CUA Platinum Credit Card a great option for globetrotters. Between the concierge service and the complimentary travel insurance, you’ll want to pack this one whenever you travel.

Any catches?

While the perks of the card are great for travellers, the relatively high 3.4% foreign exchange margin certainly makes spending large amounts of money overseas less appealing.

Also the card caps points earning at 100,000 points per year, meaning you won’t be able to rack up too many of those cashback or flights rewards every year.

The Mozo community has not yet rated CUA for this credit card.

Currently showing

Revealing rewards

How do we do it?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,
  • figure out how many flights or gift cards or cashback credits you could get for those points,
  • work out what that's actually worth to you,
  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.
  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.
  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.
  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.
  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.
  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.
  • Shopping rewards are based on $100 gift cards from a major national department store.
  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Rewards scheme

  • Redeem your points for cashback, retail rewards, shopping gift cards and travel.

Privileges

  • Concierge
  • Travel Insurance
  • Purchase Protection

Value of rewards points

  • Need to spend $33,400 (Mastercard)

  • Need to spend $25,000 (Mastercard)

  • at 100,000 points yearly

  • Never

Details behind our 'value of rewards' calculations

  • 1 point per dollar on Mastercard, up to 100000 points per year

  • 33400 points buys a $100 credit

  • 25000 points buys a Myer $100 Gift Card

* How did we do it? Find out...

Rates

  • 19.99% p.a.

  • none

  • 0% p.a. for 13 months and then 21.74% p.a.

  • yes

  • 21.74% p.a.

  • 55

Fees

  • $149.00

  • $0 in the first 1 year

  • none

  • none

  • $12.50

  • 2.00%, Min $3.50

  • 3.40%

  • $0.00

  • $20.00

  • $0.00

Other financial bits

  • $35.00

  • 3.0

Features

  • 9

  • none

  • none

Rewards scheme

  • Redeem your points for cashback, retail rewards, shopping gift cards and travel.

Privileges

  • Concierge
  • Travel Insurance
  • Purchase Protection

Special offers

  • Earn 25,000 bonus points when you spend $1,500 in the first 3 months

Value of rewards points

  • Need to spend $33,400 (Mastercard)

  • Need to spend $25,000 (Mastercard)

  • at 100,000 points yearly

  • Never

Details behind our 'value of rewards' calculations

  • 1 point per dollar on Mastercard, up to 100000 points per year

  • 33400 points buys a $100 credit

  • 25000 points buys a Myer $100 Gift Card

* How did we do it? Find out...

Rates

  • 19.99% p.a.

  • none

  • 0% p.a. for 13 months and then 21.74% p.a.

  • yes

  • 21.74% p.a.

  • 55

Fees

  • $149.00

  • $0 in the first 1 year

  • none

  • none

  • $12.50

  • 2.00%, Min $3.50

  • 3.40%

  • $0.00

  • $20.00

  • $0.00

Other financial bits

  • $35.00

  • 3.0

Features

  • 9

  • none

  • none

About CUA

CUA is Australia?s largest credit union and an alternative to the big banks, offering financial, health and insurance solutions to ?over 500,000 Aussies. As a mutual, it?s run by members for members, and reinvests in making its service better for customers and supporting local communities. CUA is committed to helping members through life?s big changes, so if you want to make a change for the better, check out CUA's range of home loans, personal loans, credit cards, savings accounts and more.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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