Suncorp

Suncorp’s purpose is to create a better today for all of our stakeholders; including customers, shareholders, people and communities. This means the group help people live the life they want now and plan for the life they want tomorrow. Suncorp offers Home and Motor Insurance, Banking, Life Insurance, Superannuation and more.

Suncorp credit cards

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Suncorp Clear Options Platinum Credit Card

Highlights

140,000 bonus Suncorp Credit Card Rewards Points for spending $4,500 on eligible transactions within the initial 90 days from approval.
Acquire 1.25 Suncorp Rewards Points per $1 spent on eligible transactions.
Platinum privileges encompassing concierge service and a variety of insurance covers.

Pros

Receive 140,000 bonus Suncorp Credit Card Rewards Points when you meet the criteria.
Earn 1 Suncorp Rewards point per $1 spent (or 0.5 Qantas Point).
A reduced fee of $99 p.a. in the first year and $129 p.a. thereafter.
$6,000 to $100,000 credit limits.
Complimentary insurance, including international travel insurance.
Access to the concierge service.

Cons

There is a 3.4% international transaction fee if you transact overseas.
A $40 over-limit fee for exceeding the credit limit.
Longer interest-free balance transfers are available.
Suncorp Rewards points don't convert to airline points at 1:1.

Suncorp Clear Options Gold Credit Card

Highlights

Earn 1 Suncorp Rewards point per $1 spent on eligible transactions, up to $1,500 per statement period; thereafter, 0.5 points per $1.
Redeem earned points for vouchers, cashback, or transfer to airline partners.
Add up to four additional cardholders at no extra cost.

Pros

Earn 1 Suncorp Rewards point per $1 spent on eligible transactions.
Choice of airline transfer partners makes finding a rewards seat on your preferred travel dates easier.
Comes with a complimentary purchase cover on personal purchases and a guaranteed pricing scheme.
Get up to 55 interest-free days on retail purchases.
Access exclusive pre-sales, offers, and competitions with Visa Entertainment.

Cons

No sign up bonus for new customers.
Suncorp Rewards points do not convert to frequent flyer points at 1:1.
The ongoing purchase rate is at 20.5% p.a.
$40 over-limit fee.
3.4% fee on international transactions.

Suncorp Clear Options Standard Credit Card

Highlights

The 12.74% p.a. ongoing interest rate applied to purchases is economical.
0% p.a. interest for up to 20 months on balance transfers, returning to the 21.99% p.a. cash advance rate.
$0 for the first year annual fee, $55 afterward.

Pros

Enjoy the first year with no annual fee, saving you $55.
Introductory interest-free balance transfers for 20 months.
Low ongoing purchase interest rate.
Add up to 4 additional cardholders for no extra cost.

Cons

There is a 1% Balance Transfer fee.
No interest-free days.
Doesn't earn rewards.
Expensive foreign currency transaction fee.

Suncorp Clear Options Business Credit Card

Highlights

Low annual ongoing fee of $45 p.a. Add up to 99 additional cardholders.
Choose to earn Suncorp Rewards points or Qantas Points on eligible purchases.
Up to 55 days interest-free on purchases.

Pros

Earn 1 Suncorp Rewards point per $1 on eligible business spending.
Convert Suncorp Rewards points to Flybuys points, KrisFlyer Miles, or Velocity Points.
Possible to earn Qantas Points instead of Suncorp Rewards points.
Minimum credit limit of $2,000.
Up to 99 additional cardholders, but at a cost.
A competitive annual fee of $45 p.a.
Free monthly statements for active cards.

Cons

No sign up bonus for new customers.
Membership fees apply to the rewards program.
Suncorp Rewards points don't convert to frequent flyer points at 1:1.
Annual fee per additional cardholder, which can add up quickly.
Overseas and international transactions carry a fee of 3.40%.
$40 over limit fees.

Suncorp savings account

Suncorp Growth Saver

Highlights

Earn up to 4.60% p.a. you grow your net balance by $200 or more and made no withdrawals on your account.
No monthly account-keeping fee so your money remains your money.
Manage your money safely and easily with Suncorp's award-winning app.

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Q&As

Why should I consider banking with Suncorp?

The big bank from Queensland, Suncorp offer an attractive range of credit cards including the Suncorp Gold and Suncorp Platinum, both of which are loaded with great perks and benefits. Signup for a credit card with Suncorp and you’ll be in good company, with over 1,000,000 customers across Australia who trust them for their financial needs.

What is Suncorp's history?

Suncorp Bank is part of Suncorp Group, Australia’s largest general insurance group and one of the country’s largest banks. The group was formed in 1996 when Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC) merged into the Suncorp Metway group.

Suncorp was established in 1916 in Brisbane, Queensland, as the State Accident Insurance Office, later called the State Government Insurance Office. SGIO became a major insurance operation, offering life and general insurance, and compulsory third party insurance, and later expanded to provide superannuation, building society and other finance services. At the time of the 1996 merger, Suncorp was entirely owned by Queensland Government, with $10 billion in assets.

Metway Bank opened in 1959 as the Metropolitan Permanent Building Society, converting to bank status in 1988. By 1996, Metway was the largest locally based bank in the region, also operating in Victoria and New South Wales, with assets of $7.1 billion. The other component of the merger, QIDC, developed from the Queensland Agricultural Bank, which opened in 1902. The bank initially specialised in rural finances, but later expanded to commercial lending to small and medium sized businesses.

The 1996 merger was an initiative of Queensland State Government, with the intention of creating a financial institution equipped to compete on the broader Australian market, and resulted in the fifth largest listed financial services group in the country. In 2002, the group shortened its name to Suncorp, to cover all the group’s operations in Queensland, across Australia and beyond. In 2007, it merged with Promina Group, and further diversified its insurance and financial services across Australia and New Zealand.

Currently, Suncorp is Australia’s largest general insurance group by gross written premium and the country’s fifth largest bank. Its services and products include personal, commercial, employee compensation and compulsory third-party insurance; everyday personal banking, saving and home loans; business accounts and business credit cards, as well as specialist agribusiness banking for farmers.