St.George Platinum Visa Card

Credit Limit Drama – I like to do my research, so after reading up on a few options I decided to apply for a St George Platinum Visa. The purpose of this was to move our $15,000 credit card balance from another Bank. Pros: no balance transfer fee, 0% balance transfer, 1% on purchases, decent variable purchase rate on reversion. After putting through an online… Read more

application with my wife and I as joint applicants, we received an approval straight away. However, despite our combined incomes being circa $200k, strong net assets position and pretty clear credit history we were only approved for $9,000 credit limit (we had applied for $15,000).

I queried this with their Verifications Team/Credit Card Helpdesk thinking I may have made a mistake on the application form. The response I got was bizarre. Essentially despite having a strong application, the reduced credit limit was provided because “we were new customers and did not have a history with the bank”. I may be missing the point here but aren’t promotions like this meant to attract new customers ? But if new customers can't expect to get what they need out of this sort of promotion, why doesn’t St George just offer these internally to existing customers and not waste my and I assume many other people's time ?

I am yet to receive the credit card in the mail. I inquired whether there would still be a note on our credit history for this application if we decided to withdraw from this process .

The answer was Yes – I find this infuriating.

Watch out – I applied for this card with a 0% on balance transfers to consolidate on loans of about $4000 and to use while overseas. Despite making payments on the majority of purchases to minimise the amount of interest charged I eventually noticed a substantial interest amount being charged each month. When I investigated my statements I realised that the… Read more

payments I was making were being taken from the balance transfer amount rather than the purchases. When i queried this I was given some enormous convoluted explanation along the lines of " the date of the monthly statement and when you are making payments is in between the issuing time and balance due date and if you made payments on one date rather than another date?????.... blahblahblah". Just all seems a bit suspect!!!??? Fortunately there are plenty of other 0% offers at other institutions and I will keep a very careful eye on how interest and payments are allocated

Excellent – Overall the card is great you get instant rewards from St george and platinum service. The free insurance is great and also the best price guarantee, and low yearly fee ($89). Its the best credit card ive had and also the card looks flashy. Best value platinum card around, Free extended warranty which is great value, good intrest rate (14.25)compared to other platinum cards.

Excellent – Overall the card is great you get instant rewards, free extended warranty and visa platinum service. The free insurance and the best price guarantee is also great. But there will be an excess fee if you lodge a claim. Lowest yearly fee among the platinum car provider. Its the best credit card and also improve you personal status. Best value card in the market