Do I still get an interest free period on other purchases I have made on my card when I take up my Great Rate option?
Last updated 02 February 2015
A Great Rate purchase is when we agree to apply a special interest rate to a purchase of $1,000 or more for up to 3 months.
Interest on a Great Rate balance is charged from the date it is enrolled to the end of that statement period, then for an additional three full statement periods, at 0.99% p.a. unless repaid prior. At the end of the Great Rate period, the outstanding Great Rate balance (including any related interest) is treated as a purchase (with no interest free period).
Your interest free period will still apply to other purchases provided that you pay the full statement balance (excluding your Great Rate purchase) by the due date and have paid the full balance for the previous month (excluding any Great Rate purchase).
To apply a Great Rate purchase, call 13 2221 24 hours a day, 7 days a week, within 14 days of the purchase date.
Special Conditions relating to Great Rate Purchases:
• Great Rate applications are subject to approval, and if approved, the Great Rate will appear on your next statement
• You must apply to for a purchase to be transferred to a Great Rate within 14 days of the transaction
• Additional cardholders can apply for Great Rate purchases
• You can only have one Great Rate purchase at a time
• At the end of the Great Rate period, the outstanding balance of a Great Rate transfer (including any related interest) is treated as a purchase with no interest free period
• To keep the benefit of the interest free period on other purchases, you must pay off your Great Rate in full by the end of the Great Rate period.