Credit card pricing changes: Increases to our credit card interest rates
From 4 July 2024, we’re making some changes to our credit card rates.
- The variable purchase interest rate on our Rewards and No Annual Fee credit cards will increase.
- The variable cash advance interest rate on all of our personal credit cards will increase.
The tables below illustrate the upcoming changes.
Variable interest rate on purchases increase
| Product name | From 4 July 2024 | Current |
|---|---|---|
| Amplify Signature | 20.99% p.a. | 19.49% p.a. |
| Amplify Platinum | 20.99% p.a. | 19.49% p.a. |
| No Annual Fee | 20.99% p.a. | 20.74% p.a. |
| Vertigo | No change | 13.99% p.a. |
Variable interest rate on cash advances increase
| From 4 July 2024 | Current | |
|---|---|---|
| All Personal Credit Cards | 21.99% p.a. | 21.49% p.a. |
Frequently asked questions
When will the change take effect?
These changes will take effect on 4 July 2024.
Will the changes still apply if my application was approved before 4 July 2024?
Yes, these changes are effective from 4 July 2024.
Will I be impacted if I have a Cash Balance?
Yes, the new variable cash advance interest rate applicable to your Cash Balance will take effect from 4 July 2024.
Will this impact my existing Balance Transfer arrangement?
The variable cash advance rate will apply to any unpaid balance transfer amount remaining at the end of the promotional period unless the amount is paid off earlier.
Will this affect my existing Plan&Pay arrangement?
These changes will not impact your existing Plan&Pay arrangement. When a Plan&Pay ends, any remaining balance will revert to the variable annual interest rate for your balance type or special offer rate as applicable.