As expected, the Clear Options Gold credit card continues Suncorp’s trend of expensive and vaguely described credit cards. With the majority of the features that Suncorp offer there are footnotes that apply. The problem is that the footnotes don’t clarify a whole lot for potential Suncorp customers.

The complimentary rewards program is subject to terms and conditions that aren’t readily accessible, excess for purchase protection claims is unknown, and the details of the other insurance covers aren’t explained so you can’t even compare it to other cards to see if you’re getting a good deal or not.

Now for the stats.

Strangely, the Gold card has a slightly lower interest rate than the Clear Options Plus credit card, at p.a. on purchases and  p.a. on cash advances. This might seem like an advantage at first, however, the annual fee means you’d end up using what savings you did make to pay your annual fee anyway.

The balance transfer rate is the same as the rest of Suncorp’s credit cards at p.a. for 15 months. After the first 15 months it reverts to the cash advance rate p.a. so while this is good, if you have a lot of credit card debt that is going to take you longer than year to pay off then there are definitely other options that are going to be more worth-while for you.

Because it is a premium card you get extra benefits that are unavailable on other lower level cards such as international travel insurance, transit accident insurance, purchase protection, as well as the option of cash back or converting your reward points to Qantas frequent flyer points. This is at a cost (Qantas Frequent Flyers joining fee) which must be paid each year.

With high interest rates, a high annual fee and so much uncertainty about the terms and conditions of the credit card, the decision as to whether or not this card has its merits is hard to say. But when it comes to dealing with money, we would say that the initial confusion is enough to make us look elsewhere for a credit card.

See our top credit card picks in the Editor’s Choice category

It seems that Suncorp has tried a little harder to give potential customers what they want by offering the Clear Options Platinum credit card, but not hard enough.

There are of course the usual problems that have been encountered with Suncorp credit cards where terms and conditions are unable to be found, so again, it’s hard to compare. However it can be said that the annual fee and interest rate for  cash advances  and  for purchases are at the higher end of the scale for platinum credit cards.

What is strange with this card is that the credit limit, it’s dependent on a minimum income, and is only higher than that of the Gold card. Usually paying over $100 more than its subordinate card in annual fees would get you a higher credit limit than this.

All the standard international travel benefits are included (travel insurance, purchase protection and transit accident insurance), with the addition of the personal concierge service and extended warranty on products bought with your Clear Options Platinum credit card.

Interest sits for purchases and for cash advances and balance transfers are extremely affordable p.a. for 15 months. There is also up to 55 days on purchases, personalized rewards (how it is personalized is yet another Suncorp secret) and the option of earning Qantas frequent flyer points. These points can be earned at a rate of 1 point for every $1 spent which is an improvement on the gold card’s 2 points for every $3 spent.

The additions available on the Suncorp Clear Options Platinum credit card over the gold credit card are an improvement, but are just not enough to create a recommendation for this card over the rest of the platinum credit card market.

See our top credit card picks in the Editor’s Choice category

The GM Holden MasterCard is quite obviously an extremely targeted credit card, with its focus being on those who intend on buying a new Holden, Hummer or Saab.

Looking at the interest rate of this card you might be put off relatively quickly, but if you are one of these people that Westpac are aiming at, then it might pay to check it out. When you use your Westpac GM Holden MasterCard to make purchases, 10% of every dollar you spend will go towards a brand new Holden Hummer or Saab.

So for every $10 you spend, $1 will go towards a rebate for your car (or better yet, $10 out of every $100 spent. That sounds a bit better doesn’t it?). There are limits to the amount of money you can accumulate for a rebate and this is dependent on which model you choose to buy. For example, the maximum rebate amount for a Holden Barina is $500, as opposed to the maximum amount for a Hummer is $3000 (which is all relative to the overall price).

As a little bit of extra rebate goodness, if you’re buying a Holden you can also earn a 2% bonus rebate when you use your card at selected GM Holden Dealers. And yes, this is on top of the best price you can swindle out of the car dealer.

The annual fee for this credit card is at the lower end of the scale, and is pretty well priced considering the rebates available. It has up to 55 days interest free and balance transfers are offered at the standard Westpac rate p.a. for the first 6 months. After this period the rate increases p.a.

The bottom line on this card is that yes, it is good option if you are looking to buy one of the cars available for rebates, however is most valuable if you are buying a bigger, more expensive car as the savings are more significant in relation to your car’s overall price and the potential interest that can accumulate on the purchases you make. Just make sure you pay your monthly balance in full otherwise your rebates will just go towards paying off your accumulating interest.

See our top credit card picks in the Editor’s Choice category