Put nicely, the Suncorp Clear Options Plus credit card is fairly run of the mill.

With an annual fee of it’s not too expensive, but when you combine it with a purchase rate p.a. and a cash advance rate p.a. you struggle to see where the benefits are.

After further investigation however, it was found that balance transfers are available at a low rate p.a. for the first 15 months. After this time it reverts to the cash advance rate p.a.

The confusion doesn’t end there though. The Clear Options Plus credit card has an element of mystery about it. But as we all know, when it comes to your finances this is NOT a good thing. When trying to determine exactly why anyone would want to get Suncorp’s Clear Options Plus credit card we found that many things were hidden from clear view.

According to the Suncorp website ‘terms and conditions, fees and charges apply’, but the information that was available was pretty vague, so you’ll probably find yourself needing more information than what is actually available. This was also the case for Suncorp’s rewards program.

We found that you could earn 1 point for every dollar spent with the Clear Options Plus credit card and that these points don’t expire. Suncorp Take Flight cash back rebates, gift certificates, vouchers and merchandise are also available, but unfortunately that is about the extent of the information available.

Other information that was available was that the card has up to 55 days interest free, purchase protection insurance of up to $50,000 and a minimum income requirement of at least $20,000 per year

A really good rewards program could be the saving grace for this credit card, but with the struggle to get any decent information, it’s pretty hard to tell either way. We think that maybe the Suncorp CLEAR Options Plus credit card was named by someone who knew about as much about this card as you or I. Overall, it’s a relatively inoffensive credit card in terms of its rates and fees, but most definitely nothing to write home about.

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

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