You can lock in a lower fixed rate on your credit card and repay in fixed monthly instalments over a set term.
Take advantage of an instalment plan in three ways:
Convert from $500 up to your available credit into cash. Enjoy the things you want now.
Pay off $500 or more of retail purchases included in the closing balance on your statement.
Pay off a purchase of $50 or more before it appears on your statement in monthly instalments.
To find out whether there is a Cash Instalment Plan or Transaction Instalment Plan offer currently available to you as well as the available interest rate, sign in to Card Services Online and go to: Offers > Credit Card.
To find out whether a Statement Instalment Plan offer is currently available to you call us on 1800 113 2411800 113 241.
You can access a lower rate than your standard Annual Percentage Rate on your credit card.
As you repay the amount, your credit becomes available again to use for your next big purchase.
With fixed monthly instalments, you’ll always know upfront exactly how much you’ll pay each month for the amount requested.
You can choose to pay the Instalment Plan amount off earlier without early repayment fees. There are also no monthly or annual service fees.
You can still enjoy interest free days on your other purchases made outside the Instalment Plan when you continue to pay your closing balance off in full for each statement period less any Instalment Plan outstanding.
You can check your Instalment Plan offers anytime by logging into your Card Services Online account at
cardservicesdirect.com.au then go to: Offers > Credit Card.
To set up a Statement Instalment Plan
call us on 1800 113 2411800 113 241†
†8am to 8pm Monday to Friday, Sydney local time
An additional section is added to your statement called Fixed Payment Option Summary, which will outline the details of your
Instalment Plan(s) including your Monthly Instalment amount.
A. Instalment Plans are only available to existing Card Services credit cardholders and is subject to eligibility criteria. To find out whether there is an Instalment Plan offer currently available to you, sign in to Card Services Online at cardservicesdirect.com.au and go to: Offers > Credit Card or Call 1800 113 2411800 113 241. If there is no Instalment Plan offer available to you, you cannot set one up at that point in time.
A. There are multiple benefits associated with having an Instalment Plan. This includes enjoying a lower interest rate, as well as taking advantage of budget certainty with the ability to make fixed monthly instalment payments over a longer period of time.
A. An Instalment Plan uses your existing credit limit. As you pay off your Instalment Plan amount/s, the amount/s you pay off will become available for you to use again as part of your available credit limit and will be subject to the standard Annual Percentage Rates applicable on your account.
A. The interest free period applies when you pay your full closing balance from your last statement of account by the Payment Due Date (excluding any Instalment Plan balance which isn’t due for payment by that Payment Due Date). No interest free period is available on cash advances or balance transfers. Whilst you have a balance transfer you will be charged interest on your daily unpaid balance.
A. To set up a plan, sign in to Card Services Online at cardservicesdirect.com.au and go to: Offers > Credit Card or Call 1800 113 2411800 113 241.
A. You can register for Card Services Online by clicking 'REGISTER' at cardservicesdirect.com.au and then follow the steps.
From here, you proceed to Offers > Credit Card to apply for a Cash or Transaction Instalment Plan, provided the offer is available in your account. For a Statement Instalment Plan offer call us on 1800 113 2411800 113 241.
A. An additional section is added to your statement called 'Fixed Payment Option Summary' which will outline the details of your Instalment Plan(s). This includes the date of set up, monthly instalment amount, as well as chosen payment term.
A. You will see a summary of your Instalment Plan on the next monthly statement received after you have set up an Instalment Plan.
A. Yes, the Minimum Payment Due amount includes your monthly instalment amount.
A. If you wish to make an additional payment towards your Instalment Plan, please make sure you contact us BEFORE making the payment by calling the Customer Care Team on 1300 135 5381300 135 538 (or +61 2 8225 0620+61 2 8225 0620 if you're calling from overseas).
A. Yes. To do this you will need to pay it off fully. This can be done at any time and does not involve any early repayment fees. If you wish to make an additional payment towards your Instalment Plan, please make sure you contact us BEFORE making the payment by calling the Customer Care Team on 1300 135 5381300 135 538 (or +61 2 8225 0620+61 2 8225 0620 if you're calling from overseas).
A. Yes, you can change it to a shorter term if you wish, however this will increase your monthly instalment repayment amount. To do this you will need to call our Customer Care Team on 1300 135 5381300 135 538.
A. Yes. You can have more than one Instalment Plan as per the eligibility status of your account.
*An instalment plan (also called a Fixed Payment Option or FPO) is a plan under which a particular balance is paid off in instalments. Fixed Payment Option offers are subject to eligibility and only available if your account is and remains in good standing (for example your account is not in default, suspended or closed). Your Fixed Payment Option uses part of your existing credit limit. As you pay off your Fixed Payment Option, the amount you pay off will become available for you to use again as part of your credit limit at the standard Annual Percentage Rate applicable to your account.
Interest will be charged on the Fixed Payment Option from when it is set up until it is cancelled or repaid in full. During the cycle in which a Fixed Payment Option is set up, you will be charged an initial interest charge which will be included in the Minimum Payment Due on your next statement. Subsequent statements will include an instalment for each month of the term.
While you have a Fixed Payment Option, payments will be applied to your initial interest charge or monthly instalment before all other balances, even if they attract a higher rate of interest.
~If you miss a monthly payment, interest at the retail Annual Percentage Rate (APR) will be charged on any unpaid instalment or initial interest charge. We may also cancel your Fixed Payment Option. If your Fixed Payment Option is cancelled, the outstanding balance of your Fixed Payment Option will revert to the retail APR for a transaction instalment plan and statement instalment plan and the cash advance APR for a cash instalment plan.
For the full terms and conditions that apply to Fixed Payment Options, please refer to the Credit Card Terms and Conditions and Other Important Information.