Supporting our customers by providing flexibility and cash flow management solutions during this uncertain time

At present, COVID-19 is creating a difficult situation for many Australians. We have a number of options available to help you manage your cash flow and create some breathing room during this uncertain and evolving time:

1. Reduce your repayments to the minimum amount

Did you know that you can reduce your monthly outgoings for a period of time if you need to, by only paying the Minimum Payment Due, as well as any Overdue Amount and any Overlimit Amount, by the Minimum Payment Due Date? You will accrue interest on the remainder of the Closing Balance, however you won’t be charged any late fees. This may be a tactic to help you to manage your cash flow during the month.

This information is relevant for your:

  • Credit Card

2. Set up an automatic payment so you don't miss your due date

There are a number of methods to avoid late fees on your account. You could set a recurring reminder in your phone or diary. Or you could set up a recurring payment to your account from your transaction account.

Alternatively, you could set up an Easi-Pay to automatically pay either your Closing Balance, or the Minimum Payment Due, plus any Overdue Amount and any Overlimit Amount, every month on the Minimum Payment Due Date from the bank account of your choice.

DOWNLOAD EASI-PAY FORM  UPLOAD COMPLETED FORM

This information is relevant for your:

  • Credit Card

3. Defer your repayments for 3 months

If your circumstances have changed due to COVID-19, we can help you by allowing you to defer your repayments for three months on your Credit Card account(s). We may give you the option to extend for a further three months at the end of your initial deferral period.

During the deferral period, you may make payments at any time without impacting your deferral program, but no payments are required, no late fees will be charged and your account will not be overdue, although you will continue to accrue interest on your outstanding balance. We will not report any missed payments to the credit bureau during the period of your payment deferral. You will be able to continue to spend on your card, provided you are up to date in your repayments at the point of applying for a deferral and you have available credit limit.

To apply, complete this simple online application form. In most circumstances, you will automatically qualify.

DEFER MY REPAYMENTS

This information is relevant for your:

  • Credit Card
Frequently asked questionsExpand all sections
My financial difficulties extend beyond COVID-19. What do I do?

If COVID-19 has impacted or exacerbated your situation, you are entitled to apply for the three month payment deferral for your Credit Card.

If you need more or different support, you can read about our Financial Hardship assistance here.

Can I claim on my Credit Card Insurance?

If you have been paying for Credit Card Insurance, you may be eligible to make a claim. Your credit card statement will indicate any current credit card insurance policies you hold. Any credit card insurance policy wouldn't preclude you from applying for payment deferrals or financial hardship assistance if you require it. More information is available within our FAQs.

Will I be able to continue using my card if I apply for the payment deferral program?

Provided you are up to date in your repayments at the point of applying for a deferral and you have an available credit limit, you will be able to continue to spend on your card during the payment deferral period.

However, please note that there will be a period of up to 48 hours during which your credit card will be suspended from usage while your payment deferral is put in place. This does not apply to debit cards. This may also mean you have recurring payments from your credit card rejected during this time.

Will my credit report be impacted by the payment deferral program?

We will not report any missed payments to the credit bureau during the period of your payment deferral.

How will my existing Instalment Plan (or "Fixed Payment Option") be affected by a payment deferral application?

Your Instalment Plan, or Fixed Payment Option (FPO), will effectively be paused for the duration of your approved payment deferral, meaning you will not be required to make any repayments.

Some more information you should know:

  • Any instalments that were due in the statement you receive prior to the commencement date of your deferral period, and which remain unpaid, will be added to your outstanding balance and interest will be charged at the applicable APR in accordance with your product Terms and Conditions. 
  • During the payment deferral period you will be charged interest at the applicable FPO rate on the outstanding principal component of your FPO balance.
  • This interest will appear on your first monthly statement after the deferral period ends, as a separate instalment plan with the same remaining term as your original FPO.
  • At the end of the payment deferral period, your monthly FPO payments will resume with the same number of remaining monthly instalments to be paid at the same amount. 
  • Please refer to your first statement after the payment deferral period for the new instalment amounts.

For more information about your Fixed Payment Option, please refer to the Terms and Conditions.