SurePay instalment plans. Digest acquisitions or balance

Assume control of your charge card repayments and break a credit card purchase down or stability into fixed month-to-month instalments over a collection term.

Qualities & advantages

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Break up a purchase or your charge card stability. You select the total amount you’d love to pay back on the basis of the term and simply how much it is possible to pay for every month.

Versatile access

We realize that your particular circumstances can alter. Anytime, you are able to cancel or spend off your plan early.

Freedom to own plans that are multiple

It’s possible to have around 10 active plans at any given time, for each credit card that is eligible. No additional credit checks are needed.

How SurePay works

Select from 3 forms of plans

  • Card purchase: to repay a purchase that is one-off of100 or maybe more, built in the final fourteen days. These include yearly insurances or resources, house stuff like furniture and white products, electronic devices or expenses that are unexpected.
  • Card stability: to repay all or element of your card balance of $600 or higher within a group time. Excludes payday loans, transfers of balance and existing instalment plan balances.
  • Money advance balance: to repay all or section of your cash advance stability of $600 or maybe more within a collection time. Cash loan deals consist of ATM withdrawals and deals considered equivalent to cash e.g. traveller’s cheques.
  • Pick your balance or purchase

    You’ll need certainly to select a qualified purchase or stability to put a plan on.

    Pick your instalment that is monthly payment

    Begin your payments that are monthly

    Every detail of one’s plan as well as your month-to-month instalment quantity and date that is due would be shown in your next month-to-month declaration once you put up a strategy. This includes your brand-new payment choices and a listing of your plan progress. It is possible to monitor your progress any right amount of time in NetBank or perhaps the CommBank software.

    You’ll be expected to produce your SurePay monthly instalment payment/s on your regular declaration due date every month.

    Missed payments and plans that are cancelled

    In the event that you skip a month-to-month instalment payment your plan won’t be terminated. Any unpaid instalment quantity for the month will soon be transmitted back again to the purchase balance (or cash loan stability for cash loan plans) and charged in the standard purchase (or cash loan) price. In the event that you cancel a strategy this may also connect with any outstanding balance.

    Remember: once you put up an instalment plan you will nevertheless have to satisfy your present and future month-to-month minimum repayments.

    Interest & your instalments

    Exactly How interest works together with SurePay

  • The interest price will likely to be fixed for the term that is full of plan
  • Any period that is interest-free acquisitions will not connect with the acquisition or balance you transfer towards the SurePay plan
  • You might nevertheless qualify for interest free periods on acquisitions perhaps perhaps not in an idea if every month, you pay back all non-instalment balances along with your monthly instalment payment/s because of the date that is due thirty days.
  • SurePay re re payments

    When you yourself have a SurePay instalment plan, your repayments to your bank card shall be reproduced the following:

  • Present month-to-month instalment payment/s (if you’ve got numerous plans re payments are used from highest to lowest rate of interest, if rates of interest are exactly the same on all plans from oldest to latest)
  • Advance loan balances (if applicable)
  • Buy balances
  • Other balances such as for example transfers of balance (if relevant)
  • The following month-to-month instalment for any staying instalment balances.
  • This means your overall month-to-month instalment payments will always paid first, even although you have actually other balances with greater rates of interest (such as for instance payday loans or acquisitions perhaps not in an idea). If this no further you prefer, you may cancel your plan whenever you want.

    Establishing a strategy

    SurePay is present on eligible credit that is personal and Business Awards cards.

    To create up an idea:

  • In NetBank go to Settings >Set up/manage SurePay plan
  • Into the CommBank application head to Accounts > charge card account > Manage account > plans that are surePay
  • Alternatively, contact us on 13 2221, or check out your branch that is nearest.

    Wish to check out the most recent provides?

    You can update your message preferences in NetBank if you’d like to hear about the latest SurePay program offers. Simply sign on, get to ‘Settings’, select ‘Message preferences’, and opt in to receive direct advertising offers under ‘Special provides, services and products & offers’.

    Things you need to know

    You’ll not manage to submit an application for an instalment plan in the event that you have exceeded your limit or if you are in default) if you don’t meet our criteria (e.g.. Instalment plans aren’t available on CommBank Neo, non-Awards Business Cards, corporate cards or transfers of balance.

    The regards to the charge card Conditions of good use associated with instalment plans (part 5) will use.

    When you have an instalment plan, we apply your charge card repayments first to your overall month-to-month instalments. This may apply even if you’ve got other card balances with an increased rate of interest, such as for instance payday loans and acquisitions instead of an agenda.

    Any interest-free duration on acquisitions will not apply when the purchase is placed on a plan.

    It is possible to cancel your instalment plan at any time. When a termination is prepared, the outstanding instalment balance is supposed to be used in your purchases balance (or advance loan stability for cancelled advance loan plans) and accrue interest from the transfer date in the standard purchase or cash interest price relevant on your own account.

    In the event that you skip a payment per month your plan won’t be cancelled and you will continue steadily to make any staying monthly premiums due up towards the end of one’s plumped for term. Nevertheless, in the event that you miss an instalment payment, the amount that is unpaid be utilized in your acquisitions stability (or cash advances balance if the instalment plan ended up being a advance loan plan). It shall then accrue interest during the acquisitions (or cash loan) price.

    Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.