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Credit Card Protection

With BankSA Credit Card Protect your repayments can be covered if anything unexpected happens.

  • Credit Card Protection helps you meet your credit card repayment obligations if you unexpectedly lose your job, become sick, have an accident, or if you pass away
  • An easy application process when you apply for a new credit card
  • No medical examinations required when applying
  • Benefits are paid directly to your credit card in the event of a claim
  • Pays off your outstanding credit card balance (up to $50,000), if you pass away.
Credit Card Protection
  • Credit Card Protection reduces the chance of you defaulting on your credit card repayments should something unexpected happen to you
  • You can claim even if you are entitled to benefits from another source, such as workers compensation, sick leave or Centrelink
Sickness or Accident
  • Helps you meet credit card repayments if you're injured, or sick and unable to work
Involuntary Unemployment
  • Helps you meet your credit card repayments if you lose your job unexpectedly (involuntary employment)
Life
  • Pays off your outstanding credit card balance if you pass away (up to a maximum of $50,000)
Joint borrowers
  • If you and another person are joint borrowers on your card, either or both of you may apply for the protection. Discounts apply for the second borrower.
Easy to apply
  • An easy application process when you apply for a BankSA credit card at one of branches or over the telephone.
Easy premium payments
  • The premium comes directly out of your credit card monthly, so you don't need to set up any other special arrangements. Amounts may vary depending on your closing balance.
Claim benefits paid direct to your credit card
  • Benefits are paid directly to your credit card in the event of a claim

Need more detail

Read the Product Disclosure Statement to make sure the credit card repayment insurance meets your needs.

The cover

It makes sense to protect your credit card repayments should something unexpected happen to you, the last thing you or your family want to worry about is your credit card repayments. BankSA Credit Card Protect helps make your credit card repayments if you should become sick, have an accident, lose your job unexpectedly, or pass away.

  • Sickness or accident – if you’re unable to work due to sickness or accident, BankSA Credit Card Protect can cover your regular credit card repayments
  • Involuntary Unemployment – if you lose your job unexpectedly, BankSA Credit Card Protect can cover your credit card repayments in the short term while you seek new employment
  • Life – helping ensure your family is not burdened with your credit card repayments if you were to pass away, BankSA Credit Card Protect pays off your outstanding credit card balance (up to $50,000).

Other benefits

  • No medical examination required when applying
  • Convenient premium payments directly from your credit card
  • Claim payments are made directly to your credit card
  • Either or both joint borrowers can apply for this protection
  • Any benefits from another source, such as workers compensation, sick leave or Centrelink will no be impacted if you make a claim

Need more detail

Read the Product Disclosure Statement to make sure BankSA Credit Card Protect meets your needs.

How credit card protection could benefit you

BankSA Credit Card Protect is easy to put in place when you apply for your new credit card at any of our branches or over the telephone.

Who is eligible

BankSA Credit Card Protect is offered when you apply for your new BankSA credit card at any of our branches or over the telephone if:

  • Aged between 18 to 63 years and Australian residents:
  • In permanent and gainful employment, a minimum of 20 hours per week and not under notice of dismissal, or
  • Self-employed for 12 months, or in a partnership that has been trading for 12 months, prior to the commencement date of insurance.

What it costs

The premium is automatically debited to your credit card account and will appear on every monthly statement that has a balance outstanding. The premium is only 60 cents for every $100 owing on your statement issue date ($1.05 for every $100 for joint borrowers). 

Example:Your monthly outstanding balance Premium payable for that month (1 borrower)
Nil Nil
$500 $3.00
$1,000 $6.00
$1,500 $9.00

What you get

In the event of a claim, any payments are made directly to your credit card. Here’s how this could work for you in the event of a claim.

Insured event Example
Life We will pay the outstanding credit card balance at the date you pass away (up to your credit limit or $50,000)
Sickness and accident We will pay 4% of the outstanding balance owing for up to 1 year or $1,500, whichever occurs first
Involuntary Unemployment We pay 4% of the outstanding balance for up to 180 days or $1,500 , whichever occurs first

Need more detail?

Read the Product Disclosure Statement to make sure that BankSA Credit Card Protect meets your needs.

How to claim

Call Swann Insurance as soon as possible on 1300 657 382 if you believe you have a reason to make a claim.

They will provide you with a claim form for you to complete and return within 14 days, including the information outlined below and any other details they need. If your claim relates to a period exceeding one month, you may need to complete further claim forms and provide further information.

All claim forms are to be mailed to:

Swann Insurance (Aust) Pty Ltd 
PO Box 14459 
Melbourne VIC 8001

(We cannot include this information as all claims are assessed by Swann Insurance and should be directed to them regarding documentation they require for assessment)

What happens when you claim

Swann Insurance will get back to you within 10 days to either:

  • Confirm whether your claim has been successful and provide payment details, or
  • Request additional information to help reach a decision on your claim.

Need assistance

If you have any questions, or would like assistance completing the claim form, please call Swann Insurance on 1300 657 382, Monday to Friday, 9am and 5pm (Sydney time).

It’s easy to apply for credit card protection when you apply for your new BankSA credit card at any of our branches or over the telephone.

Call 13 13 76 and say ‘credit card' when prompted, 7.30am –7.30pm  Monday to Saturday.

Visit a branch

How to apply

Important information

Conditions, limits and exclusions apply to BankSA Credit Card Protect, details of which are explained in the Product Disclosure Statement and policy wording (PDS). The advice on this webpage is general advice only and does not take into account your individual objectives, financial situation or needs (your personal circumstances). Before acting on this advice and making a decision about BankSA Credit Card Protect, you should consider the appropriateness of the advice, and the PDS having regard to your personal circumstances.

In arranging this insurance, BankSA – A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (BankSA) acts under Westpac Banking Corporation’s Australian Financial Services Licence and under an agreement with the insurers, Swann Insurance (Aust) Pty Ltd ABN 80 000 886 680 AFSL 238292 (Swann Insurance) and St.George Life Limited ABN 88 076 763 936 AFSL 240900 (St.George Life).

Swann Insurance and St.George Life each take full responsibility for the whole of this PDS. However, they are not responsible or liable to you for the insurance cover provided by the other. These policies are not deposits with or other liabilities of Westpac Banking Corporation (the Bank). Neither the Bank, BankSA nor any member of the Westpac Group, other than St.George Life, guarantees the insurance benefits under these policies.