Amplify Classic (Amplify Rewards)
Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
Balance Transfer Rate
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Number free supplementary
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Maximum credit limit
Late Payment Fee
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Over limit fee
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Duplicate statement fee
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Supplementary card annual fee
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Balance Transfer Rate
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Foreign Exchange Fee
3% on Visa
Estimated ATM Cost
for AU $300 withdrawal
NO strict minimum income, all circumstantial
457 Visa holder
|1 point for $1 spent||Visa||uncapped||eligible purchases|
- Free Supplementary Cards
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The bank offers a number of credit cards alongside personal finance products such as bank accounts, home loans and personal loans.
Although Bank of Melbourne branches are limited to Victoria, customers can also get service at St George Bank and SA Bank branches in other states, and access their ATM networks.
The Bank of Melbourne Amplify Classic credit card allows cardholders to earn points with Amplify Rewards, a rewards program issued by Bank of Melbourne, St George and BankSA. Cardholders can redeem these points on frequent flyer rewards, homewares, gift cards, travel and more.
The Bank of Melbourne Amplify Classic credit card also provides a moderate amount of interest-free days and the ability to add an additional cardholder at no extra cost. New cardholders can also take advantage of this credit card’s balance transfer offer, with a no-interest period for the first 18 months.
This credit card has a moderately high interest rate, and an even higher rate on cash advances. The annual fee is moderate, and there is also a moderately low late payment fee, which also includes an additional fee for each payment dishonour.
- Earn Amplify Rewards points
- Free additional cardholder
- 24/7 fraud monitoring
- Moderately high interest rate
- Moderate annual fee
- Fee for card replacement
Who is it good for?
The Bank of Melbourne Amplify Classic credit card could be a good option for current Bank of Melbourne customers who are shopping around for a rewards program and rewards credit card to match. Amplify points can be redeemed with a number of travel, retail, financial and even charitable services, but it is always worth shopping around to make sure this is the right rewards program for you.
As with many rewards credit cards, the interest rate on the Bank of Melbourne Amplify Classic credit card is moderately high, so this card is best suited for customers who already pay off their credit cards in full each month.
The additional fees for card replacement, and even higher fees if you are overseas (even in an emergency), also mean that this card is better suited to people who do not have a history of losing or misplacing their credit cards.
What RateCity says
The Bank of Melbourne Amplify Classic credit card is a rewards card with few additional perks or benefits. The main value proposition of this credit card is the ability to earn Amplify Rewards points, a rewards program issued by Bank of Melbourne, St George and BankSA. For this reason, potential customers should look into the Amplify Rewards program to see if it is right for them.
For consumers who are not already Bank of Melbourne customers, or who are already members of another rewards program, this credit card offers little more than many other credit cards in the market – many of which have lower interest rates and annual fees. This can be expected with no-frills credit cards such as these, which are more likely to appeal to a smaller, more specific market.
To apply for the Bank of Melbourne Amplify Classic credit card, you must be at least 18 years old, an Australian citizen or permanent resident, and meet any other serviceable criteria. Current Bank of Melbourne customers can apply online in just five minutes, and for new customers it should take about 10 minutes. When you are ready to apply, make sure to have a form of identification, income and employment details, and details of any financial commitments on hand.
About the lender
Bank of Melbourne was established in 1989, and has been headquartered in Melbourne since its inception. In 1997, it was acquired by Westpac Banking Corporation, and in 2004 all branches were rebranded as Westpac. In 2011, Westpac resurrected the brand, which now operates as a separate entity to its parent company. Today, Bank of Melbourne employs over 1,200 people, and is in over 100 locations in Australia, including Melbourne, Shepparton, Ballarat, Geelong and Bendigo.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
Credit cards aren’t something you want to collect unnecessarily. If you’ve paid the balance off or have upgraded to a new credit card, it’s important to cancel your old cards to avoid any additional fees. Unless you’re doing a balance transfer, you’ll need to pay the outstanding balance before you cancel your credit card. If you’ve opted for a card with reward points, make sure you redeem or transfer the points before you close your account. To avoid any bounced payments and save yourself an admin headache, redirect all your direct debits to a new card or account. Once you’ve done all the preparation, call your bank or credit card provider to get the cancellation underway. Once you receive a confirmation letter, destroy your card and make sure the numbers aren’t legible.
Credit cards offering rewards can be great if you know you’ll use the card enough to get significant rewards points, and use the rewards you earn.
They can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Also, think about the types of benefits you’d like. There’s no point in getting a card with rewards for retailers you never visit, or travel you don’t have time to use.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.