Amplify Signature (Amplify Rewards)

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Basic

Card Level
Card Level
Premium
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$80,000
Minimum credit limit
Minimum credit limit
$15,000
Minimum repayment dollars
Minimum repayment dollars
$10
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$279
Late Payment Fee
Late Payment Fee
$15
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$8
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Premium
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$80,000
Minimum credit limit
Minimum credit limit
$15,000
Minimum repayment dollars
Minimum repayment dollars
$10
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$279
Late Payment Fee
Late Payment Fee
$15
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$8
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
19.49%
Cash advance rate
Cash advance rate
20.24%
Purchase Rate
Purchase Rate
19.49%
Cash advance rate
Cash advance rate
20.24%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
Transfer Limit
Transfer Limit
80%of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
Transfer Limit
Transfer Limit
80%of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$5
Estimated ATM Cost
Estimated ATM Cost
$14for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$5
Estimated ATM Cost
Estimated ATM Cost
$14for AU $300 withdrawal

Rewards

Program name
Program name
Amplify Rewards
Rewards Available
Rewards Available
Gift Card
Program name
Program name
Amplify Rewards
Rewards Available
Rewards Available
Gift Card

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions
NO strict minimum income, all circumstantial
Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions
NO strict minimum income, all circumstantial

Earn Rates

RateCard TypeEarnsCondition
1.5 points for $1 spentVisauncappedeligible purchases

Perks

  • Concierge
  • Extended Warranty
  • Free Domestic Travel Insurance
  • Free International Travel Insurance
  • Free Travel Insurance Days
  • Price Guarantee
  • Free Supplementary Cards
  • Airport Lounge
Other Benefits
Within 4 weeks of your birthday, receive an additional 10% of the points earned in the last 12 months.

Features

The Bank of Melbourne Amplify Signature credit card has a high annual fee, moderately high interest rates and a moderate interest-free period. The card charges a moderately low late payment fee and allows one additional card holder (age 16 or older) at no additional cost.

This card has an associated rewards scheme, Amplify Rewards, that earns rewards points on eligible purchases. The card receives 1.5 rewards points per $1 spent on eligible purchases from both Australian and overseas merchants. These points are uncapped, meaning your earn rate will not decrease after a certain threshold. You’ll also receive a birthday bonus which gifts you with 10 per cent of the points you’ve earned in the previous 12 months. Amplify rewards points can be redeemed for travel perks, gift cards, retail vouchers and more.

Pros
  • Earns Amplify Rewards points
  • Free additional card holder
  • Complimentary insurances
Cons
  • High annual fee
  • Moderately high interest rates
  • Overseas transaction fees

 

Who is it good for?

The Bank of Melbourne Amplify Signature card is best for card holders who spend regularly on their card each month. Because the rewards scheme relies on making eligible purchases, customers with more purchases will earn more rewards. This card is also appropriate for potential card holders looking for variety in their rewards scheme. Amplify points can be used for a range of products and services, including shopping vouchers, homewares and even frequent flyer programs.

This card may not be a good fit for budget card holders. The relatively high interest rates may deter customers who struggle to pay their credit card bill in full each month. For those who want a card that minimises unnecessary fees and costs, a card with no annual fee and a rewards program may be more appropriate.

What RateCity says

The Bank of Melbourne Amplify Signature card is a practical credit card for existing Bank of Melbourne customers who want a rewards scheme that offers variety and a reasonable earn rate. However, the card has little value for potential card holders who are not already Bank of Melbourne customers. This card earns at a rate of 1.5 rewards points per $1 spent on eligible purchases, which is comparable to several other credit cards. If you wish to keep your banking limited to one provider, it may be best to discuss reward card options with your current bank.

In addition, this credit card’s high annual fee may make it unattractive to the budget card holder. Customers who are seeking a rewards program but don’t want to pay a hefty annual fee may benefit from shopping the market for a rewards card with a moderately low yearly fee instead.

Applying/eligibility

In order to be eligible for the Bank of Melbourne Amplify Signature credit card, you must be 18 years or older and have either Australian citizenship or permanent residency. When applying, you’ll need to provide at least one form of identification, such as an Australian driver’s licence or a passport. If you have applicable foreign tax details, you’ll need to submit them as well. The application also requires income and employment details along with any relevant financial commitments.

About Bank of Melbourne

The Bank of Melbourne is a regional Australian bank that provides financial services to consumers, businesses and corporate entities. Bank of Melbourne offers bank accounts, home and personal loans, credit cards, investments, insurance and superannuation to their customers. Their business offering also includes payment solutions and business loans. Bank of Melbourne has 106 bank branches across Victoria, with headquarters in Melbourne’s CBD. Bank of Melbourne offers online banking services as well as 24/7 phone banking.

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