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No Annual Fee Visa


Pros and Cons

  • No Annual Fee


Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



  • Free Supplementary Cards


As the name suggests, the Bank of Melbourne No Annual Fee Visa credit card has no annual fee, a low minimum credit limit, a moderate interest rate and a moderate interest-free period.

The card does not have an associated rewards scheme.

The Bank of Melbourne No Annual Fee Visa allows up to three extra additional card holders (16 years or over) at no extra cost.

It also offers a balance transfer deal of 0 per cent interest (although a 1 per cent balance transfer fee applies).

You can use the Bank of Melbourne No Annual Fee Visa to make payWave contactless payments for transactions under $100.

In terms of security, this credit card is protected by 24/7 fraud monitoring. Verified by Visa protects you while shopping online or over the phone.

  • No annual fee
  • Low minimum credit limit
  • Three free additional cardholders
  • No rewards scheme
  • Missed and late payment fees
  • Moderate interest rate


Who is it good for?

The Bank of Melbourne No Annual Fee Visa might be a good option for someone who only uses a credit card occasionally.

Or it might suit a younger person wanting to be able to access a small amount of credit to pay bills, purchase festival tickets or use for shopping.

No annual fee means that the card won’t cost you money keeping the account active for times of need.

And no fees or charges are incurred unless you lose the card and need a replacement, miss a payment or dishonour a payment under the automatic payment plan.

The credit card can be linked to a Bank of Melbourne bank account, to make managing repayments easier.

Minimum repayments for this card are 2 per cent of the closing balance outstanding or $10, whichever is the greater. If the closing balance is less than $10, it must be paid in full. 

What RateCity says

If you want a credit card to have on hand that doesn’t cost you anything to keep, this card could meet that need.

The Bank of Melbourne No Annual Fee Visa is a no-frills credit card that doesn’t offer any fringe benefits in terms of rewards or points schemes.

It also doesn’t have much flexibility regarding how it can be used for purchases – unlike other credit cards that come with a mobile wallet facility, such as Apple Pay or Samsung Pay.

The card does have payWave for purchases under $100, but for everything else, you would need to use the card with a pin.

You can access cash advances with this credit card, which have a moderate interest rate attached to this convenience.

This card has phone and internet banking available. And if you’re a Bank of Melbourne customer, you can link your personal bank account to it.


To be eligible for the Bank of Melbourne No Annual Fee Visa, you must be 18 years old and a permanent Australian resident.

You can apply online or in a branch and would need either an Australian driver's license, Medicare card, passport, Australian birth certificate or NSW Photo Card as ID.

You would also need evidence of income, employment and any financial commitments. If you’re an Australian visa holder, you may need to provide foreign tax details.

About Bank of Melbourne

The Bank of Melbourne was established in 1989. It was later acquired by the Westpac Banking Corporation in 1997. The bank has over 100 branches spread around Victoria, with its headquarters and call centre located in Melbourne's CBD. The Bank of Melbourne invests in the local economy and supports the community through initiatives like the Bank of Melbourne Neighbourhood Fund. The Bank of Melbourne is a partner of the Melbourne Food and Wine Festival, Arts Centre, MCG and Yarra Trams.

​Nick Bendel is a senior property and personal finance writer for RateCity, and an experienced journalist with numerous writing credits to his name. To date. He covers property, home loans, credit cards, superannuation and other bank products, and loves getting elbow-deep in the latest ABS, APRA and RBA data.​

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