Bank of Melbourne Amplify Business Credit Card – Rates and fees

Information verified correct on December 5th, 2016

Manage your business spending, earn rewards and get 0% interest on purchases for 12 months with the Bank of Melbourne Amplify Business credit card.

The Bank of Melbourne Amplify Business credit card offers a wide range of benefits for businesses, with features including additional cards for employees, complimentary insurance and compatibility with financial software programs. It also earns rewards for purchases, with the choice of the bank’s Amplify Rewards or Qantas rewards. Find out more about the Bank of Melbourne Amplify Business credit card and how to apply here.

Product NameBank of Melbourne Amplify Business Credit Card
Rewards ProgramAmplify Rewards
Purchase rate (p.a.)0% p.a. for 12 months (reverts to 19.49% p.a.)
Annual fee$89 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)20.74% p.a.
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$20,000
Card TypeVisa
Late Payment Fee$9
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$20,000
Annual Fee$89 p.a.
Late Payment Fee$9
Over Limit Fee$9
Cash Advance Fee2% fee for cash advance transactions, with a minimum charge of $2.50
Overseas Emergency Replacement$52.50
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Number of Additional Cardholders3

Pros

  • Earn rewards points uncapped and receive complimentary business inconvenience insurance.

Cons

  • Complimentary travel insurance is not included.
Rewards ProgramAmplify Rewards
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (VISA/MC) CapUncapped
Points ExpiryNever

Bank of Melbourne Amplify Business Credit Card review

Bank of Melbourne’s Amplify Business Credit Card is designed for small- to medium-sized businesses. It offers up to 3 additional cardholders per account, giving you the chance to assign cards to individual employees as needed. Each of the cards are linked to the main account, and the primary cardholder remains responsible for all charges and repayments associated with it.

In addition to these features, the Bank of Melbourne Amplify Business credit card earns reward points for spending in Australia and overseas, and even offers points for some government charges (including ATO payments). You can choose between the Amplify Rewards program and the Amplify Qantas program. As well as earning rewards for purchases, the Bank of Melbourne Business Amplify Credit Card currently features an introductory interest rate of 0% on purchases for the first 12 months before reverting to a standard purchase rate of 19.49% p.a. (variable). This card also features a competitive annual fee of $89 p.a., up to 55 days interest free and complimentary insurance for your business and employees.

Benefits of the Bank of Melbourne Amplify Business Credit Card

  • Rewards program. Sign up for Amplify Rewards and you'll earn 1 point per $1 spent in Australia, 2 points per $1 for overseas purchases and 0.5 points per $1 spent on Government payments. If you decide to opt-in to Amplify Qantas, you'll earn between 0.25 and 1 Qantas point per $1 spent.
  • Uncapped rewards. Earn uncapped points when you enrol in either the Amplify Rewards or Amplify Qantas program and use this card to pay for purchases. Note that you will need to be an existing Qantas Frequent Flyer member or sign up to become a Qantas member before you can earn Amplify Qantas rewards.
  • Simplified tax reporting. This account allows you to directly export expense data into MYOB or BAS. Transactions can also be downloaded into Microsoft Excel.
  • Complimentary business inconvenience insurance. This card offers complimentary coverage for a range of situations including business premise invasion, recruitment costs and temporary replacement of employees.
  • Unauthorised transaction insurance. This insurance covers you against unauthorised transactions made by additional cardholders for your Bank of Melbourne Amplify Business account.
  • Transit accident insurance. This provides accidental death and injury cover for cardholders who sustain an injury as a passenger on a plane, bus or ferry while they are overseas. To get coverage, cardholders must pay for the entire trip on their Bank of Melbourne Amplify Business credit card before leaving Australia. The insurance is also extended to spouses, providing the terms and conditions are met.
  • Secure online shopping. Sign up for Verified by Visa through Bank of Melbourne's Internet banking website and get an extra level of authentication for Internet transactions.
  • Interest free days. Pay your account balance in full by the due date each statement cycle to get up to 55 days interest free on new purchases.

Features of the Bank of Melbourne Amplify Business Credit Card

  • Purchase rate. This card has a standard purchase rate of 19.49% p.a. (variable).
  • Cash advance rate. The cash advance interest rate for this card is 20.74% p.a. (variable).
  • Annual fee. Bank of Melbourne's Amplify Business credit card has an annual fee of $89 p.a.
  • Foreign transaction fee. A fee worth 3% of the total transaction is applied when you use this card for purchases in a foreign currency or with overseas merchants.
  • Cash advance fee. This card has a 2% fee for cash advance transactions, with a minimum charge of $2.50.
  • Late payment fee. A $9 fee is charged for late payments on this business credit card account.
  • Over limit fee. A charge of $9 is applied if you or one of your additional cardholders goes over the available credit limit for this account.
  • Card replacement fees. This card charges $15 per card for replacement in Australia, $45 per card for emergency replacement in Australia and $52.50 per card for overseas replacement.
  • Automatic payment fee. A $9 fee is applied once per statement period for any dishonoured payments made under the automatic payment plan.
  • Statement copy fees. There is a charge of $4.50 for every statement copy request made over the phone or online, and $7.50 for all other requests.

How to apply for the Bank of Melbourne Amplify Business credit card

If you’ve decided that the Bank of Melbourne Amplify Business credit card is right for you, you can apply online or in-branch. Before you apply, make sure you meet the following eligibility requirements.

Eligibility requirements

  • Age. You must be at least 18 years of age to apply for a credit card.
  • Residency status. You must be an Australian resident or citizen to apply for this card.
  • Residential address. You must have a valid Australian residential address to apply for this business credit card.
  • Business spending. You must use this card wholly or predominantly for business expenditure.
  • Business details. You must provide details of your business, such as your Australian Business Number (ABN) or Australian Company Number (ACN).

Required documents

Once you’ve determined that you meet the eligibility requirements, start preparing the following documents and evidence:

  • Personal details. You’ll need to offer details such as your Australian driver's licence number, residential address and contact number.
  • Financial details. You might be asked to provide copies of your recent business tax statements.
  • Employment details. You’ll need to provide information regarding your employment details and income. As a business credit card, you’ll also be asked to provide your ABN or ACN, business income and expenditure, business contact information and details of your tax agent or accountant.
  • Additional cardholder information. If you have employees that you wish to include as additional cardholders for this account, you will need to provide personal details including their full name/s and contact information.

After your application is approved and fully processed, you should get your primary card and any additional cards for your employees within 5-10 business days. You can then activate these cards and start using the account for all your business spending.

The Bank of Melbourne Amplify Business credit card offers some basic tools and features to help small- to medium-sized businesses manage spending. It also features a rewards program with uncapped earnings and has a competitive annual fee of $89. While these features could be beneficial for some business cardholders, it’s wise to compare your options before you apply.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Credit Cards Comparison

Rates last updated December 5th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback