Bank of Melbourne Amplify Signature Credit Card

Finder Award

Last updated: Sep 10, 2020

Earn up to 200,000 bonus Amplify Points and get a discounted annual fee in the first year with the BoM Amplify Signature credit card.

Winner of the 2020 Finder Award for Best Rewards Credit Card, the Bank of Melbourne Amplify Signature offers 130,000 bonus Amplify points in the first year when you spend at least $12,000 on eligible purchases. To take advantage of the bonus points offer, you need to apply by 09 February 2021.

You can earn another 70,000 bonus points in the second year by once again spending $12,000 or more on eligible purchases during the year. As well as bonus points, this introductory offer includes a reduced annual fee of $139 in the first year ($279 p.a. thereafter).

200,000

Bonus points

19.74% p.a.

Purchase rate

1.5

Reward points

Per $ spent

$139 p.a.

Annual fee

for the first year ($279 p.a. thereafter)

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Details

Product Name	Bank of Melbourne Amplify Signature
Rewards program	Amplify Rewards
Balance transfer rate	0% p.a. for 6 months
Balance transfer revert rate	Cash Advance Rate (21.49% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	19.74% p.a.
Annual fee	$139 annual fee for the first year ($279 p.a. thereafter)
Interest-free period	55 days
Cash advance rate	21.49% p.a.
Min credit limit	$15,000
Max credit limit	$80,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

130,000 bonus points in the first year and 70,000 bonus points in the second year (200,000 points total) when you spend at least $12,000 per year
Reduced annual fee of $139 for the first year
2 complimentary airport lounge passes per year
Complimentary overseas travel insurance for up to 6 months

Cons

Spend requirement is high and staggered over 2 years
A relatively high standard annual fee of $279 applies after the first year
Charges a 3% foreign transaction fee

Rewards program	Amplify Rewards
Bonus points	200,000
Rewards points per $ spent	1.5

Annual fee	$139 annual fee for the first year ($279 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	1

Go to Bank of Melbourne's site More info

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Bank of Melbourne Amplify Signature is a premium rewards credit card that offers both a competitive introductory offer and ongoing features. The major drawcard here is 200,000 bonus points, which you can only collect in full if you keep the card for two years and spend at least $12,000 in each of those years. This works out to about $1,000 per month for 24 months, so have a think about if that’s achievable based on your spending patterns.

Another consideration is the cost of the account over those two years. While you’ll get a reduced annual fee of $139 in the first year, it reverts to $279 in the second year. That means you’ll pay $418 in annual fees during the bonus point promotion. However, a search on the Amplify Rewards website in April 2019 shows that 200,000 bonus points could get you $900 worth of David Jones or Myer eGift cards – or 100,000 Velocity Points for flights and upgrades.

Beyond the introductory offer, this card gives you 1.5 points per $1 spent on eligible purchases, no points cap, two Priority Pass airport lounge invitations each year and a suite of complimentary insurance covers – including overseas travel insurance.

How to apply

If you've compared your options and want to apply for the Bank of Melbourne Amplify Signature, you can fill out an online application form in around 10 minutes. Get started by making sure you meet the following eligibility requirements and have all the documents and details you'll need to complete the application.

Eligibility criteria

New cardholder. To take advantage of the bonus point offer on this card, you must not currently hold an Amplify Platinum or Amplify Signature credit card from Bank of Melbourne, St.George or BankSA. You also must not have held any of these accounts within the past 12 months.
Residency. To apply online, you must be an Australian citizen or permanent resident.

Eligible balance transfer debt. If you are planning to transfer a balance, you can transfer from $200 up to 80% of your available credit limit from Australian store, charge or credit cards not issued by St.George, Bank of Melbourne or BankSA.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, email address, phone number, residential address, marital status and number of dependents. You also need to provide valid ID, such as your driver's licence, passport or Medicare card.
Employment details. You need to provide details of your current employment status including your job title, length of employment, employer's contact details and your salary. You may also need to provide recent payslips, bank statements or payment summaries to verify your income.
Financial details. This covers any other forms of income – such as pensions or government payments – as well as savings and other assets. You also need to share details of your existing debts, loans and credit cards, as well as estimates of your regular household expenses such as rent, mortgage payments, bills and groceries.
Balance transfer details. If you want to take advantage of the balance transfer offer on this card, you need to provide details of the debt you want to move to the new account. This includes the total transfer amount, the account name, number and BSB.

Go to Bank of Melbourne's site More info

Card benefits

200,000 bonus Amplify points. Apply by 09 February 2021 to collect 130,000 bonus Amplify points in the first year plus another 70,000 bonus points in the second year (total of 200,000 points) when you spend at least $12,000 on eligible purchases each year. To give you an idea, 200,000 Amplify Points can be converted to 100,000 Velocity Points. Points will be credited to the account within 12 weeks of the spend being met and earning bonus points in the second year is independent of earning the first year bonus points.
Discounted annual fee for the first year. When you apply for this card and are approved before 09 February 2021, you will receive a discounted $139 first year annual fee. This saves you $140 compared to the $279 annual fee that applies after the introductory offer.

Amplify Rewards Program. The Amplify Signature earns 1.5 points for every $1 spent on eligible purchases in Australia and overseas, with no points cap. Eligible purchases cover most everyday spending categories, including groceries, petrol, dining and travel. Transactions that are not eligible to earn points include BPAY payments, government fees and ATO payments, account fees and cash advances.
Airport lounge passes. Receive 2 complimentary Priority Pass lounge visits per year when you enroll online at prioritypass.com/amplifysignature.
Complimentary travel insurance. Get access to complimentary, comprehensive travel insurance when you use this card for at least $500 of your prepaid travel costs – such as flights and accommodation – and when you have a return ticket for your overseas trip. This cover includes medical expenses, unexpected cancellation and rental vehicle excess. It is also available for your eligible spouse and dependent children when they are travelling with you and meet the eligibility requirements.
Complimentary insurance for shopping. The Bank of Melbourne Amplify Signature offers complimentary purchase security insurance, extended warranty insurance and price guarantee cover when you use it to pay for eligible items.
Balance transfer offer. New customers who apply by 09 February 2021 can take advantage of a 0% p.a. interest rate for the first 6 months on balance transfers. After the promotional period, any balance remaining will be charged at the variable cash advance rate.

Rates & fees

Annual fee. Outside of any promotions, this card charges a standard annual fee of $279.
Interest rate. The variable purchase rate of the Amplify Signature is 19.74% p.a.

Interest-free days. When you pay your monthly payment balance in full, which excludes current balance transfers, listed on your statement by the payment due date, you will receive up to 55 days interest-free on new purchases. Note that interest-free days are separate from any longer-term interest rate promotions.
Cash advance rate. The variable cash advance rate is 21.49% p.a.
Foreign transaction fee. If you use this card overseas or online with businesses that process payments overseas, you will be charged a 3% foreign currency conversion fee.
Additional cardholder. Add an additional cardholder for $0.

Go to Bank of Melbourne's site More info

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8 Comments

GARY
December 17, 2018

WHERE DO YOU GO TO ON THE SITE TO APPLY?

finder Customer Care

Jhez
December 19, 2018

Hello Gary,

Thank you for your comment.

To apply for the Bank of Melbourne Amplify Signature – Online Offer through finder, please click the Go to Site (green) button above.

Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

Regards,
Jhezelyn

Sarah
March 13, 2018

Hi There,

Just wondering if anyone knows whether it is ok to do the Qantas bonus points offers across St George, Bank of Melbourne? I read the fine print and it’s not excluded specifically, but only now refers to “Amplify” program so not sure if this is across their entire group.

Thanks!

CJ
July 20, 2018

How long does it take the card to arrive?

Joel
July 20, 2018

Hi CJ,

Thanks for leaving a question on finder.

The card will arrive in 5-10 working days. If it takes longer than expected, please call them up to find out what is causing the delay.

Cheers,
Joel

finder Customer Care

Jeni
March 13, 2018

Hi Sarah,

Thanks for getting in touch with finder.

Since you are enquiring about earning Qantas bonus points if not an Amplify Signature Credit Card user, you can also refer to this link https://www.finder.com.au/credit-cards/bank-of-melbourne-credit-cards. As you can read from the said page, cards which are not Amplify are not earning Qantas bonus points. You can see them when you look at the table to compare the credit cards and check under Rewards Program tab.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

Have a wonderful day!

Cheers,
Jeni

Sarah
March 13, 2018

Hi jeni,

Thanks for your reply. My question was more linked to whether you can have both the st George amplify qantas card and also the bank of Melbourne amplify Qantas card and they be considered separate and therefore you could get both 90,000 sign up bonuses if you had both cards.

Thanks

finder Customer Care

Jeni
March 16, 2018

Hi Sarah,

Yes. You could get 90,000 points each on both new cards.
Please see links for your reference BOM https://www.finder.com.au/bank-of-melbourne-amplify-signature-credit-card and St. George https://www.finder.com.au/st-george-amplify-signature-qantas

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

Have a wonderful day!

Cheers,
Jeni

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Bank of Melbourne Amplify Signature Credit Card