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Bank of Melbourne Amplify Signature Credit Card

Amy Bradney-George
Amy Bradney-George
Last updated:  

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.

Apply for the Bank of Melbourne Amplify Signature by 02 October 2019 and collect 100,000 bonus Amplify points in the first year when you spend at least $12,000 on eligible purchases.

0% p.a.

Balance transfer rate

for 6 months

200,000

Bonus points

19.74% p.a.

Purchase rate

1.5

Reward points

Per $ spent (Visa/Mastercard)

Details

Product NameBank of Melbourne Amplify Signature
Rewards ProgramAmplify Rewards
Balance Transfer Rate0% p.a. for 6 months
Balance Transfer Revert RateCash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available balance
Purchase Rate19.74% p.a.
Annual Fee$179 for the first year ($279 thereafter)
Interest Free Period55 days
Cash Advance Rate21.49% p.a.
Minimum Credit Limit$15,000
Maximum Credit Limit$80,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Complimentary Travel InsuranceYes
Minimum Age18 years of age
Available to Temporary ResidentsNo
Joint ApplicationYes

Pros

  • 100,000 bonus Amplify points in the first year plus another 100,000 bonus points in the second year when you spend at least 02 October 2019 on eligible purchases each year.
  • Discounted $179 annual fee for the first year.
  • 0% p.a. for 6 months on balance transfers.
  • Stay protected with a complimentary travel insurance.

Cons

  • Both the purchase interest rate and the cash advance rate are relatively high.
Rewards ProgramAmplify Rewards
Bonus Points200,000 bonus points
Rewards Points per $ spent (Visa/Mastercard)1.5
Annual Fee$179 for the first year ($279 thereafter)
Minimum Monthly Repayment2% of the closing balance or $10, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Cash Advance Fee2% or $2.50, whichever is greater
Additional Cardholder Fee$0
Number of Additional Cardholders1
Go to Bank of Melbourne's siteMore info

Expert review

Amy Bradney-George

Review by

Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

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 $179 in the first year, it reverts to $279 p.a. in the second year. That means you’ll pay $458 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.

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

  • Residency. You must be an Australian citizen or permanent resident.
  • 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.
Go to Bank of Melbourne's siteMore info

Card benefits

  • 200,000 bonus Amplify points. Apply by 02 October 2019 to collect 100,000 bonus Amplify points in the first year plus another 100,000 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 transferred 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 02 October 2019, you will receive a discounted $179 first year annual fee. This saves you $100 compared to the $279 annual fee that applies outside of the introductory offer.

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.
Go to Bank of Melbourne's siteMore info

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8 Comments

  1. Default Gravatar
    GARY
    December 17, 2018

    WHERE DO YOU GO TO ON THE SITE TO APPLY?

    Reply
    • AvatarStaff
      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

      Reply
  2. Default Gravatar
    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!

    Reply
    • Default Gravatar
      CJ
      July 20, 2018

      How long does it take the card to arrive?

      Reply
    • Default Gravatar
      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

      Reply
    • AvatarStaff
      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

      Reply
    • Default Gravatar
      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

      Reply
    • AvatarStaff
      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

      Reply
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