Bank of Melbourne Amplify Signature Credit Card
Bank of Melbourne’s Amplify Signature offers up to 200,000 bonus Amplify Points but the spend requirement is split over 2 years.
The Bank of Melbourne Amplify Signature offers the bank’s highest credit card earn rate of 1.5 Amplify Points per $1 spent, airport lounge passes and complimentary insurance – with a $279 p.a. annual fee.
Per $ spent
|Product Name||Bank of Melbourne Amplify Signature|
|Rewards program||Amplify Rewards|
|Balance transfer rate||0% p.a. for 24 months with 1% balance transfer fee|
|Balance transfer revert rate||Cash Advance Rate (21.49% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||19.49% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||21.49% p.a.|
|Min credit limit||$15,000|
|Max credit limit||$80,000|
|Foreign currency conversion fee||3%|
|Available to temporary residents||Yes - Conditions apply|
- 100,000 bonus points in the first year and 100,000 bonus points in the second year (200,000 points total) when you spend at least $12,000 per year
- 0% p.a. on balance transfers for 24 months
- 2 complimentary airport lounge passes per year
- Complimentary overseas travel insurance for up to 6 months
- Spend requirement is high and staggered over 2 years
- Charges a 3% foreign transaction fee
- Charges a 1% balance transfer fee
|Rewards program||Amplify Rewards|
|Rewards points per $ spent||1.5|
|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||3%|
|Overseas cash advance fee||2%|
|Additional cardholder fee||$0|
|Number of additional cardholders||1|
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.
How to applyIf 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.
- 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.
- 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.
- Up to 200,000 bonus Amplify points. Apply by 24 February 2022 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 converted to 100,000 Velocity Points or redeemed for $400 worth of Woolworths WISH digital gift cards (91,200 points for 4 eGift cards worth $100). 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.
- Balance transfer offer. New customers who apply by 24 February 2022 can take advantage of a 0% p.a. interest rate for the first 24 months on balance transfers (with a one-time 1% balance transfer fee). After the promotional period, any balance remaining will be charged at the variable cash advance rate.
- 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, a purchase from or payment to a government or government related agency, account fees and cash advances.
- Birthday bonus points. To celebrate your birthday each year, you'll get an extra 10% of the points you earned in the last 12 months. As an example, if you earned 20,000 points on your everyday spending during the 12-month calculation period, you'd get a birthday bonus of 2,000 points. These points are credited to your account within 4 weeks of your birthday and don't include any other bonus points you may have earned during the year.
- 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 card offers complimentary purchase security insurance, extended warranty insurance and price guarantee cover when you use it to pay for eligible items.
Rates & fees
- Annual fee. This card charges a standard annual fee of $279.
- Interest rate. The variable purchase rate of the Amplify Signature card is 19.49% 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.