Bank of Melbourne No Annual Fee Credit Card – Details and Application

Repay debt with no interest for 12 months and save with $0 annual fee.

The Bank of Melbourne No Annual Fee credit card combines two cost-saving features with $0 annual fee and a 0% balance transfer offer.

You can control your spending with a low minimum credit limit of $500 and reduce your card costs with up to 55 interest-free days on purchases.

Product NameBank of Melbourne No Annual Fee Card
Balance transfer rate0% p.a. for 12 months with 1% balance transfer fee
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.) 20.74% p.a.
Offer end date2 October 2019
Annual fee$0 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)21.49% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$500
Max credit limit
This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application.
$40,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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 InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationYes
Annual fee$0 p.a.
Minimum Monthly Repayment2% or $10, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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
Cash Advance Fee2%
Overseas Cash Advance Fee2% of the value of the transaction or $2.50 (whichever is greater)
Gambling Transactions AllowedYes
Additional Cardholder Fee$0
Number of Additional Cardholders3

Pros

  • $0 annual fee for the life of the card.
  • Transfer your balances at a rate of 0% p.a. for 12 months.
  • You can add up to 3 additional cardholders at no extra cost.
  • This credit card will give you peace of mind with a fraud monitoring that operates 24/7.

Cons

  • No rewards program meaning you won't earn rewards points on your purchases.
  • A one-time 1% balance transfer fee applies.

Benefits of using a Bank of Melbourne No Annual Fee Credit Card

  • $0 annual fee. You'll pay no annual fee for the life of the card.
  • Balance transfer offer. You can transfer an existing debt and pay no interest for 12 months when you apply by 2 October 2019. A 1% balance transfer fee applies and the balance transfer rate reverts to 21.49% p.a. at the end of the introductory period. You can transfer up to 80% of your approved credit limit from 3 non-St.George, Bank of Melbourne and BankSA Australian-issued credit, charge or store cards.
  • Low credit limit. This credit card offers a low minimum credit limit of $500.
  • Additional cardholders. You can request up to 3 additional cardholders for the account at no extra cost. The additional cardholders must be at least 16 years old and the primary cardholder is still responsible for transactions made with the card.
  • Contactless payments. If you have an Android device, you can link your account with Google Pay to make contactless payments with your smartphones or smartwatch. You can also use your card to make contactless payments for transactions under $100 with Visa payWave.
  • Secure shopping. You can shop online with peace of mind knowing that your account is protected by Verified by Visa.

Features of the Bank of Melbourne No Annual Fee Credit Card

  • Purchase interest rate. Your purchases will attract the 20.74% p.a. variable interest rate.
  • Cash advance interest rate. If you use your card for cash advances, such as ATM withdrawals, you'll be charged the cash advance interest rate of 21.49% p.a. You'll also be charged a cash advance fee of 2% of the value of the transaction or $2.50 (whichever is greater).
  • Foreign transaction fees. If you use your card overseas or to shop online with an international merchant, you'll be charged a 3% currency conversion fee.

How to apply for the Bank of Melbourne No Annual Fee Credit Card

You can apply for the Bank of Melbourne No Annual Fee credit card online in 10 minutes and receive a response instantly. Before you apply, check that you meet the eligibility criteria and have the necessary information to complete the application.

Eligibility criteria

  • Age. You are at least 18 years old.
  • Residency. You are a permanent Australian resident.

Documents and details to provide

  • Personal information. You'll need to include details such as your full name, date of birth, residential address and contact information.
  • Proof of identification. You'll be asked to verify your identity with an Australian driver's licence, Medicare card, passport, Australian birth certificate or NSW photo card. Foreign tax details may also be required if relevant.
  • Income and employment. Confirm your annual income and current place of employment. If you're self-employed, you will need to provide your most recent tax information.
  • Finances. Include details of any savings or investments as well as existing debts or liabilities.
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6 Responses

  1. Default Gravatar
    TracyApril 27, 2017

    I am trying to apply for the card the promotion states no annual fee every apply before 1st may. yet on your webpage the card is no annual fee for first year then $55 per year after that. Please advise as the web advertisement above states no annual fee ever?

    • Avatarfinder Customer Care
      HaroldApril 27, 2017Staff

      Hi Tracy,

      Thank you for your inquiry.

      As per checking Bank of Melbourne No Annual Fee Credit Card has no annual fee. But you can always clarify this information directly with the provider.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    September 18, 2016

    Hi,
    for no annual fee credit card, there is $15 card replacement fee within Australia, does it mean card holder pay fee every time card replaced when expired?

    Thanks

    • Avatarfinder Customer Care
      MaySeptember 18, 2016Staff

      Hi Fred,

      Thanks for your question.

      The $15 card replacement fee is applicable when your card is lost in Australia. There will be no fee when your card is replaced or renewed due to account/card expiration.

      Cheers,
      May

  3. Default Gravatar
    SaraApril 29, 2013

    What does it mean when a card has 0 days interest free?

    • Avatarfinder Customer Care
      JacobApril 29, 2013Staff

      Hi Sara. Thanks for your question. This means that you will get charged interest from the day you make a purchase on the card. Other cards have up to 55 days interest free, and some cards have an extended interest free period when you first activate the card. Jacob.

Credit Cards Comparison

Rates last updated May 27th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

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* 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.

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