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Bank of Melbourne No Annual Fee Credit Card

Sally McMullen
Sally McMullen
Last updated:  

Save with an ongoing $0 annual fee and up to 55 interest free-days on purchases.

The Bank of Melbourne No Annual Fee credit card offers cost-saving features with a $0 annual fee for both primary and additional cardholders.

6.99% p.a.

Balance transfer rate

for 12 months

20.74% p.a.

Purchase rate

$0 p.a.

Annual fee

55 days

Interest free period

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Details

Product NameBank of Melbourne No Annual Fee Card
Balance transfer rate6.99% p.a. for 12 months
Balance transfer revert rateCash Advance Rate (21.49% p.a.)
Balance transfer limit80% of available limit
Purchase rate20.74% p.a.
Annual fee$0
Interest-free period55 days
Cash advance rate21.49% p.a.
Min credit limit$500
Max credit limit$40,000
Card typeVisa
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationYes - Conditions apply

Pros

  • $0 annual fee for the life of the card
  • Up to 55 days interest-free on purchases
  • Up to 3 additional cards at no extra cost

Cons

  • Relatively high purchase interest rate of 20.74% p.a.
Annual fee$0
Minimum monthly repayment2% of the closing balance or $10, whichever is greater
Late payment fee$15
Foreign currency conversion fee3%
Cash advance fee2% or $2.50, whichever is greater
Overseas cash advance fee2% or $2.50, whichever is greater
Additional cardholder fee$0
Number of additional cardholders3

Expert review

Sally McMullen

Review by

Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The Bank of Melbourne No Annual Fee credit card is a no-frills product that offers contactless payments at the checkout, as well as mobile payments through Google Pay and Samsung Pay. If you shop online with this card, you'll also get another layer of protection through Visa Secure, which adds an extra verification step at the checkout for partnered merchants.

How to apply

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

  • Residency. To apply online, you must be an Australian citizen or permanent resident.
  • Balance transfer debt. If there is a balance transfer rate available and you plan to transfer a debt, you can transfer up to 80% of your approved credit limit from 3 non-St.George, Bank of Melbourne or BankSA Australian-issued credit, charge or store cards.

Card benefits

  • $0 p.a. annual fee. You'll pay no annual fee for the life of the card.
  • 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.

Rates & fees

  • Purchase interest rate. Your purchases will attract the 20.74% p.a. variable interest rate.
  • Low minimum credit limit. You can keep your credit card spending in check with a minimum credit limit of $500.

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6 Comments

  1. Default Gravatar
    Tracy
    April 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?

    Reply
    • Avatarfinder Customer Care
      Harold
      April 27, 2017

      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

      Reply
  2. Default Gravatar
    Fred
    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

    Reply
    • Avatarfinder Customer Care
      May
      September 18, 2016

      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

      Reply
  3. Default Gravatar
    Sara
    April 29, 2013

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

    Reply
    • Avatarfinder Customer Care
      Jacob
      April 29, 2013

      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.

      Reply
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