Bank of Melbourne No Annual Fee Credit Card

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

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

0% p.a.

Balance transfer rate

for 12 months with 1% balance transfer fee

20.74% p.a.

Purchase rate

$0 p.a.

Annual fee

55 days

Interest free period

Details

Product NameBank of Melbourne No Annual Fee Card
Balance Transfer Rate0% p.a. for 12 months with 1% balance transfer fee
Balance Transfer Revert RateCash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available balance
Purchase Rate20.74% p.a.
Annual Fee$0
Interest Free Period55 days
Cash Advance Rate21.49% p.a.
Minimum Credit Limit$500
Maximum Credit Limit$40,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationYes

Pros

  • $0 annual fee for the life of the card
  • 0% p.a. on balance transfers for 12 months

Cons

  • A one-time 1% balance transfer fee applies.
  • 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 Fee (Visa/Mastercard)3% of transaction value
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 Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

The Bank of Melbourne No Annual Fee credit card is a no-frills product designed to help you cut card costs.

It doesn’t offer the longest interest-free balance transfer offer on the market, but the $0 p.a. annual fee could help you save more compared to other cards. Just make sure to factor the balance transfer fee into your comparison.

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 you're planning to take advantage of the balance transfer offer, 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.
  • Balance transfer offer. You can transfer an existing debt and pay no interest for 12 months when you apply by 12 February 2020. A 1% balance transfer fee applies and the balance transfer rate reverts to 21.49% p.a. at the end of the introductory period.

Rates & fees

  • Purchase interest rate. Your purchases will attract the 20.74% p.a. variable interest rate.
  • Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days. You're not eligible for interest-free days if you're paying off a debt from a balance transfer.

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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?

    • AvatarStaff
      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

  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

    • AvatarStaff
      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

  3. Default Gravatar
    Sara
    April 29, 2013

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

    • AvatarStaff
      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.

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