Bank of Melbourne No Annual Fee Credit Card
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
Details
| Product Name | Bank of Melbourne No Annual Fee Card |
|---|---|
| Balance transfer rate | 6.99% p.a. for 12 months |
| Balance Transfer Revert Rate | Cash Advance Rate (21.49% p.a.) |
| Balance Transfer Limit | 80% of available limit |
| Purchase rate (p.a.) | 20.74% p.a. |
| Annual fee | $0 p.a. |
| Interest free period | 55 days |
| Cash advance rate (p.a.) | 21.49% p.a. |
| Min credit limit | $500 |
| Max credit limit | $40,000 |
| Card type | Visa |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| Complimentary travel insurance | No |
| Minimum age | 18 years of age |
|---|---|
| Available to temporary residents | Yes - Conditions apply |
| Joint application | Yes - 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 p.a. |
|---|---|
| Minimum monthly repayment | 2% of the closing balance or $10, whichever is greater |
| Late payment fee | $15 |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| Cash Advance Fee | 2% or $2.50, whichever is greater |
| Overseas cash advance fee | 2% or $2.50, whichever is greater |
| Additional cardholder fee | $0 |
| Number of Additional Cardholders | 3 |
Expert review
Review by
Sally McMullen
sally.mcmullen@finder.com.auSally 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 designed to help you cut card costs.
This card charges a high purchase interest rate, so it’s suited to cardholders who pay their monthly payment balance in full and can take advantage of the interest-free days.
