Bank of Melbourne No Annual Fee Credit Card

Save with an ongoing $0 annual fee and 0% interest on purchases for 12 months.

The Bank of Melbourne No Annual Fee credit card offers cost-saving features with a $0 annual fee for both primary and additional cardholders. Plus a 0% introductory rate on purchases for 12 months (reverts to 20.74% p.a.).

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

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Sally McMullen

Last Updated Mar 3, 2021

0% p.a.

Purchase rate

for the first 12 months (reverts to 20.74% p.a.)

$0 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	Bank of Melbourne No Annual Fee Card
Balance transfer revert rate	Cash Advance Rate (21.49% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	0% p.a. for 12 months, reverts to 20.74% p.a.
Annual fee	$0
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.49% p.a.
Min credit limit	$500
Max credit limit	$40,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	Yes - Conditions apply

Pros

Ongoing $0 annual fee
0% p.a. on purchases for the first 12 months
Up to 3 additional cards at no extra cost

Cons

Relatively high purchase interest rate of 20.74% p.a.

Bonus points	N/A

Annual fee	$0
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	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

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally 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 currently offers a 0% purchase rate promotion for 12 months and an ongoing $0 annual fee, which could help you save money and cut back on card costs. However, it is worth noting that a relatively high 20.74% p.a. revert rate kicks in after the introductory period.

This card also features 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.

Age. You are at least 18 years old.

Required documents

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 need to verify your identity with your Australian driver's licence, Medicare card, passport, Australian birth certificate or NSW photo card.
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.
Balance transfer details. To transfer a balance(s), you'll need to provide the details of that account, including the card number.

Card benefits

0% p.a. for 12 months on purchases. Get 0% interest for up to 12 months on purchases when you apply by 28 September 2021. Interest rate reverts to the standard purchase rate of 20.74% p.a. once the promotional period ends.
$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.
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.
Balance transfer offer. Save on interest costs when paying off existing debt with balance transfer offer for up to months with no balance transfer fee. Any remaining balance after the promotional period ends is subject to the cash advance rate.
Secure shopping. You can shop online with peace of mind knowing that your account is protected by Visa Secure.
Mobile payment technology. Add this credit card to your Google Pay or Samsung Pay wallet and enjoy making contactless payments using your Android or Samsung device.

Rates & fees

Purchase interest rate. Outside of any promotions, this card charges a 20.74% p.a. variable interest rate on purchases.
Low minimum credit limit. You can keep your credit card spending in check with a minimum credit limit of $500.

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% or $2.50 (whichever is greater, capped at $150 per transaction).
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.

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6 Comments

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?

finder 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

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

finder 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

Sara
April 29, 2013

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

finder 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 activate the card.

Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

I hope this helps.

Cheers,
Jacob

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Bank of Melbourne No Annual Fee Credit Card