Earn up to 90,000 bonus points with St.George and Bank of Melbourne
New customers can look forward to bonus points beyond sign up with the Amplify credit cards.
Collecting bonus points on sign up isn’t unusual among rewards credit cards, but it’s not every day that you can expect to earn another bonus points bounty a year into owning the card. This is where the upgraded offers on the St.George and Bank of Melbourne Amplify credit cards have a competitive advantage over some of the other cards currently on the market.
Launched yesterday, if you apply for either the Amplify Signature or Amplify Platinum credit cards with St.George or BoM by 30 September 2017 and meet the spend requirements, you’ll collect bonus points both when you sign up and again on the one-year anniversary of owning the card.
As St.George and Bank of Melbourne are both owned by Westpac, you can find the identical Amplify Signature and Amplify Platinum offers with both banks. You can compare the bonus points offers that are available with both banks below:
|Card||Bonus points offer|
|Amplify Signature||Earn up to 90,000 bonus Amplify points: You’ll receive 60,000 Amplify points when you spend $3,000 in the first 90 days and an additional 30,000 Amplify points on the anniversary of your card.|
|Amplify Platinum||Earn up to 60,000 bonus Amplify points: You’ll collect 40,000 bonus points after you spend your first $3,000 in the first 90 days and an additional 20,000 after the anniversary of your card.|
Some cardholders opt for using rewards or frequent flyer credit cards only for the first year to take advantage of the introductory offers. But if you prefer to use your rewards card beyond the first year, either of the St.George Amplify credit cards could reward you for staying loyal to the card. These bonus points are on top of the 1 point per $1 you’ll earn with both the Amplify Signature and Platinum cards, so the bonus points just scrape the surface of the points potential you could have with this card.
What could I redeem my bonus points for?
If you browse the St.George or Bank of Melbourne Amplify Rewards store, you’ll notice that you can redeem your points for everything from homewares and tech gadgets to gift cards and fashion. For example, you can usually redeem 3,800 Amplify Rewards for a $20 Woolworths e-gift card. If you were using the Amplify Signature card, you could redeem your 90,000 bonus Amplify Rewards for approximately $460 worth of Woolworths e-gift vouchers.
Amplify Rewards can also be exchanged for frequent flyer points at a 1:2 exchange rate. So, you could receive 45,000 Velocity Points, Malaysia Airlines Enrich points or Singapore Airlines KrisFlyer Miles if you exchange your bonus points from the Amplify Signature card for frequent flyer rewards. So, how far could this take you? 45,000 Velocity Points could get you a Business Reward return flight from Sydney to Melbourne (usually valued at approximately $719 each way) or an Economy Reward flight from Sydney to Singapore (valued at around $632 each way). By the time you’d redeemed the maximum bonus points, you would’ve paid $558 in annual fees, so the value of the bonus points could easily help you outweigh the costs of the card.
As both of these cards have annual fees and purchase rates of 19.49% p.a., you should make sure that the monetary value of the rewards you’ll redeem can exceed the card costs to make it worth it. It’s also important to consider the minimum spend you’re required to make to collect the bonus points. They should align with your budget and you should only spend the $3,000 if you can afford to repay it without collecting interest that could offset the benefit of the bonus points.
How do they compare to other rewards credit cards?
The Amplify credit cards offer some of the most competitive bonus points deals on the market. Currently, the Signature card is only rivalled by the American Express Explorer card which offers up to 100,000 bonus Membership Rewards when you spend $1,500 in the first three months for a higher annual fee of $395. However, the Amplify Signature and Platinum products remain two of the only cards that reward cardholders with bonus points beyond the signup offer.
Bonus points shouldn’t form the basis of your comparison though, so you can use our rewards credit card guide to compare your options based on other factors including regular earn rate, annual fee, purchase rate and the other features offered on the card.
St.George and Bank of Melbourne customers can also expect their points-earning potential to change later this year. Yesterday, the bank announced that the number of points you could earn on overseas purchases with Amplify cards would be slashed by 50% come 1 July 2017. See our coverage for more information on how these points earn rates will change and how the changes relate to upcoming interchange fee regulations.