ME frank Credit Card – Rates and Fees

Information verified correct on December 10th, 2016
ME Bank frank Credit Card Find out more Go to site

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  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Keep interest costs low, consolidate your debt and pay no annual fee with the ME frank credit card.

The ME frank credit card is designed to be a low cost card that doesn’t charge you for features and benefits that you won’t use. It offers a annual fee and a low standard variable interest rate of for purchases, cash advances and balance transfers. It also offers up to additional cards at to extra cost.

Product NameME Bank frank Credit Card
Purchase rate (p.a.)11.99% p.a.
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)11.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Minimum Monthly Repayment3% or $10 (whichever is the greater)
Minimum Income$25,000
Card TypeMasterCard
Late Payment Fee$10
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
1.5% of transaction value
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Annual Fee$0 p.a.
Minimum Repayment3% or $10 (whichever is the greater)
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee$4 or 2% of the cash advance amount (whichever is greater)
Overseas Emergency Replacement$100
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
1.5% of transaction value
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders8

ME frank credit card review

The ME frank credit card is a low-cost product that offers the same competitive standard variable interest rate for purchases, cash advances and balance transfers. Along with having no annual fee for life, this can make it easier to manage your account and your spending.

As the frank credit card is a Mastercard, you can use it in millions of locations worldwide, and save time at the checkout with PayPass contactless payments. You can also take advantage of secure shopping with chip-and-PIN technology and Mastercard’s Zero Liability Policy.

Benefits of the ME frank credit card

  • annual fee. This card has no annual fee for life.
  • Interest-free period. When you pay your balance back in full for the previous statement period, you can take advantage of up to 55 days interest-free on purchases. The actual length of time will depend on when you make the purchase in your payment cycle, starting from the first day of your statement cycle. For example, purchases made on the first day of a new statement period will be eligible for days interest-free, the purchases made on the second day would get 54 days, and so on.
  • Additional cardholders. You can request to add up to 8 additional cardholders onto your account at no extra charge. You will still receive one statement for the account, and be responsible for all transactions and repayments.
  • Secure shopping. When you shop online, in-store, or over the phone your transactions will be protected against fraud by Mastercard’s Zero Liability Policy. This policy covers you for fraudulent transactions as long as you exercise care when making purchases, keep your account in good standing, and notify ME of the loss, theft or unauthorised use of your card immediately.
  • PIN selection. This card allows you to choose your own PIN for use when verifying in-person transactions.
  • Mastercard PayPass. Save time at the checkout by using your card to "Tap and Go" without the need for a PIN when you make purchases under $100.

Features of the ME frank credit card

Here are the key details to consider when comparing the ME Bank frank credit card.

  • Purchase rate. This card comes with a competitive purchase rate of 11.99% p.a.
  • Cash advance rate. When you withdraw money using your card or make another cash advance transaction, you’ll be charged a rate of 11.99% p.a.
  • Cash advance fee. Cash advance transactions also attract a fee worth $4 or 2% of the cash advance amount (whichever is greater).
  • Balance transfer rate. If you want to bring an existing credit card balance over to the ME frank credit card, you’ll pay a rate of 11.99% p.a. on that balance.
  • Late payment fee. If you don't pay at least the minimum by the statement due date, you'll be charged a fee of .
  • ME Bank currency conversion fee. ME Bank applies a fee of .
  • Mastercard currency conversion. This card has a Mastercard conversion fee of and a Mastercard cross-border fee of 0.8% of the amount of any transaction where the merchant account is not held in Australia. Note that both of these fees are payable to MasterCard International.

How to apply for the ME frank credit card

You can apply for the ME frank credit card online by clicking the "Go to Site" button. Before doing that, make sure you meet the eligibility criteria and have the required documents on hand for a quick application process.

Eligibility criteria

  • You must be at least 18 years of age
  • You must be an Australian citizen or permanent resident
  • You must have a good credit rating
  • You must earn a minimum of $25,000 a year

Required documents

  • Personal details. This includes your full name, date of birth, email address, mobile number, residential address, living situation and driver's licence number,
  • Employment details. This includes your position, salary and your employer's name and contact details. If your self-employed, you may need to provide your accountant's details and your previous Australian Taxation Office statements.
  • Financial information. This includes details of your income and assets (such as savings or investments), as well as any existing debts and financial commitments such as bills.

The ME Bank frank credit card is a low-cost card without any extra features. While this card has no annual fee for life and a competitive standard variable rate, other products offer these features and may include extras such as complimentary travel insurance. So make sure you compare a range of other no annual fee or low rate options to help you find a card that suits your circumstances and needs.

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176 Responses to ME frank Credit Card – Rates and Fees

  1. Default Gravatar
    Palmer | November 24, 2016

    Can you explain the ’0 month’ for complimentary travel insurance please. Does it means one gets free travel insurance by purchasing ticket with the credit card?

    • Staff
      May | November 24, 2016

      Hi Palmer,

      Thanks for your question.

      The ’0 months’ in the complimentary travel insurance information for the ME Bank frank Credit Card means that this card does not come with free international travel insurance benefits. You may need to purchase a separate insurance if you are going overseas.

      In the meantime, if you want to find out which credit cards have complimentary travel insurance benefits, please click this link.

      Hope this helps.

      Cheers,
      May

  2. Default Gravatar
    Marion | November 9, 2016

    Hi,

    Please let me know if you accept discharged bankrupts.

    Regards,
    Marion

    • Staff
      May | November 10, 2016

      Hi Marion,

      Thank you for your inquiry and for contacting finder.com.au – an Australian comparison website and general information service designed to help consumers make better decisions. We do not represent ME frank or any company we feature on our pages.

      To apply for the ME frank credit card, you must have a good credit rating. Nevertheless, please feel free to contact ME frank directly to discuss your chances approval. Other options that you may want to consider is applying for a loan, which you can find our guide here.

      Hope this is helpful.

      Cheers,
      May

  3. Default Gravatar
    Antonyhill | November 3, 2016

    I am with common wealth would you take over my credit card common wealth way to expensive

    • Staff
      May | November 3, 2016

      Hi Antony,

      Thank you for your inquiry.

      If you wish to apply for the ME frank credit card, please click on the green “Go to site” button above. Make sure to review the criteria and requirements before you apply.

      Cheers,
      May

  4. Default Gravatar
    Lucy | October 14, 2016

    Hi there,

    How much cash advance can you have at ne time? and what is the fee?
    How long till the card arrives after acceptance?
    Many thanks
    Lucy

    • Staff
      Harold | October 14, 2016

      Hello Lucy,

      1. How much cash advance can you have at ne time? and what is the fee?

      - The amount of cash advanced will vary to your credit card limit. It’s best to contact ME Bank directly to inquire your allowable limit.
      - Cash advance fee of $4 or 2% of the amount of the cash advance (whichever is greater) and other transaction fees may apply.

      2. How long till the card arrives after acceptance?

      - Once approved, you will typically receive your credit card within 1-2 weeks

      Cheers,
      Harold

  5. Default Gravatar
    rodney | October 5, 2016

    I assume pensioners need not apply

    • Staff
      May | October 6, 2016

      Hi Rodney,

      Thank you for your comment.

      ME Bank actually accepts retired and pensioners who wish to apply for ME frank Credit Card. Though you would need to provide your income details when applying. Other credit card companies that also accept pensioners are listed on this page.

      Hope that helps.

      Cheers,
      May

  6. Default Gravatar
    | September 17, 2016

    Once I have the credit card, where can I pay the balance owing without incurring fees.

    • Staff
      Jonathan | September 20, 2016

      Hi Glenn, thanks for your inquiry!

      You can repay the balance owing by logging in to your ME frank account.

      Cheers,

      Jonathan

  7. Default Gravatar
    | September 11, 2016

    Can you tell me if the ME frank card has a Foreign Currency Conversion Fee and what it is (so I can compare it to the other cards)?

    • Staff
      May | September 11, 2016

      Hi ScottG,

      Thank you for your inquiry.

      With ME frank credit card, you’ll be charged 1.5% of the amount of any foreign currency transaction converted into Australian dollars. This fee is payable to ME Bank at the time the currency conversion is made.

      Cheers,
      May

  8. Default Gravatar
    | September 10, 2016

    Balance transfer from frank to another bank card how long does frank take to put the funds back on the card ? The funds have already gone out of the other card.

    • Staff
      Ally | September 21, 2016

      Hi Jimmy,

      Thanks for your inquiry.

      Kindly note though that you’ve come through to finder.com.au, an Australian financial comparison website and general information service, not actually ME Bank.

      To find out how long it takes for ME bank to transfer funds to another bank, you can try getting in touch with them directly through the contact details that I’ve forwarded to your email.

      I hope this has helped.

      Cheers,
      Ally

  9. Default Gravatar
    | September 10, 2016

    My wife and I will be traveling overseas (Thailand) and would like to know what, if any, the fees and costs associated with your card if used for purchases and in an emergency, cash advance, if accessed from Thailand.
    Thank you

    • Staff
      May | September 12, 2016

      Hi Mike,

      Thank you for your inquiry. Just to confirm though that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually ME Bank.

      Yes, you can use your ME frank credit card in Thailand where MasterCard is accepted. However, please be aware that fees and charges may apply:

      1. International transaction fee = 1.5% of the amount of any foreign currency transaction converted into Australian dollars, payable to ME Bank at the time the currency conversion is made
      2. MasterCard conversion fee = 0.2% of the amount of any foreign currency transaction converted into Australian dollars, payable to MasterCard International at the time the currency conversion is made
      3. MasterCard cross border fee = 0.8% of the amount of any transaction where the merchant account is not held in Australia, payable to MasterCard International
      4. Cash advance fee = $4 or 2% of the amount of the cash advance you obtain (whichever is greater).

      Cheers,
      May

  10. Default Gravatar
    Fred | September 8, 2016

    How easily will I be able to CANCEL this credit card in the future? Can I CANCEL it online or via email? How much notification will I get when you introduce an annual fee?

    • Staff
      Sharon | September 21, 2016

      Hi Fred,

      Thanks for your inquiry.

      Please note that you have reached finder.com.au and not ME bank. With regards to your inquiry about the cancellation process and annual fee notifications, it would be best to contact ME bank directly at 13 15 63.

      I hope this helps.

      Sharon

Credit Cards Comparison

Rates last updated December 10th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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