ME frank Credit Card – Rates and Fees

Information verified correct on April 24th, 2017

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 $0 annual fee and a low standard variable interest rate of 11.99% p.a. for purchases, cash advances and balance transfers. It also offers up to 8 additional cards at no extra cost.

Product NameME 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 InsuranceNo
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
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes

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 55 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 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 $10.
  • ME currency conversion fee. ME applies a fee of 1.5%.
  • Mastercard currency conversion. This card has a Mastercard conversion fee of 0.2% of the amount of any foreign currency transaction 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 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.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

191 Responses to ME frank Credit Card – Rates and Fees

  1. Default Gravatar
    LG | March 18, 2017

    I applied for the ME Frank card on Thursday and was conditionally approved on Friday. I was surprised at how quick the process was once I ticked the box for ME to do a Veda check. With finder.com.au I was able to compare all credit cards and make an informed decision including the fact that I had not heard of the ME Frank card before. I am very happy with my decision. Thanks.

  2. Default Gravatar
    | March 10, 2017

    do you have branches and what do I need to get account and also is credit card included

    • Staff
      Anndy | March 10, 2017

      Hi Gil,

      Thanks for your question.

      ME Bank has no branch network. They provide services and customer support online or over the phone.

      If you are looking to apply for ME frank Credit Card, you can check the eligibility criteria and requirements to apply in the above page.

      Cheers,
      Anndy

  3. Default Gravatar
    DB | February 27, 2017

    Why did I fail a credit check, was it my dispute with OPTUS? The Communications ombudsman dealt with this issue and OPTUS agreed I would not have an adverse credit as the problem was their fault. I have an impeccable credit record have a substantial assets in my new home being built in Diggers Rest by Burbank Homes and the only reason I applied for an ME credit card is that I wanted the no fee option.

    • Staff
      May | March 9, 2017

      Hi DB,

      Thank you for your inquiry.

      Basically, Veda calculates your credit score using the information on your credit file, so any good or bad information listed will affect it. You may like to read more about good credit scores here and bad credit scores on this page.

      Cheers,
      May

  4. Default Gravatar
    Lucy | February 13, 2017

    Hi,
    re the 1.5% conversion fee for overseas purchases, does this include purchases through PayPal?
    Thanks,
    Lucy

    • Staff
      May | February 15, 2017

      Hi Lucy,

      Thank you for your question and for contacting finder.com.au – we financial comparison website and general information service designed to help consumers make better decisions. Please note that we are not affiliated with any company we feature on our site.

      With ME frank credit card, you will be charged an international transaction fee of 1.5% of the amount for any foreign currency transaction converted into Australian dollars. So if your Paypal purchases are in foreign currency, then yes, the 1.5% fee is applicable. Furthermore, this fee is payable to ME Bank at the time the currency conversion is made.

      Cheers,
      May

  5. Default Gravatar
    Lisa | January 26, 2017

    Is it possible to apply for a balance transfer with this card?

    • Staff
      Anndy | January 26, 2017

      Hi Lisa,

      Thanks for your question.

      Yes, ME frank Credit Card accepts balance transfer, however, you’ll pay a rate of 11.99% p.a. on that balance.

      Cheers,
      Anndy

  6. Default Gravatar
    ian | January 19, 2017

    Hi,
    I live in a remote area with no postal service only a PO box I noticed you wont accept a PO box is there anyway around this?

    • Staff
      May | January 19, 2017

      Hi Ian,

      Thanks for your question.

      Just to confirm, are you in the process filling out the application for the ME frank Credit Card? If so, your address is very significant to your application as part meeting the bank’s requirements. You’d be best to contact ME frank to get advice how you could work this out.

      Cheers,
      May

  7. Default Gravatar
    joseph | January 16, 2017

    Hi,

    Can I set up a monthly “pay in full” function to automatically pay off the credit card in full using a savings account from another bank?

    Thanks

    • Staff
      May | January 16, 2017

      Hi Joseph,

      Thanks for your question.

      Yes, you can set up a direct debit payment from a nominated bank account to pay your ME credit card account. You can choose from the following monthly payment options:

      1. The minimum monthly repayment
      2. Account paid in full each month
      3. A set percentage of the monthly statement amount
      4. A set monthly amount

      Cheers,
      May

  8. Default Gravatar
    Dilek | January 8, 2017

    Hi,
    Can i use the low rate ME Frank credit card for any online shopping? I.e is it recognized everywhere in Australia? And how safe is it from being hacked? and if it is hacked do i get my full refund?
    Thanks
    p.s i have never applied for a credit card please assist me further. I am a single parent with a part time job and require no travel awards.

    • Staff
      Anndy | January 11, 2017

      Hi Dilek,

      Thanks for your question.

      Yes, you can use ME frank credit card when shopping online, however, if the merchant is from overseas, you’ll incur foreign currency conversion fee of 1.5% of transaction value.

      If you are new to credit cards, you may want to first read our guide on this page before submitting an application.

      Additionally, if you are a single-parent, there are other credit card choices here.

      Cheers,
      Anndy

  9. 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

  10. 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

Credit Cards Comparison

Rates last updated April 24th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) 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
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. Go to site More info

* 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.

Ask a question
feedback