Keep interest costs low, consolidate your debt and pay no annual fee with the ME frank credit card.
The ME frank credit card is a low-cost card that doesn’t charge you for features and benefits that you won’t use. It offers a $0 annual fee for life and a low standard variable interest rate of 11.99% p.a. for purchases, balance transfers and cash advances. It also offers up to 55 days interest-free on purchases.
|Product Name||ME 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.
|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.
|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||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Credit Rating Requirement||Good|
|Annual fee||$0 p.a.|
|Minimum Monthly Repayment||3% or $10 (whichever is greater)|
|Late Payment Fee||$10|
|Cash Advance Fee||$4 or 2% of the amount (whichever is greater)|
|Foreign Currency Conversion Fee|
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.
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||8|
- A low 11.99% p.a. interest rate on purchases and cash advances
- $0 annual fee for life
- No rewards program, insurance or other perks
ME frank credit card review
The ME frank credit card is designed to offer affordable and straightforward access to credit, with no annual fee and a low ongoing variable purchase rate of 11.99% p.a. It also offers up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement. As the frank credit card is a Mastercard, you can use it to shop in person, online and over the phone at millions of locations around the world. You can also save time at the checkout with PayPass contactless payments and enjoy secure shopping with chip-and-PIN technology and Mastercard’s Zero Liability Policy.
Benefits and features of the ME frank credit card
Here are the most popular features of the ME frank credit card:
- $0 annual fee. This card has no annual fee for life.
- Low interest rate. The ME frank credit card has an ongoing variable interest rate of 11.99% p.a. This rate applies to purchases, balance transfers and cash advances.
- 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.
- Temporary lock protection. This card allows you to temporarily lock your card through internet banking if you ever misplace it. When you find it again, you can unblock it.
- 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.
- Mastercard Priceless Cities. Gain access to Mastercard's Priceless Cities perks and exclusive experiences.
Rates and fees of the ME frank credit card
Weigh up these costs to help you decide if the ME frank credit card is right for you.
- Cash advance fee. When you withdraw money using your card or make another cash advance transaction, you’ll be charged a fee of $4 or 2% of the amount (whichever is greater).
- Late payment fee. If you don't make at least the minimum repayment amount by the statement due date, you'll be charged a fee of $10.
- ME currency conversion fee. ME applies a fee of 1.5% of any foreign currency converted into Australian dollars.
- Mastercard currency conversion. This card has a Mastercard cross-border fee of 0.8% of the amount of any transaction where the merchant is not held in Australia. Note that this fee is payable to Mastercard International.
How to apply for the ME frank credit card
You can apply for the ME frank credit card online in around 5–10 minutes. To get started, make sure you meet the eligibility criteria and have the required documents and details on hand for a quick application process.
- How old are you? You must be at least 18 years of age.
- What is your Australian residency status? You must be an Australian citizen or permanent resident.
- What is your credit score? You must have a good credit rating.
- Do you earn at least $25,000? You must earn a minimum of $25,000 a year to apply for this card.
- Personal details. This includes your full name, date of birth, email address, mobile number, residential address, living situation and driver's licence number or passport.
- 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 rewards and 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