MoneyMe Freestyle Virtual Mastercard
Get $250 back and shop straight from your devices with a new MoneyMe Freestyle Virtual Mastercard.
The MoneyMe Freestyle Virtual Mastercard offers $250 credit back when you spend at least $1,000 on eligible purchases within 12 months of approval.
This card is designed with online features for easy application, signing of contract, shopping, travel booking, and more. Peer-to-peer transfers will also be enabled in the near future where you can send money to a friend straight from your mobile.
Interest free period
|Product Name||MoneyMe Freestyle Virtual Mastercard|
|Purchase rate||16.99% p.a.|
|Interest-free period||55 days|
|Cash advance rate||16.99% p.a.|
|Min credit limit||$1,000|
|Max credit limit||$20,000|
|Foreign currency conversion fee||2.99%|
|Available to temporary residents||No|
- $250 credit back when you spend at least $1,000 on eligible purchases in the first 12 months
- Up to 55 days interest-free on purchases
- Has a minimum credit limit of $1,000
- Charges a 2.99% foreign transaction fee
- Charges a monthly fee if your balance is over $20
|Late payment fee||$15|
|Foreign currency conversion fee||2.99%|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
This card offers a low-to-average annual fee of $0 to $149, depending on your credit limit and MoneyMe loan rating. It has an interest rate of 16.99% p.a. which is quite competitive with everyday cards but higher than most low rate cards.
How to applyIf you meet the eligibility requirements and have the key documents and details on hand, you can apply for the MoneyMe Freestyle Virtual Mastercard online in a few minutes.
- Income. You must have a regular source of income.
- New cardholder. You must be a new cardholder to be eligible for the $250 credit back offer.
- Residency. You must be an Australian citizen, permanent resident or hold a current long term visa (12 months or more).
- Credit history. Applicants are required to have a good credit score, with no history of bad debt or payment default.
- Age. You must be at least 18 years of age.
- Personal details. You'll need to provide personal details such as your full name and address.
- Identification. You'll need to provide proof of identity such as your driver's licence or birth certificate.
- Proof of income. You'll be asked to provide proof of income and employment (such as recent pay slips).
- $250 credit. $250 will be credited back to your account when you spend at least $1,000 on eligible purchases in the first 12 months from card approval. Eligible spending covers purchases with over 1,400 participating stores. Transactions that won't count towards this spend requirement include fees, cash, cash equivalent transactions or illegal transactions, payments to charities, social service and government agencies, payments for proprietaries and sundries, streaming subscriptions, recurring payments or memberships, gambling, adult dating or escort services and refunds debited from the Freestyle Virtual Credit Account. The $250 will be paid as a statement credit to your respective Freestyle Virtual Credit Account within 3 days of meeting minimum spend criteria.
- MoneyMe Perks. This exclusive feature gives you a way to get credit back when you shop with over 1,400 partner stores, including Apple, THE ICONIC, David Jones, Myer, Cotton On, eBay and more. Just log into the MoneyMe app, browse deals, pay with your Freestyle credit card and the money will be credited back to your account.
- Peer-to-peer transfers. Transfer money to friends or your own bank account in just a few taps using your MoneyMe Freestyle Virtual Mastercard. With this upcoming feature, you can easily send money to a friend using your mobile. Note that transferring money from your credit card will count as a cash advance transaction, which attract interest charges straight away.
- Mobile payment technology. Whether you have an Android or Apple device, you can save time at the cash register and pay with the convenience of your smartphone with Google Pay or Apple Pay.
- MME app. Download this application and you will easily be able to manage your repayments and credit limits using your smartphone. You can also use its Tap n Pay feature for your online purchases.
Rates & fees
- Annual fee. This card charges an annual fee of $0 to $149, depending on your credit limit and MoneyMe loan rating.
- Monthly fee. As well as the annual fee, there is a monthly fee of $5. This will be waived if your balance is less than $20.
- Purchase interest rate. Purchases attract a 16.99% p.a. interest rate.
- Interest-free days. If you pay your balance in full by the due date on each statement, you can get up to 55 days interest-free on purchases.
- Cash advances. If you use your card to make a cash advance, such as an ATM withdrawal or a transfer between accounts, you'll be charged an interest rate of 16.99% p.a.
- Currency conversion rate. When you use your card to make a transaction in a foreign currency overseas or online, you'll be subject to the prevailing Mastercard exchange rate at the time plus a 2.99% of the transaction value.
- Minimum limit. The minimum credit limit available on the Freestyle Virtual Mastercard is $1,000.