Myer Credit Card Review

Earn MYER one Shopping Credits, pay no annual fee for the first year and get up to 55 interest-free days on purchases with the Myer Credit Card.

The Myer Credit Card can be used to make purchases everywhere and earns MYER one Shopping Credits for every eligible dollar spent. Myer cardholders get automatic membership to MYER one, making you privy to a range of exclusive offers and giving you VIP invites to different events. Until 31 December 2017, you can take advantage of no annual fee for the first year. In addition, there is a 0% p.a. balance transfer offer and a generous interest-free period for purchases.

Product NameMyer Credit Card
Rewards ProgramMyer One
Balance transfer rate (p.a.)0% p.a. for 14 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (20.69% p.a.)
Purchase rate (p.a.)20.69% p.a.
Offer end date31 December 2017
Annual fee$0 p.a. annual fee for the first year ($69 p.a. thereafter)
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.)20.69% 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
Minimum Monthly Repayment2.5% of the closing balance or $50, whichever is greater
Minimum Income$20,000
Card TypeVisa
Late Payment Fee$35
Foreign Currency Conversion Fee (VISA)
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.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Minimum Income$20,000
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
Annual Fee$0 p.a. annual fee for the first year ($69 p.a. thereafter)
Minimum Repayment2.5% of the closing balance or $50, whichever is greater
Late Payment Fee$35
Cash Advance Fee3% of amount or $5 (whichever is greater)
Overseas Cash Advance Fee3% of amount or $5 (whichever is greater)
Foreign Currency Conversion Fee (VISA)
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.
3% of transaction value
Additional Cardholder Fee$9 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingNo
Internet Banking TransfersYes
In BranchNo
MailYes

Pros

  • Earn 3.00 MYER one Shopping Credits per $1 spent at Myer and Myer affiliates and 1.00 Shopping Credit per $1 spent everywhere else, uncapped
  • Take advantage of a 0% p.a. interest rate on balance transfers for 14 months with no balance transfer fee
  • Doubles as the MYER one card
  • Pay no annual fee for the first year when you apply before 31 December 2017

Cons

  • Relatively high purchase rate of 20.69% p.a.
Rewards ProgramMyer One
Rewards Points per $ (VISA/MC)3
Rewards Points per $ (VISA/MC) CapUncapped
Points Expiry24 months

Myer Credit Card review

People who like shopping at Myer can find benefits from the Myer Credit Card. Issued by Macquarie Bank, this card charges no annual for the first year, offers a no-fee balance transfer, as well as MYER one Shopping Credits. You can get as many as 55 interest-free days on purchases by paying the account’s closing balance in full before the due date on each statement.

Benefits of the Myer Credit Card

  • MYER one Shopping Credits. If you’re not an existing MYER one member, you get free enrolment to the program and this card doubles as your MYER one rewards card. You earn up to 3 MYER one Shopping Credits for every dollar you spend at Myer and Myer affiliates and 1 Shopping Credit per $1 spent everywhere else, uncapped. Every 2,000 Shopping Credits you accumulate per Program Quarter will be automatically converted to a $20 MYER one Reward Card.
  • Annual fee promotion. When you apply by 31 December 2017, pay $0 annual fee for the first year on the primary and any additional cards. After the first year, the annual fee is $69 p.a. for the primary card and $9 for any additional cards.
  • Balance transfer offer. The Myer Credit Card offers a 0% p.a. p.a. interest rate for 14 months with no balance transfer fee. After the promotional period, any remaining balance accrues interest at the variable purchase rate.
  • Insurance. Complimentary Purchase Security Insurance and Wallet Guard give you peace of mind when it comes to theft or damage.
  • Platinum card availability. If your approved credit limit is $6,000 or less, you will receive the Myer Credit Card. If your approved credit limit is $6,000 or more, you will automatically receive the Myer Platinum Credit Card.

Myer Card features

  • Interest-free days. If you pay the account’s closing balance in full before the statement due date, you can get up to 55 interest-free days on purchases.
  • Credit limit. The minimum credit limit of the Myer Credit Card is $1,000.
  • Mobile payment technology. Compatible with Apple Pay and Android Pay. Also available is the Myer Credit Card app, which allows you to manage your account from your smartphone.
  • Visa payWave. To make payments under $100, tap your card at any NFC terminal and be on your way.

How to apply for the Myer Credit Card

You can apply for the Myer Credit Card online. The application should take no more than a few minutes, but before applying, establish if you meet the required eligibility criteria:

Application criteria

  • You’re an Australian resident.
  • You’re at least 18 years old.
  • You earn at least $20,000 of taxable income per year.

Required documents

  • Personal details like your name, address, phone number, date of birth and Australian driver’s license number
  • Financial details about your income, assets, expenses, and liabilities
  • Your employer’s name and contact details
  • If you are an existing MYER one member, have your membership number handy
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6 Responses

  1. Default Gravatar
    HispaniaNovember 17, 2017

    What is the difference between the Myer Visa Platinum Card and the Myer Credit Card ie in terms of reward points and fees?

    • Staff
      JonathanNovember 17, 2017Staff

      Hi Hispania,

      Thank you for your inquiry.

      As of September 1, ‘Latitude Infinity’ replaced both cards and offering a new rewards program. You will earn one Latitude point for every dollar you spend on eligible transactions with fees the same.

      You may refer to the Product Statement and Latitude Infinity Rewards for more information about fees and point system respectively.

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    MorganJune 18, 2017

    When you are a guarantor for someone who is applying for a loan, will they be able to collect information about your Myers store card, for example will they be able to find out if you have a Myers store card if they do a credit report? I need to know if that is something I need to add onto the forms as liabilities.

    • Staff
      JonathanJune 20, 2017Staff

      Hi Morgan!

      Credit cards are considered line of credit extended to you by the bank, much like a personal loan. If your lender or the bank advised you to declare them, then this must be included.

      If you need further clarification, you may talk to your lender.

      Hope this helps.

      Cheers,
      Jonathan

  3. Default Gravatar
    MargritMarch 28, 2017

    I have been a Myer one customer for many years and have purchased goods and petrol on this card but have not received a gift benefit on this card for a long time. I would like to know why this is?
    Thank you Margrit

    • Staff
      HaroldMarch 28, 2017Staff

      Hi Margrit,

      Thank you for your question.

      finder.com.au is an Australian comparison website and as such is not affiliated directly with any provider. You can contact the MYER one Customer Service Team on 13 67 17 to enquire about any potential missing gift vouchers.

      I hope this information has helped.

      Cheers,
      Harold

Credit Cards Comparison

Rates last updated November 17th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 15 months
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Fly faster with up to 2 Qantas Points per $1 spent, receive 2 yearly complimentary Qantas Club lounge invitations, plus, included travel insurance.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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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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