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 Name | Myer Credit Card |
|---|---|
| Rewards Program | Myer 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 date | 31 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 Repayment | 2.5% of the closing balance or $50, whichever is greater |
| Minimum Income | $20,000 |
| Card Type | Visa |
| 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 Insurance | No |
| Available To Temporary Residents | No |
| Minimum Income | $20,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available to Temporary Residents | No |
| 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 Repayment | 2.5% of the closing balance or $50, whichever is greater |
| Late Payment Fee | $35 |
| Cash Advance Fee | 3% of amount or $5 (whichever is greater) |
| Overseas Cash Advance Fee | 3% 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 Cardholders | 1 |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | No |
| Internet Banking Transfers | Yes |
| In Branch | No |
| Yes |
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 Program | Myer One |
|---|---|
| Rewards Points per $ (VISA/MC) | 3 |
| Rewards Points per $ (VISA/MC) Cap | Uncapped |
| Points Expiry | 24 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
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.
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
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
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