Myer Credit Card

Last updated: Jun 5, 2020

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.

You can use the Myer Credit Card to make purchases and earn Myer one Shopping Credits per $1 spent on eligible purchases. You can redeem your credits for Myer one Reward gift card to save on your next shopping spree. When you apply for the Myer Credit Card, you can save with a $0 annual fee in the first year and 0% p.a. interest on balance transfers for 14 months.

0% p.a.

Balance transfer rate

for 14 months

0% p.a.

Purchase rate

for the first 6 months (reverts to 20.69% p.a.)

Reward points

Per $ spent

$0 p.a.

Annual fee

for the first year ($69 p.a. thereafter)

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Details

Product Name	Myer Credit Card
Rewards program	Myer One
Balance transfer rate	0% p.a. for 14 months
Balance transfer revert rate	Purchase Rate (20.69% p.a.)
Purchase rate	0% for 6 months, reverts to 20.69% p.a.
Annual fee	$0 annual fee for the first year ($69 p.a. thereafter)
Interest-free period	55 days
Cash advance rate	20.69% p.a.
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3%

Minimum income	$30,000
Available to temporary residents	No
Joint application	No

Pros

Up to 3 Myer one Credits, uncapped.
0% p.a. interest rate on balance transfers for 14 months with no balance transfer fee
No annual fee for the first year
0% interest for 6 months on eligible purchases at Myer

Cons

The balance transfer reverts to relatively high purchase rate after the introductory period.

Rewards program	Myer One
Rewards points per $ spent	3

Annual fee	$0 annual fee for the first year ($69 p.a. thereafter)
Minimum monthly repayment	2.5% of the closing balance or $50, whichever is greater
Late payment fee	$35
Foreign currency conversion fee	3%
Cash advance fee	3% or $5, whichever is greater
Overseas cash advance fee	3% or $5, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	1

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The Myer credit card is suited to loyal Myer shoppers who want to reward their spending with savings at the checkout. It’s the only credit card that earns Myer one Shopping Credits, which you can redeem for Myer one Rewards cards. You can also save with 0% interest for 6 months on eligible purchases at Myer.

As well as rewards, this card offers cost-saving features with a $0 first-year annual fee and 0% p.a. on balance transfers for 14 months. You won’t earn any Myer one Shopping Credits on your balance transfer and you should aim to pay it off in full before the revert rate applies.

How to apply

You can apply for the Myer Credit Card online as long as you meet the eligibility criteria and have the necessary details to complete the application.

Eligibility criteria

Income. You must earn at least $30,000 of taxable income per year.
Credit history. You'll need to have a good credit score and history.

Residency. You're an Australian resident.
Age. You're at least 18 years old.

Required documents

Personal details. Including your name, address, phone number, date of birth and Australian driver's license number.
Finances. Confirm your annual income, monthly expenses, assets (such as savings, super and property) and liabilities (including other credit cards, loans and mortgages).
Employment. Confirm your current occupation and provide your employer's name and contact details.
MYER one number. If you are an existing MYER one member, have your membership number handy.

Card benefits

MYER one Shopping Credits. If you're not an existing MYER one member, you'll 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.
Interest-free Myer shopping. You can save with 0% interest on purchases for 6 months from Myer when you spend $250 or more in a single transaction. The standard purchase rate will apply after that.

No annual fee for the first year. When you apply, you get a $0 annual fee for the first year. After the first year, the annual fee is $69 for the primary cardholder. For additional cardholders, the annual fee is $0 in the first year ($9 p.a. thereafter).
Balance transfer offer. You can repay an existing debt with no interest with 0% p.a. interest rate for 14 months with no balance transfer fee. After the promotional period, any remaining balance accrues the 20.69% p.a. purchase interest rate.
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.
Security. You won't be held responsible for unauthorised charges or fraudulent transactions thanks to Visa's zero liability policy.
Mobile wallets. You can use your smartphone to tap and pay when you link your account to Google Pay and Apple Pay.

Rates & fees

Annual fee. Outside of any promotions, this card charges a $69 annual fee.
Purchase rate. Your purchases will attract a 20.69% p.a. interest rate.

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. You won't be eligible for interest-free days if you're paying off a balance transfer debt.
Credit limit. The minimum credit limit of the Myer Credit Card is $1,000.

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