Bank of Melbourne Credit Cards

Bank of Melbourne: A Brief History

The original Bank of Melbourne was established in 1989 with branches and operations across the state of Victoria. The bank’s operations were focussed on the retail banking sector, and, as a former building society, also had a strong involvement in lending for residential property.

In 1996, Bank of Melbourne took over Challenge Bank, creating the eighth biggest bank in the country. Challenge Bank had previously been owned by Westpac, and Westpac itself acquired Bank of Melbourne in 1997. Westpac continued to use the Bank of Melbourne name, logo and brand for its Victoria operations until 2004, after which Westpac used its own name and brand for all operations.

In 2007, Westpac merged with St.George Bank and in July 2011 relaunched Bank of Melbourne. Bank of Melbourne in its redesigned incarnation commenced trading using St.George’s staff and branches in Victoria, and now operates independently of its parent company.

Bank of Melbourne Today

Bank of Melbourne only operates in Victoria and has a local focus, employing local staff and aiming to service local neighbourhoods and communities. Launched in 2011, the bank plans to enlarge over the next five years with plans for 300 ATMs and 100 branches.

The bank provides its personal customers a full suite of financial products including transaction and savings accounts, home and personal loans, insurance, investments and super, along with a range of personal credit cards.

Business customers can make use of their tailored business products including transaction and savings accounts, loans, payment solutions credit cards, super and insurance, overdrafts, line of credit and equipment finance. The bank provides a selection of business advisory services covering issues such as starting and growing businesses, cash flow and staff management.

Corporate services are also available and are customised to suit the type of business and industry with products including bank bill finance, trade finance, equipment finance, car finance, property finance, corporate finance, cash flow finance, and risk management solutions.

More Details on Bank of Melbourne’s Credit Cards

Bank of Melbourne provides a selection of credit cards with a mixture of different features including low purchase rates, low or no annual fees, rewards programs, travel and purchase protection and balance transfers. Whatever type of cardholder you are and your financial requirements, and assuming you live in Victoria, you should be able to find a Bank of Melbourne credit card to meet your requirements.

A Q&A on the Bank of Melbourne’s Credit Card Offers

Q: Which Bank of Melbourne credit card is best for me? A: This really depends on what your priorities and how you plan to use your credit card.

If you want a simple card that allows you to spend and repay over time, the Bank of Melbourne Vertigo MasterCard could be a good choice. The card has a low purchase rate, the option of a low rate balance transfer, and a relatively low annual fee. Bank of Melbourne’s Gold Low Rate and Platinum credit cards also feature competitive interest rates on purchases, plus gold and platinum level benefits including travel insurance and purchase protection.

If you want to keep the costs of using your credit card to a minimum, usually pay your monthly balance in full or use you card infrequently, Bank of Melbourne’s No Annual Fee card could be a prudent choice. You can enjoy the security and flexibility of owning a credit card with no annual charge, as its name suggests.

If you are looking for a credit card with a rewards program, Bank of Melbourne’s Amplify credit card could be the right choice for you. The card provides the option of joining one of two rewards programs, either Amplify Rewards or Amplify Qantas. With Amplify Rewards you can earn points on purchases to redeem for gift cards, appliances, leisure and entertainment, travel rewards with Amplify Travel and more. Amplify Qantas provides membership of the Qantas Frequent Flyer program with its extensive range of travel and non-travel rewards, products and services.

Q: What types of transactions earn rewards points? A: On both Amplify Rewards and Amplify Qantas rewards programs, only eligible purchases made using your credit card earn points. Balance transfers, BPAY transactions and cash advances earn no points. Refunds and charge back transactions reverse the points value of the original transaction. You should always study the program’s terms and conditions to make sure the ways in which points are earned suits the way you want to use your credit card.

Q: How long does it take for my points to be updated or transferred? A: On the Amplify Rewards program, your points are added to your account the next working day after a transaction is posted on your credit card account. If you choose the Amplify Qantas program, your points Qantas Frequent Flyer points are applied to your account at the end of each statement cycle.

Q: How can I check my rewards points? A: You can check your points balance online through the bank’s internet banking service if you are on the Amplify Rewards program, or through the Qantas Frequent Flyer website if you are on that scheme.

Q: How do I redeem my points? A: If you are on the Amplify Rewards program, you need a minimum of 3,000 points before you can start redeeming. When you have enough points you can log on to the Bank of Melbourne Amplify Rewards website, browse for rewards and redeem points online. You can also call Bank of Melbourne Amplify Card Services and redeem points over the phone.

For Amplify Qantas, Qantas Frequent Flyer points can be redeemed either online at the Qantas Frequent Flyer internet site, or by using the Qantas Frequent Flyer telephone service.

Q: What criteria do I need to meet to be eligible? A: To qualify for a Bank of Melbourne credit card you must be 18 years of age or older, a permanent resident of Australia, have a good credit history and earn above a minimum income threshold, which varies between different cards.

Q: What information do I need when I apply? A: You will need your driver’s licence number if you have one; details of your weekly income after tax; details of all of your assets, savings and investments; information on any debts including current credit cards and store accounts, repayment amounts and balance owing. If you are self-employed you will also need to provide recent tax information.

Q: How long will it take to apply and receive my new card? A: The online application process usually takes about 10 to 15 minutes to complete, and once submitted you should receive an answer straightaway to tell you whether you have been approved. If you have supplied all the necessary information and are successfully approved, you should receive your new Bank of Melbourne card post within the next 10 working days.