Anyone can apply for a card from Bank of Melbourne and enjoy the benefits of their highly competitive interest rates and rewards.
The Bank of Melbourne of today prides itself on covering one market, doing it with local resources, and doing it well: “No one understands Victorians better.” Its focus has paid off: in 2011, it was recognised for Best Cash Management – Business Bank at the annual Australian Banking & Finance Awards. In the next five years, the bank plans to grow to over 100 branches and 300 ATMs across three regions: Melbourne, Geelong and regional Victoria. It issues several credit cards, with a variety of options designed to meet the demands of everyone from first-time credit card users to frequent flyer warriors.
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. You do not have to be a Victoria resident.
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 way in which points are earned suits the way you want to use your credit card.
On the Amplify Rewards program, points are added to your account the next working day after a transaction is posted on your account. On the Amplify Qantas program, points are applied to your account at the end of each statement cycle. 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.
If you are on the Amplify Rewards program, you need a minimum of 3,000 points before you can start redeeming them. Once you have enough points, you can log on to the Bank of Melbourne Amplify Rewards website to browse for rewards and redeem points online. You can also call Amplify Card Services and redeem points over the phone.
For Amplify Qantas, points can be redeemed either online at the Qantas Frequent Flyer internet site or over the phone.
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.
The online application process usually takes about 10 to 15 minutes to complete, and once submitted you should receive an answer straightaway. If you have supplied all the necessary information and are successfully approved, you should receive your new card via post within 10 working days.
The bank provides 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 the Bank of Melbourne’s 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 also provides business advisory services covering issues such as starting and growing businesses, cash flow and staff management.
Corporate services 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.