Bank of Melbourne Amplify Signature Credit Card

Bank of Melbourne Amplify Signature Credit Card (Qantas)

What do you want this card for?
Save money
Earn points
Offer
Card features
balance transfer
purchase rate
annual fee
Apply
Bank of Melbourne Amplify Signature Credit Card (Qantas)
Apply by 02 oct 19
Bank of Melbourne Amplify Signature Credit Card (Qantas)
Up to 90,000 points Qantas points. Conditions Apply.
Reduced annual fee of $179 p.a. in the first year, currently saving you $100.
Every year get a birthday bonus with a 10% extra points of the total points earned in the previous year.
Add to comparison
6 months
0% p.a.
then 21.49%
with a 0% fee
19.74% p.a.
ongoing
$179
1st year
then $279

Pros & cons

What's good?

What's not so good?

Earn up to 90,000 points bonus Qantas points* when you spend $4,000 within 90 days from card approval. Exclusions apply.
0% p.a. for 6 months on balance transfers. Reverts to cash advance rate.
Every year get a birthday bonus with a 10% extra points of the total points earned in the previous year.
Reduced annual fee of $179 p.a. in the first year, currently saving you $100.
No cap on the number of points you can earn.
Complimentary overseas travel insurance and extended warranty insurance.
2 x complimentary airport lounge passes per year.
Exclusive Signature benefits including membership to Visa Luxury Hotel Collection.
For information about Amplify points earning rate of this card, please click here.
Overseas transactions get charged a 3% foreign transaction fee of the Australian dollar value.
Not the best points earning ratio for each dollar you spend.

Once the eligible spend requirement has been met, bonus points will be credited to your account within the next 12 weeks.

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Bank of Melbourne Amplify Signature Credit Card (Qantas)Reviewed by Yvonne Taylor

Avid Qantas Frequent Flyer points collectors will no doubt give serious consideration to the Bank of Melbourne Amplify Signature Credit Card (Qantas), especially since it comes with a host of benefits to tempt the sort of regular traveller who derives the greatest benefit from card points and rewards schemes. With a $279 annual fee (less in the first year) it’s Bank of Melbourne’s most expensive card, but since it’s easy to recoup the cost of the fee in rewards points plus complimentary insurance value, there’s more than one reason to give it a try.

Huge bonus points sweeteners

This card comes with a range of juicy benefits for new cardholders. Provided you are able to spend $4,000 in the first 90 days of holding the card, you’ll get a massive 90,000 points bonus QFF points credited to your rewards account.

The 90,000 points bonus points will put you well on the way to earning an economy reward flight to Europe or New York (120,000 points).

If you’re not already a member of the Qantas Frequent Flyer program, it won’t cost you a cent to join because Bank of Melbourne will pay the $99.50 joining fee on your behalf.

Satisfying points earning rate

You’ll earn 0.75 QFF points for every dollar you spend on eligible purchases using this card. Cash advances and balance transfers do not count as eligible purchases.

While 0.75 points per dollar is not the highest QFF points rate around, it needs to be considered in conjunction with the annual fee and the complimentary benefits provided. Also, unlike some competing cards, there is no cap on the number of points you can earn each month or year.

Birthday bonus

St. George will help you celebrate your birthday every year with an additional 10 percent of the Qantas points you earned in the previous 12 months.

So if you spent an average of $2,000 per month you’d earn 18,000 points for the year and receive 1,800 bonus points.

Ways to spend Qantas points

Although Qantas has the usual online merchandise catalogue and retail gift card and hotel accommodation options, you’ll extract far more value from your QFF points by using them for award flights with Qantas and Jetstar and their partner airlines. The higher the seat class and the longer the flight, the more value you’ll get for each point redeemed.

Perks for international travellers

  • Lounge passes: Regular travellers may be lured by the fact that the Bank of Melbourne is offering two complimentary single-visit passes every year, for entry to Qantas airport lounges.
  • Overseas travel cover: International travellers will also enjoy the complimentary multi-trip overseas travel insurance provided for the cardholder and their family, every year. It includes unavoidable trip cancellation cover and car rental excess as well as the usual emergency medical expenses and personal items insurance. Activate it by using the card for at least $500 of your pre-paid travel expenses for each trip.

Further insurance cover

Other insurance cover provided free of charge with the card will prove useful even if you never leave Australia. It includes:

  • Purchase security insurance: Four months cover against loss, theft or accidental damage, for items purchased with the card.
  • Extended warranty insurance: Doubles the manufacturer’s warranty, up to a maximum of 12 months extra cover.
  • Price guarantee cover: Purchase price difference refunded if you see your item advertised at a lower price in a printed store catalogue within 21 days of buying it with the card.
  • Rental vehicle excess in Australia, not just overseas (few cards have this cover).
  • Interstate flight inconvenience cover: For flight delays, cancellation, property loss or damage.
  • Transit accident insurance: For when you travel by plane, train, bus or ferry.

Try out the card with a first-year discount

Although the ongoing annual fee for this card is $279, you can get it for a reduced cost of $179 in the first year.

If you use your Qantas points for business class seats or long-haul flights you should be able to extract 2.0 cents of value from each point. This means you’ll recover the cost of the $279 fee in every year where you spend at least $16,970 using the card, because you’ll earn 12,727 points plus 1,273 birthday bonus points. That’s a total of 14,000 points, worth $280.

In the first year you can discount the $179 annual fee entirely, because you’ll recover it several times over with those 90,000 points bonus points.

And in every year, the lounge passes plus insurance cover also outweigh the annual fee cost.

Similar cards to consider

Before you decide, you might want to take a look at the competition.

The American Express Qantas Ultimate Credit Card offers a great points earning rate, but it comes with a hefty annual fee, as do the ANZ Frequent Flyer Black Credit Card and the Qantas points version of the Westpac Altitude Black Credit Card.

If you can manage without lounge passes and travel insurance, take a look at the no-annual-fee Qantas American Express Discovery Credit Card.

Who should consider this card?

Regular international travellers who are members of the Qantas Frequent Flyer program will be able to extract the best value from this card, with its suite of free insurance policies and the complimentary airport lounge passes. With an annual fee of $279, it’s less expensive than many of its competitors.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Single
Card tier
Black
Card type
Visa
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
Yes
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Amplify Qantas
Temporary residents
Yes

Cardholders

Additional cardholders
1
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$15,000
Maximum credit limit
$80,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit21.49% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Bank of Melbourne Amplify Signature Credit Card (Qantas) at the promotional balance transfer rate from:

  • Bank of Melbourne
  • Bank SA
  • St.George

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit 21.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.79% 21.49% p.a.
Purchases 1.65% 19.74% p.a.

Fees

Annual fee
$179 p.a.
Annual fee 2nd year
$279 p.a.
Cash advance fee
2%
Dishonour fee
$9
Duplicate statement fee
$7.50
Foreign exchange fee
3%
Late payment fee
$15
Over limit fee
N/A
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
$52.50
Transaction verification fee
$0

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
90,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Amplify Qantas
Spend required for bonus points
$4,000 in 90 days

Earning points with this card

Frequent flyer points
0.75 pts per $1 spent
Overseas earn rate
0.75 pts per $1 spent (QFF)
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
refer to "Pros" section

Additional benefits

Airport lounge access
Yes
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular any weekly income
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are allowed
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Family Tax Benefits and Parenting Payments is acceptable.
Austudy, Carer's Allowance, Child Support Payments and Foster Care Allowance are not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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