Bank of Melbourne Amplify Platinum Credit Card

Bank of Melbourne Amplify Platinum Credit Card (Qantas)

What do you want this card for?
Save money
Earn points
My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Bank of Melbourne Amplify Platinum Credit Card (Qantas)
Apply by 02 oct 19
2 reviews
Bank of Melbourne Amplify Platinum Credit Card (Qantas)
Earn 60,000 Qantas bonus points. Conditions Apply.
Flexibility to choose the rewards programs that better suits you.
No cap on the number of points you can earn.
Add to comparison
Amplify Qantas
Amplify Qantas
0.5 pts
per $1 spent
60,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

Earn 60,000 bonus Qantas points when you spend $2,000 within 90 days from card approval. Exclusions apply.
0% p.a. for 6 months on balance transfers. Reverts to cash advance rate.
Flexibility to choose the rewards programs that better suits you.
No cap on the number of points you can earn.
Complimentary overseas travel insurance and extended warranty insurance.
Get an extra card for an additional cardholder at no extra cost.
For information about Amplify points earning rate of this card, please click here.
Not the best points earning ratio for each dollar you spend for Qantas.
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.

Our review

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

Would you pay $20 per year to be covered by overseas travel insurance, extended warranty insurance, purchase protection insurance and transport accident insurance? Of course you would. That small extra amount is all you’ll pay to get this wide-ranging insurance cover when you choose the Bank of Melbourne Amplify Platinum Credit Card rather than sticking with the Amplify Credit Card, the slightly less expensive, non-platinum version. In addition, you’ll receive several 'welcome aboard’ extras in the first year.

Very reasonable fee for a platinum card

The annual fee is $99 p.a., which makes it exceptional value compared with the already reasonable $79 charged for the Amplify card. But why just compare it with its Bank of Melbourne stablemates? With the exception of the HSBC Platinum Credit Card and the ANZ Rewards Platinum Credit Card (neither of which offer the opportunity to earn Qantas Frequent Flyer points) this is the lowest annual fee you’ll pay for a platinum card combining both rewards points and insurance.

Platinum card insurance benefits

Let there be no mistake about this: $99 p.a. per year does not buy you the best of the best. The Bank of Melbourne has created two distinct tiers of insurance benefits, and the Amplify Platinum card is a 'Level 2’ card, not qualifying for quite the same extensive benefits as a 'Level 1’ card. (Level 1 cards include the much more expensive Amplify Signature Card and the Vertigo Platinum card.) Even so, the insurance cover is very worthwhile, and the following policies are provided:

  • Overseas travel insurance for the cardholder and accompanying family members, for trips of up to three months’ duration. It covers such items as emergency medical expenses, unexpected cancellation of your trip and rental vehicle excess, as well as insuring your belongings against theft, loss or damage. In order for each family member to be covered, you’ll need to use the card for at least $500 of each person’s individual prepaid travel expenses, not just $500 of the primary cardholder’s or group’s expenses.
  • Extended warranty insurance, doubling the existing manufacturer’s warranty up to a maximum of 12 extra months, provided you bought the item with the card.
  • Purchase security insurance, giving three months of cover against loss, theft or accidental damage for items bought with the card. There’s a generous 12 month claim limit of $125,000.
  • Transport accident cover for you and your family when travelling as passengers in trains, buses, ferries and planes while overseas, providing each person’s fare was paid with the card.

Level 2 cards like this one receive lower compensation amounts and have lower claim limits and shorter periods of cover than the Level 1 cards, but the cover provided is still very comprehensive. You will, however, need to choose a Level 1 card if you want cover for rental vehicle excess in Australia, interstate flight inconvenience or purchase price guarantee.

Don’t forget the rewards points

Yes, you do get insurance and rewards points for your $99 p.a. annual fee. You even get a choice of rewards, with both the bank’s Amplify Rewards program and the Qantas Frequent Flyer program on offer. You will need to make an initial choice, and cardholders with an eye on value returned per dollar spent will want to opt for QFF points and redeem them for Qantas flights or upgrades. (The bank will pay your $89.50 QFF joining fee if you’re not already a member.) However, you can switch between the programs at any time, and as often as you like, but you can’t transfer across the points you already earned.

Generous bonus points to get you started with a bang

No matter which rewards program you choose, you’ll enjoy the 60,000 points which will come your way if you can manage to spend $2,000 in the first three months of holding the card. That’s an average of only $667 per month.

Those 50,000 points are more than enough for three economy return flights between Melbourne and Sydney (48,000 QFF points) or $225 worth of retail gift cards (49,950 Amplify points).

Unexceptional points earning rate

However, the ongoing earning rate of 1.0 Amplify points or 0.5 QFF points per dollar isn’t particularly inspiring – again, look at a more expensive card if a higher earning rate is what you’re looking for – but the points will still mount up surprisingly quickly.

Importantly, there is no monthly or annual points cap, a pleasant surprise when compared with many competing rewards cards which have points caps or thresholds to restrict your earning rate.

Redeeming points

As previously mentioned, Qantas award flights and flight upgrades purchased with QFF points are probably the most financially rewarding way of using points, but if you have more points than you can sensibly use for flights, or no need for air travel, there are lots of other things you can do.

You can redeem your Amplify points for such items as shopping cards at major retail outlets, movie tickets, household appliances, technology, beauty products, clothing, and even donations to your favourite charity. Through Amplify Travel you can exchange points for domestic and international flights, nights in hotels, car hire, weekends away and longer holiday packages. If you are a member of a frequent flyer program at Virgin Australia, Malaysia Airlines or Singapore Airlines, you can convert your Amplify points to frequent flyer points. (The current exchange rate is 2 Amplify points = 1 frequent flyer point.)

Qantas also has an online store, so as well as using your QFF points for Qantas, Jetstar and partner airline flights and upgrades you can also choose to swap them for merchandise and experiences. The usual range of goods is available, including hotel stays, car hire, gift cards, insurance, toys, TVs, toasters, and so on.

Other extras in the package

A Visa Platinum cardholder automatically has access to the Visa Platinum concierge service. Help and advice is available by phone or online, for booking travel, entertainment, dining and any other platinum lifestyle experience you can think of.

Verified by Visa protects you with one-time passwords via SMS when you’re shopping online, providing an extra layer of security on top of the 24/7 Falcon Fraud Monitoring.

A look at the competition

The HSBC Platinum Credit Card offers both rewards points and a range of insurance policies, and currently refunds the annual fee in any year where you meet a low target spending amount.

If you want to be able to switch between conventional rewards points and QFF points, and are prepared to pay a higher annual fee, take a look at the Westpac Altitude Platinum Credit Card.

An ideal card for . . .

. . . anyone who travels overseas regularly but still expects value for money. The Bank of Melbourne Amplify Platinum Card is the perfect traveller’s card, providing overseas travel insurance including car rental excess, the opportunity to switch between QFF and Amplify points, and generous bonus points. It manages to do all this while charging an annual fee below the $100 mark.

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.

User reviews

5.0 out of 5.0 based on 2 reviews100% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Use it for everything to earn more points

Reviewed and recommended by Monica on 30 Sep 2016

I don’t pay an annual fee for the credit card as it’s part of my home loan package, and this is for the life of the loan.

I have all my direct debits coming out of this card, as well as grocery shopping, etc, so I can earn as many points as possible to redeem for flights or other items.

Helpful staff

Reviewed and recommended by Monica on 18 Jul 2016

Staff members in my branch are very helpful and made the process very easy. I have my credit card linked to Qantas points and the annual fee is waived as part of my home loan advantage package. I also receive complimentary travel insurance through the credit card, which is very helpful.

Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Platinum
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
$6,000
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 Platinum 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
$99 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
60,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Amplify Qantas
Spend required for bonus points
$2,000 in 90 days

Earning points with this card

Frequent flyer points
0.5 pts per $1 spent
Overseas earn rate
1 pt 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 "Pro" section)

Additional benefits

Airport lounge access
No
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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