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: 
$1,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Bank of Melbourne Amplify Platinum Credit Card (Qantas)
Apply by 02 jun 20
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.

The interest free period is the maximum number of days during which interest is not charged on new purchases. If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.
Joint applications are limited to branch and customer care only. Currently, the bank is not accepting balance transfer requests with joint applications.

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 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 (Qantas) rather than sticking with the plain 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, 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 Qantas Credit Card and the Qantas Premier Everyday Card, this is the lowest annual fee you’ll pay for a platinum card combining both Qantas Points and travel insurance.

Platinum card insurance benefits

Let there be no mistake about this: $99 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 Qantas points

Yes, you do get insurance and Qantas Points for your $99 annual fee. The bank will pay your $99.50 Qantas Frequent Flyer program joining fee if you’re not already a member.

Generous bonus points to get you started with a bang

You’ll enjoy the 60,000 bonus Qantas Points which will come your way if you can manage to spend $2,000 in the first 90 days of holding the card. That’s an average of only $667 per month.

Those 60,000 points are more than enough for seven one-way Economy flights between Melbourne or Brisbane and Sydney (56,000 QFF points) and enough for five one-way Economy flights between Melbourne and Brisbane (60,000 points).

Unexceptional points earning rate

However, the ongoing earning rate of 0.5 Qantas Points per dollar isn’t particularly inspiring – again, consider 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

Qantas award flights and flight upgrades purchased with QFF points are almost certainly 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.

Qantas 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.

Standard credit card interest rates and interest-free days

There’s nothing exceptional about this card’s interest rates charged on purchases balances not cleared by the due date (19.74% p.a.) or on cash advances (21.49% p.a.). Don’t choose this card if you don’t plan to repay your purchases balance in full every month – look for a low interest rate card instead.

The number of interest-free days allowed each month on purchases (up to 55) is also fairly standard, but notably more generous than the many cards offering only up to 44 interest-free days per month.

A balance transfer offer if you need it

You can even bring across a balance from your existing credit card if you want to get your hands on this card’s features right away, and you’ll pay no interest on the transferred amount for six months, with no upfront transfer fee. Do be aware, though, that you’ll forfeit your monthly interest-free days on purchases while you have an unpaid balance transfer on your account.

An extra in the package

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

Before you make up your mind, check out the HSBC Platinum Qantas Credit Card and the Qantas Premier Everyday Credit Card, both of which are fairly similar to this one.

The Bank of Melbourne Amplify Platinum Credit Card (Qantas) is an ideal card for . . .

. . . anyone who travels overseas regularly but still expects value for money. It’s the perfect traveller’s card, providing overseas travel insurance including car rental excess, as well as generous bonus points. It manages to do all this while charging an annual fee below the $100 mark. There’s also no extra charge for an additional cardholder on the account, to help you earn those valuable Qantas Points more quickly.

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
No

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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