BankSA Amplify Signature Credit Card (Amplify) | Review & Compare

BankSA Amplify Signature Credit Card (Amplify)

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Save money
Earn points
Offer
Card features
balance transfer
purchase rate
annual fee
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BankSA Amplify Signature Credit Card (Amplify)
Apply by 02 oct 19
BankSA Amplify Signature Credit Card (Amplify)
Up to 200,000 points bonus Amplify points (conditions apply).
Reduced annual fee of $179 p.a. in the first year, currently saving you $100.
Enjoy 0% p.a. for 6 months with 0% fee on Balance Transfers.
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 200,000 points bonus Amplify Rewards Points* over 2 years when you spend $12,000 on eligible purchases each year. Exclusions apply.
Reduced annual fee of $179 p.a. in the first year, currently saving you $100.
Enjoy 0% p.a. for 6 months with 0% fee on Balance Transfers requested at new card application. Rate reverts to cash advance rate.
Receive a birthday points bonus of 10% of the points earned in the last 12 months.
Flexibility to choose Amplify Qantas or Amplify Rewards as your rewards program. Amplify points can be redeemed through Virgin Australia’s Velocity, Malaysia Airlines’ Enrich and Singapore Airlines’ KrisFlyer.
Enjoy two complimentary airport lounge passes per year upon enrolment.
International travel insurance for trips up to 6 months for you and your family including medical expenses, unexpected trip cancellation and rental vehicle excess.
For information about Qantas points earning rate of this card, please click here.
Foreign transaction fee of 3% of the Australian dollar value of each foreign transaction.

*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 BankSA Amplify Signature Credit Card (Amplify)Reviewed by Yvonne Taylor

Bonus number one: Up to 200,000 Amplify Rewards first-purchase points.

Bonus number two: 10% of the points earned in the previous 12 months, every time your birthday comes around.

Bonus number three: Two Priority Pass lounge visits, absolutely free, every year.

Bonus number four: A 0% balance transfer offer

Bonus number five: Reduced annual card fee in the first year.

That’s five bonuses up for grabs with the BankSA Amplify Signature Credit Card (Amplify), extras that make an already attractive card even more appealing.

Let’s take a look at the details.

Earn ongoing points in BankSA’s Amplify Rewards program

Every dollar you spend by using this card for eligible purchases will earn you 1.5 Amplify Rewards points. (‘Eligible purchases’ essentially means all purchase transactions but excluding cash or cash equivalents, such as cash advances, balance transfers, interest charges, card fees and purchases of foreign currency.)

There’s no threshold beyond which the points earning rate declines, and no cap on the number of points you can earn. That’s yet another bonus when compared with the many cards which limit points earning by imposing a cap or threshold.

Bonus One: Easily add 200,000 points to your haul

Under normal circumstances, you’d need to spend $66,667 to earn 100,000 points, which could take a couple of years. But in that same two years, you’ll receive 100,000 bonus points each time you spend at least $12,000 on eligible purchases in 12 months. If you miss the target in the first year you can still qualify in the second year, but at an average spend of just $1,000 per month, it’s an amount that most Signature cardholders will have no trouble reaching. A 200,000-point bonus is a great way to kickstart your Amplify points account.

Bonus Two: Bump up your balance even further with the birthday bonus

BankSA will make your birthday even happier every year by giving you an extra 10% of the points you earned in the previous year. Spend, say, $2,000 per month, earning 36,000 points for the year, and receive an additional 3,600 points for doing absolutely nothing. This happens not just in the first year, but every year.

Lots of points redemption options

Exchanging Amplify points for retail gift cards or airline frequent flyer points are among the most popular forms of points redemption, but you’re not limited to those two. Most options are covered in this list:

  • Retail gift cards: Swap points for gift cards to use at national retailers like Woolworths, David Jones, Myer, Bunnings, Target, Caltex and lots more, starting at 4,450 points for a $20 card.
  • Frequent flyer points: Convert 1,000 Amplify points into 500 Virgin Velocity points, or 500 Singapore Airlines KrisFlyer Miles or 500 Malaysia Airlines Enrich points.
  • Merchandise: Browse the online catalogue for kitchenware, homewares, fashion and beauty, technology, toys and sporting goods.
  • Movie tickets: Turn your points into a night at the movies, for example, two Event adult passes for 5,625 points.
  • Other entertainment experiences: Climb Brisbane’s Story bridge for 25,500 points, or take a Jet Pack or Flyboard flight for 34,575 points.
  • Book travel through Amplify Travel: Use Points + Pay for a great deal on your next holiday.
  • Donate to your favourite charity: Starting at 3,400 points for a $20 donation

Bonus Three: relax in comfort before you fly with two Priority Pass lounge visits each year

Those 200,000 bonus points would translate into 100,000 Velocity points, almost enough for two economy return flight from Sydney to Singapore (111,200 points). And you could enjoy your trip even more by taking advantage of two single entry passes to Priority Pass lounges each year. The great thing about the 1,200+ lounges in the Priority Pass program is that you can use them no matter which airline you are flying with.

Wide-ranging complimentary insurance cover

The only reason for not including the complimentary insurance cover in the list of card bonuses is that free insurance is now pretty standard with premium cards like this one. But to make the most of it you need to be aware of what is covered, so that you can not only save money on policies you actually need (like overseas travel cover) but also take advantage of cover you may not think you need, but which is very handy in the event that you have to make a claim (such as interstate flight inconvenience cover, rental vehicle insurance excess waiver, transit accident insurance, extended warranty cover, purchase security insurance and best price guarantee cover).

Don’t dismiss the more obscure policies because you think you’ll never need to make a claim. Take time to familiarise yourself with the insurance cover terms and conditions, and then get used to paying with your card for all your travel expenses and major purchases, in order to activate the policies and gain extra peace of mind.

Bonus Four: 0% on balance transfers for six months

OK, so it’s not one of the longer balance transfer promotional interest periods currently on offer, but if you have a bit of credit card debt you’d like to get rid of, here’s your opportunity to make a serious attempt to pay it off in six months, knowing that none of your repayment dollars are being eaten up by interest charges. Nor will they be eroded by an upfront balance transfer fee, because there isn’t one.

But remember that you’ll lose your interest-free days on purchases while you have an unpaid balance transfer on your account, which could make it more difficult to reach the bonus points spending target without incurring interest costs on purchases.

Not-so-great interest rates

The card’s high interest rates – 19.74% p.a. for purchases unpaid beyond the up to 55 interest-free days allowed, and 21.49% p.a. applied immediately to cash advances – definitely do not fall into the bonus category.

But if you avoid cash advances, and always pay off your purchase balance in full each month (two habits which will allow you to take maximum advantage of a premium rewards card like this one) you need never pay a cent in interest.

Bonus Five: Reduced annual fee in the first year

The annual fee for this card is $279, pretty standard for a high-end rewards card and much lower than many competing cards. But in the first year you’ll pay only $179, saving $100.

In the second year, you’ll pay the full fee but very likely earn the second lot of 100,000 bonus points, and in subsequent years you’ll still always come out ahead with the combination of rewards points, birthday bonus points, airport lounge passes and complimentary insurance cover. The insurance cover alone is worth an estimated $1,300 per year if you are a regular traveller and also use your card for major purchases.

Check out other cards before you decide

There are other premium rewards cards with comparable benefits that you might want to consider. On our ‘All rewards’ page in our Features section, you’ll find cards like the American Express Explorer Credit Card, the ANZ Frequent Flyer Black Credit Card and the Westpac Altitude Black Credit Card, with all their features explained.

You may decide on this card for its many bonuses

After you’ve checked out the competition, there are lots of reasons why you may still select this card as the one that suits you most. It’s packed with bonuses for travellers and bigger spenders, not just in the first year but every year, and – perhaps best of all – it’s relatively inexpensive to try out for size in the first year.

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 Rewards
Temporary residents
N/A

Cardholders

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

Credit limits

Minimum credit limit
$15,000
Maximum credit limit
$75,000

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
N/A
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 BankSA Amplify Signature Credit Card (Amplify) at the promotional balance transfer rate from:

  • Bank of Melbourne
  • Bank of Melbourne Blog
  • 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
$2.50
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
200,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Amplify Rewards
Spend required for bonus points
$12,000 each year for 2 years

Earning points with this card

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

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 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
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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