The lowdown.
About MONEYME
MONEYME is an Australian online lender established in 2013 and listed on the Australian Stock Exchange since 2019. They offer a single, virtual credit card that lets you shop online or in-store using Apple Pay and Google Pay. This digital-first approach means no physical card, just instant access to credit through your mobile device, perfect for Aussies who prefer a streamlined, modern banking experience.
Types of MONEYME credit cards
MONEYME provides one credit card option: the Freestyle Virtual Credit Card. Designed for phone-based management, this card delivers your details via the MME app as soon as you’re approved. Key features include:
- Annual fee: Ranges from no annual fee to $149, based on your credit limit, plus a monthly fee if your balance exceeds $20.
- Variable interest rates: Rates range from 18.74% p.a. to 23.74% p.a., depending on your credit score.
- Interest-free days: Get up to 55 interest-free days when you pay your balance in full by the statement due date.
Benefits of MONEYME credit cards
The MONEYME Freestyle Virtual Credit Card comes with several perks:
- Instant access: Start spending right after approval without having to wait for a card in the mail.
- Mobile payments: Add it to Apple Pay or Google Pay for fast, secure in-store taps or online purchases.
- MME app: Manage your account easily to check balances, track transactions, and access new features like peer-to-peer transfers as they roll out.
Eligibility criteria of MONEYME credit cards
To qualify for the MONEYME Freestyle Virtual Credit Card, you’ll need to tick these boxes:
- Age: Be at least 18 years old.
- Credit history: No payment defaults, bankruptcies, or serious overdue accounts. You’ll need an Equifax credit score above 600 and no declined applications in the last 12 months.
- Income: A regular source of income is essential.
- Residency: You must be an Australian citizen, permanent resident, or hold a long-term visa (valid for 12 months or more).
How to apply for a MONEYME credit card
Applying for the MONEYME Freestyle Virtual Credit Card is a breeze and fully online. Here’s the process:
- Check eligibility: Confirm you meet the income, residency, credit, and age criteria.
- Gather documents: You’ll need personal details of your full name and address, driver’s licence, birth certificate, or similar. Employment and income evidence, you can speed it up by securely linking your bank account.
- Apply online: Fill out the secure form via the MME app or website in just minutes.
- Get a response: Receive an instant decision. If approved, your virtual card is ready to use straight away.
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