MyCard Rewards - Purchase and Balance Transfer Offer
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CardIQ
Fair
Overall score, out of 100 · How this works
- 0% purchase36
- Balance transfer57
- Frequent flyer36
- Rewards36
- Velocity Points36
Customer reviews
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Pros & cons
What's good
- 15 months at 0% p.a. on balance transfers, longer than the 12-month median (2% transfer fee, reverts to 22.99% p.a.).
- 15 months at 0% p.a. on purchases (reverts to 22.49% p.a.).
- Points transfer to Flybuys and Velocity Frequent Flyer.
Worth noting
- The $199 annual fee is high for a Standard card, where the typical fee is about $50.
- The 22.49% p.a. purchase rate sits in the most expensive quarter of cards (the median is 18.99% p.a.) if you carry a balance.
- 3.5% foreign transaction fee on overseas spending, at the high end of the market.
- Up to 44 interest-free days on purchases (below the 55-day median).
Card details
The basics
- Additional cardholder fee
- $90 p.a.
- Card tier
- Standard
- Card type
- Mastercard
- Card use
- Personal
- Credit limit
- $2,000 – $100,000
- Credit rating
- Good
- Rewards program
- MyCard Rewards
Eligibility
- Instant approval
- No
- Joint application
- No
- Minimum age
- 18 years old
- Minimum income
- Not specified
- Residency
- Australian citizen or permanent resident
- Temporary residents
- Not eligible
Rates & fees
Ongoing interest rates
- Cash advances
- 22.99% p.a.
- Purchases
- 22.49% p.a.
Fees
- Additional cardholder fee
- $90
- Annual fee
- $199 p.a.
- Cash advance fee
- 3.5% of the amount
- Foreign transaction fee
- 3.5%
- Late payment fee
- $30
Repayments
- Interest-free period
- Up to 44 days on purchases
- Minimum repayment
- 2% of the closing balance or $25, whichever is greater
Balance transfers
- Can't transfer from
- Coles, Kogan Money, MyCard, NAB, Qantas Money
- Limit
- Up to your available credit limit
- Period
- 15 months
- Promotional rate
- 0% p.a.
- Revert rate
- 22.99% p.a.
- Transfer fee
- 2%
While you carry a transferred balance you may not receive interest-free days on new purchases.
Introductory purchase offer
- Intro purchase period
- 15 months
- Intro purchase rate
- 0% p.a.
- Reverts to
- 22.49% p.a.
The intro rate applies to new purchases for the period shown, then reverts to the standard purchase rate.
Rewards
Earn rate
- Everyday spend
- 1.5 pts per $1
- Bonus categories
- None
- Other purchases
- None
- Overseas spend
- None
- ATO/government
- None
- Reduced rate above monthly cap
- None
- Points cap
- Uncapped
- Points expiry
- Points don't expire while your account is open and in order.
Sign-up bonus
- Bonus spend required
- —
- Sign-up bonus
- —
Transfer partners
- Flybuys
- 1 pt → 1 pt (≈ 1.5 pts per $1)
- Velocity Frequent Flyer
- 5 pts → 2 pts (≈ 0.6 pts per $1)
Where these points could take you
- Auckland
- Flying Virgin Australia non-stop, using transferred Velocity points. Economy 17,900 pts.
Flights you could book with the sign-up bonus plus a year of spending $3,000 a month on this card. One-way from Sydney or Melbourne, one adult, before taxes and carrier charges. Award prices and seat availability change.
Where this card sits vs similar cards
Compared with every other personal credit card we list that has the feature. The further right the dot, the better this card does.
Data as at October 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.
Compare side by side
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Questions and answers
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Sources
- Credit Card Compare
- Australian credit card statisticsHow CardIQ scores cards
- Issuer
- MyCard