- $0 annual card fee for the first year. $89 annual card fee thereafter
- 2 Amplify Points or 1 Qantas Point per $1 spent on Overseas purchases
- 1 Amplify Point or 0.5 Qantas Points per $1 spent on Australian purchases
- 0.5 Amplify points or 0.25 Qantas points per $1 spent on government payments
- Get up to 3 additional cardholders at no extra cost
- Up to 55 days interest free on purchases
- Simplified tax reporting
- Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance
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Bank of Melbourne Credit Cards
Bank of Melbourne Amplify Business Credit Card
Updated 24 February 2023
Choose to earn points between two rewards programs - Amplify or Qantas on your business spending. Save with $0 annual fee for the first year special offer, up to three additional cardholders at no extra cost additional and, up to 55 days interest free on purchases. Enjoy complimentary insurance covers and simplified tax reporting.
T&Cs apply.
Points Earn Rate (per $1 spent)
1 point
AmplifyRewards Program
Amplify Rewards
Bonus Points
N/A
Pros and cons
- Ongoing purchase rate of 19.49% p.a.
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Editor Review
Bank of Melbourne Amplify Business Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The Bank of Melbourne Amplify Business Credit Card
Providing the choice of two rewards programs, the Bank of Melbourne Amplify Business Credit Card allows you to earn either Amplify Points or Qantas Points on your business spending. As a special offer, you will pay $0 annual fee for the first year.
What we love...
You have the choice of two rewards programs, so it’s a good idea to weigh up your options to see which one would work best for your spending. With both programs, you can enjoy uncapped points earning.
Opting for Amplify, you can earn frequent flyer points through Malaysia Airlines' Enrich program and Singapore Airlines' KrisFlyer program. You can also redeem points for travel, on flights, accommodation, car hire and holiday packages through Amplify Travel, or for gift cards and merchandise.
You will earn:
- 2 Amplify Points per $1 spent on overseas purchases
- 1 Amplify Point per $1 spent on purchases in Australia
- 0.5 Amplify Points per $1 spent on government payments
Choosing Amplify Qantas, you will have access to one of the most popular frequent flyer programs in Australia, allowing you to redeem points for Classic Award flights on Qantas and 35 partner airlines, for Qantas and Jetstar Any Seat Award flights, for upgrades on eligible Qantas flights when available, and on more than 3,000 products, experiences and vouchers from the online Qantas Store.
You will earn:
- 1 Qantas Point per $1 spent on overseas purchases
- 0.5 Qantas Points per $1 spent on purchases in Australia
- 0.25 Qantas Points per $1 spent on government payments
Providing you with awesome value in the first year, you will pay no annual fee on this card. After the first year, the annual fee is very reasonable for this type of card, plus you can add up to three additional cardholders to the account. Bear in mind, as the primary account holder of this personal liability card, you are responsible for all cardholders’ spending.
What’s not so great...
The main point to keep in mind with the Bank of Melbourne Amplify Business Credit Card is its purchase rate. Like many rewards cards, it has a fairly high rate of interest. To make the most of everything the card has to offer, it’s best to keep interest costs to a minimum by clearing the balance by the due date each month.
Why should you choose this card?
If you want to earn rewards on your business spending, this could be the card for you. The Bank of Melbourne Amplify Business Credit Card offers excellent flexibility in its choice of two rewards programs.
In terms of extras, there are some handy features to enjoy, including Transit Accident Insurance and Unauthorised Transaction Insurance. You could also benefit from simplified tax reporting, with the option to export expenses directly into MYOB and BAS. Meanwhile, you could manage cash flow more efficiently with up to 55 days interest free on purchases when you pay the closing balance by statement due date each month.
Overall Rating
A flexible rewards card with an excellent intro offer, the Bank of Melbourne Amplify Business Credit Card allows you to earn Amplify or Qantas Points on your business spending, with $0 annual fee in the first year.
User reviews
Rates and fees
Interest rates
Purchase rate 19.49% p.a.
Cash advance rate 20.24% p.a.
Interest free period on purchases up to 55 days
Credit limits
Minimum credit limit $1,000
Maximum credit limit N/A
Fees & repayments
Annual fee $89 p.a.
Additional cardholder fee Up to 3 - $0 p.a.
Foreign transaction fee 3%
Minimum repayment 2% or $10, whichever is greater
Annual fee the first year $0
Cash advance fee 3%
Late payment fee $0
Rewards and points
Rewards program
Rewards Program
Amplify Rewards
Bonus points N/A
Annual points cap uncapped
Bonus points spend criteria N/A
Earning points with this card
Amplify Rewards points 1 point per $1 spent
Points cap per month N/A
Overseas earn rate 2 points per $1 spent
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance Yes
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Extras
Unauthorised Transaction Insurance
Overview
Bank of Melbourne Amplify Business Credit Card
With the Bank of Melbourne Amplify Business Credit Card you can choose to earn Amplify Points or Qantas Points.
Disclaimer: 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.
Key features
- Choice to earn Amplify Rewards points or Qantas Points
- 2 Amplify Points or 1 Qantas Point per $1 spent on Overseas purchases
- 1 Amplify Point or 0.5 Qantas Points per $1 spent on Australian purchases
- $0 annual card fee for the first year. $89 annual card fee thereafter
- 0.5 Amplify points or 0.25 Qantas points per $1 spent on government payments
- Up to 55 days interest free on purchases
- Get up to 3 additional cardholders at no extra cost
- Simplified tax reporting
- Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Have an Australian residential address
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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