• Rates
  33%
• Fees
  53%
• Rewards
  60%
• Customer Service
  78%
• Value
  52%

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.

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 can also get $250 cashback to your account when you spend $3,000 on eligible purchases within 90 days from card approval, plus 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 Virgin Australia's Velocity program, 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 and could get the $250 cashback if you meet the spend requirement. 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 accountholder 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 insurance cover with Including Transit Accident Insurance, Business Inconvenience 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 $250 cashback up for grabs and $0 annual fee in the first year.