Bank of Melbourne Amplify Signature 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 Signature Credit Card with up to 200,000 Bonus Points

Looking for a prestige rewards card with plenty of perks? Touted as Bank of Melbourne’s ‘most rewarding credit card’, the Bank of Melbourne Amplify Signature Credit Card could be right up your alley.

Not only does it offer a pretty decent earn rate over two rewards programs, it also provides plenty of prestige extras and a whopping 200,000 bonus points as an introductory offer when you choose Amplify Rewards. Plus, enjoy 0% p.a. interest on balance transfers for 24 months when requested at card application. If you want to earn Qantas points instead see the Bank of Melbourne Amplify Signature with Qantas. Want to find out more? Let’s dive in.

What we love...

First on the agenda is the intro offer. Quite simply, if you apply for the Bank of Melbourne Amplify Signature Credit Card and spend $12,000 each year over 2 years on eligible purchases, you will be credited with 200,000 bonus Amplify points (100,000 points year 1 + 100,000 points year 2).

Aside from bonus points, this introductory offer includes a 0% interest rate on balance transfers for 24 months (with a one-time 1% balance transfer fee) when requested at card application, reverts to cash advance rate.

This card showers bonus points to its members even on birthdays as you can earn an additional 10% of the points earned in the last 12 months within 4 weeks of your birthday. More points to earn on the Amplify program as you can get up to 1.5 Amplify points per $1 spent on eligible purchases, uncapped.

What’s not so great...

We really can’t talk about all the good bits without mentioning the bad bits. When it comes to the Bank of Melbourne Amplify Signature Credit Card, it’s worth bearing in mind the card has a significant annual fee, and relatively high rates of interest on purchases and cash advances.

To be eligible for the 200,000 bonus Amplify Points (100,000 points year 1 + 100,000 points year 2), you will need to spend at least $12,000 on eligible purchases each year. This is fine if you were planning on spending that amount anyway – and you pay it off before it attracts interest – but not so good if you are only spending to get the points in return.

Why should you choose this card?

Choosing this card should come down to a balance of value. Do you pay out more than you get in return? Or is the outlay worth it in overall value? To help you weigh that up, here are some more of the card’s features that you might find beneficial.

As a cardholder, you will be given two Priority Pass lounge visits per year to any of more than 1300 participating airport lounges worldwide regardless of the class of travel or airline you're flying.

Cardholders also benefit from complimentary retail and travel insurances such as interstate flight inconvenience insurance, up to 6 months overseas travel insurance, extended warranty, up to 4 months purchase security cover, and transit accident insurance; automatic membership to Visa’s Luxury Hotel Collection; exclusive concierge services; up to 55 days interest free on purchases; and one free additional cardholder.

Overall Rating

A prestige rewards card offering a great earn rate over two rewards programs, an array of features and extras, up to 200,000 in bonus points and 0% p.a. interest on balance transfers for 24 months.