Bank of Melbourne Amplify Signature Credit Card – Qantas

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 - Qantas

Tantalising new cardholders with 90,000 bonus Qantas Points plus 0% p.a. for 24 months on balance transfers, the Bank of Melbourne Amplify Signature Credit Card is a great points earner, offering plenty of benefits and perks on the side. New cardholders can benefit from extras such as birthday bonus points, Qantas Lounge access and complimentary insurance covers.

What we love...

Before we talk about anything else, we need to look at that bonus points offer in more detail. With the Bank of Melbourne Amplify Signature Credit Card, new cardholders who apply and are approved by 24 February 2022 can take home 90,000 bonus Qantas Points. To qualify, all you need to do is spend $6,000 on eligible purchases within 90 days of card approval.

After making that minimum spend, your bonus points will hit your account within 12 weeks. Then it’s simply a matter of what you’ll do with them. You could fly from Melbourne to New York for 66,200 Qantas Points, to Moscow for 80,500 Qantas Points, or to Stavanger for 230,000 Qantas Points. As they say, the world is your oyster. Point calculations accurate at the time of publishing (which may be subject to change without notice). All routes may have additional taxes and charges.

Dubbed Bank of Melbourne’s ‘most rewarding credit card’, the Bank of Melbourne Amplify Signature Credit Card offers an uncapped earn rate of 0.75 Qantas Points per $1 on eligible purchases, both domestic and overseas. You can also double your points with Qantas Frequent Flyer Program partners, earning once with your card and once with the program partner.

*From 1 January 2022, Qantas Points are capped at $250,000 per year. Bonus Qantas Points excluded in the cap.

As for those birthday bonus points, you will receive an additional 10% of the points you earned over the preceding 12 months, each year, within four weeks of your birthday. And to help you earn even more points over the year, you can add one additional cardholder to the account at no extra charge.

Aside from rewards, Bank of Melbourne Amplify Signature Credit Card also offers 0% p.a. for 24 months on balance transfers requested at new card application with 1% balance transfer fee. Rate reverts to the variable cash advance rate after the promotional period ends. This offer allows you to transfer balances up to 80% of your approved available credit limit (minimum of $200) from up to 3 non-St.George, Bank of Melbourne and BankSA Australian issued credit, charge or store cards.

What’s not so great...

While it may be Bank of Melbourne’s most rewarding credit card, the Bank of Melbourne Amplify Signature Credit Card doesn’t offer the highest Qantas earn rate in town. While the card does offer uncapped points-earning potential, new cardholders should work out the value they will get in rewards and features, to weigh that against the card’s annual fee.

In addition, cardholders should work to avoid high interest charges on cash advances. As this card has a relatively high rate of interest – as most rewards cards do – it’s best to avoid cash advances. And also, be aware that the balance transfer offer reverts to the cash advance rate. Therefore it's best to clear your balances at the end of each period if you want to get the most value from what’s on offer.

Why should you choose this card?

With a great selection of features, the Bank of Melbourne Amplify Signature Credit Card would suit cardholders who find value in extras, while earning rewards on day-to-day spending. Making it easy to earn Qantas points on everyday purchases and Qantas spending, the card also provides extras that work well for frequent travellers.

As a cardholder, you can enjoy Qantas Lounge access, with two Qantas Lounge passes each year. You can also benefit from complimentary Qantas Frequent Flyer membership, saving you $99.50, alongside complimentary insurance covers. These provide cover on overseas travel for you, your spouse and your dependent children, on trips up to six months. Additional cover comes in the form of extended warranty insurance and price guarantee cover.

Overall Rating

Offering 90,000 bonus Qantas Points, the Bank of Melbourne Amplify Signature Credit Card allows cardholders to earn Qantas Points day-to-day, while enjoying ease in paying debts for a long time with 0% p.a. for 24 months on balance transfers. Also serves extras such as insurance cover, birthday bonus points and Qantas Lounge access.