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Bank of Melbourne No Annual Fee Credit Card
Bank of Melbourne No Annual Fee Credit Card

Bank of Melbourne Credit Cards

Bank of Melbourne No Annual Fee Credit Card

Updated 9 November 2021

With the Bank of Melbourne No Annual Fee credit card, you'll save with a 0% interest on purchases for 12 months. Credit limit starts at $500 and you can add up to three additional cardholders for free. Plus, up to 55 days interest free on your purchases and avoid interest charges.

T&Cs apply. Offer ends 24 February 2022

Purchase Rate (p.a)

0% p.a.

for 12 months. Reverts to 20.74% p.a.

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$0

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on purchases for 12 months
  • No annual fee
  • $500 minimum credit limit
  • Up to 3 free additional cardholders
  • Up to 55 interest free days on purchases
  • Eligible with Apple Pay, Google Pay and Samsung Pay

  • High purchase and cash advance rate

Creditcard.com.au review

Editor Review

Bank of Melbourne No Annual Fee 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 about this card.

The Bank of Melbourne No Annual Fee Credit Card

With no annual fee ever, the card keeps costs low as you work on clearing your balance, while also offering functional features that make it a great low cost everyday card. Currently offering 0% p.a. interest on purchases for the first 12 months for new cards, the Bank of Melbourne No Annual Fee Credit Card can be a good option for cardholders looking to reduce card costs, especially on shopping sprees.

What we love...

Offer or no offer, this is a good low cost card to keep in your wallet. You will pay no annual fee on the card ever, plus, you can add up to three additional cards to the account at no extra cost. If you want family members to have access to credit using your account, this helps to keep things simple with one credit card account to keep track of, and one payment to make each month.

Currently, it offers a 0% p.a. interest on purchases for the first 12 months to new card members. Another money-saving feature on this card is its interest free period. 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 due closing balance) by the relevant payment date. With the card’s high purchase rate, using this feature could help you save a significant amount in interest.

What’s not so great...

While this card may help you save on annual fees – and on interest with purchases for a limited time – it is not a totally low rate card as the standard purchase rate is at 20.74% p.a. Thus, it is best to be aware, especially after the promotional period ends, and actively clear your balance every statement period. If you tend to carry a balance, you may want to look at low rate cards to help you to keep interest costs as low as possible.

Why should you choose this card?

With a $500 minimum credit limit, the Bank of Melbourne No Annual Fee Credit Card can work well for cardholders who want to reduce the temptation to overspend, or who simply want to keep a low minimum credit limit. As a no annual fee card, it’s a great choice for anyone who doesn’t want to pay for access to credit, or for those who want to keep a card for emergencies.

Of course, with this being a Visa, it provides all the standard features you would expect to find on this type of card. Verified by Visa can offer protection while shopping online, and Visa payWave can make paying at the checkout faster and easier. Bank of Melbourne provides access to the account via phone and internet banking, with fraud monitoring included as standard.

Overall Rating

A basic card that saves you with no annual fee, the Bank of Melbourne No Annual Fee Credit Card is currently offering 0% p.a. on purchases for 12 months.

User reviews

Bank of Melbourne No Annual Fee Credit Card ( based on 2 Creditcard.com.au user reviews )

50% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 20.74% p.a.

Introductory purchase rate 0% p.a. for 12 months

Cash advance rate 21.49% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $500

Maximum credit limit $40,000

Fees & repayments

Annual fee $0 p.a.

Additional cardholder fee Up to 3 at no extra cost

Foreign transaction fee 3%

Minimum repayment 2% or $10, whichever is greater

Cash advance fee 2% or $2.50, whichever is greater

Late payment fee $15

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Eligible with Apple Pay, Google Pay and Samsung Pay

Overview

Bank of Melbourne No Annual Fee Credit Card

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

  • 0% p.a. on purchases for 12 months
  • $0 annual credit card fee
  • Purchase rate of 20.74% p.a.
  • Up to 3 free additional cardholders
  • $500 minimum credit limit
  • Up to 55 interest free days on purchases
  • Eligible with Apple Pay, Google Pay and Samsung Pay

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Permanent resident in Australia/NZ OR; Non-resident or migrant that holds an acceptable Visa, with a minimum 1 year before expiry

  • You have your personal details ready to complete the online application

Pauline

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

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

4 questions (showing the latest 10 Q&As)

Marc

Marc

19 August 2020
I am on a permanent disability pension. Can I get a credit card? I have no debts and my only other income is interest on my savings. Thank you.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    19 August 2020
    Hi Marc, yes this is possible. No annual fee cards tend to be harder to get approval. Though this would be one of the easier ones. BOM can see your pension as income. Approval will depend heavily on affordability. Income v expenses, assets v liabilities and your credit and payment history.
tammy

tammy

17 April 2019
can I put lower credit limits on the second and third cards being for family members?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 April 2019
    Hi Tammy, there is no ability to control the credit limits of secondary card holders.
John Beattie

John Beattie

2 June 2016
I had almost completed a credit card application - I had just completed the "branch" question when the application disappeared from the screen. Do I need to start the process again?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    3 June 2016
    Hi John, it sounds like it should be ok. Hopefully you received an application number or ID. Call BOM on 13 22 66
Chester

Chester

25 December 2013
Hi! I am here in Oz working with a 457 visa. Is there any possibility to get a credit card? I have been here for 7 months and i can only show my bank statement from my payroll as proof of my capacity to pay. I am renting a room and have no car because my work is just a 15 minute walk from home. Cheers!

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