- A low standard purchase, cash advance and balance transfer
- Up to 55 day interest free on purchases
- No credit card annual fee
- Add up to 8 extra cardholders free of charge
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Bendigo Bank Low Rate - Annual Fee of $45
0% Balance Transfer for 18 months*
*2% BT fee. Purchase Rate 11.99% p.a.
ME Credit Cards
ME Frank Credit Card
Updated 1 January 2020
The ME Frank card cuts all the confusion with its simple approach to interest rates. With Frank you get a low 11.99% p.a. on purchases, balance transfer and cash advances. Enjoy as many as eight additional cardholders at no cost with up to 55 days interest free on purchases (if you pay your balance off by the due date each month). All this wrapped up with no annual fee that offers access to Mastercard SecureCode for online purchasing, and worldwide assistance. Minimum income of $25,000 required to apply.
Purchase Rate (p.a)
11.99%
Balance Transfer (p.a)
N/A
Annual Fee (p.a)
$0
Pros and cons
- No introductory balance transfer offer
- Minimum income of $25,000 p.a. is required. This is quite high for a low rate card
Creditcard.com.au review
Editor Review
ME Frank Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The ME Frank card
Cut the nonsense, it’s time to get down to business. If you see life in strictly black and white, with no fuss and nonsense, then the ME Frank Credit Card could be for you. No introductory offers, no rewards, no fancy features: this is a card that gets straight to the point, and puts it all down in black and white.
As a cardholder, you can enjoy a low variable purchase rate of 11.99% p.a., a low cash advance rate of 11.99% p.a., and a low balance transfer rate of 11.99% p.a. Pretty easy to remember, right? On top of that, you pay no annual fee, ever. As a card that is super straightforward, it’s certainly easy to see why this card is a multi award winner.
Want to find out more? Let’s have a look.
What we love…
Unlike so many credit cards out there, the ME Frank Credit Card cuts all the frills, giving you only what you need. If you’re not interested in fancy features or rewards, there’s Frank. If you don’t want complicated introductory offers that get you all tangled up, there’s Frank. If you only want a low rate no annual fee card, then Frank’s your guy.
The low purchase rate of 11.99% p.a. places the ME Frank Credit Card firmly in the low interest rate card category. But, if you’re comparing low rate cards, you may notice that most of these cards – unlike Frank – also charge an annual fee. For example, the ANZ Low Rate Mastercard currently has a variable purchase rate of 13.49% p.a. with an annual fee of $58.
Then, if we look at comparable no annual fee cards, we generally see higher standard rates of interest on purchases. One such example would be the St. George No Annual Fee Credit Card, which obviously has no annual fee, but also has a current purchase rate of 20.49% p.a.While we’re at it, we can also point out that unlike Frank’s cash advance rate of 11.99% p.a., the St. George card’s cash advance rate currently stands at 20.49% p.a. Now, in general, we don’t recommend using the cash advance feature as it can be pretty costly, but it’s good to know that (with its 11.99% p.a. balance transfer rate) Frank’s rates are low across the board.
What’s not so great…
We’re a bit stumped on this one. There’s not much we could come up with that’s negative. We have had some comments from people with good credit and high income that have been declined for the card. We don't know how they are scoring applications but there seems to be some difficultly in being approved. It’s worth looking closely at any fees that may apply to cash advances and transactions. Always read the small print, people.
Why should you choose this card?
If you want to pay low interest rates on purchases, cash advances and balance transfers, then the ME Frank Credit Card could be the perfect option. If you tend to carry a balance each month, this card will help to keep interest to a minimum.
On the other hand, if you pay off your balance, then it’s worth noting that the card also offers up to 55 days interest free on purchases. If you want to buy a fairly large purchase, you could have up to 55 days to pay it off before interest starts accruing.
If you don’t need features and rewards – and you don’t want to have to pay for them in annual fees – this is a great choice of card. Plus, you don’t have to worry about intro offers and what happens when they end. And if you so choose, you can add up to eight extra cardholders free of charge.
Overall Rating
This award-winner is an awesome no frills card, with low rates across the board – plus, no annual fee. This is a card that’s definitely worth looking in to.
User reviews
Rates and fees
Interest rates
Purchase rate 11.99% p.a.
Cash advance rate 11.99% p.a.
Interest free period on purchases up to 55 days
Credit limits
Minimum credit limt $1,000
Maximum credit limit $15,000
Fees & repayments
Annual fee $0 p.a.
Additional card holder fee Up to 8 at no extra cost
Foreign transaction fee 2.3%
Minimum repayment 3%
Cash advance fee 2%
Late payment fee $10
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
Overview
ME Frank Credit Card
Key features
- Low variable interest rate of 11.99% p.a. on purchases, cash advances and balance transfers.
- Add up to 8 extra cardholders free of charge
- No credit card annual fee
- Up to 55 day interest free on purchases
- Use tap & go™ for purchases under $100 with Mastercard
Minimum criteria to apply for this card
-
Be over 18 years old
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Good Credit and have not applied for multiple credit cards recently
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Australian citizen or permanent resident
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Minimum income of $25,000 p.a.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
Recently Asked Questions
Something you need to know about this card? Ask a our credit card expert a question.
Ask a question156 questions (showing the latest 10 Q&As)
Hi Roland.
I currently have a credit card and savings account with commonwealth and I am wanted to bring all of my saving over to MeBank and I want to do the Barefoot investor.
Currently this is what im getting on my Combank credit card
$0 annual fee in the first year and subsequent years when you spend $10,0001
Pay no international transaction fees for purchases you make overseas or online
Handy extras like international travel insurance, simply activate before you travel2
Up to 55 days interest-free on purchases
19.74% p.a. purchase interest rate
Minimum credit limit of $4,000.
I was wondering if you could match the 15 months interest free period if I was to transfer my cards and accounts over to MeBank or if I am better off leaving my credit card with the Commbank till its paid off.
Thank you
Hi Brooke, its difficult to get banks to provide special interest free periods on products. ME Frank has no special balance transfer offer. Any amount successfully moved over will be at the standard purchase rate. ME Frank also has foreign fees so if you spend overseas a bit. It will be worth keeping a card that can deliver this feature with no annual fee. Have a look at the 28 Degrees. You will not have your overseas travel insurance feature or either of these cards. So it might be worth getting a low end rewards card as well that can provide this feature if desired. I like earning Qantas points, the HSBC Platinum Qantas delivers great points earning for lower spenders with travel insurance and a low annual fee. Bottom line, not 1 card tends to meet all your needs. So you may need a few cards to get all the features you want. You don't need to bank with anyone to get a card. So don't be loyal to one brand. Shop around and get the best deals for you.
What is the minimum amount can the frank credit card have?
Hi Deb, minimum credit limit is $1,000
Hi there
want to get balance transfer for the amount 1400.00 lender AMEX . I am a CARE benefits . estimates 830.00 per fortnight, no other income ! may I apply ME Mastercard ??? thanks
Hi Vinh, there is no balance transfer offer with this credit card. ME are tough on approval. I would suggest you look at one of the big 4 banks as an option.
Hi i am bridging visa for Permnent reisdent got job with payslip and has other job with ABN. Am i eligible to apply for credit card?
Hi Ian, not with ME Frank until you are PR. Have a look at some other banks which would accommodate you better. The ANZ Low Rate is a good example. The ME Frank is harder to get approval (as with all no annual fee cards). Though you could wait until post PR and have a go.
Can I view transactions online with this card?
Can I have paper statement?
Hi Rosemary, yes you can view statements online and you can get paper statements also.
I have applied for this ceredit card online and got rejected , i have do debts except owing approx $800 on westpac credit which I am paying off and closing before the end of the month , i work full time and do not have any bank loans
Hi Tanya, this ME Frank card can be hard to get approved. No annual fee cards in general seem to be more tricky. The banks all have their own way of scoring credit applications. Though they keep this information close to their chests. Bottom line - income v expenses, assets v liabilities and your credit history are big factors. They have access to more information than every before. Putting away money each month shows the bank you have extra funds. Reach out to ME directly to see if they can provide more info on why you where declined.
Hi, I am looking at the ME frank credit card. I am sending you an email because I have no idea how credit cards work and i'd prefer not to have one. However, I am getting married next year and need some extra cash to pay that off.
My question is- how does this all work? What does it mean by pay your balance in full each month? So if i say spent $200 on the card in November, I'd need to pay that back to the card by the end of November.. is that correct? And what happens if you do not pay if off by the end of the month?
Sorry, I don't want anyone in my personal life to know im looking at credit cards because my mum had serious issues with them when i was a kid! I hope this isn't too much to answer.
Any bits of information you think would be helpful for someone looking at their first credit card would be appreciated.
I currently bank with Commbank and Westpac but the interest on their cards seems insane to me.
thank you.
Hi Jordy, you get up to 55 days interest free on purchases. You do not get interest free days if you hold a balance. Best practice is to pay off the card in full each billing cycle to avoid interest. With ME Frank, the interest isn't huge but can still add up. You can arrange for direct debit to pay off the card in full each month. Credit cards can be a useful tool. Yes CBA does have high rates. Some Westpac cards are not so bad.
Just enquiring......My friend of 50+ years who is not computer literate and has never had an credit card, now finds, since her husband passed away there are places like parking stations, hospitals where you need to pay with a credit card. She is 69 and on a full age pension, is she able to apply for your Me Frank credit card with the lowest limit. Thank you.
Hi Sandra, Frank is not for her. ME Bank does not see the pension as income. I would get her to look at some of the bigger banks. A card like the Westpac Low Rate could work. These banks can see the pension as income.
Can a retired pensioner (part DVA pension plus part self funded )apply for Frank credit card ?
Hi Dennis, ME bank are not that flexible in regards to approving pensioners. You would need to meet all minimum income requirements without taking the pension into consideration. I would typically say to look at offers from the big 4. They are more flexible in approval and can see the pension as income.
I would like to balance transfer out of existing low rate Visa card with the ANZ &come onboard with ME bank on this no annual fee low rate Mastercard please
Hi Matthew, this is possible with ME Frank. Though there is no special offer on the balance transfer. Any amount successfully transferred would be at the standard rate of 11.99% p.a.
I have 1 credit card with a huge interest rate.i want to change to one with low costs..
Hi Bernie, makes sense. This ME Frank card with low interest rates plus no annual fee could work. You can transfer debt to this offer. Any amount that is balance transferred would be at the same standard 11.99% p.a. rate. There are other options as well if this card does not suit.
I need know how much for per week as 2000 ?
Hi Donna, credit limits are assigned by ME at the time they review your application. This is based on a range of factors. Not just your income but how much you spend. You assets less liabilities and your credit history are all big factors. Minimum requirements to apply: You need to be at least 18 years old, an Australian citizen or permanent resident plus earning more than $25,000 a year. You’ll need to have about 5 minutes, your drivers-licence or passport, information on your income and expenses and your current ME account number (if you're a ME customer). $2,000 credit limit should be achievable if you meet the the minimum requirements. Though this will depend on the details you provide for approval.
Can I do a credit card transfer to you?
Thank you .
Cliff
Hi Cliff, it is possible though there is no special rate. Therefore it makes better sense to do a balance transfer to a 0% offer. Than transfer to 11.99% p.a.
Are there any monthly fees?
Hi Amanda, no monthly or annual fees with this card. There are some fees such as late payment ($10) which you can be charged.
I have a poor credit history and want to start repairing, I make well over the required annual income, will I qualify?
Hi Jay, this card is difficult to get approved for. With poor credit history it is very difficult to get approved for a new credit card. This is not the type of card to apply for to start repairing. Have a look at the ANZ First. Whilst its features and rates are not good. This is one of the more easier cards to get approved.
What is the minimum credit score you need to qualify for this card?
Hi Jay, credit score is one factor though this does not guarantee approval. You will need a credit score in the good range to be approved for the this card. Read through our credit card application tips.
LFitz
18 November 2019I truly appreciate the fact that this credit card was easy to cancel. It is a source of huge frustration to me when I have to jump through administrative hoops, sit on hold and answer a million questions when I am ready to cancel a particular card. Me Bank made it super easy and automated via their online portal, and I truly appreciate it. It leaves me with a fantastic experience, and no bitter taste in my mouth (which usually comes from these annoying interactions! when trying to cancel!). Thank you, ME Bank!!!
Recommends this cardCreditcard.com.au Visitor
28 October 2017The site reviewer does not acknowledge that Union Members get an even lower rate. 9.99%
Recommends this cardCreditcard.com.au Visitor
12 March 2017I legitimately love this card and this bank. Frank is straightforward with easy to calculate rates and fees. The card also has a great, attractive design. There's very few cards with such a low interest rate and no annual fee. It's especially simple if you do your other banking with ME, which is similarly low-to-no fee. I love that their call centre's in Australia; I don't have any difficulty understanding the staff I talk to, and vice versa. Rewards cards always seemed like an absolute waste of space – it takes so much effort to gain any advantage from them. Frank is a refreshingly simple change. It's just effortless. I'll never, ever get rid of this card. It's my go-to.
Recommends this card