• Rates
  74%
• Fees
  82%
• Rewards
  N/A
• Customer Service
  76%
• Value
  74%

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.

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.