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ME Credit Cards

ME Frank Credit Card

Updated 22 September 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)

11.99%

Annual Fee (p.a)

$0

$0 over 99 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 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

  • 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. 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

ME Frank Credit Card ( based on 26 Creditcard.com.au user reviews )

78% rating based on 26 reviews

Rates
Fees
Rewards
Customer Service
Value
92%

LFitz

18 November 2019

I 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 card
98%

Creditcard.com.au Visitor

28 October 2017

The site reviewer does not acknowledge that Union Members get an even lower rate. 9.99%

Recommends this card
100%

Creditcard.com.au Visitor

12 March 2017

I 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

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

Balance transfer

Balance transfer rate 11.99% p.a. for 99 months

Balance transfer revert rate 11.99% p.a.

Balance transfer from personal loan N/A

Balance transfer fee No fee

Balance transfer limit N/A

Banks you can't balance transfer from N/A

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

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

  • Australian citizen or permanent resident

  • Minimum income of $25,000 p.a.

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

Roland B Bleyer

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.

163 questions (showing the latest 10 Q&As)

John

John

20 September 2020
Can I have internet banking for this credit card account? Can I withdraw cash at anytime through internet banking? Is there any one time fee apart from the interest for that cash advance?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 September 2020
    Hi John, yes you can have internet banking. https://ib.mebank.com.au/authR5/ib/login.jsp. You should be able to cash advance from your internet banking, app or ATM. Cash advance fee or $4 or 2% of the cash withdrawn (whichever is greater). Cash advance interest charges start from day 1.
Mansoor Sahel

Mansoor Sahel

16 September 2020
Hi bro I just apply for for credit card and the say unsecsfull I talk with bank they don't know why it is question left in my mind and what is the reason of it If there any chance to I can talk to someone as soon poseble that be great thanks.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    16 September 2020
    Hi Mansoor, no annual fee credit cards can be much harder to get approved for. Affordability modelling is where many people are getting stuck. Reach out to ME https://www.mebank.com.au/home/contact-us/. Its certainly a good idea to find out as much as possible. I would also check your credit file to see if any issues.
STeve

STeve

9 September 2020
How much annual income required for $10,000 credit card limit.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 September 2020
    Hi Steve, it is not as simple as yet. Credit limits are assigned at the point of application based on a range of factors. Income v Expenses (affordability) is a key. If you make $100,000 a month but are spending it all. Then its unlikely you will qualify. Bottom line, you cannot know what limit the bank will assign until you apply. Though you can request the credit limit you desire. If you are not happy with a credit limit. Then you can cancel the application before activation.

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