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MONEYME Freestyle Virtual Card
MONEYME Freestyle Virtual Card

MoneyMe Credit Cards

MONEYME Freestyle Virtual Card

Updated 30 April 2022

Ditch the plastic with the unique and feature-packed MONEYME Freestyle Virtual Card which is instantly available via the iOS and Android app once you apply online and get fast approval within 60 minutes. Get access to a credit line of up to $20,000. Loaded with exciting features such as Tap n Pay with up to 55 days interest-free on purchases, ability to transfer money to anyone and credit back offers at over 1,700 of your favourite stores like Nike, The Iconic & more. Must be employed with decent credit history to get approved.

Purchase Rate (p.a)

19.99%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$0

$0 over 0 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Up to $20,000 credit account limit
  • Low interest rates from 14.99% p.a. to 19.99% p.a (based on your credit score)
  • Credit back when you shop with partner stores
  • Annual fee from $0 to $149 (depending on credit limit)
  • Fast online approval and instant credit access
  • Eligible for Apple Pay and Samsung Pay

  • Additional $5 monthly fee if your balance is over $20
  • Charges a 2.99% foreign transaction fee

Creditcard.com.au review

Editor Review

MONEYME Freestyle Virtual 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 MONEYME Freestyle Virtual Card Review

With the soaring popularity of digital cards in Australia, MONEYME Freestyle Virtual Card entered the market with its enticing flexible features. This card charges an annual fee based on your credit limit. Get approved within minutes and you can use it straight away using your digital wallet to pay via Apple Pay or Samsung Pay.

What we love...

If you are looking for flexible options in using credit, the MONEYME Freestyle Virtual Card has a few ways to do this. What makes this card even more attractive is the speed of its process. Once an application is submitted, you can expect the result within minutes. If you’re approved, you can use it right away using your digital wallet to pay via Apple Pay or Samsung Pay.

In terms of flexibility, it offers its users the option to choose a credit limit based on what they request. This card comes with a unique annual fee tier system, where the amount you pay will be based on the size of your credit limit. From $1,000 - $3,000 you pay no annual fee. For a credit limit of $3,001 - $5,000, the annual fee is $49 while for a credit limit between $5,001 - $20,000, you'll pay $149.

The card offers up to 55 days interest-free on purchases. That means, if you clear your balance by the due date each month, you will have up to 55 days before interest starts accruing on your purchase. This helps you cover day-to-day spending using your virtual card, without having to pay interest for the privilege.

After the interest-free period, you will be charged with a low purchase rate depending on your credit score. MONEYME determines the interest rates that apply which ranges from 14.99% p.a. to 19.99% p.a. based on your credit score. The higher your credit score is, the lower the interest rate that applies. Please see below the corresponding rate on every score range.

  • 400-600 VEDA - 19.99% p.a.
  • 601-850 VEDA - 18.99% p.a.
  • 851+ VEDA - 14.99% p.a.

MONEYME Freestyle Virtual Card allows you to transfer funds to friends or your own bank account within seconds. You can also get credit back on your account when you shop with over 1,700 partner stores – including Apple, THE ICONIC, and David Jones.

Designed to offer a more secure way to pay, this digital card can work well when signing up for subscription services you don’t plan on continuing, or when buying something online from a retailer you’re unsure of.

What's not so great...

MONEYME Freestyle Virtual Card also charges a monthly fee of $5 if you're carrying a balance of over $20 and a purchase interest rate of up to 19.99% p.a. Thus, it's best to settle your balance all the time.

Additionally, since there is no physical plastic card for this account, you'll need to have a device compatible with Google Pay or Apple Pay to make transactions.

Why should you choose this card?

If you are into utmost convenience, easy application, fast approval, and more secure transactions, you can opt to use a digital card. MONEYME Freestyle Virtual Card offers similar features to any other credit card, absent the plastics.

Before applying and making a decision on whether this card is right for you, remember to check the eligibility criteria:

  • Aged between 18-65 years old
  • Employed with income over $25,000 p.a.
  • Not on government or Centrelink benefits
  • Veda credit score above 600
  • No serious marks against their credit file (Default, Bankruptcy, Judgements, Serious overdue account)
  • No previous application declined in the past 365 days

Overall rating

Despite being designed for tech-savvy consumers, this is a simple credit card that keeps it real, the MONEYME Freestyle Virtual Card has a competitive rate on purchases, flexible annual fee tier, and up to 55 days interest free on purchases.

User reviews

MONEYME Freestyle Virtual Card ( based on 2 Creditcard.com.au user reviews )

69% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 19.99% p.a.

Cash advance rate 0.00% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $1,000

Maximum credit limit $20,000

Fees & repayments

Annual fee $0 p.a.

Additional cardholder fee N/A

Foreign transaction fee 2.99%

Minimum repayment $30

Cash advance fee 1.5%

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

Overview

MONEYME Freestyle Virtual Card

Key features

  • Up to $20,000 credit account limit
  • Up to 55 days interest free on purchases
  • Low interest rates from 14.99% p.a. to 19.99% p.a (based on your credit score)
  • Credit back when you shop with partner stores
  • Ability to transfer money to friends or own bank account
  • Annual fee from $0 to $149 (depending on credit limit)
  • Fast online approval and instant credit access
  • Eligible for Apple 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

  • You must be a Permanent Resident or Australian Citizen

  • Minimum income of $25,000 p.a.

  • 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.

3 questions (showing the latest 10 Q&As)

Sandra

Sandra

7 April 2022
Is there a simple credit card that can be used to purchase internationally with a small credit limit & little to no annual limit?
Rachel

Rachel

25 March 2022
Hi there I’m looking to apply for the freestyle virtual card with a $5000 limit, can you tell me more about the approval process? Do you have a pre approval type feature or can someone look into my situation and advise me if I will get approved? I don’t want to apply until I know it’s most likely going to be approved so I don’t stuff up my credit score
    Pauline - CreditCard.com.au

    Pauline

    31 March 2022
    Hi Rachel, great question and thanks for asking. This is always the mystery with any form of credit application. You’ve actually come through to CreditCard.com.au however, MONEYME has just updated their card offerings recently. This is a tiered interest rate based on your credit score. As we’re not MONEYME we can’t tell you anything about their proprietary systems for approval, but because they offer online approval and instant access to your card via virtual wallet, you could be able to use that instantly once you’ve been approved. Hope this has helped you out.
Wes

Wes

3 August 2021
self employed how many years financials needed
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 August 2021
    Hi Wes, thanks for your question! We dug into this and saw that MoneyMe has not indicated a specific income requirement. As long as you’re at least 18 years of age, an Australian citizen or resident, have the required credit rating and have a regular income, you may apply. As with any application for credit always double check the offer with the provider before applying.
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