- 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
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Bank of Melbourne Credit Cards
Bank of Melbourne No Annual Fee Credit Card
Updated 1 November 2024
With the Bank of Melbourne No Annual Fee credit card, 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.
Purchase Rate (p.a)
20.99%
Annual Fee (p.a)
$0
Pros and cons
- 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 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question 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.
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.
What’s not so great...
While this card may help you save on annual fees, 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, 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 and some other features.
User reviews
Rates and fees
Interest rates
Purchase rate 20.99% p.a.
Cash advance rate 21.99% 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 3%
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 annual credit card fee
- Purchase rate of 20.74% p.a.
- $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
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 is a personal finance expert at CreditCard.com.au, with 9 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
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