Do you love earning Qantas points for making everyday purchases? Well then, the Amplify Classic credit card from the Bank of Melbourne could be the card for you, with an uncapped earning rate of 0.5 Qantas points for every dollar you spend and a low $79 annual fee. You’ll even be able to earn double points when you make purchases with Qantas Frequent Flyer Program partners.
If you’ve already got debt on an existing card you’ll be able to make use of the generous 0% balance transfer offer for the first 18 months, though if you do decide to transfer a balance you will be charged a 1% fee. If you do decide to make the switch, just make sure you pay off that debt before the balance transfer period ends, because the balance transfer rate reverts to the high 20.24% cash advance rate.
The card also features a 55 day interest free period for you to pay off any purchases (so long as you pay your balance in full each month), though it’s a good idea to keep on top of your purchases to avoid the 19.49% purchase rate.
Fancy taking the Amplify Classic credit card with you on your next holiday? As part of the Visa network you’ll be able to use it at millions of outlets worldwide, but just watch out for the 3% foreign exchange margin if you do use it overseas.
Who it's good for:
With it’s low annual fee, the Bank of Melbourne Amplify Classic credit card could be a good choice for anyone looking for a low cost way to earn Qantas points. It could also be a great option for cardholders who can take advantage of the 0% balance transfer offer to ditch existing debt.
If you do plan to take advantage of the balance transfer offer, just make sure you pay off any debt within the 18 month period before the rate reverts back to the high 20.24% p.a. cash advance rate.