If you're after a credit card with no pesky annual fee to pay, then you might want to check out Bank of Melbourne's No Annual Fee credit card! The card also has up to 55 interest free days and the option to have three additional cardholders, at no extra cost. One thing to keep in mind is that the card does have a high 20.74% purchase rate.
One great thing about the Bank of Melbourne No Annual Fee credit card, is the fact that because there's no annual fee, if you pay off your balance each month before the interest kicks in, it’s effectively free. However, you’ll want to make sure you do pay your bill in full each month, because if you don’t you’ll be stuck paying 20.74% interest. To help you keep on top of your balance and avoid that you’ll have up to 55 interest free days to pay off your spending.
The Bank of Melbourne No Annual Fee card also comes with a 'Fraud Money Back Guarantee.' This means that the Bank of Melbourne will refund 100% of any money taken from your account, if you are a victim of fraud. The card also comes with the option to have three free additional cardholders, so if you’re looking to share the Bank of Melbourne No Annual Fee credit card with some family members, you can do so with no extra cost.
Just keep in mind that while there is no annual fee to pay, there is a $15 late repayment fee to watch out for. It also comes with a cash advance interest rate of 21.49% and a 3% charge for each cash advance amount (minimum $2.50, maximum $150 per transaction).
The combination of having no annual fee and a relatively high interest rate means that the Bank of Melbourne No Annual Fee card is best for thrifty spenders who make sure to always pay their credit card balance off in full, each and every month.
The obvious catch is the high 20.74% purchase rate. It means that carrying a lingering balance on your card can come back to bite you (or your budget) real quick.
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20.74% p.a. |
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none |
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|
No current offer |
|
|
yes |
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|
21.49% p.a. |
|
|
55 |
|
$0.00 |
|
|
none |
|
|
none |
|
|
none |
|
|
$15.00 |
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3% |
|
|
3.00% |
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|
$0.00 |
|
|
$10.50 |
|
|
$0.00 |
|
$10.00 |
|
|
2.0 |
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3 |
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none |
Apple Pay, Google Wallet, PayID, Samsung Pay
Card is okay. It’s linked to my home loan but I'll change products when I refinance and go back to my existing bank.
Read full reviewCard is okay. It’s linked to my home loan but I'll change products when I refinance and go back to my existing bank.
I am happy to bank with Bank of Melbourne. Have been a customer for over 5 years. Includes a home loan too. Competitive interest rate, banking fees are ok. Mainly less hassle.
Read full reviewI am happy to bank with Bank of Melbourne. Have been a customer for over 5 years. Includes a home loan too. Competitive interest rate, banking fees are ok. Mainly less hassle.
They gave me a Bank of Melbourne credit card to pay for my car repairs and then helped me with my repayments when I got into trouble
Read full reviewThey gave me a Bank of Melbourne credit card to pay for my car repairs and then helped me with my repayments when I got into trouble
No money debit card is all I have. Service could be better.
Read full reviewNo money debit card is all I have. Service could be better.
Not bad at all, but could be a bit better.
Read full reviewNot bad at all, but could be a bit better.
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