Are you looking for a genuine, simple experience when you use your credit card? ME bank has been operating in Australia for over two decades, and is bringing you the simple, online service you want.
ME doesn’t offer many credit card options - in fact it offers one. But it’s a pretty good one. You don’t take out a 2019 Mozo Experts Choice Travel Money Award without being one after all. Read on to find out more.
Rates and fees verified as correct at 23 July, 2019. Other information correct at the time of writing.
You want to feel comfortable in your spending, so you want a card with a personality, a human touch, a name. You want a card that won’t lie to you, will tell it to you straight. Meet frank.
This is a low rate credit card with no annual fee so it’s perfect for shoppers who want a hassle free experience, and may mis a monthly payment or two.
| Product | Purchase rate | Balance transfer rate | Annual fees | Interest free days on purchases | |
|---|---|---|---|---|---|
| 11.99% p.a. | No current offer | $0 | 55 | Go to site |
Not just low fee, but no fee! frank is a great addition to any money savvy wallet, but with this card, what you see is what you get. The trade off for the low cost and ease of use is that there are no bells and whistles - don’t expect extra features or freebies and if rewards points is a priority, then this is not the card for you.
| Product | Purchase rate | Balance transfer rate | Annual fees | Interest free days on purchases | |
|---|---|---|---|---|---|
| 11.99% p.a. | No current offer | $0 | 55 | Go to site |
Even with a low rate ME credit card, it’s a good idea to take advantage of your interest free days in order to minimise the interest you pay as much as possible. You’ll get up to 55 interest free days, but the important thing to remember is that you only get 55 days if you make a purchase at the beginning of your credit card statement cycle. If you buy a flashy new laptop 20 days into your statement cycle, you’ll actually only have the remaining 35 days to pay it off before being charged interest.
The ME credit card comes with no annual fee, but there are some other fees and charges you might need to be aware of. These include:
A cash advance fee
International transaction fee
MasterCard conversion fee
Emergency replacement card fee
Check out our guide on how to avoid credit card fees.
Each month, you’ll have to make a minimum payment on your ME credit card of either $10 or 3%, depending which one is higher. If your whole balance is less than $10, you have to pay the lot.
Although this is the minimum you need to pay, Mozo always recommends you pay off your whole balance, or as much of it as you can afford to, to avoid paying not only interest, but also late fees.
For help keeping your repayments under control and avoiding credit card debt, check out our guide on managing your credit card balance.
Yep. A ME credit card works on the MasterCard network, so for purchases under $100, you can use Paypass to Tap ’n’ Go.
Totally. For all the globetrotters out there, the good news is you can use your ME credit card all over the world, wherever MasterCard is accepted. Which is a lot of places.
In some places in the world, domestically issued MasterCards are only used with chip reader - so if your ME credit card hasn’t got a chip, you may be questioned about it. But it’s fine - your card will still work, and can default to swiping the magnetic strip instead.
Aside from that, the only other potential hiccup in your international travel plans may be overseas transaction fees, which are pretty stock standard with most credit cards.
All things considered, the ME credit card is a pretty cost-effective option. But this also inevitably means it’s pretty basic. So you won’t get any of the complimentary insurance options that you might get with fancier, more expensive credit cards, like purchase insurance, extended warranty or complimentary travel insurance.
Short answer? None.
As mentioned above, the cost-effectiveness of this credit card means that it’s pretty pared back in terms of freebies or extra features. That means no rewards program or frequent flyer points.
For people who find themselves overspending for the sake of rewards points, that can actually be a blessing, though if you’re a rewards point aficionado, you may want to look elsewhere for a credit card option with more rewards power.
When you’re using a credit card, you may be concerned about becoming the victim of credit card fraud. It’s something you should definitely be aware of, and one of the main things both ME and Mozo suggests when using your card, is to review your statements regularly. You can do this online with ME.
Keep an eye out for unusual transactions that you don’t remember making and if you find something fishy, contact ME immediately to resolve the issue.
Mozo users have rated ME credit cards on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Sharon, Victoria, reviewed 10 months ago
You do not get any unwanted fees.
You do not get any unwanted fees.
Sharon, Victoria, reviewed 10 months ago
Terry, Queensland, reviewed 10 months ago
I dislike the interest rates, although they are very competitive they could certainly be reduced further. The app does not have all the options to do internet banking - not easy to navigate. I think that the website is a lot worse than the app....
I dislike the interest rates, although they are very competitive they could certainly be reduced further. The app does not have all the options to do internet banking - not easy to navigate. I think that the website is a lot worse than the app. However overall - I am very satisfied with the customer service of ME bank and have found their rates to be very competitive.
Chloe, Victoria, reviewed almost 2 years ago
Always helpful with queries, friendly and fast customer service.
Always helpful with queries, friendly and fast customer service.
Jade, Victoria, reviewed over 2 years ago
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.
Ready to apply? First things first, you’ll need to:
Because ME is an online bank, you’ll have to apply through their website, which is quick and easy. When you apply, you’ll need personal details and employment details, as well as details about your current and past finances, including bank statements and pay slips.
You can check out our guide on applying for a credit card for more information.
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