Mozo Review ME frank Credit Card Review
Last updated: 3 May 2018.
11.99% p.a. purchase and cash advance rate
No annual fee
Up to 55 days interest free
Multiple Mozo Experts Choice Award winner
If you're after a credit card with no hidden catches then we'd like to introduce you to frank, the low rate card from ME, the bank. Everything about frank is black and white, from the low 11.99% interest rate for both purchases and cash advances, to the 55 day interest free period and its $0 annual fee. It's also a multiple Mozo Experts Choice Award winner - in 2017 for best No Annual Fee Credit Card and in 2018 for best Low Rate Travel Credit Card.
frank is just the sort of guy you want to carry around with you on a shopping spree. He's got a very generous 55 interest free days (as long as you pay your balance off in full by the payment date) and even if you do occasionally overspend and can't pay back purchases in full by month's end, the low 11.99% p.a. interest rate will mean that you're not putting all of your repayments towards interest.
While you'll also only be charged 11.99% p.a. on cash advances, there is an additional cash advance fee of $4 or 2% of the cash advance rate which ever is greater. And while frank is generous with interest free days on purchases, be aware that with any cash advance you will start paying interest immediately.
frank comes chip enabled and so when you're out shopping in Australia you can Tap & Go with MasterCard payPass for purchases under $100. Frank also comes with good online security via MasterCard’s SecureCode and Zero Liability protection for extra peace of mind.
You can take frank with you overseas but keep in mind that any overseas purchases made in person or online will incur a 2.3% international transaction fee of the Australian dollar amount.
frank doesn't like tardiness so if you are late or miss with a payment you will be hit with a $10 late payment fee. This can be easily avoided if you set up automatic repayments.
Who it's good for:
frank won't cost you a cent to keep in your wallet so he is ideal for shoppers looking for a no frills credit card for everyday spending.
If frank gets lost or stolen, there is a $20 emergency replacement card fee to have it couriered in Australia and a whopping $100 fee if you’re overseas.
Like all credit cards, the 55 day interest free period only applies if you pay your balance in full by the due date each month.