Freestyle Virtual Mastercard card image

MONEYME Freestyle Virtual Mastercard

Advertiser disclosure
Purchase rate
23.24% p.a.
Balance transfer rate
No current offer
Annual fees
$209 $0 - $149 based on credit limit, $5/month for balances over $20.
Interest free days on purchases
55

Mozo editorial review MONEYME Freestyle Virtual Mastercard - last updated: 18 March 2024

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What's hot
  • Up to 55 interest free days
  • Annual fee depends on credit limit
  • Online application can be completed in minutes
What's not
  • Interest rate varies from 18.24% to 23.24% p.a.
  • $5 monthly fee for balances over $20
Mozo snapshot

The MONEYME Freestyle Virtual Mastercard credit card combines the ease of online banking and the flexibility to set your own fees. You’ll also have access to regular credit card features like up to 55 interest-free days. 

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Key features

If you like the idea of online-only banking and are in need of some plastic, then you might want to consider the MONEYME Freestyle Virtual Mastercard credit card. There’s up to 55 interest free days, the ability to pay via Apple and Google Pay and a purchase rate from 18.74% to 23.74% p.a. depending on credit assessment. And as the name suggests, this is a virtual credit card, meaning you'll be able to manage your entire account through the MONEYME app. 

One unique feature of the Freestyle Virtual Mastercard is its annual fee tier system, where the amount you pay depends on the size of your credit limit. The fees are as follows: 

  • $0 for a credit limit of up to $3,000

  • $49 for a credit limit between $3,001 and $5,000

  • $149 for a credit limit of between $5,001 and $20,000 

It’s also worth noting that this credit card also comes with a $5 monthly fee if your balance exceeds $20 (fee is waived for balances under $20), giving you a good incentive to ensure your balance is paid off in full every month. Applying for this virtual plastic takes as little as five minutes, plus you could be approved within 60 minutes! 

Freestyle Virtual Mastercard customers are also able to transfer funds into any bank account, no matter which bank you’re transferring to. Just keep in mind that this is MONEYME’s version of a cash advance, there is a 23.24% cash advance rate and a 1.50% cash advance fee. 

Other fees to keep in mind are the $0 - $35 late payment fee (depending on card provider) and the 2.99% foreign exchange fee that’s charged for purchases made on international websites or if you take the card overseas.




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Who is it good for

The MONEYME Freestyle Virtual Mastercard credit card could be a good option for Aussies who prefer to keep their banking entirely digital. And with the option to have a $0 monthly fee for balance under $3,000, this card could also benefit spenders who only plan to use it for smaller purchases.

To be eligible, applicants will need to tick a few boxes, including earning more than $25,000 a year, having a VEDA above 600, and not having any serious blemishes on their credit file. For a full list of requirements, visit the MONEYME website.

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Any catches

There’s no denying the innovative edge the MONEYME Freestyle Virtual Mastercard offers, however you will need to be careful with how you use it. If you do need to transfer some of the funds into your bank account, you will immediately be charged the 23.24% cash advance rate (plus a 1.50% cash advance fee). 

There is also a $5 monthly fee for balances over $20, so be sure to always pay the balance off in full every month to avoid this. 


Details

Rates and fees information correct as at 13 April 2024 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

23.24% p.a.

none

No current offer

none

23.24% p.a.

55

Fees

$209.00

none

none

none

$35.00

1.50%

2.99%

none

none

none

Features

$30.00

none

none

Interest rate varies from 18.24% to 23.24% p.a. depending on credit assessment. Annual fee includes $5 monthly fee charged for balances over $20. Applicants must earn >$25,000/ year. Late payment fee ranges from $0-$35.

Payment options

Apple Pay, Google Wallet

Customer Reviews

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