Reviews

Review: Bank of Melbourne Amplify Signature Visa

By Chris Chamberlin, July 7 2017
Bank of Melbourne Amplify Signature Visa
Notes
The Good
  • Earn uncapped frequent flyer points
  • Enjoy two airport lounge visits each year
  • Bonus points on offer for eligible new customers
The Bad
  • No longer double points on international transactions
Added Value
  • Every year, get a 'birthday bonus' of 10% of the points you've earned over the past 12 months

Introduction

Delivering up to 0.825 Qantas, Virgin Australia Velocity, Singapore Airlines KrisFlyer or Malaysia Airlines Enrich frequent flyer points per dollar spent (depending on which card variant you choose) without caps or limits is the little-known Bank of Melbourne Amplify Signature Visa credit card, but which comes with the backing of Westpac behind the scenes to keep the gears running smoothly.

Bank of Melbourne tempts new cardholders with either 80,000 bonus Qantas Points (if you choose the Amplify Signature with Qantas Points card) or up to 200,000 bonus Amplify points (if you choose Amplify Signature with Amplify Points, being worth up to 100,000 Velocity points, KrisFlyer miles or Enrich miles), to help keep you flying in business class: full details below.

Bank of Melbourne Amplify Signature card: fast facts

  • Grade/tier: Black
  • Card type: Visa Signature
  • Loyalty variants: Qantas Points (Qantas Frequent Flyer) or Amplify Points (Amplify Rewards)
  • Qantas Points earned per A$1 spent (Qantas Frequent Flyer): 0.75 (0.825/$1 including the 10% 'birthday bonus')
  • Amplify Rewards points earned per A$1 spent (Amplify Rewards): 1.5 (1.65 with that 'birthday bonus')
  • 1.65 Amplify Rewards points = 0.825 Velocity Points, 0.825 Singapore Airlines KrisFlyer miles or 0.825 Malaysia Airlines Enrich miles via 2:1 conversion
  • Points capping/tiering: None

Bank of Melbourne Amplify Signature: fees, charges and interest

  • Annual fee: $279 (currently $139 in the first year)
  • Additional/supplementary cardholder fee: $0
  • Interest rate on purchases: 19.74% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: 21.49% p.a.
  • International transaction fee: 3.0%
  • Minimum income requirement: No defined minimum
  • Minimum credit limit: $15,000

Earning points for free flights:

The first thing high spenders will notice of this card is that there's no points capping or tiering to restrict your points haul – so however much you spend every month or year, you'll earn points on the lot.

On top of that, every time your birthday comes around you'll pick up a 10% 'birthday bonus' on the number of points you earned over the previous 12 months (or part-year if you're a new cardholder), excluding on any bonus points earned such as sign-up offers.

Including that birthday boost, customers selecting the Amplify Signature card with Amplify Points and converting their points over to Virgin Australia Velocity would earn enough of them to book a one-way Sydney-Melbourne economy flight in return for every $9,455 spent.

Or, when taking out the Amplify Signature card with Qantas Points and again with that birthday bonus included, a comparable Sydney-Melbourne flight with Qantas can be yours after spending $9,697, as Qantas requires slightly more points than Velocity (8,000 vs. 7,800) to book the same journey.

Also on the table are two sign-up offers, one with each card variant.

On the Amplify Signature card with Qantas Points, a bonus 80,000 Qantas Points when you apply by February 12 2020 and spend $6,000 on eligible purchases within 90 days of card approval, with a reduced annual fee of $139 in the first year.

Or, choose the Amplify Signature card with Amplify Points and get up to 200,000 bonus Amplify Points over two years – split as 130,000 bonus points in year one, and 70,000 bonus points in year two – when you apply by February 12 2020 and spend $12,000 on purchases each year over the first two years, also with a reduced annual fee of $139 in the first year.

Airport lounge access:

As we'd expect of a high-end credit card, Amplify Signature cardholders can enjoy two complimentary airport lounge visits each year, which vary based on the reward program chosen.

Choose Amplify Qantas to earn Qantas Points and you'll receive two free Qantas lounge passes each year after registering on the Bank of Melbourne website, which can be used in domestic Qantas Club lounges and international Qantas business class lounges (some lounges like Los Angeles currently excluded).

Or, choose Amplify Rewards and gain a free Priority Pass membership with two lounge visits attached, which can also be used for further lounge visits at a cost of US$32 per entry.

Free insurance coverage:

International travel insurance comes as standard, which may be activated on a per-trip basis by charging at least $500 worth of travel costs to the card before leaving Australia and when holding a return ticket for trips of six months or less.

Included in that spend could be your return airfares, airport/departure taxes, pre-paid hotel stays during the trip or pre-paid 'overseas itinerary items', which may provide the flexibility to book flights using frequent flyer points and still be covered, provided you use money for something else as part of the trip.

Extended warranty cover, purchase protection, pricing guarantees, interstate flight inconvenience insurance, transit accident insurance and rental vehicle excess insurance in Australia are also included.

Of course, read the policy documents in full to determine whether the cover is suitable and adequately meets your needs.

Bank of Melbourne Amplify Signature: how it compares

Given the recent changes to frequent flyer credit cards in Australia over recent years, the Bank of Melbourne Amplify Signature card remains a competitive product, with no limit to the number of points you can earn and a choice between four major airlines with which you can earn frequent flyer points.

Virgin Australia Velocity members using the Amplify Signature card with Amplify Points could stretch their points even further by converting them during one of Velocity's regular 15% bonus transfer offers, which essentially lifts the earning rate from 0.825 to just shy of 0.95 Velocity points per dollar spent, including the birthday bonus.

(You start by earning 1.5 Amplify Points per dollar spent, which becomes 1.65 Amplify Points after your birthday bonus arrives. Convert that to Velocity at a 2:1 rate and that's equal to 0.825 Velocity points – or a higher 0.94875 Velocity points if you complete your conversion during one of Velocity's 15% bonus points offers.)

The worldwide acceptance of Visa also means you can use this card in more places than American Express or Diners Club: although points-savvy spenders could pair this with the Qantas AMEX Ultimate Card (for Qantas Points), the AMEX Velocity Platinum Card (for Velocity points) or the AMEX Explorer Card (for KrisFlyer and Enrich miles, or Velocity points also).

Under that strategy, you'd use your AMEX card wherever it's accepted to earn the most frequent flyer points per dollar spent, and your Bank of Melbourne Amplify Signature Visa everywhere else to continue scooping up points at a reasonable rate.

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller and lives by the motto that a journey of a thousand miles begins with a single step, a great latte, a theatre ticket and a glass of wine!

elchriss0

elchriss0

Virgin Australia - Velocity Rewards

13 Jan 2015

Total posts 578

Following from my comment on the other article, if I apply for the st george amplify signature am I still eligible for the bonus on this identical BoM card?  Both use the same rewards system which is why I am uncertain.

Chris Chamberlin

Chris Chamberlin

24 Apr 2012

Total posts 2936

That's a question you'd need to ask St. George as we can't provide readers with 'personal financial advice' beyond covering credit cards in features and reviews.

Jazzop

Jazzop

02 Dec 2016

Total posts 79

Can you elect to take the bonus points for QFF and then switch it to Amplify so that you can convert to Velocity?

ashhuggo

ashhuggo

03 Apr 2018

Total posts 5

Hey has anyone else had a delay in receiving bonus 90k QFF points ? It has been well over 12 weeks and still nothing!? Even worse is I had no luck when following up with amplify rewards... they fobbed me off to Qantas 131313. Any advice please would be most helpful.

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