Review: Bank of Melbourne Amplify Signature Visa

Collect up to 200,000 bonus Amplify Points, and get a reduced $139 first-year fee, when you apply and meet the spending criteria.

Overall Rating

By Chris Chamberlin, September 14 2020
Bank of Melbourne Amplify Signature Visa
Disclaimer

Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

FF Program

Amplify Rewards

Sign Up Bonus

Up to 200,000 bonus Amplify Points (= 100,000 points with Velocity, KrisFlyer or Enrich)

Annual Fee

$139 first year,
$279 p.a. thereafter

Interest Rate

19.74% p.a. on purchases
21.49% p.a. on cash

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
Fees and interest
Points earned
Lounge access
Overall

Introduction

Delivering up to 0.825 Virgin Australia Velocity, Singapore Airlines KrisFlyer, Malaysia Airlines Enrich or Qantas 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 with the backing of Westpac behind the scenes to keep the gears running smoothly.

Bank of Melbourne also tempts new cardholders with up to 200,000 bonus Amplify points (if you choose Amplify Signature with Amplify Points, being worth up to 100,000 Velocity Points or 100,000 KrisFlyer 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: Amplify Points (Amplify Rewards) or Qantas Points (Qantas Frequent Flyer)
  • Amplify Points earned per A$1 spent (Amplify Rewards): 1.5 (1.65 with that 'birthday bonus')
  • 1.65 Amplify Points = 0.825 Velocity Points, 0.825 Singapore Airlines KrisFlyer miles or 0.825 Malaysia Airlines Enrich miles via 2:1 conversion
  • Or, Qantas Points earned per A$1 spent (Qantas Frequent Flyer): 0.75 (0.825/$1 including the 10% 'birthday bonus')
  • 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.

For eligible new customers, choosing the Amplify Signature card with Amplify Points delivers up to 200,000 bonus Amplify Points over two years.

These are split as 130,000 bonus points in year one, and 70,000 bonus points in year two, when you apply by February 9 2021 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 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.

Alternatively, opt for Amplify Qantas and you'll instead receive two Qantas lounge passes each year after registering on the Bank of Melbourne website, which can be used in domestic Qantas Club lounges and most Qantas international business class lounges.

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.

Restrictions to this cover may apply during the COVID-19 pandemic. For further information or to confirm whether your intended journey is covered by this policy, speak directly with the card issuer or insurance underwriter.

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 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 several major airlines with which you can earn frequent flyer points.

The worldwide acceptance of Visa also means you can use this card in more places than American Express or Diners Club.


Bank disclaimer: ^If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.

Disclaimer

Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller, and lives by the motto that a journey of a thousand miles begins not just with a single step, but also a strong latte, a theatre ticket, and later in the day, a good gin and tonic.


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