Are you a business owner looking for a credit card that helps you manage expenses and earn rewards? The Bank of Melbourne Amplify Business Credit Card is tailored for small to medium-sized businesses. It offers the flexibility to choose between earning Amplify Points or Qantas Points, providing value based on your business needs. With no annual fee in the first year, it’s a budget-friendly option.
In this article, we will break down the benefits, fees, and how to apply for the Bank of Melbourne Amplify Business Credit Card.
Why Choose the Bank of Melbourne Amplify Business Credit Card?
This credit card comes with several features designed to support your business spending:
Flexible Rewards Program
You have the option to earn either Amplify Points or Qantas Points. This lets you choose the rewards system that best fits your business, especially if your team travels frequently.
Generous Bonus Points
New cardholders can earn 100,000 bonus Amplify Points or Qantas Points after spending $6,000 on eligible purchases within the first 90 days. This gives your points balance a strong start, helping you redeem rewards faster.
Up to 55 Days Interest-Free
You can enjoy up to 55 days interest-free on purchases, provided the balance is paid in full by the due date. This can improve cash flow management and reduce interest costs for your business.
Complimentary Insurance Coverage
The card comes with free insurance for unauthorized transactions, giving you extra protection for your business spending and peace of mind against fraud.
Detailed Expense Tracking
Each month, you’ll receive detailed statements to track your expenses. This is a useful feature for managing business costs and monitoring cash flow efficiently.
Pros and Cons of the Bank of Melbourne Amplify Business Credit Card
| Pros | Cons |
|---|---|
| 100,000 bonus Amplify or Qantas Points on eligible spend | $0 first-year annual fee, $55 after |
| Flexible rewards program | 3% overseas transaction fee |
| Up to 55 days interest-free on purchases | Points capped at $250,000 annually |
| Complimentary unauthorized transaction insurance | – |
| Detailed monthly statements for easy expense tracking | – |
Fees and Interest Rates of Bank of Melbourne Amplify Business Credit Card
| Fee | Amount |
|---|---|
| Annual fee | $0 for the first year, $55 after |
| Balance transfer fee | 2% of the transferred amount |
| Overseas transaction fee | 3% of the converted amount |
| Cash advance fee | 3% of the cash advance or $3.75 (whichever is higher) |
| Late payment fee | $15 |
| Over-limit fee | $15 |
| Purchase interest rate | 20.99% p.a. |
| Cash advance interest rate | 21.99% p.a. |
How to Apply for the Bank of Melbourne Amplify Business Credit Card
To apply, simply call Bank of Melbourne customer service at 13 22 66. A representative will guide you through the process and answer any questions.
Eligibility Criteria
To apply for this credit card, you must:
- Be at least 18 years old.
- Own an Australian registered business.
- Have a good credit history.
- Provide proof of identity and business documentation.
Conclusion
The Bank of Melbourne Amplify Business Card is a great choice for business owners who want to earn rewards while managing expenses. With its bonus points offer, flexible rewards program, and complimentary insurance, this card can enhance your business spending experience. If you meet the eligibility criteria and want a cost-effective credit card, consider applying today!