Bank of Melbourne No Annual Fee Card

Moneybuddy says

The Bank of Melbourne No Annual Fee credit card is exactly as its name describes - a credit card without an annual fee. It has an interest rate on the high side, but there's no annual fee and you get up to 55 days interest free on purchases. You can also get up to three additional cards free. The Bank of Melbourne No Annual Fee Card also has a special offer of 0% p.a. for 18 months on balance transfers plus 1% p.a. for up to 12 months on purchases from card approval. Offer ends Jan 4th, 2017.

The Basics

Card class Visa

Card type Credit card

The cool stuff: features

Reward program No

Reward program name -

Reward program details -

Reward program terms -

Additional card holder Yes

Add. card holder details Up to 3 additional card holders for no extra cost

Purchase security No

Extended warranty No

International travel insurance No

Online access No

Phone access No

The Facts & Figures

Purchase rate p.a. 20.49%

Cash advance rate p.a. 20.49%

Introductory purchase rate p.a. 1.00%

Introductory purchase rate period (months) 12

Introductory balance transfer period (months) 12

Balance transfer rate p.a. -

Introductory balance transfer rate p.a. 0%

Interest free days 55 days

Minimum repayment -

Min. credit $500

Max. credit -

Cash advance limit -

Cash advance limit period

The ugly stuff: fees

Reward program fee -

Late payment fee $9

Atm fee -

International transaction fees No

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Key features

  • No annual fee
  • Up to 55 days interest free on purchases
  • Low minimum credit amount of $500
  • 0% p.a. for 18 months on balance transfers from card approval
  • 1% p.a. for up to 12 months on purchases from card approval

Pros

  • No annual fee
  • Up to 55 days interest free on purchases
  • 3 free additional cardholders
  • 24/7 Falcon® Fraud monitoring
  • 0% p.a. for 18 months on balance transfers
  • 1% p.a. for up to 12 months on purchases from card approval - apply by Jan 4th, 2017

Cons

  • Fairly high purchase and cash advance rate
 

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