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Our verdict

Offers 100,000 bonus Amplify Points and a discounted first-year annual fee – with a 20.99% p.a. interest rate for purchases.

The Bank of Melbourne Amplify Platinum is a mid-tier rewards card that earns 1 Amplify Point per $1 on eligible spending, which you can redeem for rewards including eGift cards, retail items and frequent flyer points with Velocity Frequent Flyer or Singapore Airlines KrisFlyer. As an example, its current 100,000 bonus points offer would give you enough for $450 worth of eGift cards or 50,000 Velocity Points.

This card also offers complimentary insurances for travel and purchases – including comprehensive international travel insurance for trips of up to 3 months.

Pros

100,000 bonus Amplify Points
Reduced annual fee of $49 in the first year
Shopping cashbacks through ShopBack
Uncapped rewards points on eligible purchases

Cons

Charges a 3% foreign transaction fee

The Bank of Melbourne Amplify Platinum is suited to people who want to earn points on their credit card spending and like having a choice of different rewards – including gift cards, retail items, travel and frequent flyer points. If you apply for this card by 31 July 2024, you’ll earn 100,000 bonus Amplify Points by spending $3,000 in the first 90 days.

You can also take advantage of a $49 first-year annual fee discount. After the first year, the annual fee goes to $124 p.a. – which is on par with other platinum cards. But if you’re not paying off the full monthly balance listed on your statement by the due date (to get interest-free days) the interest costs could add up.

Details

Product details

Product Name	Bank of Melbourne Amplify Platinum
Purchase rate p.a.	20.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$6,000
Max credit limit	$80,000
Card type	Visa

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Rewards program	Amplify Rewards
Bonus points	100,000
Rewards points per $ spent	1

Fees

Annual fee	$49 first year ($124 after)
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	3%
Overseas cash advance fee	3% of each cash advance amount
Additional cardholder fee	$0
Number of additional cardholders	1

How to apply

You can apply for the Bank of Melbourne Amplify Platinum card online in around 10-20 minutes and receive a response within 60 seconds. Just make sure you've met the eligibility criteria and have the necessary information to complete the application.

Eligibility criteria

New cardholder. To be eligible for the introductory offers, you must apply for a new card and cannot hold or have held an Amplify Platinum or Amplify Signature issued by St.George, Bank of Melbourne or BankSA in the previous 12 months.
Age. You must be at least 18 years of age to apply.

Residency. To apply online, you must be an Australian citizen or permanent resident.
Good credit score. Have good credit history with no defaults or bad debt.

Required documents

Personal information. Including your full name, date of birth, residential address and contact information.
Proof of identification. To verify your identity, you'll need a valid Australian driver's license, passport, Medicare card or birth certificate.
Income. You'll need to provide payslips or similar financial documents on hand to confirm your income. This will include supplemental income information like rent from rental properties.
Employment. You'll need to confirm your current place of employment and provide your employer's contact details. If you're self-employed, you may need to provide your tax information and your accountant's contact details.

Card benefits

Bonus Amplify Points offer. Receive 100,000 bonus Amplify Points if you apply for a Bank of Melbourne Amplify Platinum card by 31 July 2024, get approved and spend $3,000 within the first 90 days of card approval.
First-year annual fee discount. The Bank of Melbourne Amplify Platinum credit card offers a reduced annual fee of $49 for the first year (reverts to $124 p.a. thereafter). This offer is valid until 31 July 2024.

Shopping cashbacks. Eligible Bank of Melbourne credit card holders can get cashbacks when they shop with their card on the online rewards platform ShopBack.
Rewards points. Enjoy uncapped points potential and earn 1 Amplify Point per $1 spent on eligible transactions. Amplify Points can be auto-redeemed for Velocity Points at a rate of 2:1.
Complimentary travel insurance. Save and travel with peace of mind thanks to complimentary international travel insurance for trips up to 3 months for you, your spouse and any dependent children travelling with you. You'll be covered for emergency and medical services, travel delay, lost luggage and more. You must use your card to pay for at least $500 of your prepaid travel costs to activate the insurance. Eligibility requirements, exclusions and other conditions apply.
Extended warranty. When you use your Amplify Platinum card to purchase an item that has a manufacturer's warranty, you will get an extended warranty that will come into effect when the manufacturer's warranty ends.
Purchase protection. If a newly-purchased item gets damaged or stolen, purchase protection through your Amplify card can help you get a reimbursement or pay for repairs on the item as long as the claim falls within a certain time frame after the original purchase date.
Mobile payment technology. Enjoy the convenience of making contactless payments using compatible device by adding this card to your Apple Pay, Samsung Pay or Google Pay wallet.

Rates & fees

Annual fee. Outside of any promotions, this card charges an annual fee of $124 p.a.
Purchase rate. This card charges a 20.99% p.a. variable interest rate on purchases.

Interest-free period. You will receive up to 55 days interest-free on new purchases when you pay your monthly payment balance listed on your statement in full by the payment due date. Note that these interest-free days are separate from any longer-term interest rate promotions and the monthly payment balance excludes current balance transfers.
Cash advances. If you use your card for cash advances, such as an ATM withdrawal, you'll collect interest at the 21.99% p.a. variable cash advance rate and will be charged a cash advance fee of 3% of each cash advance amount.
Credit limit. You can request a minimum credit limit of $6,000 up to $80,000.
Additional cardholders. You can earn more points and manage expenses by adding 1 additional cardholder to the account at no extra cost.

Sources

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Amy Finder

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James

April 27, 2024

I have a quick question re eligibility.

The website says: “To be eligible for the promotions, you must apply for a new card and cannot hold or have held an Amplify Platinum or Amplify Signature issued by St.George, Bank of Melbourne or BankSA in the previous 12 months.” I had a St.George Amplify Signature card issued in January 2023 but was closed in July 2023. Can I apply for this credit card and entitled the 100,000 rewards points?

Thanks.

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Sarah Megginson Finder

June 26, 2024

Hi James,

You would need to wait for 12 months to pass before you’re eligible for this offer, so you’ll be eligible from the date in July 2024 AFTER your account was closed.

Hope this helps!

Ross

February 03, 2024

My wife & I currently hold Bank of Melbourne Amplify Platinum cards linked to the Qantas Frequent Flyer program, which we have become disenchanted with.

If we wish to start putting our points to the Virgin Velocity program through a Bank of Melbourne Amplify Platinum card linked to the Virgin Velocity program can we just transfer our allegiance to the Virgin Velocity program through the Bank of Melbourne or do we need to apply for a new Bank of Melbourne for a new Bank of Melbourne Amplify Platinum card?

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Amy Bradney-George Finder

February 05, 2024

Hi Ross,

You can contact Bank of Melbourne and request to switch from earning Qantas Points to Amplify Points on your existing card. Amplify Points can then be transferred to your Velocity Frequent Flyer account. I hope this helps.

ian

August 28, 2023

if im on pension can i get credit card..

Amy Bradney-George Finder

September 03, 2023

Hi Ian,

Yes, there are banks and other lenders in Australia that accept credit card applications from people on a pension. You can compare cards in Finder’s guide to credit cards for pensioners, which also has more details on what you need to provide for an application. I hope this helps.

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Bank of Melbourne Amplify Platinum

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