Review: Bank of Melbourne Amplify Signature Visa

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) is the lesser-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 90,000 bonus Qantas Points, or up to 150,000 bonus Amplify points (if you choose Amplify Signature with Amplify Points, being worth up to 75,000 Velocity Points or 75,000 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') on eligible purchases.
• 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') on eligible purchases.
• Points capping/tiering: On the Qantas Points option, from 1 January 2022, earn 0.75 Qantas Points per $1 up to a maximum of $250,000 spent on eligible purchases annually. Bonus Qantas Points not included in the cap.

Bank disclaimer: Eligible purchases do not include interest, fees and charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account.

Bank of Melbourne Amplify Signature: fees, charges and interest

• Annual fee: $139 First Year Annual fee ($279 Fee 2nd year on)
• Additional/supplementary cardholder fee: $0
• Interest rate on purchases: 19.49% 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 on the Amplify Points option to restrict your points haul – so however much you spend every month or year, you'll earn points on the lot. From 1 January 2022,  the Qantas Points option will allow you to earn 0.75 Qantas Points per $1 up to a maximum of $250,000 spent on eligible purchases annually. Bonus Qantas Points not included in the cap.

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 150,000 bonus Amplify Points when you apply by 31 December 2022 and spend $12,000 on elegible purchases in the first year.

Alternatively, choose the Amplify Signature card with Qantas Points to fetch 90,000 bonus Qantas Points when you apply by 30 June 2022 and spend $6,000+ on eligible purchases in the first 90 days from new card approval.

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.

For those preferring Qantas Points, the Amplify Qantas Signature card delivers these automatically to your Qantas Frequent Flyer account every month.

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.