How to Apply for your Amplify Rewards Signature Credit Card

In the competitive world of credit cards, the Bank of Melbourne Amplify Rewards Signature Credit Card stands out for its generous rewards program, flexibility in point redemption, and a suite of benefits designed to enhance the cardholder experience.

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With an annual fee of $295, this card is tailored for individuals who seek value through a rewards system, especially those who make regular purchases and prefer to accumulate points without limits.

The Amplify Rewards program offers not only points for everyday spending but also additional perks like travel insurance and airport lounge access, making it a compelling choice for frequent travelers and savvy shoppers alike.

Amplify Rewards Signature Credit Card Benefits

• Earning Potential: Earn 1.5 Amplify Points for every dollar spent on eligible purchases, with no cap on the amount of points accumulated.
• Bonus Points: New cardholders can earn bonus Amplify Points worth up to $675 in eGift cards when spending $12,000 or more on eligible purchases within the first year.
• Points Flexibility: Amplify Points do not expire, providing the flexibility to accumulate and redeem points at your convenience.
• Redemption Options: Points can be redeemed for merchant gift cards from popular retailers such as David Jones, Myer, JB Hi-Fi, and Bunnings. For instance, 11,100 Amplify Points can be redeemed for a $50 eGift card.
• Travel Rewards: Points can be used for travel bookings, shopping at the Bank of Melbourne’s online store, or transferring to partner airline frequent flyer programs. Donations to listed charities are also an option.
• Travel Perks: Enjoy two complimentary Priority Pass lounge visits annually for added comfort while traveling.
• Insurance Coverage: Includes various insurance benefits such as:
  • Interstate Flight Inconvenience Insurance
  • Rental Vehicle Excess in Australia
  • International Travel Insurance (up to six months of complimentary cover)
  • Overseas Transit Accident Insurance
  • Purchase Protection for up to four months
• Extended Warranty coverage
• Fraud Protection: The card offers 24/7 fraud monitoring and a Fraud Money Back Guarantee for secure transactions.
• Cashback Opportunities: Linking the card to the ShopBack app provides access to exclusive bonus cashback offers on eligible purchases.
• Luxury Benefits: Access to the Luxury Hotel Collection, ensuring the best available rate guarantees and potential upgrades during hotel stays.

Prerequisites

Before applying for the Bank of Melbourne Amplify Rewards Signature Credit Card, potential applicants must meet certain eligibility criteria:

• Age Requirement: Applicants must be at least 18 years old
• Residency Status: Permanent residency in Australia or New Zealand is required, or non-residents or migrants must hold an acceptable visa with a minimum of one year before expiry.
• Income Verification: Applicants should have a regular, verifiable Australian taxable income.
• Residential Address: A fixed, verifiable residential address in Australia is necessary for application approval.

About Bank of Melbourne

The Bank of Melbourne, part of the Westpac Group, is committed to providing exceptional banking services to its customers. Established in 1989, the bank has grown to offer a wide range of financial products, including personal loans, mortgages, and credit cards.

The Amplify Rewards program is designed to reward customers for their loyalty and spending, making it a popular choice among those seeking value in their credit card experience.

With a focus on customer service, the Bank of Melbourne aims to create a personalized banking experience tailored to the needs of its clientele.

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How to Apply for the Card

Applying for the Bank of Melbourne Amplify Rewards Signature Credit Card is straightforward:

1. Visit the Website: Start by visiting the Bank of Melbourne’s official website.
2. Sign In: If you’re an existing customer, log in to your online banking account to streamline the application process and take advantage of reduced fees (e.g., a $99 card fee for the first year).
3. Complete the Application Form: Fill out the application form, providing details such as personal information, income, and employment status.
4. Submit Supporting Documents: Be prepared to submit the required documents to verify your identity and income.
5. Review and Submit: Double-check all information for accuracy before applying.
6. Receive Confirmation: After submission, you’ll receive a confirmation regarding the status of your application. Approval times may vary.

Fees and Tariffs

Understanding the fees associated with the Bank of Melbourne Amplify Rewards Signature Credit Card is crucial for potential applicants:

• Annual Card Fee: $295 (with a reduced fee of $199 for the first year for new applicants).
• Interest Rates:
  • Purchase Interest Rate: 20.99% p.a. variable
  • Cash Advance Interest Rate: 21.99% p.a. variable
• Late Payment Fee: $15 applied for each missed payment.
• Cash Advance Fee: 3% of each cash advance amount.
• Foreign Transaction Fee: 3% of the Australian dollar value for overseas transactions.

Pros and Cons

Pros

1. Generous Points Earning: The ability to earn 1.5 Amplify Points per dollar spent on eligible purchases is an attractive feature for frequent spenders.
2. Flexible Redemption Options: With points that don’t expire and various redemption choices, cardholders have the flexibility to use their rewards as they wish.
3. Comprehensive Insurance Coverages: Travel and purchase protection insurance adds significant value and peace of mind for cardholders.
4. Airport Lounge Access: Complimentary lounge access enhances the travel experience.

Cons

1. High Annual Fee: The annual fee of $295 may be considered steep for those who do not use the card frequently or do not maximize its rewards potential.
2. Interest Rates: The variable interest rates on purchases and cash advances may be high compared to some other credit card options.
3. Spending Requirement for Bonus Points: The requirement to spend $12,000 in the first year to unlock bonus points may be challenging for some applicants.

Conclusion

The Bank of Melbourne Amplify Rewards Signature Credit Card offers a compelling package for those who prioritize earning rewards on their everyday spending.

With its uncapped earning potential, flexible redemption options, and valuable travel benefits, it is well-suited for frequent shoppers and travelers.

While the annual fee and interest rates may be higher than some competitors, the extensive benefits and features provided by the card can justify these costs for many consumers.

By understanding the associated fees and eligibility requirements, potential applicants can make informed decisions about whether this card aligns with their financial goals and spending habits.

Overall, the Amplify Rewards Signature Credit Card stands as a strong contender in the credit card market, especially for those looking to maximize their rewards

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