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Avid points collectors will no doubt give serious consideration to the Bank of Melbourne Amplify Signature Credit Card, especially since it comes with a host of benefits to tempt the sort of regular traveller who derives the greatest benefit from card points and rewards schemes. With a $279 p.a. annual fee it’s Bank of Melbourne’s most expensive card, but since it’s easy to recoup the cost of the fee in rewards points plus complimentary insurance value, there’s more than one reason to give it a try.
Huge bonus points sweeteners
This card comes with a range of juicy benefits for new cardholders. Provided you are able to spend $3,000 in 3 months of holding the card, you’ll get a liberal 60,000 bonus points credited to your rewards account. Renew the card for a second year and you’ll receive a further 30,000 points.
The 90,000 points will put you well on the way to earning an economy reward flight to Europe or New York (120,000 points). Or, if you choose the Amplify Rewards program instead, more than enough for $450 in retail gift cards (99,900 points).
If you’re not already a member of the Qantas Frequent Flyer program, it won’t cost you a cent to join because Bank of Melbourne will pay the $89.50 joining fee on your behalf.
Other points benefits – ongoing and temporary
St. George will help you celebrate your birthday every year with an additional 10% of the points Amplify or Qantas earned in the last 12 months.
Unlike some other cards, there is no cap on the points you can earn each month. You can choose between Amplify Rewards Points (1.5 pts per $1 spent (QFF) with Australian merchants) or Qantas Frequent Flyer Points (0.75 pts per $1 spent for domestic spending).
While QFF points collectors in particular may find the prospect of earning less than one point per dollar disappointing, they will find the overseas spending rate of 1.5 pts per $1 spent (or 3 Amplify points) a more attractive prospect. There is, unfortunately, a 3% fee added to overseas transactions, which tends to diminish their appeal, and the offer of double points for overseas spending expires on 30th June 2017.
Perks for international travellers
Further insurance cover
Other insurance cover provided free of charge with the card will prove useful even if you never leave Australia. It includes:
The benefit of choice
Although it’s generally accepted that frequent flyer points are more cost effective than ordinary rewards program points, not everyone wishes to collect, or is able to use, QFF points. This card gives you the flexibility of deciding between QFF points and Amplify Rewards. The Amplify Rewards points, instead of being redeemed for gifts or gift vouchers, can be converted into frequent flyer points with other airlines: Virgin Velocity, Singapore Airlines Krisflyer or Malaysian Airlines Enrich miles.
Similar cards to consider
Before you decide, you might want to take a look at the competition. The American Express Qantas Ultimate Credit Card offers a better points earnings rate of 1.5 pts per $1 spent spent, plus 55,000 points and a 12 month zero-interest balance transfer, but it comes with a hefty $450 p.a. annual fee.
The Westpac Altitude Black Credit Card has, like the Bank of Melbourne card, the flexibility of choosing between frequent flyer and standard rewards program points, and also 80,000 points, but you’ll pay a $195 p.a. annual fee.
Who should consider this card?
Regular international travellers will be able to extract the best value from this card, with its suite of free insurance policies, the complimentary airport lounge passes, the concierge and hotel benefits, and the (temporary) higher overseas points earning rate.
The card will also appeal to anyone who would like to flip between QFF points and a bank’s in-house rewards program.
This card is the best credit card i have ever owned. You get great customer support from the Bank of Melbourne. It’s super easy to use when travelling all over the world.
I would highly recommend this card to anyone who is looking for a rewards-based credit card. I would definitely recommend using the bank as well, in conjunction with the card
|Cash advances||1.69%||20.24% p.a.|
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Rental vehicle excess cover (separate from travel insurance)
Valuation based on similar rental vehicle excess insurance policies available online.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years. Note that this benefit does not apply if cardholder chooses Amplify Rewards rather than Qantas Frequent Flyer points.
|Total estimated value||$1,391|
|Net customer value||$1,112|