Balance Transfer Savings
0% Purchase Savings
You could save
Savings is an estimate of the amount saved on interest charges and annual fees, as a result of transferring an eligible balance to the 0% balance transfer card for the interest-free period.
The savings estimate is based on a daily compound interest rate formula, taking into consideration your inputs above, as well as applicable balance transfer and annual fees, along with the following assumptions:
• No additional purchases or withdrawals are made
• A minimum 3% balance repayment is made each month
• Annual fees for the current year are charged in the first month
• If applicable, the annual fee refund is processed in the month eligibility is met
• There are 30 days in each month
• Your existing card will be closed and will incur no further fees
• Other fees are excluded
All estimates are based on our assumptions and do not take into consideration your personal circumstances. Your experience may vary. Refer to our Website Terms & Conditions for more information.
Go to offer links directly to the bank’s website. Please ensure you review the full terms and conditions on the bank’s website prior to applying.
in 6 months
You could save
Savings is an estimate of the amount saved on interest charges and annual fees during the interest-free period, as a result of making a purchase on a 0% purchase card, rather than on your existing card.
The savings estimate is based on a daily compound interest rate formula, taking into consideration your inputs above, as well as the annual fee, along with the following assumptions:
• The purchase amount is incurred in the first month
• No additional purchases or withdrawals are made
• A minimum 3% balance repayment is made each month
• Annual fees for the current year are charged in the first month
• If applicable, the annual fee refund is processed in the month eligibility is met
• There are 30 days in each month
• Your existing card will be closed and will incur no further fees
• Other fees are excluded
All estimates are based on our assumptions and do not take into consideration your personal circumstances. Your experience may vary. Refer to our Website Terms & Conditions for more information.
Go to offer links directly to the bank’s website. Please ensure you review the full terms and conditions on the bank’s website prior to applying.
More info links to a detailed product page on our site.
in months
email mep.a.
p.a.
annual fees
| Mobile Cardless Payments | Yes Apple Pay Google Pay Samsung Pay |
|---|---|
| Card Type | American Express |
| Minimum Credit Limit | $3,000 |
| Interest Free Period The maximum period of time that no interest is charged on new purchases. May not be applicable if the account or closing balance is not paid in full by the due date. | Up to 55 days |
| Purchase Rate The standard interest rate that applies to purchases on the card | 20.74% p.a. |
| Rewards Program | Velocity Frequent Flyer |
| Annual Fee An annual fee is charged in full for each year or part of a year that the card is held. The annual fee may differ between the first and subsequent years. | $375 p.a. |
| Minimum Income | $65,000 |
|---|---|
| Minimum Age | 18 years of age or over |
| Temporary Resident Application | Yes - conditions apply, see bank site for details Long term visa of 12 months or more required. Does not include student visa |
| Joint Application | No |
| Bonus Points The promotional bonus points offered. A minimum spend requirement within a set time period may apply. For example, in order to earn 90,000 bonus points, you may need to spend at least $3,000 per month on eligible transactions during the first three months. Some transactions may be excluded or earn points at a reduced rate, e.g. cash advances, government or foreign transactions. Conditions apply. Refer to the bank's website for full T&Cs. | 100,000 Receive 100,000 bonus Velocity Points plus 75 bonus Status Credits and get $100 back when you apply online by 8 December 2020, are approved and spend $3,000 on your new Card within the first 3 months. |
|---|---|
| Rewards Earn Rate per $ spent The number of rewards points earned for each eligible dollar spent on the card | 1.25 points per $ Earn 1.25 Velocity Points per $1 spent on purchases. Excludes government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent |
| Additional Cardholder Fee Fee incurred for adding an additional cardholder to the account | $0 p.a. |
|---|---|
| Dishonour Fee | $6 Charged each time a cheque or Direct Debit payment is dishonoured |
| Maximum Additional Cardholders Maximum number of additional cardholders | Up to 4 |
| Minimum Monthly Repayment The minimum repayment that must be paid by the payment due date to avoid incurring late fees. Interest will still be charged on the remaining amount owing. | 2.5% or $30, whichever is greater |
| International Transaction Fee Fee incurred for transactions made in foreign currency | 3% of the transaction value |
| International Cash Advance Fee | $2.50 or 2% of the cash advance amount (whichever is greater) |
| Late Payment Fee Fee incurred if the minimum repayment is not paid by the due date | $30 |
| Annual Fee An annual fee is charged in full for each year or part of a year that the card is held. The annual fee may differ between the first and subsequent years. | $375 p.a. |
| Travel Insurance Terms, conditions, limits and exclusions may apply, check product site for details | Yes International travel insurance Domestic travel insurance travel inconvenience insurance |
|---|---|
| Purchase Insurance Terms, conditions, limits and exclusions may apply, check product site for details | Yes Refund protection Purchase protection Online fraud protection |
| Concierge Service | Yes 24/7 Concierge Service |
| Additional Extras | Yes Complimentary domestic return flight with Virgin Australia to selected cities, each year after your first Card spend Enjoy two complimentary Virgin Australia lounge passes each year at selected domestic airports |
