HomeCredit CardsBank of MelbourneAmplify Rewards Signature - Velocity

Bank of Melbourne Amplify Rewards Signature - Velocity Credit Card

The Bank of Melbourne Amplify Rewards Signature - Velocity Credit Card offers 75,000 bonus Velocity Points. Ongoing benefits include Velocity Points via Amplify earned on eligible purchases, complimentary travel insurance, and Priority Pass airport lounge passes.

Updated 22 May 2024

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Expert Review

The Bank of Melbourne Amplify Rewards Signature - Velocity credit card is Bank of Melbourne's premium Velocity Frequent Flyer product. Featuring a competitive points earn rate which is uncapped, the card provides premium features such as insurances. This card earns Amplify Points, which can be converted to a variety of rewards, including Velocity Points. Further, the product has a $295 annual fee, including up to 55 interest free days.

Considering its key features, this card is most suitable to someone who wishes to be rewarded for their spend. Other benefits include Overseas Travel and Medical Insurance which is similar to equivalent products and no additional cardholder fees.

Bonus Points, Balance Transfer and discounted Annual Fee in first year.
For a limited time the Bank of Melbourne Amplify Rewards Signature - Velocity credit card has a bonus Velocity Points offer, where you could receive 75,000 bonus Velocity Points in the first year. Also, the product has a special 0% p.a. Balance Transfer offer for 24 months. Of note, there is also a 1% p.a. Balance Transfer fee which should be considered when evaluating the overall benefit of this offer. In addition, the product also has a $199 annual fee in first year, which is a saving of $96 from the standard fee of $295. To get this offer, there will be certain eligibility criteria that you should be aware of before you apply.

Product Details
Our top tier credit card that lets your earn Amplify points."
- Bank of Melbourne

Earn Velocity Points via Amplify#

0.75points per $1 spent

# This product earns Amplify Points which can be converted to Velocity Points. For your convenience, all above references to points are in the Velocity Points currency.

Account Fees

$295 annual account fee

Additional Cardholder Fees

No additional cardholder fee

Up to 1 additional cardholder

Transaction Fees

3.00% international transaction fee

Other fees may apply.


19.49% p.a. variable purchase rate

21.49% p.a. variable cash advance rate

Up to 55 interest free days on purchases


Overseas Travel Insurance

Interstate Flight Inconvenience Insurance

Transit Accident Insurance

Purchase Security Insurance

Price Guarantee Cover

Extended Warranty Insurance

Rental Vehicle Excess in Australia Insurance

Airport Lounge Access

2 x Priority Pass airport lounge passes each year

Bonus Points Offer

75,000bonus points

0% for 24 monthson balance transfers (1.00% BT fee applies), reverts to 21.49% p.a.

$199annual fee in first year

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Before applying for this product, you should read the Target Market Determination (TMD) available here on the Bank of Melbourne website.

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^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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