ME frank Credit Card – Rates and Fees

Information verified correct on July 1st, 2016
ME Bank frank Credit Card Find out more Go to site

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  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Keep interest costs low, consolidate your debt and pay no annual fee with the ME frank Card.

If you’re looking for a low cost card that doesn’t charge you for features and benefits that you won’t use, you might want to consider the ME frank Card. It offers one of the lowest interest rates in Australia at 9.99% p.a. and no annual fee, helping you save more when you spend. The card comes with minimal fees and the option to request additional cardholders for free.

Product NameME Bank frank Credit Card
Purchase rate (p.a.)9.99% p.a.
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)9.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Minimum Monthly Repayment3% or $10 (whichever is the greater)
Minimum Income$25,000
Card TypeMasterCard
Late Payment Fee$10
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Annual Fee$0 p.a.
Minimum Repayment3% or $10 (whichever is the greater)
Late Payment Fee$10
Cash Advance Fee$4 or 2% of the cash advance amount (whichever is greater)
Overseas Emergency Replacement$100
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders8

ME frank Card review

The ME frank Card is a low cost card. You’ll enjoy the same low rate for purchases, cash advances and balance transfers at the cost of no annual fee, helping you to manage your account and expenditure. As this is a MasterCard, you can use it in millions of locations worldwide, and you can also take advantage of secure shopping with MasterCard’s Zero Liability Policy.

Benefits of a ME frank Credit Card

  • Annual fee. You won’t pay an annual fee with this card.
  • Interest-free period. When you pay your balance back in full for the previous statement period, you’ll receive up to 55 days interest-free on purchases. The actual length of time will depend on when you make the purchase in your payment cycle.
  • Additional cardholders. Add up to 8 additional cardholders for free onto your account and receive one simple statement to manage – no matter how many cardholders you have. To request additional cardholders, you can download an Additional Cardholder Request form from the ME website to fill in and email or fax back to ME.
  • Secure shopping. When you shop online, in-store, or over the phone your transactions will be protected by MasterCard’s Zero Liability Policy. This policy covers you in the case of unauthorised transactions being made on your card, as long as you meet a few conditions. This includes you exercising care when making purchases, your account being in good standing, and you notifying ME of the loss, theft or unauthorised use immediately.
  • Choice of card colour. You can select from two different colours for this card which comes with white and black.

Features of the ME frank Credit Card

This card comes with a range of features that make it competitive as well as low cost. When you apply and are approved for the ME frank Card, you’ll enjoy the following features:

  • Purchase rate. This card comes with a competitive purchase rate of 9.99% p.a.
  • Cash advance rate. When you withdraw money using your card you’ll be charged a rate of 9.99% p.a. Keep in mind there’s also a cash advance fee of $4 or 2% of the cash advance amount (whichever is greater).
  • Balance transfer rate. If you want to bring an existing credit card balance over to the ME frank Card you’ll pay a rate of 9.99% p.a. on that balance.
  • Convenient purchases. You can use this card everywhere MasterCard is accepted, which includes million of locations worldwide. You can also enjoy PayPass to Tap & Go for purchases under $100.

How to apply for the ME frank Credit Card

If you’d like to apply for the ME frank Card, click ‘Go to Site’ to get the application process started. Make sure you check the below criteria to see if you’re eligible, and also ensure you have the required documents on hand for a quick application process.

Eligibility criteria

  • Australian citizen or permanent residency
  • At least 18 years of age
  • Have a good credit rating
  • Earn a minimum of $25,000 a year

Required documents

  • Your driver’s licence number
  • Details on your income and living expenses
  • Details of your savings, assets and debts
  • If you’re self-employed, you’ll need your accountant’s details
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132 Responses to ME frank Credit Card – Rates and Fees

  1. Default Gravatar
    Nat | June 24, 2016

    Can I earn Frequent Flyer points and rewards points with the ME Frank credit card?
    Does it include free Travel Insurance if I purchase the flights with the ME Frank credit card?
    Thank you
    Nat

    • Staff
      Anndy | June 24, 2016

      Hi Nat,

      Thanks for your question.

      Unfortunately, you can’t earn frequent flyer points with ME frank Credit Card. It also does not come with a complimentary travel insurance cover.

      You can refer to this page to compare frequent flyer credit cards.

      I hope this helps.

      Cheers,
      Anndy

  2. Default Gravatar
    Alicia | June 2, 2016

    Can I use this card for over seas travel? And what are the purchase fees for purchases?

    • Staff
      Anndy | June 2, 2016

      Hi Alicia,

      Thanks for your comment.

      Yes, you can use ME frank Credit Card overseas, however, it is subject to certain fees including:

      International transaction fee – 1.5% of the amount of any foreign currency transaction converted into Australian dollars

      MasterCard conversion fee – 0.2% of the amount of any foreign currency transaction converted into Australian dollars

      MasterCard cross border fee – 0.8% of the amount of any transaction where the merchant account is not held in Australia

      For your convenience, I’ve emailed you the link to ME frank Credit Card fees fact sheet.

      I hope this answers your question.

      Cheers,
      Anndy

  3. Default Gravatar
    Cherylynn | May 31, 2016

    Can I transfer a personal loan onto a new credit card?

    • Staff
      May | May 31, 2016

      Hi Cherylynn,

      Thanks for your question.

      Yes, you can. Citi and Virgin Money credit cards give you the ability to transfer balances from personal loans. Please feel free to visit this page to compare your options.

      I hope this is helpful.

      Cheers,
      May

  4. Default Gravatar
    Joanne | May 29, 2016

    Hi I put in an application this afternoon & haven’t heard anything yet has it been approved or not thanks Joanne zahra

    • Staff
      Ysa | May 30, 2016

      Hi Joanne,

      Thanks for your question.

      Please note that you’ve come through finder.com.au, an online comparison service and is not directly affiliated with ME bank.

      Should you wish to track your application, please speak directly with a member of the ME bank customer service team. Kindly refer to the link I’ve forwarded to your email for their contact details.

      For further information, you might also like to check our guide on how to check credit card application status.

      I hope this has answered your question.

      Cheers,
      Ysa

  5. Default Gravatar
    Jason | May 25, 2016

    Hi, your site states that the ME Bank No Annual Fee Credit Card is a great card for students, yet when I contacted ME Bank by phone to apply they said it is not suitable for students. I am confused, could you please investigate and clarify for me?

    • Staff
      Ysa | June 7, 2016

      Hi Jason,

      Thanks for your question.

      Please note that the credit cards compared on Student Credit Cards category vary from features of low interest rates, annual fees, credit limits and income brackets which can be ideal for students. The type of credit card will vary depending on the individual’s needs and spending requirements.

      To allow us to assist you further, could you please state which features you’re after?

      Cheers,
      Ysa

  6. Default Gravatar
    Saung | May 13, 2016

    Hi, I want to apply ME bank credit card, can you give more information about purchase rate, how do you charge this rate if I settle the credit on time.

    • Staff
      Anndy | May 13, 2016

      Hi Saung,

      Thanks for your question.

      Please note that finder.com.au is a financial comparison and information service and is not ME Bank.

      ME frank Credit Card is a low-interest rate credit card that comes with 55 days interest-free period. The minimum repayment for this card is 3% of your balance or $10 (whichever is the greater). However, you can avoid paying interest on purchases each statement period by paying your balance in full each month.

      I hope this helps.

      Cheers,
      Anndy

  7. Default Gravatar
    Lin | April 11, 2016

    Hi, I’m looking to use this card to purchase a holiday. If I spend $10,000 in the first month then spend the rest of the year repaying it, what would my daily/monthly interest be? What would my minimum monthly repayments be? If I paid it off within a year would I incur any fees should I wish to stop using it?

    • Staff
      May | April 12, 2016

      Hi Lin,

      Thanks for your inquiry.

      ME frank Credit Card has a purchase rate of 9.99% p.a. So to get your daily and monthly interest rate, you’ll need to divide that rate by 365 days (for daily rate) and multiply the result by 30 days (to get the monthly rate). As for your monthly minimum repayment, after the interest has been calculated and charged to your outstanding balance, you’ll need to pay at least 3% of your balance or $10 (whichever is the greater).

      There is no fee should you wish to close or cancel your card, just make sure that no outstanding balance that will remain on your card.

      Hope this answers your question.

      Cheers,
      May

  8. Default Gravatar
    Stacet | April 6, 2016

    Hi, can we use the Credit Card overseas?

    • Staff
      Ally | April 6, 2016

      Hi Stacet,

      Thanks for your reply.

      Yes, the ME Frank credit card can be used overseas but transaction fees will incur.

      I just emailed you their fact sheet for guidance.

      I hope this has helped.

      Cheers,
      Ally

  9. Default Gravatar
    Gina | March 19, 2016

    Where can I go to discuss a credit card and bank account with a person rather than online? Donvale/Templestowe/Doncaster/Mitcham in Victoria
    ?

    • Staff
      Ysa | March 20, 2016

      Hi Gina,

      Thanks for your question.
      Please refer to the link I have forwarded to your email for ME bank’s contact details and Head Office address.

      Cheers,
      Ysa

  10. Default Gravatar
    Gina | March 19, 2016

    Is Frank Credit card affiliated with any rewards schemes?

    • Staff
      Ysa | March 20, 2016

      Hi Gina,

      Thanks again for your question.

      Unfortunately, ME frank Credit Card does not come with rewards program.
      For more options, please refer to our Rewards Program Credit Cards page.

      Cheers,
      Ysa

Credit Cards Comparison

Rates last updated July 1st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. Also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 40,000 bonus Qantas Points on eligible spend within 3 months. A balance transfer offer of 0% p.a. for 6 months with access to premium benefits and complimentary insurance.
19.99% p.a. 0% p.a. for 6 months $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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