How do credit cards work?

A credit card lets you borrow money from a lender and use it for purchases or transactions, offering a flexible way to manage finances. This revolving line of credit comes with a specific credit limit. Your credit card repayments and associated fees vary based on the type of card and your usage.

What are the different types of credit cards?

There are several types of credit cards designed to suit different financial goals: Rewards & Cashback Cards: These are designed for everyday spenders who want to earn value back on their purchases. For example, a Cashback Rewards Card allows you to earn a percentage of your spend back as a monthly credit. Low-Rate Cards: Best for those who may carry a balance from month to month, these cards focus on keeping interest costs as low as possible. Virtual or Digital Cards: Designed for the modern world, these cards live entirely in your mobile wallet (like Apple Pay or Google Pay). They offer access upon approval and remove the need for physical plastic. Premium & Travel Cards: These often come with higher limits and travel-specific benefits, suited for frequent flyers or high-volume spenders.

Where can I use a credit card?

You can use your card for almost anything - everyday transactions, large purchases, or secure online payments. Once added to your mobile wallet for Apple Pay or Google Pay, you can tap and pay anywhere Mastercard is accepted globally.

How does the interest-free period work?

Your interest-free period starts when your statement cycle begins, not when you make a purchase. Your card has a statement cycle of up to 30 days, plus 14 days until your payment due date. With up to 44 days interest free, a purchase on the first day of your cycle gives you the full 44 days before payment is due. A purchase on the last day gives you 14 days. Pay your statement balance in full by the due date and you stay interest free. Leave even $1 unpaid and interest kicks in straight away on both the remaining balance and any purchases in the next statement period. Lost your interest-free period? Pay your next statement balance in full by the due date and it resets.

What’s the difference between Visa and Mastercard?

Visa and Mastercard are global payment platforms that enable card transactions. The key differences usually lie in the specific merchant perks and security features offered by the card provider.

Am I eligible to apply for a credit card?

To apply for a MONEYME Cashback Rewards Card, you must be at least 18 years old, an Australian resident or citizen (or New Zealand citizen), and have a regular income of at least $30,000 per year.

Can I get a credit card with a poor credit score?

MONEYME considers factors beyond your credit score, such as your income, expenses, and financial commitments, to assess eligibility fairly.

How do I apply for a credit card?

The process is 100% digital. Apply online or through the MONEYME app for a streamlined process that takes only a few minutes. You can even choose our express application option to access a $2,000 credit limit in as little as 5 minutes, or complete a full application for higher limits up to $20,000.

How can I manage my credit card account?

Your MONEYME app is your digital command center. From your phone, you can view your transaction history in real-time, check your balance, make repayments, and track your 1% monthly cashback. You can also access these features through our secure online Member’s Area.

Can I pay anyone using my card?

Yes! A key feature of our credit cards is the "Pay Anyone" tool in the MONEYME app. This allows you to transfer funds directly from your credit account to any Australian bank account, giving you the flexibility to pay for services or bills that don't traditionally accept Apple Pay or Google Pay. “Pay Anyone” transact at 3%.

What is a credit limit?

A credit limit is the maximum amount you can borrow on your credit card. At MONEYME, we offer limits up to $20,000, determined by factors like your income, credit history, and overall financial profile.

How do credit card companies determine a credit limit?

Lenders assess your repayment ability by looking at your income, existing financial commitments, and credit history. This allows us to set a limit that provides you with flexibility while remaining a responsible fit for your budget.

How can I increase my credit limit?

You can request a higher credit limit up to $20,000 at anytime. We will review your repayment history and existing financial stability before approval.

What are the costs associated with credit cards?

Most credit cards include an annual fee. The MONEYME includes an annual fee of $149, which covers your 1% monthly cashback and premium insurance perks. Other fees include a dishonour fee of $15, a late payment fee of $35 and 3% foreign exchange fee for international purchases or cash advances. We believe in total transparency, so you’ll always see your specific rates and fees upfront.

What is a late payment fee?

Failing to meet your minimum monthly repayment by the due date can result in a late payment fee of up to $35. You can easily set up direct debits in the MONEYME app to help avoid these charges.

Can I pay off my credit card earlier?

Yes! You can pay off your balance early at any time without incurring any additional fees or penalties. Paying your balance in full by the due date is the best way to take advantage of your up to 44 days interest-free period.

What happens if my credit card is lost or stolen?

Because the MONEYME Cashback Rewards Card is 100% digital, there is no physical plastic to lose or have stolen. Your card lives securely in your phone's digital wallet, protected by biometric security like FaceID or a fingerprint. If your device is lost, you can lock your account instantly via the MONEYME app on another device or the Member’s Area via the web. If your card details have been stolen, you can block your card in the MONEYME app and we can reissue you a new card straight away.

Can I use my credit card overseas?

Yes, your card is ready for international use anywhere Mastercard is accepted. Whether you’re shopping online with an overseas merchant or using Apple Pay or Google Pay at a terminal overseas, a 3% foreign exchange fee applies to international transactions, in addition to the prevailing Mastercard exchange rate.

How can I make a complaint?

We value your feedback and aim to resolve any issues as quickly as possible. You can lodge a complaint by contacting MONEYME via email or phone, and our team will review and resolve your concerns promptly.

Credit Card Australia | Earn Cashback on Everyday Spend

Really Quick!

Application process was very simple and then funds transferred almost instantly. Emails communicated instructions very clearly. Constant communication all the way along and app and website worked really well.

Definitely a 5 star rating

I think moneyme is very easy to work with, very helpful and went out of their way to make my loan go thru faster as I needed it to happen quickly, and a very fair rate, definitely a 5 star rating, Thank you MONEYME

Very easy and fast to use

Had funds within 2hrs of application. Fantastic experience!

MONEYME were absolutely amazing.

The entire process was incredibly fast, easy and stress-free from start to finish. I signed the contract and literally within seconds the funds were in my account. MONEYME exceeded my expectations. Without a doubt one of the best lending experiences I've ever had. I'll definitely be back and would highly recommend them to anyone looking for quick, hassle-free finance.

Fantastic

I cannot believe how easy the process was. I had the money in my account in under 3 hours from the time I applied! I had argued with my bank for a week before I found MONEYME I would recommend this company to everyone.

I had a great experience with this car finance company.

The entire process was smooth, quick, and stress-free. The team was professional, friendly, and explained everything clearly, making it easy to understand my finance options. They kept me updated throughout the process and worked hard to get my loan approved as quickly as possible. I would definitely recommend them to anyone looking for reliable and efficient car finance services. Thank you for making my car purchase so easy!

MONEYME has been extremely helpful

In assisting me with finance and recently refinancing my car loan to be able to upgrade my car. I would recommend them when looking for a loan company either for personal or car finance.

I'd definitely recommend MoneyMe.

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Fast and simple

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Highly recommend

Very informative, and very helpful and very fast with approval, i think it took about 2 days in total from applying to funds in my account and paying for the car, the loan term was also better than i expected and the repayments less than i thought, would highly recommend

MONEYME has always been amazing.

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Helpful and easy

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