14 December, 2015
Industry super-fund owned bank ME has taken out swag of awards for its low-cost credit card, frank, including:
ME’s low-cost credit card, frank boasts no annual fee± and a low variable interest rate for both purchases and cash advances* at 9.99% p.a.^ (cash advance and transaction fees may apply).
ME Chief Marketing Officer, Rebecca James said receiving multiple awards was an outstanding achievement given frank has been in market less than seven months. “We attribute success to frank’s simple design and super low rate.
“Unlike some other low-rate cards on the market, frank has no annual fee±.
“We’re pleased to see how these simple yet appealing features are resonating with Australian consumers, and getting recognised by reputable organisations along the way.”
Things you should know
^Interest rate current at 14 December 2015 and subject to change.
*Cash advance fee of $4 or 2% of the amount of the cash advance (whichever is greater) and other transaction fees may apply.
±Terms, conditions, fees and charges apply and are subject to change.
Applications are subject to credit approval.
(1)Winning cards were ranked by total cost to cardholders (including interest and annual fees) of revolving a $2,500 debt over the prior 12 months.
(2)Winning cards were judged the easiest for cardholders to avoid paying any fees as long as all spend was Australian purchases and they paid their outstanding balance in full each month.
(3)Winning cards were judged the cheapest for cardholders with an ongoing revolving balance.
(4)Cards were awarded stars based on features including fees, interest rates and number of interest free days. Cards that obtained a score in the top 10% received a five-star rating. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.