This page is my best effort to summarise the card's terms from the information I found. Read the bank's terms for full details, or contact the bank if you have questions.
I'd like to use my bonus for:
Can I get this?
This offer is advertised to the public. Bonus conditions and the bank’s approval requirements still apply.
Can I get this bonus if I have held a card before?
I have not checked the waiting period for this bonus. No fixed waiting period. MyCard's terms say the bonus is "only available when you apply for a new" card and "not available when closing or transferring from another MyCard branded credit card account." Whether closing one MyCard and immediately applying for another qualifies isn't spelled out — confirm with MyCard.
See the waiting rules for every Australian bank →What must I spend?
$12,000 within 90 days — about $4,000 per month.
Can I get the card?
The minimum credit limit is $20,000. This is the least the bank may let you borrow.
I do not have a minimum income for this card.
Meeting the bonus rules does not mean the bank will approve your application. The bank must assess and approve the card separately.
How long is this available?
I do not have an end date for this offer.
Should I keep it after the first year?
Keeping the card costs $700 each year ($700 annual fee) — the first year was $700.
The year-two bonus is 50,000 Velocity points.
Ongoing earn: 0.50x Velocity points per $1.
Keeping pays off only if you meet the second-year conditions and use the points and benefits enough to cover $700/yr.
$700 in Coles gift cards (150,241 of 156,000 Velocity points; 5,759 left over) − $700 card fee. Assumes you earn the bonus and pay in full; extra spend or interest changes the outcome.
This offer has ended. I keep this page so you can check the old terms.
What this calculation assumes
- You make the required purchases and the bonus is paid.
- You pay the balance in full — any interest changes the outcome.
- The required spend is ordinary planned spending, not extra cost.
- You close the card before the next annual fee, or you decide keeping it is worth that fee.
- Gift card prices can change. I check them again at renewal time.
Did this help you make a decision?
Terms and evidence
Full current terms
Offer terms
First Year Points
150,000 points
Velocity
Second Year Points
50,000 points
With $700 annual fee
Minimum Spend
$12,000
within 90 days (about 3 months)
Ongoing Earn Rate
0.50x points per $1 spent
Fees
First Year Annual Fee
$700
Ongoing Annual Fee
$700
From year 2 onwards
Purchase Interest Rate
22.49% p.a.
The value above assumes you pay in full and never pay this. Any interest changes the outcome.
Benefit history (14 changes)
- CashbackRemoved May 2026
- Installment PlansUpdated May 2026
- Lounge AccessUpdated May 2026
Was 15 visits/year · Priority Pass network lounges, selected airport restaurants (AUD$36 credit per visit) → now 15 visits/year · Priority Pass.
- Interest Free PeriodsUpdated May 2026
- Balance Transfer OffersUpdated May 2026
- Points Transfer BenefitsUpdated May 2026
- No Additional Cardholder FeeUpdated May 2026
- Concierge ServiceUpdated May 2026
- Mobile Phone InsuranceUpdated May 2026
- Rental Vehicle InsuranceUpdated May 2026
- Extended Warranty InsuranceUpdated May 2026
- Purchase Protection InsuranceUpdated May 2026
- Travel InsuranceUpdated May 2026
- Hotel BenefitsUpdated May 2026
Offer terms history (2 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Changes from terms version 1
First recorded terms
Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.
Discussion
About these ended terms (published 19 Dec 2025) — not the current offer.
Community and personal tools
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