MyCard Premier Velocity
Churn value: $387 in flights.
You pay $300 in first-year fees.Spend $7,000 in 90 days.You get 40,967 Krisflyer points, worth about $615 in flights.
The recorded minimum requirements are that you can take a credit limit of at least $10,000. Meeting them does not guarantee approval.
It is only worth it if you pay in full each month and close the card before the next $300 fee.
Available
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?
$7,000 within 90 days — about $2,333 per month.
Can I get the card?
The minimum credit limit is $10,000. 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.
What do I do, step by step?
- Apply. Check the income and waiting rules in “Can I get this?” first. If you do not pass those, the bonus does not come.
- Spend $7,000 in 90 days on bills and shopping you had to pay anyway. Do not buy extra things just to hit the number.
- Pay in full each month. Interest can eat the whole bonus. The churn value at the top assumes you never pay interest.
- Use the points for flights. Points you never use are worth zero.
- Close the card before the next fee — keeping it costs $300 a year. The next section helps you decide if keeping it is worth it.
When this is not worth it
- You pay interest, or you cannot pay in full each month.
- You buy things you do not need to hit the spend target.
- You have no trip or use in mind for the points.
- You keep the card into year two out of habit and pay the fee again.
Should I keep it after the first year?
Keeping the card costs $300 each year ($300 annual fee) — the first year was $300.
The year-two bonus is 40,000 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 $300/yr.
What else makes the card useful?
Reward use
Ways to turn points into value.
- Points Transfer Benefits Compare across cards →Earn 1.5 MyCard Reward Points per $1 on all other eligible domestic transactions and 2 per $1 on direct travel and international spend. Transfer MyCard Reward Points to loyalty partner programs including Flybuys and Velocity Frequent Flyer.
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Earn 1.5 MyCard Reward Points per $1 on all other eligible domestic transactions and 2 per $1 on direct travel and international spend. Transfer MyCard Reward Points to loyalty partner programs including Flybuys and Velocity Frequent Flyer.
Purchase protection
Cover on things you buy with the card. Limits, excesses, and activation conditions apply.
- Purchase Protection Insurance Compare across cards →Eligible items charged to the card covered against theft, accidental damage or permanent loss for 90 days from purchase; jewellery, watches and new works of art limited to $5,000 per claim, up to $200,000 per card account in any 12-month period; no excess
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Eligible items charged to the card covered against theft, accidental damage or permanent loss for 90 days from purchase; jewellery, watches and new works of art limited to $5,000 per claim, up to $200,000 per card account in any 12-month period; no excess
- Extended Warranty Insurance Compare across cards →Extends the manufacturer's Australian warranty on eligible items charged to the card by up to one additional year (no cover if manufacturer's warranty exceeds 5 years); up to $10,000 per item and $40,000 per card account in any 12-month period; no excess
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Extends the manufacturer's Australian warranty on eligible items charged to the card by up to one additional year (no cover if manufacturer's warranty exceeds 5 years); up to $10,000 per item and $40,000 per card account in any 12-month period; no excess
- Mobile Phone Insurance Compare across cards →Covers accidental damage or theft of an eligible postpaid mobile phone when the preceding month's postpaid bill is paid in full with the card; up to $1,000 per occurrence and $1,650 annual aggregate, $50 excess
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Covers accidental damage or theft of an eligible postpaid mobile phone when the preceding month's postpaid bill is paid in full with the card; up to $1,000 per occurrence and $1,650 annual aggregate, $50 excess
Travel
Travel cover and perks. Most need qualifying bookings or payment with the card.
- Lounge Access Compare across cards →2 visits/year · Priority Pass
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Complimentary digital Priority Pass Standard Membership for the primary cardholder with 2 complimentary lounge visits per 12-month membership year (1,700 lounges worldwide); must enrol at prioritypass.com/premieraumc; additional and guest visits charged at standard rates
- Hotel Benefits Compare across cards →Up to 15% off eligible Luxury Escapes hotels and 10% off selected Expedia and Wotif hotels; max discount $250 per transaction on Luxury Escapes, promo codes apply
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Up to 15% off eligible Luxury Escapes hotels and 10% off selected Expedia and Wotif hotels; max discount $250 per transaction on Luxury Escapes, promo codes apply
- Travel Insurance Compare across cards →Up to $20,000,000 cover · trips up to 180 days
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Complimentary international travel insurance for trips up to 6 months when at least $500 of prepaid travel costs are charged to the card (cardholders aged under 81), with overseas emergency medical and assistance cover up to $20 million; complimentary domestic travel insurance also available for trips up to 28 days
- Rental Vehicle Insurance Compare across cards →Rental vehicle excess insurance in Australia covering damage or theft excess up to $10,000 per rental period when the entire rental is charged to the card; $100 excess per claim
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Rental vehicle excess insurance in Australia covering damage or theft excess up to $10,000 per rental period when the entire rental is charged to the card; $100 excess per claim
Account management
Tools for running the account — repayment helpers, not reward value.
- Concierge Service Compare across cards →Complimentary personal concierge service for the primary cardholder, provided by Mastercard Travel & Lifestyle Services
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Complimentary personal concierge service for the primary cardholder, provided by Mastercard Travel & Lifestyle Services
- No Additional Cardholder Fee Compare across cards →No additional cardholder fee ($0); up to 4 additional cardholders per account
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No additional cardholder fee ($0); up to 4 additional cardholders per account
- Balance Transfer Offers Compare across cards →0% p.a. for 6 months on balance transfers (no fee), or 0% p.a. for 12 months on balance transfers with a 3% balance transfer fee depending on offer chosen; reverts to cash advance rate (currently 22.99% p.a.) after the promotional period
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0% p.a. for 6 months on balance transfers (no fee), or 0% p.a. for 12 months on balance transfers with a 3% balance transfer fee depending on offer chosen; reverts to cash advance rate (currently 22.99% p.a.) after the promotional period
- Interest Free Periods Compare across cards →Up to 44 interest-free days on retail purchases
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Up to 44 interest-free days on retail purchases
- Installment Plans Compare across cards →MyCard Instalment Plan lets eligible cardholders pay off eligible purchases at a set interest rate over a set term using part of the existing credit limit
This is a repayment plan. It does not add reward value.
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MyCard Instalment Plan lets eligible cardholders pay off eligible purchases at a set interest rate over a set term using part of the existing credit limit
40,967 Krisflyer points at 1.5¢ a point − $300 in first-year fees. This is flight value, not cash. It assumes you earn the bonus and pay in full.
This offer is open now (terms from 2 Oct 2026).
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.
Did this help you make a decision?
Terms and evidence
Full current terms
Offer terms
First Year Points
60,000 points
Velocity
Second Year Points
40,000 points
With $300 annual fee
Minimum Spend
$7,000
within 90 days (about 3 months)
Cash Bonus
Ongoing Earn Rate
0.50x points per $1 spent
Fees
First Year Annual Fee
$300
Ongoing Annual Fee
$300
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)
- Points Transfer BenefitsUpdated Oct 2026
- Lounge AccessUpdated May 2026
Was 2 visits/year · Priority Pass (1,700+ lounges worldwide) → now 2 visits/year · Priority Pass.
- Hotel BenefitsUpdated May 2026
- Points Transfer BenefitsUpdated May 2026
- Installment PlansUpdated May 2026
- Interest Free PeriodsUpdated May 2026
- Balance Transfer OffersUpdated May 2026
- No Additional Cardholder FeeUpdated May 2026
- Concierge ServiceUpdated May 2026
- Rental Vehicle InsuranceUpdated May 2026
- Extended Warranty InsuranceUpdated May 2026
- Purchase Protection InsuranceUpdated May 2026
- Mobile Phone InsuranceUpdated May 2026
- Travel InsuranceUpdated May 2026
Now Up to $20,000,000 cover · trips up to 180 days.
Offer terms history (3 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Published 2 Oct 2026
Changes from terms version 2
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 the current terms (published 2 Oct 2026).
Community and personal tools
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