MoneyMe Freestyle Virtual Credit Card: a brief guide

MoneyMe is making fiction into reality by its MoneyMe Freestyle Virtual Credit Card, a card that can only be used online or in a digital wallet.
MoneyMe Freestyle Virtual Credit Card

Credit Cards revolutionized banking by squeezing all your finances into a single plastic card. The growing popularity of these cards made them a need rather than an opportunity. Banks are coming up with more advanced and sophisticated cards with many perks and offers. The virtual credit card concept seemed like fiction a few years ago, but it is real now! MoneyMe is making this fiction into reality by its MoneyMe Freestyle Virtual Credit Card, a card that can only be used online or in a digital wallet.

It has removed the long waits and delays for a plastic card. A great choice for the tech-savvy Aussies who like everything fast and want to keep their banking entirely online. Use your card within the minutes of your approval. It also offers up to 55 interest days, cash rewards, and an option to transfer money to anyone. One of the best features of this credit card is that you can manage your Annual fee based on your credit limit.

MoneyMe Freestyle Virtual Credit Card benefits

You can enjoy up to 55 interest-free days on different purchases with the MoneyMe Freestyle Virtual Credit Card. Which are longer than the standard 44 days offered by others. 55 interest-free days means if you pay your balance in full by the due date each month, you will not have to pay a cent on purchases. Since this is a virtual credit card you will need a compatible device with Apple Pay or Google Pay to make the purchases.

The approval process is fast and usually, it takes an hour or less. Once you get the approval, you can transfer funds or add this card to your digital wallets and enjoy shopping. Transferring money is pretty simple. With just a few taps or clicks you can transfer money to your bank account. You must remember that the transfer from the virtual credit card will count as a cash advance transaction. This means a cash advance rate of 16.99% will apply to the transaction straight away.

MoneyMe Freestyle Virtual Credit Card

Other credit cards charge a relatively higher interest rate, some even charge 21% but the MoneyMe Freestyle Virtual Credit Card interest rate is comparatively low on both purchases and cash advances. This interest rate varies and depends on your credit score and history. You will have to pay higher if your credit score and history do not meet the required criteria. If you want to benefit from the offers, we strongly suggest you opt for a better credit score.

Credit ranges

The MoneyMe Freestyle Virtual Credit Card offers 3 credit limits providing you with an option to choose that best suits you. The standard option is the maximum of $20,000 but you can request any of the low range limits. The credit limit is approved by the authorities based on your application and credit history. There will be no annual fee if the credit limit is between the ranges of $1,000 to $3,000. For the range of $3,001 to $5,000, there is an annual fee of $49.

The MoneyMe Freestyle Virtual Credit Card app

The MoneyMe app provides you the opportunity to easily manage your payments, credit limits, and other preferences from your phone. There is the Tap n Pay feature that provides you the comfort of in-store purchases and online payments. With the MoneyMe login credentials, you can pay online at any Freestyle partner. This credit card will have an option of a peer-to-peer transfer soon, which will allow you to pay anyone, anywhere right on the spot.

Advertising

With the MoneyMe Freestyle Virtual Credit Card, you can get the credit back if you shop at the partner stores. Use your MoneyMe app and browse for the deals and pay with your virtual card, and the money will be credited back to your account. There are over 1400 partner stores including Nike, Apple, eBay, THE ICONIC to name a few. Please check the details of partners on the website or the MoneyMe app.

MoneyMe Freestyle Virtual Credit Card rates and fees

The interest rate and cash advance rate are 16.99% p.a but they may vary depending upon your credit score and history. The interest varies between 16.99% to 25.99% p.a. A $5 monthly fee will be charged if your balance is above $20. The Minimum credit limit for this card is $1000 and the maximum limit is $20,000. A Foreign transaction fee of 2.99% will apply if you use the MoneyMe Freestyle Virtual Credit Card for any overseas payments or currency exchange. The late or missed payment fee is $15.

Eligibility criteria for the MoneyMe Freestyle Virtual Credit Card

If you want to apply for the MoneyMe Freestyle Virtual Credit Card you must be an Australian citizen and the minimum age limit is 18. Permanent residents with a long-term visa (12 months or more) can also apply. You must possess a good credit history with no default payment or any unpaid debt. Keep reading this article to learn about the application process.

The application process

The online application process for the MoneyMe Freestyle Virtual Credit Card is AI-based and is fast and secure. If you are lucky enough you can get approved within a few minutes. In the first step, you will have to enter your full name, permanent address, contact number, email address, and date of birth. Then you will have to proceed with the marital stats, the number of dependents, residential status, and citizenship status.

In the next step of the application for the credit card, you will have to provide proof of identity like a birth certificate or driver’s license. The next step will be uploading proof of your income and employment such as payslips. If you don’t want a physical plastic and want to manage everything digitally, MoneyMe Freestyle Credit Card is best for you.

It is also the best option if you are tired of the long waits for your card approval and want a fast application and approval process. The benefit of a possible low-interest rate (that depends on your credit history) is amazing. The credit limit is quite low and big spenders might not like that. Keep reading our articles to know more details about amazing credit cards.