Media Centre

11 August 2011

ME Bank wins Gold for Best Low Rate Credit Card

Following in the footsteps of last week's prestigious Gold Medal Award for its Home Loan Package at the Mortgage of the Year Awards, ME Bank has won gold again, with Your Money Magazine awarding ME Bank a Gold Medal for Best Low Rate Credit Card.

The Your Money research team examined all major low rate credit cards in the market, dividing them into three separate categories by types of spenders.

"ME Bank is the genuine banking alternative for members of industry super funds and unions. This new award is proof that the ME Bank MasterCard® offers a genuinely low interest rate and a low annual fee, representing great value for our customers," said Ian Hendey, ME Bank's Group Executive, Brand, Product and Distribution.

"We understand that customers respond to products that are simple, fair and transparent. They appreciate we are not out in the market luring new customers with non transparent inducements such as short term balance transfers where if you can't pay off the balance within this period the interest reverts to a much higher rate or purchase rates that are much higher than the special balance transfer offer. It is in our DNA to offer all our customers better value banking products and services. This award just proves it."

Your Money's research team assessed ME Bank's Low Rate MasterCard on a number of factors including:

  • the accrued interest and fees over 12 months;
  • purchase rates;
  • annual fees;
  • interest free days;
  • cash advance rates;
  • late fees; and
  • balance transfer options/rates.

The interest on ME Bank's low rate MasterCard stays the same, irrespective of how customer balances accrue. Moreover, repayment is managed in a way that aims to reduce the overall cost of using the card.

ME Bank is the only bank in Australia which is 100 percent owned by Australia's super industry funds. For more information on ME Bank - a genuine banking alternative - please visit www.mebank.com.au

Media Enquiries

Burson-Marsteller
Peri Muddle, Senior Associate
0421 685 285

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