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Bank of Melbourne Vertigo Card – Cashback Offer

Offers up to $400 cashback and a $0 annual fee for the first year, with a $55 annual fee after that.

The Bank of Melbourne Vertigo is a no-frills credit card with a competitive interest rate of 13.99% p.a. for purchases and interest-free days if you pay your balance off in full by the due date on each statement.

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13.99% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($55 p.a. thereafter)

55 days

Interest free period

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Product NameBank of Melbourne Vertigo Card - Cashback Offer
Balance transfer revert rateCash Advance Rate (21.49% p.a.)
Purchase rate p.a.13.99%
Annual fee$0 for the first year ($55 thereafter)
Interest-free periodUp to 55 days on purchases
Cash advance rate21.49% p.a.
Min credit limit$500
Max credit limit$80,000
Card typeVisa
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationNo


  • Up to $400 cashback
  • $0 annual fee for the first year ($55 p.a. thereafter)
  • Free additional cardholder


  • No rewards program
  • No additional perks like insurance covers or travel benefits
Bonus pointsN/A
Annual fee$0 for the first year ($55 thereafter)
Minimum monthly repayment2% of the closing balance or $10, whichever is greater
Late payment fee$15
Foreign currency conversion fee3%
Cash advance fee2% or $2.50, whichever is greater
Overseas cash advance fee2% or $2.50, whichever is greater
Additional cardholder fee$0
Number of additional cardholders1

Review by

Amy has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Bank of Melbourne Vertigo credit card gives you a mix of low-cost features without the bells and whistles offered by some other cards. For starters, you’ll save with a $0 annual fee for the first year. A $55 annual fee kicks in after that, which is still competitive with other credit cards in this category.

How to apply

You can apply for the Bank of Melbourne Vertigo credit card online in around 10 minutes. Get started by checking that you meet the eligibility criteria and have all the documents and details you need to complete the application.

Eligibility criteria

  • New cardholder. The cashback offer is only available when you apply for the Bank of Melbourne Vertigo credit card as a new cardholder.
  • Residency. To apply online, you must be an Australian citizen or permanent resident.

Card benefits

  • Up to $400 cashback. You'll get 5% cashback (up to $400) when you apply by 30 June 2022 and spend on eligible purchases at any participating supermarket (including Coles, Woolworths, IGA, Harris Farm and Aldi) by 31 December 2022. Eligible spending covers most everyday spending. Transactions that won't count towards the spend requirement include gift card or eGift card purchases at the participating supermarkets, fees, cash, cash-equivalent transactions and third party payments such as AfterPay, BPAY, PayPal or PayPal equivalent. The 5% cashback will be credited to your account within 30 days of meeting the spend requirement.
  • $0 first-year annual fee. If you apply and get approved for a Bank of Melbourne Vertigo Classic card, you'll get a $0 annual fee for the first year. After the first year, a $55 annual fee applies.

Rates & fees

  • Annual fee. Outside of any promotions, this card charges a $55 annual fee.
  • Credit limit. This card has a minimum credit limit of $500.

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