Save money with 0% p.a. on balance transfers for 24 months when you apply for the Bank of Melbourne Vertigo Platinum Card.
Bank of Melbourne’s Vertigo Platinum Credit Card is a low rate credit card that offers a host of attractive benefits and features. This card gives you a chance to save money on existing credit card debt with a balance transfer offer of 0% p.a. for 24 months, with a one-time 1% balance transfer fee. This offer is valid for new applicants who sign up for a card before 26 September 2018.
Other features of the Bank of Melbourne Vertigo Platinum include complimentary insurance, a 24/7 Visa Platinum Concierge and Visa payWave contactless technology. Customers looking for similar offers on a card with fewer features and a lower annual fee might like to consider the Bank of Melbourne Vertigo Visa.
|Product Name||Bank of Melbourne Vertigo Platinum|
|Balance transfer rate (p.a.)||0% p.a. for 24 months with 1% balance transfer fee|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Cash Advance Rate (19.49% p.a.)|
|Balance Transfer Limit||80% of available credit limit|
|Purchase rate (p.a.)||12.74% p.a.|
|Offer end date||26 September 2018|
|Annual fee||$99 p.a.|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 55 days on purchases|
|Cash advance rate (p.a.)||19.49% p.a.|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Max credit limit|
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
|Foreign Currency Conversion Fee (VISA)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|3% of transaction value|
|Complimentary Travel Insurance||Yes|
|Minimum Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|Annual fee||$99 p.a.|
|Minimum Monthly Repayment||2% or $10, whichever is greater|
|Late Payment Fee||$15|
|Cash Advance Fee||2%|
|Overseas Cash Advance Fee||2% of the value of the transaction or minimum charge of $2.50|
|Foreign Currency Conversion Fee|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|Gambling Transactions Allowed||Yes|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||3|
- Enjoy a low balance transfer of 0% p.a. for the first 24 months, requested at card application.
- This card features a range of complimentary insurance including extended warranty for purchases and overseas travel insurance.
- This card does not offer any rewards program for your spending.
- A one-time 1% balance transfer fee applies.
Bank of Melbourne Vertigo Platinum review
Bank of Melbourne's Vertigo Platinum is a premium low rate credit card that offers a range of features not available on more basic cards. This includes a range of complimentary insurance covers, a 24/7 Visa Platinum Concierge Service and the ability to add an additional cardholder at no extra cost.
Benefits of the Bank of Melbourne Vertigo Platinum
- Long-term balance transfer offer. This card offers a long-term balance transfer offer of 0% p.a. for 24 months with 1% balance transfer fee when you apply by 26 September 2018. A variable cash advance rate of 19.49% p.a. applies after the promotional period ends.
- Overseas travel insurance. This complimentary insurance includes medical expenses, unexpected trip cancellation and rental vehicle excess for trips of up to six months. It offers cover for you, your spouse and/or dependent children if you meet the eligibility criteria before you leave, including pre-paying travel costs using your credit card in accordance with the Credit Card Complimentary Insurance Terms and Conditions.
- Purchase cover insurance. This insurance provides four months of cover for the theft, loss or damage of selected new purchases made using the card.
- Extended warranty insurance. This form of cover gives you up to 12 additional months on the manufacturer's expressed Australian warranty.
- Price guarantee cover. If you find an item available at a lower price within 21 days of purchase, this cover gives you a chance to claim back the difference.
Features of the Bank of Melbourne Vertigo Platinum
- Interest rates. The card features a standard variable purchase rate of 12.74% p.a. and a 19.49% p.a. cash advance interest rate.
- Annual fee. This card attracts an annual fee of $99.
- 24/7 Visa Platinum Concierge. Cardholders can take advantage of their own personal assistant, offering travel, entertainment and dining services all around the world.
- Up to 55 days interest-free. If you pay your balance in full by the due date on your statement, you can get up to 55 days interest-free on purchase from the start of the next statement cycle.
- Foreign transaction fee. Any transactions made in a foreign currency attract a fee of 3% of the Australian dollar value.
- Contactless technology. The Vertigo Platinum offers the convenience of fast "tap-and-go" transactions with Visa payWave on purchases of less than $100.
- Additional cardholders. You can add up to 3 additional cardholders to your Vertigo Platinum account at no extra cost. Note that you will still be responsible for managing the account.
- Minimum limit. The minimum credit limit on this card is $6,000.
How to apply for the Bank of Melbourne Vertigo Platinum Credit Card
If you’ve compared all your options and decided that this is the right card for you, complete the online application to apply for the Bank of Melbourne Vertigo Platinum Credit Card. This process takes around 10 minutes, and offers an "instant response" once you have submitted the secure online form. Before you apply, make sure you meet the eligibility requirements and have all your relevant details on hand.
- You must be at least 18 years of age.
- You must be a permanent Australian resident or citizen.
- You must have a good credit rating.
- Identification. Your driver’s licence, Medicare card, passport, Australian birth certificate or NSW Photo card.
- Personal information. This includes your full name, residential address, email address and phone number.
- Income and employment. This includes details of your work title, salary and employer, as well as recent payslips and details of any other forms of income (ie. from investments).
- Financial commitments. This includes details of any existing debts you have, as well as ongoing payments and bills you pay, such as mortgage repayments, rent and regular household costs.
Bank of Melbourne’s Vertigo Platinum combines premium features with a low standard variable purchase rate. However, make sure to compare a range of cards on the market before deciding on the right one for you.Back to top