Bank of Melbourne Vertigo Platinum

Save on credit card costs with 0% p.a. on balance transfers for up to 26 months and a $0 first year annual fee when you apply for the Bank of Melbourne Vertigo Platinum.

The Bank of Melbourne’s Vertigo Platinum 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 the first 26 months, with a one-time 2% balance transfer fee. Plus, a $0 annual fee for the first year. These offers are valid for new applicants who sign up for a card before 23 January 2019.

Other features of the Bank of Melbourne Vertigo Platinum include complimentary insurance covers and access to a 24/7 Visa Platinum Concierge. 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 NameBank of Melbourne Vertigo Platinum
Balance transfer rate (p.a.)0% p.a. for 26 months with 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (19.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)12.74% p.a.
Offer end date23 January 2019
Annual fee$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
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.
$6,000
Max credit limit
This credit limit may not be issued to you immediately upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened.
$80,000
Card TypeVisa
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 InsuranceYes
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationYes
Annual fee$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Minimum Monthly Repayment2% or $10, whichever is greater
Late Payment Fee$15
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
Cash Advance Fee2% of each cash advance amount (minimum of $2.50 capped at $150 per transaction)
Overseas Cash Advance Fee2% of each cash advance amount (minimum of $2.50 capped at $150 per transaction)
Gambling Transactions AllowedYes
Additional Cardholder Fee$0
Number of Additional Cardholders3

Pros

  • Enjoy a balance transfer offer of 0% p.a. for the first 26 months when you apply by 23 January 2019.
  • Save with a $0 annual fee for the first year.
  • This card features a range of complimentary insurance including extended warranty for purchases and overseas travel insurance.

Cons

  • This card does not offer any rewards program for your spending.
  • A one-time 2% balance transfer fee applies.

Benefits of the Bank of Melbourne Vertigo Platinum

  • $0 first year annual fee. Take advantage of a waived annual fee for the first year when you apply and get approved by 23 January 2019. The standard annual fee of $99 p.a. will apply thereafter.
  • Long-term balance transfer offer. This card offers a long-term balance transfer offer of 0% p.a. interest for the first 26 months with a 2% balance transfer fee when you apply by 23 January 2019. The 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.
  • 24/7 Visa Platinum Concierge. Cardholders can take advantage of their own personal assistant, offering travel, entertainment and dining services all around the world.
  • 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.

Features of the Bank of Melbourne Vertigo Platinum

  • Annual fee. Outside of any promotions, this card charges an annual fee of $99 p.a.
  • Interest rates. The card features a variable purchase rate of 12.74% p.a. and a 19.49% p.a. variable cash advance rate.
  • 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 purchases from the start of the next statement cycle. Note that interest-free days do not apply while you carry a balance transfer debt.
  • Foreign transaction fee. Any transactions made in a foreign currency attract a fee of 3% of the Australian dollar value.
  • Minimum limit. You must be approved for a credit limit of at least $6,000 to receive this card.

How to apply for the Bank of Melbourne Vertigo Platinum

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. 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.

Eligibility criteria

  • 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.

Required documents

  • 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 variable purchase rate. However, make sure to compare a range of cards on the market before deciding on the right one for you.

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87 Responses

  1. Default Gravatar
    JamesMarch 5, 2018

    I had cancer was made permanently disabled. Was paid out a lump sum through insurance and also had income protection till 65. My question is when it comes to employment I do get an income but I am not working, when applying for a credit card or a loan I am asked if I am employed and I cannot answer it or the person behind the counter decides that I am unemployed so I usually get knocked back? This does not seem right? I was working until cancer and I do get an income??

    • finder Customer Care
      MayMarch 6, 2018Staff

      Hi James,

      Thanks for your inquiry.

      When it comes to credit card applications, it is imperative to check whether your source of income will be considered by the bank or not. Usually, income from an insurance claim is not considered as your “income” or “salary”. So when you’re only receiving an income protection, I’m afraid that may not qualify as a source of income. For banks, a source income would basically coming from your stable (active) job/employment.

      In this article, you can find some good tips on how credit card issuers review your application and what makes your application go through. Hope this can help.

      Cheers,
      May

  2. Default Gravatar
    LeonieSeptember 10, 2017

    We are just about to travel to New Zealand in November/December 2017 and we are looking to hire a car while we are there. If I pay for the hire of the car with my bank of melbourne vertigo visa does that cover for the car insurance and give me a nil excess

    • finder Customer Care
      HaroldSeptember 11, 2017Staff

      Hi Leonie,

      Thank you for your inquiry.

      Regarding insurance cover you may need to check further information here.

      I hope this information has helped.

      Cheers,
      Harold

  3. Default Gravatar
    LisaAugust 7, 2017

    I know you can’t do balance transfer between the same banks (or If they fall under the same card issuer). I want to transfer my credit card debt from Westpac to this credit card, would that be accepted?

    • finder Customer Care
      JasonAugust 7, 2017Staff

      Hi Lisa,

      Thank you for your enquiry,

      Balance transfer requests to Bank of Melbourne Vertigo Platinum will not be accepted from another Bank of Melbourne, St.George, BankSA or Westpac credit card, or if the transfer amount is from a credit card not issued in Australia.

      Please check out this page for a guide on the banks or card issuers that you can balance transfer to.

      You may also check out this page for a comparison of balance transfer credit cards for your balance transfer options.

      I hope this helps.

      Kind regards,
      Jason

  4. Default Gravatar
    samSeptember 3, 2016

    hello,
    i am currently working as a casual for 3 months, but i was redundant from my full-time job last oct after working 7and half years. I am been working as casual from that time couple of jobs. whether i can get this card or i have to wait till i become full-time.

    • finder Customer Care
      JonathanSeptember 19, 2016Staff

      Hi Sam, thanks for your inquiry!

      If you meet the minimum income requirement and the application criteria for this card then you will be eligible to apply.

      Cheers,

      Jonathan

  5. Default Gravatar
    RossAugust 25, 2016

    Hi,

    I an looking to get a new 0% Bank of Melbourne Vertigo Platinum Card for Balance Transfer to clear my Wife’s CBA credit card.

    Do we need to get a card in our joint names for balance transfer or can 1 take a new Bank of Melbourne Vertigo Platinum card in my name and balance transfer to my wife’s CBA credit card

    Thanks

    • finder Customer Care
      MayAugust 28, 2016Staff

      Hi Ross,

      Thank you for your question.

      Getting a new balance transfer credit card under a joint or an individual account actually, depends on who should be responsible for paying the balance of your credit card. When you get the card jointly, you both agree that you and your partner would share the legal responsibility for the account and any balance that you transfer onto it. If you will apply for the credit card alone, that means you will all take the responsibility of paying off the balance.

      Fortunately, there are credit cards in the market that accept a joint application, which you can find them on this page. Aside from that, other institutions also accept balance transfer for a partner’s debt. These cards are listed on this page.

      Though please keep in mind, whatever your decision, make sure that you read the criteria and requirements before you apply for the credit card.

      I hope this has helped.

      Cheers,
      May

    • Default Gravatar
      RossAugust 29, 2016

      Hi May,

      Thank you for your reply.

      So as I understand from the link you sent that Bank of Melbourne allows balance transfer between two peoples name.

      So I could effectively take a 0% Bank of Melbourne Card and Balance transfer to my wife’s CBA card.

      Is this correct??

    • finder Customer Care
      MayAugust 29, 2016Staff

      Hi Ross,

      Thank you for your inquiry.

      Yes, you can apply for the Bank of Melbourne Vertigo Platinum and request for a BT from your wife’s CBA card, so long that you meet the requirements/criteria of the card. With this card, you’re allowed to transfer an amount that does not exceed 95% of your approved credit limit.

      Cheers,
      May

  6. Default Gravatar
    PenJuly 30, 2016

    I notice that this requires proof of employment. If I have a good credit rating would I still be eligible to apply while on a Centrelink payment?

    • finder Customer Care
      MayAugust 1, 2016Staff

      Hi Pen,

      Thanks for your question.

      Bank of Melbourne actually accepts applications from pensioners who receive Centrelink payments. Just provide the bank with your Centrelink statements as proof of income when you apply.

      Cheers,
      May

  7. Default Gravatar
    MarieJuly 7, 2016

    Hi, I am a little confused. The card says that at the end of the 20 month balance transfer period, the card will revert to the 12.74% purchase rate; however, I also read that at the end of the balance transfer period, the interest charged on any remaining unpaid balance will revert to the cash advance rate of 21.49% p.a. Shouldn’t it just revert to the 12.74%?

    So which is it? Seems a little contradictory.

    Thanks,
    Marie.

    • finder Customer Care
      LouJuly 7, 2016Staff

      Hi Marie,

      Thanks for your question.

      The balance transfer revert rate for the Bank of Melbourne Vertigo Platinum credit card is 12.74% p.a. which is equivalent to the current variable purchase rate. This rate will apply to balances transferred but left unpaid at the end of the 20-month promotional period.

      Cheers,
      Anndy

  8. Default Gravatar
    BenMay 23, 2016

    Hi,

    How do I go about signing up for a credit card for my wife and myself? We want to join our 2 credit cards into one joint credit card. On the application, it only allows you list one person’s name, employment, salary, etc?

    • finder Customer Care
      MayMay 24, 2016Staff

      Hi Ben,

      Thanks for your inquiry.

      Are your trying to apply for this Bank of Melbourne Vertigo Platinum card? If so, once you clicked on the green ‘Go to site’ button above, you’ll be redirected to BoM’s website. At the bottom of their page, there’s a small box that says “Get started” – click on that box. After clicking the box, you’ll get into the credit card application page/form. On the application page, you will have a choice to select either “Single account” or “Joint account.”

      When you click on the “Joint account,” you and your wife will be able to fill out the application form and you can both supply the needed information.

      In the meantime, if you want to find out which other credit card companies that would allow a joint application, you can find them here.

      I hope this is helpful.

      Cheers,
      May

  9. Default Gravatar
    ChinthakaMay 12, 2016

    Hi,

    I applied for Bank of Melbourne Vertigo Platinum card with 14000 balance transfer. But my application is unsuccessful. I called the bank and asked a reason for that and I did the mistake when I applying I forgot to add my expenses as sharing with my wife.
    They said there is no issue with expenses but I don’t have a relationship with the Bank Melbourne then the lending department refused my credit card. If I need to get this card, I need to wait for another 6 moths and open bank account on Bank Melbourne and apply for a card.

    My question is why don’t you say from the beginning I must have a bank account on Bank Melbourne?

    Thank you.

    • finder Customer Care
      MayMay 18, 2016Staff

      Hi Chinthaka,

      Thanks for your question and we’re sorry to hear about your rejected application.

      The exact requirements you’ll need to meet can vary from bank to bank. What we have posted on our review pages are usually the minimum/general requirements only and the complete details of these requirements should come from the bank itself. As you apply through the website of the card company, there should be a page that shows the eligibility criteria that the applicant must meet.

      As for the Bank of Melbourne, for credit card application, they would require financial commitments, income and employment information. The financial information could include, but not limited to account details for savings and transactions along with the current balances, assets, monthly expenses, credit etc.

      Whilst, you may not be able to apply for another credit card straight away after your application from BOM (to keep your credit file healthy), you may like to read our article on what you need to apply for a credit card on this page. You can find what are the eligibility requirements and documentation that you need to satisfy for future your application to be successful.

      I hope this helps.

      Cheers,
      May

  10. Default Gravatar
    DavidMay 6, 2016

    Hi,

    I am about to apply for the Melbourne Vertigo Platinum Credit Card. To be eligible for the overseas travel insurance what are the conditions e.g. spend a set amount on the card before you leave, etc.

    Regards.

    • finder Customer Care
      MayMay 6, 2016Staff

      Hi David,

      Thanks for your inquiry.

      Eligibility for the Bank of Melbourne Gold and Platinum Credit Card Insurances requires you to having a return overseas travel ticket before you leave Australia and by charging a minimum of $500 of your prepaid travel costs to your credit card. The same amount is also required to be spent on your card for your spouse and dependent children so they will also be eligible for the insurance. These conditions apply to each individual. You can find more details about BOM complimentary travel insurance here.

      I hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated December 10th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee. Ends 16 December 2018
Suncorp Clear Options Platinum Credit Card - Online Offer
20.74% p.a.
0% p.a. for 18 months
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% balance transfer offer and earn up to 60,000 Bonus Rewards Points. Plus, a discounted first year annual fee when you apply online.
American Express Westpac Altitude Platinum Bundle - Qantas - Exclusive Offer
20.24% p.a.
$50 p.a. annual fee for the first year ($249 p.a. thereafter)
finder Exclusive ends 12 December 2018:
Up to 90,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
Citi Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months (reverts to 20.99% p.a.)
0% p.a. for 13 months
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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