Bank of Melbourne Vertigo Platinum

Save on credit card costs with 0% p.a. on balance transfers for 18 months and a reduced 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 18 months, with no balance transfer fee. Plus, save $50 with a discounted $49 annual fee for the first year. These offers are valid for new applicants who sign up before 2 October 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 rate0% p.a. for 18 months
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.) 12.99% p.a.
Offer end date2 October 2019
Annual fee$49 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.)21.49% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
Max credit limit
This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application.
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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 ResidentsNo
Joint ApplicationYes
Annual fee$49 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)
Charged when you make a transaction that is converted by Visa 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% or $2.50 (whichever is greater)
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


  • Balance transfer offer of 0% p.a. for the first 18 months, with no balance transfer fee
  • Reduced $49 annual fee for the first year
  • Range of complimentary insurance including extended warranty for purchases and overseas travel insurance


  • This card does not offer any rewards program for your spending.

Benefits of the Bank of Melbourne Vertigo Platinum

  • Discounted first year annual fee. Take advantage of a $49 annual fee for the first year when you apply and get approved by 2 October 2019. The standard annual fee of $99 will apply thereafter.
  • Long-term balance transfer offer. This card offers 0% p.a. interest for the first 18 months on transferred balances when you apply by 2 October 2019. The variable cash advance rate of 21.49% p.a. applies to any remaining balance 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.
  • Interest rates. The card features a variable purchase rate of 12.99% p.a. and a 21.49% 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

You can apply for the Bank of Melbourne Vertigo Platinum online in around 10 minutes and receive a response instantly. Before you apply, make sure you meet the eligibility requirements and have all your relevant details on hand to complete the application.

Eligibility criteria

  • Age. You must be at least 18 years of age.
  • Residency. You must be a permanent Australian resident or citizen.
  • Good credit score. 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.

Back to top
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

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??

    • Avatarfinder 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.


  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

    • Avatarfinder 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.


  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?

    • Avatarfinder 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,

  4. Default Gravatar
    samSeptember 3, 2016

    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.

    • Avatarfinder 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.



  5. Default Gravatar
    RossAugust 25, 2016


    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


    • Avatarfinder 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.


    • 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??

    • Avatarfinder 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.


  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?

    • Avatarfinder 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.


  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.


    • Avatarfinder 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.


  8. Default Gravatar
    BenMay 23, 2016


    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?

    • Avatarfinder 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.


  9. Default Gravatar
    ChinthakaMay 12, 2016


    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.

    • Avatarfinder 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.


  10. Default Gravatar
    DavidMay 6, 2016


    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.


    • Avatarfinder 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.


Credit Cards Comparison

Rates last updated May 24th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards 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.

Ask a question
Go to site