Bank of Melbourne Vertigo Platinum
Receive platinum benefits and enjoy up to 55 interest-free days on purchases with the Bank of Melbourne Vertigo Platinum.
The Bank of Melbourne Vertigo Platinum credit card offers premium extra features, a low ongoing interest rate of 12.99% p.a. on purchases and up to 55 interest-free days.
Balance transfer rate
for 12 months
Interest free period
|Product Name||Bank of Melbourne Vertigo Platinum|
|Balance transfer rate||6.99% p.a. for 12 months|
|Balance transfer revert rate||Cash Advance Rate (21.49% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||12.99% p.a.|
|Interest-free period||55 days|
|Cash advance rate||21.49% p.a.|
|Min credit limit||$6,000|
|Max credit limit||$80,000|
|Foreign currency conversion fee||3%|
|Available to temporary residents||Yes - Conditions apply|
- Low interest rate of 12.99% p.a. for purchases
- Complimentary insurance covers including extended warranty for purchases and overseas travel insurance
- Does not offer a rewards program
- Charges a 3% foreign transaction fee
|Minimum monthly repayment||2% of the closing balance or $10, whichever is greater|
|Late payment fee||$15|
|Foreign currency conversion fee||3%|
|Cash advance fee||2% or $2.50, whichever is greater|
|Additional cardholder fee||$0|
|Number of additional cardholders||3|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
How to apply
You can apply for the Bank of Melbourne Vertigo Platinum credit card online in 10 minutes and receive a response instantly. Before you get started, check if you meet the eligibility criteria and have the necessary information to complete the application:
- Age. You must be at least 18 years of age.
- Residency. In order to apply online, you must be a permanent Australian resident or citizen.
- Credit history. Applicants must have a good credit score.
- Balance transfer. If there is a balance transfer rate available and you plan to transfer a debt, Bank of Melbourne allows you to transfer from $200 up to 80% of your available credit limit from up to three Australian-issued cards not from Bank of Melbourne, St.George or BankSA.
- Personal information. This includes your full name, residential address, email address and phone number.
- Identification. You can verify your identity with your Australian driver's licence, Medicare card, passport, Australian birth certificate or NSW Photo card.
- Income and employment. Such as your work title, salary and employer, as well as recent payslips and details of any other forms of income (such as investments).
- Financial commitments. Provide 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.
- Balance transfer details. If there is a balance transfer rate available and you plan to transfer a debt(s), you'll be asked to list how much debt you're transferring as well as details regarding the account(s) you're moving it from.
- 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 dependent children if you meet the eligibility criteria before you leave, including pre-paying travel costs using your credit card.
- 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.
- Balance transfer offer. Save on interest costs when paying off existing debt with 6.99% p.a. balance transfer offer for up to 12 months with no balance transfer fee. Any remaining balance after the promotional period ends is subject to the cash advance rate.
- Mobile payment technology. If you add this card to your Apple Pay, Samsung Pay or Google Pay wallet, you can enjoy the convenience of making tap and go payments using your compatible Android, Samsung, or other eligible device.
Rates & fees
- Annual fee. This card charges an annual fee of $99 p.a.
- Purchase rate. Outside of any introductory rates, this card charges a competitively low variable purchase rate of 12.99% p.a.
- Cash advances. If you use your card to make a cash advance, such as an ATM withdrawal, you'll be charged the 21.49% p.a. variable cash advance rate. You'll also be charged a fee of 2% or $2.50 (whichever is greater, capped at $150 per transaction).
- Interest-free period. You will receive up to 55 days interest-free on new purchases when you pay your monthly payment balance listed on your statement in full by the payment due date. Note that these interest-free days are separate from any longer-term interest rate promotions and the monthly payment balance excludes current balance transfers.
- Foreign transaction fee. Transactions made in a foreign currency attract a fee of 3% of the Australian dollar value.
- 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. You must be approved for a credit limit of at least $6,000 to receive this card.