Bank of Melbourne Vertigo Platinum – Cashback Offer
Receive platinum benefits and enjoy $300 cashback 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.
As a new cardholder, you will also get $300 cashback when you apply by 30 June 2021 and spend $900 on eligible purchases in the first 90 days.
This card features complimentary insurance covers such as extended warranty for purchases and overseas travel insurance.
Balance transfer rate
for 12 months
Interest free period
|Product Name||Bank of Melbourne Vertigo Platinum - Cashback Offer|
|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||Up to 55 days on purchases|
|Cash advance rate||21.49% p.a.|
|Min credit limit||$6,000|
|Max credit limit||$80,000|
|Foreign currency conversion fee||3%|
- $300 cashback offer
- Low purchase rate of 12.99% p.a.
- Complimentary insurance covers including overseas travel and extended warranty for purchases
- Does not offer any rewards program for your spending
- Charges a 3% foreign currency conversion 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|
|Overseas 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.
The Bank of Melbourne Vertigo Platinum card features up to 55 days interest-free on purchases and a competitive $99 annual fee. This card also boasts complimentary travel and purchase insurance covers, including overseas medical, extended warranty and a price guarantee.
Its current introductory offer gives you a way to get more value from your spending, with $300 cashback added to your new credit card within 60 days of meeting the eligibility requirements.
If you’re after a lower interest rate without the extra card perks (and a lower annual fee), you may want to check out the Bank of Melbourne Vertigo Visa as well.
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.
- $300 cashback. You'll get $300 back to your new Bank of Melbourne Vertigo Platinum card when you apply by 30 June 2021, are approved and spend $900 on eligible purchases within the first 90 days from card approval. Eligible spending covers most everyday purchases. Transactions that won't count towards this spend requirement include BPAY payments, cash advance transactions, a purchase from or payment to a government or government related agency, balance transfers and account fees and charges. The $300 will be added to your account within 60 days of meeting the offer requirements.
- 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. The Bank of Melbourne Vertigo Platinum card charges a standard annual fee of $99 p.a.
- Purchase rate. 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.