Bank of Melbourne Vertigo Classic – Details and Application

The Bank of Melbourne Vertigo Classic card allows you to pay off existing credit card debt with 0% p.a. for 16 months balance transfers.

This is a card designed for those in Victoria and Melbourne who want to enjoy a banking institution aligned to their home state. Suited for people who are seeking to keep costs low, the Vertigo Classic offers a competitive 13.74% p.a. purchase interest rate and low $55 annual fee.

When you apply and are approved by 23 January 2019, this credit card offers a special balance transfer rate of 0% p.a. for up to 16 months with no balance transfer fee.

Product NameBank of Melbourne Vertigo Classic
Balance transfer rate (p.a.)0% p.a. for 16 months
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.)13.74% p.a.
Offer end date23 January 2019
Annual fee$55 p.a.
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.
$500
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 InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationYes
Annual fee$55 p.a.
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 the value of the transaction or minimum charge of $2.50
Overseas Cash Advance Fee2%
Gambling Transactions AllowedYes
Additional Cardholder Fee$0
Number of Additional Cardholders1

Pros

  • This card comes with a balance transfer offer of 0% p.a. for 16 months, with no balance transfer fee.
  • Offers a low variable purchase rate of 13.74% p.a.
  • You can request for an additional cardholder at no extra cost.

Cons

  • This card has no rewards program and no additional perks like insurance and travel benefits.

Benefits of Bank of Melbourne Vertigo Classic

  • Balance transfer offer. Apply by 23 January 2019 and get a balance transfer rate of 0% p.a. for up to 16 months with no balance transfer fee. This reverts to the variable cash advance rate of 19.49% p.a. after promotional period expires. You can transfer up to 80% of your approved credit limit and can transfer debt from up to 3 cards not issued by BankSA, Bank of Melbourne or St.George.
  • Low purchase interest rate. The variable purchase interest rate is at 13.74% p.a. This means if you regularly carry a balance on your credit card, you could pay less in interest.

Features of the Bank of Melbourne Vertigo Classic

  • Low annual fee. The BoM Vertigo Classic card charges a $55 p.a. annual fee.
  • Cash advance interest rate. If you make a cash advance transaction on the Bank of Melbourne Vertigo Classic, you will be charged the variable cash interest rate of 19.49% p.a. This rate will be effective from the date the transaction occurs. Cash advances also attract a fee of 2% of the value of the transaction or minimum charge of $2.50.
  • Interest-free days. This card provides up to 55 interest-free days on purchases. Customers can use this benefit to keep their interest cost to a bare minimum. For this, cardholders would need to pay the closing balance regularly, including any balance transfer debt.
  • Minimum repayment. Each statement month you will be required to repay 2% of the total outstanding balance at minimum.
  • Currency conversion. The rate for converting foreign currency and making purchases in overseas currency is 3%.

How to apply for the Bank of Melbourne Vertigo Classic

If you feel that the BOM Vertigo Classic is the right card for you, you can apply by completing the online application form. Please allow up to 10 to 15 minutes for the application.

Eligibility criteria

You can find the application criteria in the table below. To apply for the credit card, you will need to be:

  • A permanent Australian resident
  • 18 years old and above

Required documents

  • Driver’s license number
  • Weekly income details
  • Details regarding your assets
  • Details regarding any debts you still have

After the application has been completed, you can receive an immediate response from Bank of Melbourne telling you if your application was successful.

Frequently asked questions

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233 Responses

  1. Default Gravatar
    DinaMarch 1, 2017

    Hi
    I’m looking to see if you still have this offer, as I want to do a balance transfer?

    The Bank of Melbourne Vertigo Visa does offer 0% p.a. for 18 months on balance transfers and 0% p.a. for 6 months (reverts to 13.24% p.a.) on purchases. You can enjoy these benefits at the same time or is there a better offer?

    Many Thanks

    Dina

    • finder Customer Care
      MayMarch 3, 2017Staff

      Hi Dina,

      Thanks for your question.

      I’m afraid that the current and available offer for the Bank of Melbourne Vertigo Visa Credit Card is only 0% p.a. interest on BT for 12 months and 0% p.a. interest on purchases for 6 months. Other cards that also offer 0% interest on BT and purchases at the same time are listed here.

      Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      Cheers,
      May

  2. Default Gravatar
    TyJanuary 31, 2017

    Hi There,

    Does this card allow promotional rates on both balance transfers AND purchases at the same time?

    Ie – I apply for this card, am accepted, but then also want to transfer a balance from another card to this one, will I still receive the promotional rates for both purchases and transfers?

    Or is it only one at a time?

    Many thanks

    • finder Customer Care
      LouJanuary 31, 2017Staff

      Hi Ty,

      Thanks for your question.

      The Bank of Melbourne Vertigo Visa does offer 0% p.a. for 18 months on balance transfers and 0% p.a. for 6 months (reverts to 13.24% p.a.) on purchases. You can enjoy these benefits at the same time.

      To receive the balance transfer offer, you must request for it during the application process. Even with outstanding balance transfer, you can still enjoy the purchase rate offer.

      Cheers,
      Anndy

  3. Default Gravatar
    BarbaraOctober 31, 2016

    I’m trying to apply for a balance transfer cc on line but it keeps saying my amount to transfer ($4500) is greater than 95% of my credit limit ($30000). My maths seems to give a different answer!
    Please help.

    • finder Customer Care
      LouOctober 31, 2016Staff

      Hi Barbara,

      Thanks for your question.

      Please note that the amount that you can transfer to your Bank of Melbourne Vertigo Visa is up to 95% of your approved and available credit limit. If you have further questions about your balance transfer request, you may have to directly get in touch with Bank of Melbourne on 13 22 66.

      Cheers,
      Anndy

  4. Default Gravatar
    PamelaOctober 17, 2016

    What would my interest rate be on remaining transferred balance at the end of the interest free period?

    • finder Customer Care
      YsaOctober 22, 2016Staff

      Hi Pamela,

      Thanks for your question.

      A standard purchase rate of 13.24% p.a. will apply after the promotional period ends.

      Cheers,
      Ysa

  5. Default Gravatar
    PCJune 13, 2016

    Hi! Can you balance transfer personal loan balances on to the credit card?

    • finder Customer Care
      LouJune 13, 2016Staff

      Hi PC,

      Thanks for your question.

      Unfortunately, you can’t transfer your personal loan to a Bank of Melbourne Vertigo Visa, but Citi and Virgin credit cards allow this.

      I hope this helps.

      Cheers,
      Anndy

  6. Default Gravatar
    RicJune 10, 2016

    Can the balance transfer be applicable for Westpac customers?

    • finder Customer Care
      MayJune 10, 2016Staff

      Hi Ric,

      Thanks for your question.

      The Bank of Melbourne Vertigo Visa card is underwritten by Westpac, so you won’t be able to conduct a balance transfer between these cards. For further information, you may like to read our article on which banks you’re able to transfer a balance to and from.

      Hope this helps.

      Cheers,
      May

  7. Default Gravatar
    LizApril 28, 2016

    Hi,
    Is the transfer offer not applicable to existing St George customers?
    Thanks

    • finder Customer Care
      SharonApril 28, 2016Staff

      Hi Liz,

      Thanks for your inquiry.

      Unfortunately, transferring a balance from a St.George account to a BOM credit card is not allowed. As per their terms and conditions, you can only transfer balances from up to 4 non-St.George, BankSA and Bank of Melbourne, Australian issued credit, charge or store cards.

      You may check the following page to compare other balance transfer credit cards.

      I hope this helps.

      Sharon

  8. Default Gravatar
    PaulMarch 17, 2016

    Can I balance transfer Citibank??

    • finder Customer Care
      DebbieMarch 17, 2016Staff

      Hi Paul,

      Thanks for your inquiry.

      Yes, you can balance transfer of up to 4 non Bank of Melbourne, St.George and BankSA, Australian issued credit, charge or store cards.

      For other options, you can start comparing on our list of balance transfer credit cards.

      I hope this helps.

      Cheers,
      Debbie

  9. Default Gravatar
    JinoMarch 14, 2016

    Hi
    I have an ANZ overdraft account with a balance of $20000 and a westpac credit card with $6000 and can I get both balances transferred to this vertigo credit card under 20mts interest free condition?

    • finder Customer Care
      SharonMarch 15, 2016Staff

      Hi Jino, thanks for your inquiry.

      Yes, you can transfer your balances from those credit cards. Please note that you can transfer from up to 4 non Bank of Melbourne, St.George and BankSA, Australian issued credit, charge or store cards. You can transfer a min of $200 up to 95% of your approved available credit limit.

      I hope this helps,

      Sharon

  10. Default Gravatar
    SanFebruary 3, 2016

    Can i transfer my credit without having permanent residency??

    • finder Customer Care
      JonathanFebruary 4, 2016Staff

      Hi San, thanks for your inquiry!

      Bank of Melbourne credit cards require Australian permanent residency. You can compare credit cards for temporary residents here.

      Cheers,

      Jonathan

    • finder Customer Care
      DebbieFebruary 4, 2016Staff

      Hi San,

      Thanks for your inquiry.

      To apply for Bank of Melbourne Vertigo Visa, you should be 18 years old above and an Australian permanent resident.

      You may wish to refer to our guide here for credit cards for temporary residents.

      I hope this helps.

      Cheers,
      Debbie

Credit Cards Comparison

Rates last updated December 17th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) 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 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
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.
ANZ Low Rate
12.49% p.a.
0% p.a. for 15 months
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
NAB Low Fee Platinum Card
19.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.

Compare up to 4 providers

* 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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