Bank of Melbourne Vertigo Visa – Details and Application

Apply for a Bank of Melbourne Vertigo Visa Card and pay off existing credit card debt with a 0% p.a. for 18 months balance transfer offer.

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 Visa offers a competitive 13.74% p.a. purchase interest rate.

This credit card has a special balance transfer rate offer of 0% p.a. for 18 months (with a one-time 1% balance transfer fee).

Product NameBank of Melbourne Vertigo Visa Credit Card
Balance transfer rate (p.a.)0% p.a. for 18 months with 1% 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.)13.74% p.a.
Offer end date26 September 2018
Annual fee$55 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
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 on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$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
Cash Advance Fee2% of the value of the transaction or minimum charge of $2.50
Overseas Cash Advance Fee2%
Foreign Currency Conversion Fee
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
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 18 months.
  • This card offers a low ongoing purchase rate of 13.74% p.a., which is one of the lowest in the market.
  • 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.
  • There is a one-time 1% balance transfer fee.

Bank of Melbourne Vertigo Visa Credit Card review

The Bank of Melbourne Vertigo Visa credit card boasts a promotional balance transfer offer of 0% p.a. for 18 months, which could come in handy if you want to repay an existing debt without the burden of interest. Cardholders can also take advantage of competitive interest rates on purchases, up to 55 days interest-free on purchases and many more. Read on to compare the benefits, features and fees of this card.

Benefits of Bank of Melbourne Vertigo Visa Credit Card

  • Balance transfer offer. Apply by 26 September 2018 and get a balance transfer promotion of 0% p.a. for 18 months when you transfer your existing credit card balance to the BoM Vertigo Visa. This reverts to the standard cash advance rate of 19.49% p.a. after promotional period expires. A one-time 1% balance transfer fee applies.
  • 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.
  • Credit card security. This card comes with the latest security features for loss prevention.
  • SMS and email alerts. Customers also get the benefit of SMS and email alerts. They receive real time updates when the card reaches a particular limit. SMS alerts will cost money whereas email alerts are free of cost.
  • Widespread Visa access. Visa cards have near universal acceptance at all kinds of merchants stores. This makes purchases easier and also helps in keeping track of total expenses.

Features of the Bank of Melbourne Vertigo Visa Credit Card

  • Low purchase interest rate. The purchase interest rate is at 13.74% p.a. This means if you regularly take a while to repay what you've spent on your credit card, you could pay less in interest.
  • Low annual fee. Credit cards that have a competitive purchase rate could have a higher annual fee. However, the BoM Vertigo Visa has an affordable $55 annual fee.
  • Cash advance interest rate. If you decide to withdraw cash from your Bank of Melbourne Vertigo Visa, you will be charged a cash transaction interest rate of 19.49% p.a. This rate will be effective from the date the transaction occurs. If you aim to save money on credit card costs, then it may be wise to avoid withdrawing cash or making cash transactions with any credit card. Cash advances also attract a fee of 2% of the value of the transaction or minimum charge of $2.50.
  • 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 Visa Credit Card

If you feel that the BOM Vertigo Visa 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:

  • Be a permanent Australian resident
  • 18 years 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

        • Staff
          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

        • Staff
          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.

        • Staff
          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?

        • Staff
          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?

        • Staff
          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?

        • Staff
          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

        • Staff
          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??

        • Staff
          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?

        • Staff
          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??

        • Staff
          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

        • Staff
          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 May 28th, 2018
      Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
      Westpac Low Rate - Online Offer
      13.49% p.a.
      0% p.a. for 26 months with 2% balance transfer fee
      $0 p.a. annual fee for the first year ($59 p.a. thereafter)
      Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
      HSBC Platinum Credit Card
      19.99% p.a.
      0% p.a. for 22 months with 2% balance transfer fee
      $0 p.a. annual fee for the first year ($129 p.a. thereafter)
      Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
      NAB Low Fee Card
      19.74% p.a.
      0% p.a. for 18 months with 2% balance transfer fee
      $30 p.a.
      Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
      Citi Platinum Credit Card - 100k Bonus Points
      20.99% p.a.
      0% p.a. for 15 months with 1% balance transfer fee
      $49 p.a. annual fee for the first year ($149 p.a. thereafter)
      Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.

      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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