Bank of Melbourne Vertigo Visa – Details and Application

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Apply for a Bank of Melbourne Vertigo Visa Card and repay your 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.

This credit card has a special balance transfer rate offer of 0% p.a. for 18 months (with a one-time 2% balance transfer fee). There is also the flexibility of being able to use the card anywhere where the Visa symbol is displayed, at millions of locations around the world.

Product NameBank of Melbourne Vertigo Visa Credit Card
Balance transfer rate (p.a.)0% p.a. for 18 months with 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)13.24% p.a.
Offer end date22 November 2017
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.)21.49% 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
Minimum Monthly Repayment2% or $10, whichever is greater
Card TypeVisa
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
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationYes
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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
Annual Fee$55 p.a.
Minimum Repayment2% or $10, whichever is greater
Late Payment Fee$15
Over Limit Fee$0
Cash Advance Fee2% of each cash advance amount and all transfers
Overseas Cash Advance Fee2%
Overseas Emergency Replacement$52.50
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$5
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
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

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 13.24% 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 2% 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 22 November 2017 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 21.49% p.a. after promotional period expires. A one-time 2% 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 13.24% 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 21.49% 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 each cash advance amount and all transfers.
  • 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
          AnndyJanuary 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
          AnndyOctober 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
          AnndyJune 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 November 22nd, 2017
      Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
      St.George Vertigo Platinum - Online Offer
      12.74% p.a.
      0% p.a. for 24 months
      $0 p.a. annual fee for the first year ($99 p.a. thereafter)
      Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
      Qantas Premier Platinum
      19.99% p.a.
      0% p.a. for 15 months
      $149 p.a. annual fee for the first year ($299 p.a. thereafter)
      Fly faster with up to 2 Qantas Points per $1 spent, receive 2 yearly complimentary Qantas Club lounge invitations, plus, included travel insurance.
      Woolworths Everyday Platinum Credit Card
      19.99% p.a.
      0% p.a. for 14 months
      $0 p.a. annual fee for the first year ($49 p.a. thereafter)
      Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
      Virgin Australia Velocity Flyer Card - Bonus Points Offer
      20.74% p.a.
      0% p.a. for 18 months
      $64 p.a. annual fee for the first year ($129 p.a. thereafter)
      Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

      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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