Bank of Melbourne Vertigo
Get an introductory 0% interest rate on balance transfers for 28 months, with no balance transfer fee.
The Bank of Melbourne Vertigo is designed to help keep your credit card costs down, with a competitive 13.99% p.a. interest rate on purchases. It also has a 0% p.a. balance transfer offer for 28 months (with no balance transfer fee) when you apply and get approved by 28 September 2021.
Balance transfer rate
for 28 months
Interest free period
|Product Name||Bank of Melbourne Vertigo Classic|
|Balance transfer rate||0% p.a. for 28 months|
|Balance transfer revert rate||Cash Advance Rate (21.49% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||13.99% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||21.49% p.a.|
|Min credit limit||$500|
|Max credit limit||$80,000|
|Foreign currency conversion fee||3%|
- 0% p.a. for 28 months on balance transfers with no BT fee
- Competitive purchase interest rate of 13.99% p.a.
- Request an additional cardholder at no extra cost
- Balance transfer rate reverts to 21.49% p.a. at the end of the promotional period
- No rewards program
- No additional perks like insurance covers or travel benefits
|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||1|
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.
If you want to take advantage of the 0% p.a. introductory offer on this card, you’ll need to apply by 28 September 2021. But keep in mind that any balance transfer debt needs to be from a card (or cards) that are not issued by Bank of Melbourne, BankSA or St.George. You also have to request the balance transfer during your application for the Bank of Melbourne Vertigo.
How to apply
You can apply for the Bank of Melbourne Vertigo credit card online in around 10 minutes. Get started by checking that you meet the eligibility criteria and have all the documents and details you need to complete the application.
- Eligible balance transfer. If you're planning to take advantage of the balance transfer offer, note that you can transfer debt from Australian credit cards not issued by Bank of Melbourne, St.George or BankSA. You can transfer from $200 up to 80% of your credit limit.
- Residency. To apply online, you must be an Australian citizen or permanent resident.
- Age. You must be at least 18 years old to apply.
- New cardholder. The balance transfer offer is only available when you apply for the Bank of Melbourne Vertigo credit card as a new cardholder before 28 September 2021.
- Personal details. This includes your full name, date of birth, email address, phone number, residential address and details of your living arrangements. You will also need to provide valid ID details, such as your driver's licence, passport or Medicare card.
- Employment details. The application requires details such as your current job title, salary, length of employment and your employer's contact details. You may also need to provide recent payslips, bank statements or other documents that confirm your income and employment.
- Financial details. This covers any other income – such as government payments or pensions – along with your savings and assets. You also need to share details of existing debts, loans, credit cards and other liabilities, as well as an estimate of your regular household expenses.
- Balance transfer details. To take advantage of the introductory balance transfer offer on this card, you will need to include your balance transfer request when you apply. This includes the amount of debt you want to transfer and the details for your existing account, including the account name, number and the provider's BSB.
- Balance transfer offer. Apply by 28 September 2021 and get a balance transfer rate of 0% p.a. for 28 months (with no balance transfer fee). This reverts to the variable cash advance rate of 21.49% p.a. at the end of the introductory period. Interest-free days do not apply while you carry a balance transfer debt.
- Interest-free days. When you pay your monthly payment balance in full, which excludes current balance transfers, listed on your statement by the payment due date, you will receive up to 55 days interest-free on new purchases. Note that interest-free days are separate from any longer-term interest rate promotions.
- Visa benefits. Take advantage of exclusive offers for travel and hotel bookings, shopping, dining and experiences – with seasonal deals listed on the Visa Australia website. You can also enjoy exclusive event and ticket offers by signing up to the Visa Offers + Perks website.
- Mobile payment technology. You can make tap and go payments using your eligible phone or device by adding this card to your Apple Pay, Google Pay or Samsung Pay wallet.
Rates & fees
- Annual fee. This card charges a $55 annual fee.
- Cash advance costs. If you make a cash advance transaction on the Bank of Melbourne Vertigo credit card, you will be charged the variable cash interest rate of 21.49% p.a. This rate will be effective from the date the transaction occurs. Cash advances also attract a fee of 2% or $2.50 (whichever is greater, capped at $150 per transaction).
- International transaction fee. The fee for converting currency and making purchases with merchants overseas or online in a foreign currency is 3% of the transaction value.