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An introductory balance transfer offer of 0% p.a. for 14 months and an annual fee waiver in the first year make the BankSA Vertigo Platinum a credit card worth considering.
The Vertigo Platinum is BankSA’s high-end rewards credit card offering. It offers a range of attractive features to potential customers, but perhaps its most alluring feature is a competitive introductory balance transfer offer. Customers who apply for a BankSA Vertigo Platinum until 20 September 2017 can take advantage of $0 annual fee in the first year and 0% p.a. for 14 months on balance transfers. This allows customers to transfer over debt from another credit card and then pay it off before they accrue any extra interest charges.
For customers who like the sound of the balance transfer offer but would like a card with fewer rewards, the BankSA Vertigo Visa is also worth considering.
| Product Name | BankSA Vertigo Platinum |
|---|---|
| Balance transfer rate (p.a.) | 0% p.a. for 14 months |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Purchase Rate (12.74% p.a.) |
| Balance Transfer Limit | 95% of available credit limit |
| Purchase rate (p.a.) | 12.74% p.a. |
| Offer end date | 20 September 2017 |
| Annual fee | $0 p.a. annual fee for the first year ($99 p.a. thereafter) |
| 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. | $6,000 |
| 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 Repayment | 2% or $10, whichever is greater |
| Card Type | Visa |
| 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 Insurance | Yes |
| Available To Temporary Residents | No |
| Joint Application | Yes |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | No |
| 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. | $6,000 |
| 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 | $0 p.a. annual fee for the first year ($99 p.a. thereafter) |
|---|---|
| Minimum Repayment | 2% or $10, whichever is greater |
| Late Payment Fee | $15 |
| Over Limit Fee | $0 |
| Cash Advance Fee | 2% of each cash advance amount and all transfers |
| Overseas Cash Advance Fee | 2% of each cash advance amount and all transfers |
| 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 |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $0 p.a. |
| Number of Additional Cardholders | 3 |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| In Branch | Yes |
| Yes |
Pros
- This card comes with a low balance transfer of 0% p.a. for 14 months, requested at card application.
- Take advantage of a waived annual fee in the first year.
- Enjoy up to 55 interest-free days on purchases.
Cons
- A variable cash advance rate of 21.49% p.a. applies after the balance transfer period.
BankSA Vertigo Platinum Credit Card review
This rewards credit card offers a range of benefits to customers. These include a wide range of complimentary insurance policies (listed below), 24/7 Visa Platinum Concierge Service, and the ability to add an additional cardholder at no extra cost. Customers can enjoy 55 days interest-free if their balance is paid by the due date, while contactless technology means purchases of less than $100 can be completed quickly and easily.
With a minimum credit limit of $6,000, the card features an annual fee of $0 in the first year ($99 p.a. thereafter). The BankSA Vertigo Platinum also features a 12.74% p.a. variable purchase rate and a 21.49% p.a. variable cash advance rate.
Benefits of using a BankSA Vertigo Platinum
- 0% p.a. on balance transfers. New customers who apply by 20 September 2017 can get out of debt quicker with a 0% p.a. for 14 months balance transfer offer. Once the introductory period is over, the revert rate will be 12.74% p.a.
- No annual fee in the first year. Apply by 20 September 2017 and take advantage of a waived annual fee in the first year. This reverts to the standard annual fee of $99 thereafter.
- Purchase cover insurance. Purchase cover insurance is designed to provide 3 months’ protection against the theft, loss or damage of selected new purchases.
- Extended warranty insurance. Use this complimentary policy to extend the manufacturer’s expressed Australian warranty by 12 months.
- Price guarantee cover. If you buy an item but then find it being sold cheaper within 21 days of purchase, this cover will ensure that you are refunded the difference in price.
- Overseas travel insurance. This policy provides up to 6 months of cover for any overseas travel, providing essential protection against a range of common travel risks.
Features of the BankSA Vertigo Platinum
- Annual fee. The BankSA Vertigo Platinum credit card attracts an annual fee of $99.
- Interest rates. The Vertigo Platinum comes with a 12.74% p.a. variable purchase rate and a 21.49% p.a. variable cash advance rate.
- Up to 55 days interest-free. Cardholders receive 55 days interest-free on purchases from the start of their statement cycle.
- Minimum limit. The minimum credit limit on the Vertigo Platinum is $6,000.
- 24/7 Visa Platinum Concierge. The Concierge Service gives cardholders access to their own personal assistant, offering travel, entertainment and lifestyle services no matter where you are in the world.
- Contactless technology. If you’re making a purchase of less than $100, the BankSA Vertigo Platinum has Visa Paywave technology to help you get your shopping done fast.
- Additional cardholder. You can add an additional cardholder to your Vertigo Platinum account for free.
How to apply for the BankSA Vertigo Platinum
Once you’ve done your research and confirmed that the Vertigo Platinum is the right card for you, complete an online application to begin the application process. You’ll need to be an Australian resident, over the age of 18 and have a good credit rating in order for your application to be successful.
Eligibility criteria
You should meet the following to be able to apply for a BankSA Vertigo Platinum Credit Card:
- 18 years of age or older
- You should be an Australian permanent resident
Required documents
You’ll also need to supply some personal information and other documentation as part of your application. This includes:
- Your driver’s licence
- Your employer’s contact details
- Details of your income, assets and liabilities
BankSA’s Vertigo Platinum offers plenty of attractive features to entice customers. However, it’s important that you weigh up the pros and cons of a range of cards before making your final decision on which one is right for you.
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Hi, I just want to perform a balance transfer from commonwealth to bankSA (vertigo platinum). Just wondering, my credit balance from commonwealth is more then the vertigo platinum card limit which i have at BankSA. Can I still be able to do it?
Hi Shiba,
Thanks for your inquiry.
Transferring a balance from your Commonwealth bank credit card to a BankSA Vertigo Platinum card is eligible. However, please note that you can only transfer a minimum of $200 up to 95% of your approved available credit limit.
You may also check our comparison of balance transfer credit cards with high credit limits.
I hope this has helped.
Sharon
Can my wife apply Vertigo Platinum Credit Card card and perform a balance transfer of my (husband) credit card into her new Vertigo Platinum Credit Card ?
Hi Donzay,
Thank you for your inquiry.
Yes, balance transfer between any two people’s names is accepted as long as it is not from Westpac Group (BankSA, Bank of Melbourne, St.George). You may refer to this page for more information about transferring balances from your partner’s credit card.
Cheers,
Sharon
how is the complimentary travel insurance on this card activated? do you have to purchase travel on the card?
Hi Fran,
Thanks for your question.
The overseas travel insurance is activated when you, before leaving Australia, have purchased a minimum of $500 worth of prepaid travel costs (such as flights, accommodation, tickets, etc.) on your card and you have return airfare tickets to your destination. The $500 of travel costs applies to each person you want to be covered by the insurance, so if you want you and your partner covered you will need to purchase $1000 worth of prepaid travel expenses on your card.
Hope this has helped.
Thanks,
Elizabeth