In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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Bank of Melbourne Vertigo Card
Terms and conditions apply
Balance transfer rate for 28 months with 1% balance transfer fee
0% p.a.
Purchase rate
13.99% p.a.
Annual fee
$55 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

Offers 0% interest on balance transfers for 28 months, with a one-time 1% balance transfer fee and a $55 annual fee.

The Bank of Melbourne Vertigo credit card gives you a way to save, with the current introductory offer including a 0% balance transfer offer for 28 months. It also has a 13.99% p.a. interest rate for new purchases, which is much lower than the average standard credit card interest rate of 20.07% p.a.

Pros

  • 0% p.a. for 28 months on balance transfers
  • A low ongoing annual fee
  • Competitive purchase interest rate of 13.99% p.a.
  • Request an additional cardholder at no extra cost

Cons

  • Charges a one-time 1% balance transfer fee
  • Balance transfer rate reverts to 21.49% p.a. at the end of the promotional period
  • No rewards program, travel perks and insurance covers

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The Bank of Melbourne Vertigo is suited to people who want to keep their card costs down and don’t want a lot of fancy features. If you have a credit card you want to pay off, the long balance transfer offer gives you a way to save with 0% p.a. interest for 28 months (with a one-time 1% balance transfer fee) when you apply by 31 July 2024 and include your balance transfer request as part of the application. It also offers a low ongoing $55 annual fee.

Details

Product details

Product Name Bank of Melbourne Vertigo Card
Balance transfer rate p.a. 0% for 28 months with 1% balance transfer fee, then 21.49%
Balance transfer limit 80% of available limit
Purchase rate p.a. 13.99%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 21.49%
Min credit limit $500
Max credit limit $80,000
Card type Visa

Eligibility

Available to temporary residents Yes - Conditions apply
Joint application No

Rewards

Bonus points N/A

Fees

Annual fee $55
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 3%
Overseas cash advance fee 3% of each cash advance amount
Additional cardholder fee $0
Number of additional cardholders 1

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.

Eligibility criteria

  • 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 31 July 2024.
  • 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.

Card benefits

  • Balance transfer offer. Apply by 31 July 2024 and include your balance transfer request as part of the application to get a balance transfer rate of 0% p.a. for 28 months (with a one-time 1% balance transfer fee). This reverts to the variable cash advance rate of 21.49% p.a. at the end of the introductory period.
  • Competitive purchase rate. The variable interest rate on purchases is 13.99% p.a.

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 3% of each cash advance amount.

Your reviews

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Amy Finder

Editor

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Avatar

Brian

December 05, 2023

I currently have c/bank gold m/card. D oes this card have similar things?


Avatar

Amy Bradney-George Finder

December 06, 2023

Hi Brian,

The Bank of Melbourne Vertigo is a Visa credit card, so it would offer a similar level of global acceptance to a Mastercard. It has a relatively low interest rate compared to the average credit card rate in Australia, and a competitive annual fee. If you want to compare it specifically to your existing card, a simple way would be to review the details on your account or most recent statement and compare them to the details on our review. If there is a specific feature you want, you can check for it here or contact Bank of Melbourne directly. I hope this helps.


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Belinda Petrovski

March 23, 2023

Is this a business credit card


Avatar

Amy Bradney-George Finder

March 24, 2023

Hi Belinda,

This is not a business credit card and is designed for personal use. Finder’s guide to Bank of Melbourne credit cards includes its business and corporate options. Alternatively, you can compare a wider range of business credit cards in Finder’s guide. I hope that helps.


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Dina

March 01, 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


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May Finder

March 03, 2017

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.


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


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Ty

January 30, 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


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Avatar

Anndy Lou Finder

January 30, 2017

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


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Barbara

October 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.


Avatar

Anndy Lou Finder

October 31, 2016

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


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