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Balance transfer rate for 36 months with no balance transfer fee: 6.99% p.a.
Purchase rate: 13.99% p.a.
Annual fee: $55 p.a.
Interest-free on purchases: Up to 55 days

Our verdict

Offers 6.99% interest on balance transfers for 36 months, with a $55 annual fee.

Finder Awards 2025 winner

The Bank of Melbourne Vertigo credit card gives you a way to save, with the current introductory offer including a 6.99% balance transfer offer for 36 months with no balance transfer fee. 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 20.99% p.a.

The $55 annual fee is also on par with other low rate cards. Just keep in mind that if you don’t pay off your balance transfer during the first 36 months, a high interest rate of 21.49% p.a. will apply to the remaining balance. To get the most value out of the balance transfer offer, you should focus on paying off your balances during the introductory period and avoid making new purchases during that time.

Pros

6.99% p.a. for 36 months on balance transfers
A low $55 annual fee and 13.99% p.a. purchase rate
Shopping cashbacks through ShopBack

Cons

Balance transfer rate reverts to 21.99% p.a. after the introductory period
No rewards program, travel perks and insurance covers

Details

Product details

Product Name	Bank of Melbourne Vertigo Card
Balance transfer rate p.a.	6.99% for 36 months, then 21.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	Purchase rate p.a.13.99%
Interest-free days	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
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

Congratulations, Bank of Melbourne!

The Bank of Melbourne Vertigo Card won Best Balance Transfer Credit Card in the 2025 Finder Awards.

Full list of 2025 winners

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.
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 for this card you must be an Australian or New Zealand citizen, Australian permanent resident or hold a valid temporary residence visa with at least 1 year before expiry.
Age. You must be at least 18 years old to apply.
Existing customers. You must be an existing Bank of Melbourne customer to be eligible for the $0 first-year annual fee offer.

Required documents

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.

Card benefits

Balance transfer offer. Apply as a new cardholder and include your balance transfer request as part of the application to get a balance transfer rate of 6.99% p.a. for 36 months (with no balance transfer fee). This reverts to the variable cash advance rate of 21.99% p.a. at the end of the introductory period.
Competitive purchase rate. The variable interest rate on purchases is 13.99% p.a.

Waived first-year annual fee for existing customers. Existing Bank of Melbourne customers will receive a $0 annual fee in the first year, which reverts to $55 p.a. thereafter.
Interest-free days. When you pay your monthly payment balance in full by the due date listed on each statement, you will get up to 55 days interest-free on purchases. Note that your monthly payment balance excludes current balance transfers. Interest-free days are also separate from any longer-term interest rate promotions.
Shopping cashbacks. Eligible Bank of Melbourne credit card holders can get cashbacks when they shop with their card on the online rewards platform ShopBack.
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 21.99% 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.

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.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Bank of Melbourne Vertigo Card information PDF
2. Bank of Melbourne Vertigo Card TMD

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Amy Finder

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Skye

June 25, 2025

Is it possible to transfer the balance of a personal loan into one of these interest-free credit cards? The current interest rates on my loan is making it very challenging to pay off.

Sarah Megginson Finder

June 27, 2025

Hi Skye, Yes this may be possible, this guide shows you how. Best of luck!

Luci

March 10, 2025

Hello,

I’m looking to transfer a balance from a card managed by Credit Corp Financial Services. Also, I wish to consolidate the above-mentioned balance with a balance from a Latitude Card? Is this possible? Many thanks!

Richard Whitten Finder

March 11, 2025

Hello Luci,

I can’t answer this for you directly as I don’t know which card provider you’re referring to with Credit Corp.

If you’re trying to transfer multiple balances onto a new card, then it will need to be one that isn’t a Latitude card or one related to Credit Corp. I can’t see which credit cards belong to Credit Corp.

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Ollie

October 26, 2024

Hi Amy, just wanted to clarify one detail.

The 0.99% interest is p.a., does this mean that 0.99% is charged per month on the balance of the card or is calculated at the end of each year you hold the card?

Eg – $5000 balance, let’s say that the balance remains the same after 12 months, then you will be charged $50? Or you will be charged the 0.99% on the remaining balance per month? I know it states p.a. but just wanted clarification. Cheers, Ollie

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Angus Kidman Finder

October 27, 2024

Hi Ollie, The 0.99% is specified as an annual figure but calculated daily on the transferred balance and applied at the end of each monthly statement – so yes, additional interest is added each month based on what’s remaining of the transfer. Hope that helps.

Brian

December 05, 2023

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

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

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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Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full profile

Bank of Melbourne Vertigo

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Congratulations, Bank of Melbourne!

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

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