St.George Vertigo MasterCard

• Low rate of interest on balance transfers for 6 months
• No annual fee for the 1st year.
• Cheap ongoing purchase interest rate of 13.24% p.a.
• High cash advance rate of 21.49% p.a. compared to the much lower rate on purchases could catch some people out.

How does the St.George Vertigo MasterCard compare against a credit card of the national average?

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	St.George Vertigo MasterCard	13.24%	21.49%	$0	2.99%	6 months
	The Average Credit Card	16.84%	21.27%	$89	2.04%	7 months

Methodology: The Scorecard is based on the interest rates and fees from 307 credit cards from 52 banks and credit unions to give a national average on an ongoing basis. Introductory promotional rates are not included in the calculation.

Disclaimer: The data presented in the Scorecard is intended to be a guide. Some factors may affect data accuracy. We try to present accurate and fresh data, but it is possible that our database may not include every credit card on the entire market and that products may change without us being notified.

The St.George Vertigo MasterCard is a credit card that offers customers the best of both worlds when it comes to day-to-day purchases and balance transfers. With this card, there is no need to choose between reducing and consolidating debt and making cheap credit card purchases. As well as this, it comes with a host of other benefits that many customers will find very attractive such as extended interest free days on purchases and a low annual fee.

Pros

The St.George Vertigo MasterCard comes with a low 2.99% p.a. rate on balance transfers for 6 months that many customers will find extremely attractive because of the potential money saved. For those who have existing debts where the fixed interest rate has reverted to the higher standard purchase rate, or for those who have a few debts they would like to consolidate in order to simplify their finances and pay everything at one rate, the St.George Vertigo MasterCard can be very useful. With such low interest rates, it’s not surprising to learn that this 5 star Cannex card has been nominated as the cheapest balance transfer card in Australia.

With many Australian credit cards, the advantage is either a low balance transfer rate, or a low interest rate on purchases, which is why many customers have two cards for these two purposes. That is not the case with the St.George Vertigo, a card that comes with a low 13.24% p.a. interest rate on purchases as well as a cheap balance transfer deal. This means the card can be used for daily expenditure as well as reducing debt payments, making it a very flexible product.

There is also a 55 day interest free period on purchases, helping to give cardholders plenty of leeway to pay for their purchases cheaply before payday. The $0 p.a. annual fee is reasonably low as well, and adding an additional cardholder to the account is free. So all round, it is a cheap and effective card for single people and for couples or families. The Vertigo MasterCard also comes with access to the St.George Instant Benefits program, offering instant discounts with some retailers, which always helps to stretch budgets even further.

Besides the low interest charged for balance transfers and purchases, St.George have a relatively low minimum income requirement of $15,000, which is about as low as it gets.

Cons

Although it has excellent interest rates, this is not the perfect card for everyone out there. Credit limits are not as high as some of the other cards currently available.

Those with smaller debts who are simply looking to consolidate and save money on interest for a short period until the debt is paid off will find the card very useful. However, if you have a large amount of debt and don’t want the hassle of having to apply for a new card every 6 months or so in order to keep your interest rate down, then it may be better to look for a credit card with a longer balance transfer deal (although you should be aware that the interest charged on a long term balance transfer offer may be slightly higher than that of the St.George Vertigo). The 21.49% p.a. interest rate on cash advances is also quite high, but that’s the case for practically every credit card offered by a major bank or credit union. They view it as a riskier transaction therefore the rates are higher. Its best practice is to avoid cash advances unless in emergency – they’re just too expensive to use regularly.

The addition of St.George Benefits is welcomed, but there is no rewards program whereby purchases are rewarded with points per dollar spent. If this is a feature that matters to you, then check out the many rewards program credit cards available on our site.

Conclusion

This is a great card with a competitive combination of both a low rate balance transfer offer and cheap interest rates on day-to-day purchases. With the right strategy the St.George Vertigo credit card can be a real asset that saves you money, but it is best suited for those with lesser debts who are not looking for cash advantages. The St.George Instant Benefits will help to add a few treats to your life, and the 55 day interest free period is very useful for those trying to manage payments when budgets may be a bit of a squeeze.

All in all the card is well worth looking into; customers who are interested can fill in a short application online and find out if they are eligible today with a 60 second decision.