Bank of Melbourne Vertigo Visa | Compare, Review & Apply

Bank of Melbourne Vertigo Visa

Card features
balance transfer
purchase rate
annual fee
Bank of Melbourne Vertigo Visa
Apply by 22 may 19
11 reviews
Bank of Melbourne Vertigo Visa
0% p.a. for 16 months on balance transfers with no balance transfer fee. Reverts to cash advance rate.
$55 p.a. annual fee.
Low ongoing variable purchase interest rate of 13.99% p.a.
Add to comparison
16 months
0% p.a.
then 21.49%
with a 0% fee
13.99% p.a.

Pros & cons

What's good?

What's not so good?

0% p.a. for 16 months on balance transfers with no balance transfer fee. Reverts to cash advance rate.
$55 p.a. annual fee.
Low ongoing variable purchase interest rate of 13.99% p.a.
Up to 55 days on purchases.
Checkout faster using Visa payWave for purchases of $100 or less.
The cash advance rate of 21.49% p.a. is much higher than the low rate on purchases which could hurt if you used the card for cash advances.
Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Bank of Melbourne Vertigo VisaReviewed by Yvonne Taylor

The Bank of Melbourne Vertigo Visa is an excellent package for anyone looking for an ideal first credit card, or wanting to switch to a fuss-free, money-saving option. You don’t need to be a customer of the bank or a Victorian to apply, as long as you are a resident of Australia.

Low interest rate

The card’s most outstanding feature is 13.99 percent p.a. charged on purchase balances not paid by the due date. For a credit card this is a low rate, so if you have run out of other options and need to use a credit card as a temporary source of finance, this card should be at or near the top of your list.

Generous 16 months interest-free balance transfer

If you already have some debt on up to three other cards (outside the Bank of Melbourne, BankSA, St. George stable) you can consolidate your debt (up to 80 percent of your approved credit limit) into this one card and enjoy an interest holiday on the combined balance for 16 months – plenty of time to get your finances sorted out.

You could save a net $1,297 on a $5,000 balance during a 16-month period if you are currently paying 20 percent p.a. elsewhere, because, unlike many other cards, there’s no balance transfer fee to pay upfront.

Do be aware, though, that if you are unable to repay the balance at the end of 16 months, the high revert interest rate of 21.49% p.a. (the cash advance rate) will then be applied to any remaining debt.

Competitive annual fee

With no rewards program or ‘free’ insurance policies to pay for, the annual fee for this card is a very manageable $55. You can also have a fee-free supplementary card for your partner or another family member.

55 interest-free days each month

You may start to think 55 is your lucky number because that’s also how many interest-free days on purchases you’ll get each month, not the more restrictive 44 days associated with many low-rate, low-fee cards. This means that you won’t need to pay for your purchases until 24 or 25 days after your monthly statement cut off date. If you made a purchase right at the beginning of the statement cycle, you won’t need to come up with the cash until 55 days later.

Now that extra 11 days credit (when compared with 44 days) may not sound like much, but if you multiply it by 12 months it means that you can delay your monthly payments by an extra 132 days each year. If, like a quarter of Australian credit card users, you are putting $2,000 or more on your card each month, leaving that $2,000 in your 4 percent mortgage offset account for an extra 132 days will reduce your mortgage interest by about $29 per year.

You will only receive this benefit if you have paid off your balance transfer and continue to pay off your monthly purchases balance in full on the due date. Failing to pay just once, or being late with one payment, will see you paying 13.99% p.a. on every purchase for the next two months, calculated from the purchase date until the date you clear it from your account. This interest policy is standard practice for most credit cards.

If you do take up the balance transfer offer, you’d be well advised to come up with another way of paying for your purchases – cash, or another credit card – for the first 16 months.

Emergency card replacement fee

Here’s a surprising cost with this card. While some card issuers will replace your card free of charge in an emergency (as a result of theft while travelling, for example), the Bank of Melbourne will hit you with a $45 fee ($52.50 if you’re overseas). So make sure you hang on to that card.

Useful extra features

The Bank of Melbourne has come up with some constructive ideas for helping you to manage your credit card account. In addition to the usual internet banking and phone apps, you can set up email alerts to tell you when you have reached your credit limit. No more red faces at the checkout.

You can also set up an automated repayment plan so that you don’t have to remember payment due dates. This will help you avoid unnecessary interest charges if you forget to pay.

The bank’s mobile banking app lets you put a block on your card for up to 15 days (if you’ve misplaced it, for example, but don’t want to cancel it outright in case it turns up).

Falcon Fraud Monitoring keeps an eye on your account for suspicious purchases, and you can access an extra level of security when shopping online by signing up for ‘Verified by Visa’ one-time password authentication via your mobile phone. The bank would also like you to advise them if you plan to travel overseas so that the unexpected appearance of purchases made in a foreign country doesn’t trigger an alert suggesting that your card details have been stolen.

You’ll also get the convenience of Visa PayWave for purchases under $100, saving you time because you don’t need to insert or swipe your card or enter a PIN.

Competing low-rate, low-fee cards

If a low purchase interest rate coupled with a moderate card fee is important to you, take a look at other cards with similar features before you take the plunge.

The NAB Low Rate Card, Westpac Low Rate Credit Card and ANZ Low Rate Mastercard are also very similar, so it’s worth checking their features on our ‘Low interest’ page before you make your final decision.

Will this card be a good fit for you?

So, what type of card user should give serious consideration to the Bank of Melbourne Vertigo Visa?

Anyone looking for their first credit card should be opting for a moderate annual fee and a low purchase interest rate in case they accidentally overlook the monthly repayment, and this card certainly fits the bill. It is not cluttered with a rewards points program or complimentary insurance policies, both of which inevitably lead to a higher annual fee. These are extras which only benefit big spenders, and they can wait until you have found your feet in the credit card world. And you might just decide that this fuss-free card will suit you for many years to come.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

User reviews

3.9 out of 5.0 based on 11 reviews100% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Low annual fee card

Reviewed and recommended by Sarah on 20 Sep 2016

This is a low annual fee credit card — $55. It is very easy to manage. I can use this for my day-to-day expenses.

I think it would be better if they lowered their purchase interest rate, just in case there was a delay in making the payment for any reason at all. However, I am happy with the card.

This card had a great 0% balance transfer deal

Reviewed and recommended by Vicki on 17 Sep 2016

I took advantage of the Vertigo 0% balance transfer deal earlier this year. So far I haven’t had any dramas and no fuss. The payment reminders are great and Internet banking is easy to use. It has a competitive interest rate and is a great value no frills credit card.

Easy to use with banking app, but no rewards

Reviewed and recommended by Laurinda on 24 Aug 2016

It’s very simple to use, and connects to your everyday account with the Bank of Melbourne internet banking app. I chose this card so I don’t have to log in to another bank to check my statement.

It’s a very good card for the modern user — standard rates, no yearly fee. However, there are no types of rewards or points. I recommend it for younger generations due to its simplicity.

Easy to manage low rate card

Reviewed and recommended by Quenfin on 10 Aug 2016

The Bank of Melbourne Vertigo Card is great for those who are looking to consolidate credit cards and have one simple every day low rate card to manage. The sign-up process was very easy and streamlined. I would have no hesitation in recommending this credit card to others who are in a similar situation.

Run of the mill, nothing special

Reviewed and recommended by Jacki on 26 Jun 2016

This card is your standard credit card. I don’t find any real benefits from having it. I use it out of ease because it is easy to use. The charges are easy to understand, but I think they need to communicate any benefits that accompany it a lot better. The annual charges are not too bad and access to additional funds are fairly easy to acquire.

So far I'm very happy with this product

Reviewed and recommended by David Foon on 17 Jun 2015

Changed to this product because previous card had no interest free period and had a higher interest charge. Still early days, but hopefully this should suit what my requirements are.

I am a little bit annoyed with Bank Of Melbourne because as a long term customer they never advised me that the old card had very little to offer me plus cost me more!

Very pleased with this card

Reviewed and recommended by Samantha on 19 Oct 2014

I needed a card for emergency, for when we were travelling. It is perfect for families – easy to pay and easy to use. Customer service seeems great so far. Even though the online application was thorough, it was easy to navigate. They called the next day to see if we had any questions or problems.

Second to none service

Reviewed and recommended by Steve on 28 Oct 2013

Amazing customer service, understanding personal requirements. If every bank was this understanding we as consumers would be much happier. It feels like this bank is bringing back the old service that we as consumers deserve and crave. I couldn’t recommend Bank Of Melbourne highly enough. Try for yourself and you will see the difference.

Much better than any other bank

Reviewed and recommended by Deenadeena on 07 Sep 2013

The customer service is excellent, they are very helpful when i need it. The card is amazing, I use it every now and then when needed, and the rates are fantastic. It took me a long time to find the right bank and I have finally found it. I will never change banks again.

Very good card

Reviewed and recommended by Anon on 05 Sep 2013

It is a good looking card and very convenient and has affordable and competitive rates and can also be used at a lot of places. With the security of specialised PIN that can only be used once and due to this security it makes life so risk free and recommend.

Show 1 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
whichever is greater, $10 or 2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.16 months0%80% of credit limit21.49% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the Bank of Melbourne Vertigo Visa at the promotional balance transfer rate from:

  • Bank of Melbourne
  • Bank SA
  • St.George

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.16 months0%80% of credit limit 21.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.79% 21.49% p.a.
Purchases 1.17% 13.99% p.a.


Annual fee
$55 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are allowed
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Family Tax Benefits and Parenting Payments is acceptable.
Austudy, Carer's Allowance, Child Support Payments and Foster Care Allowance are not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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