The interest free period is the maximum number of days during which interest is not charged on new purchases. If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.
Visa Platinum opens up a whole new world of privilege when it’s attached to the already desirable BankSA Vertigo card. Add an even lower purchase interest rate and a suite of complimentary insurances to the mix, and the result is the entirely covetable BankSA Vertigo Platinum Credit Card.
Great combination of low interest rate and complimentary benefits
Who says you can’t have it all? With most cards you must choose between low rates and freebies, but this one is different. The ongoing purchase rate is a low 12.99% p.a. but you get to enjoy 0% p.a. for the first 15 months of your card – that’s going to make a big difference if you sometimes struggle to even out your expenditure during the year and need a little temporary financial wriggle room. And in spite of the bargain basement implication of the interest rate, you still get complimentary insurance cover and premium extras.
A range of insurance cover that won’t cost you a cent extra
Once you’ve paid the card’s annual fee, there is no further charge for a long list of insurance policies, activated by expenditure you would have been making in any case:
Visa Platinum premium extras
Visa Platinum (also known as Visa Premium) brings you more than just the Platinum Concierge Service mentioned on the card’s web page. It also gives you access to tickets for sought-after events before they go on general sale. Hotels will offer you discounts and upgrades. Holiday tour companies in Asis and upmarket fashion stores in Europe will apparently mark down their prices, just because you have a Visa Platinum card.
And if these benefits sound appealing, then so will the concierge service, which promises help with all your superior lifestyle expectations, from obtaining tickets to a Sydney show all the way to help with hiring a private yacht in Fiji.
Introductory offers not neglected
While the insurance and other extras are designed to appeal to customers who plan to use the card as a purchase card from the outset, the card offers 0% p.a. for 15 months on your purchases with the card. This is a good offer for those planning to do purchases with huge amount and pay it in a period of time without incurring interest.
Moderate annual fee for a platinum card
Useful complimentary benefits are rarely free, and you’ll pay $49 p.a. for the first year and $99 p.a. in every anniversary of your card. That’s not a bad price, especially when you consider the low interest rate waiting in the background in case you need it.
Even the most organised people sometimes forget to pay their credit card account on time, condemning themselves to two months without interest-free days. In this situation the annual fee would be quickly recouped by paying interest at a much lower rate than normal.
There is no annual fee applied to up to three supplementary cards.
Best of both worlds, but no rewards points
Most banks appear to assume that a desire for low interest rates and a preference for prestige benefits are mutually exclusive, putting their potential customers into one category (financial battlers who frequently need prolonged credit) or the other (well-heeled regular travellers). So the BankSA Vertigo Platinum Credit Card is unusual in offering a specialised combination of a low purchase interest rate and premium benefits. If the absence of a rewards program doesn’t bother you, and the low interest rate sounds like a good safety net, $99 per year is a bargain price for the extensive complimentary benefits.
|Interest rate||Period||Fee||Limit||Revert rate|
|Purchases||0% p.a.||15 months||N/A||N/A||12.99% p.a.|
|Cash advances||1.79%||21.49% p.a.|