Bank of Melbourne Vertigo Platinum

Mozo snapshot:

If you’re after a card that provides the privileges associated with a top-level platinum credit card like purchase and price protection, that also delivers a low purchase rate, the Bank of Melbourne Vertigo Platinum Credit Card could be a neat fit for your wallet or purse. This piece of plastic also offers you a 0% purchase rate on your spending for the first 15 months, not to mention, it took out multiple 2019 Mozo Experts Choice Awards for best Low Rate Platinum Credit Card and best Balance Transfer Platinum Credit Card. 

Key features:

As we’ve mentioned, one of the major selling points surrounding the Vertigo Platinum Credit Card is its low 12.99% purchase rate, plus the fact that you'll get the first 15 months interest free. Plus, after that you’ll get 55 days interest free on purchases you make with this card so long as you pay your balance in full by the end of each billing period.

As far as fees go, you’ll be charged a $99 annual fee to get your hands on this card and if you’re tardy with your repayments you’ll also be subject to a $15 late payment fee. If you take out cash with this card, not only will you immediately start paying interest at the 21.49% cash advance rate but you’ll also incur a 2% or $2.50 cash advance fee. It is also worth mentioning that you’ll be charged a 3.00% foreign exchange margin when using this card overseas.

Bank of Melbourne delivers a range of neat complimentary features with this credit card. First up, you’ll get access to Visa’s 24/7 concierge service to organise your social calendar, book tickets for concerts and gigs and make restaurant reservations. You will also have the luxury of purchase protection insurance with this card, so the costs to replace your new toys will be covered for up to four months from the purchase date. Plus, if you find the product cheaper elsewhere within three weeks of the transaction, you’ll have the benefit of price protection meaning Bank of Melbourne will reimburse you the difference.

Who it's good for:

The Bank of Melbourne’s Vertigo Platinum Credit Card is a great option if your looking to make some big purchases upfront, thanksk to the 15 months interest free right off the bat.