Bank of Melbourne

Bank of Melbourne Vertigo Platinum

Purchase rate

12.74% p.a.

Balance transfer rate

0% p.a. for 26 months and then 19.49% p.a. (2.00% balance transfer fee)

Annual fee

$99 $0 in the first year

Rewards program

n/a

Bank of Melbourne Vertigo Platinum

Purchase rate

12.74% p.a.

Balance transfer rate

0% p.a. for 26 months and then 19.49% p.a. (2.00% balance transfer fee)

Annual fee

$99 $0 in the first year

Rewards program

n/a

Details

Details

Mozo Review Bank of Melbourne Vertigo Platinum Review

Last updated: 18 October 2018.

What's hot:

Low 12.74% purchase rate
0% balance transfer rate for 26 months (2% BT fee)
Purchase and price protection
2018 Mozo Experts Choice Award Winner

What's not:

$15 late payment fee

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% interest rate on balance transfers for a whopping 26 months (2% BT fee), which is ideal if you’ve accrued debt on another credit card. Not to mention, it took out a 2018 Mozo Experts Choice Best Low Rate Platinum Credit Card award.

Key features:

As we’ve mentioned, one of the major selling points surrounding the Vertigo Platinum Credit Card is its low 12.74% purchase rate. Plus, 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, there's no annual fee in the first year, but after that 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 19.49% 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.

And if you're keen to clear some lingering debt from an existing card, the Bank of Melbourne Vertigo Platinum Credit Card comes with a 0% balance transfer rate for 26 months (2% BT fee).

Who it's good for:

The Bank of Melbourne’s Vertigo Platinum Credit Card is a great option if you’ve accrued debt on other cards. The 26-month 0% balance transfer rate means you’ll have a couple of years to pay off your transferred debt without worrying about paying any interest on that balance, but keep in mind there is a 2% fee and be sure you pay off this debt in time otherwise you’ll pay the high cash advance rate.

Any catches?

Just be aware there is a $15 late payment fee so it might be worth automating your credit card repayments, which should be easy enough with online banking.

Details

Rates

Purchase rate

12.74% p.a.
Intro purchase rate

none
Balance transfer rate

0% p.a. for 26 months and then 19.49% p.a. (2.00% balance transfer fee)
Balance transfer revert to cash

yes
Cash advance rate

19.49% p.a.
Interest free days

55

Fees

Annual card fee

$99.00
Introductory annual fee

$0 in the first 1 year
Annual fee spend threshold

none
Reward program fee

none
Late payment fee

$15.00
Cash advance fee

2%, Min $2.50
Foreign exchange margin

3.00%
Duplicate statement fee

$2.00
Transaction verification fee

$10.50
Additional card fee

$0.00

Features

Minimum repayment amount

$10.00
Minimum repayment percent

2.0
Additional cardholders

3
Other restrictions

none

Payment options

Google Pay, Samsung Pay

Rewards privileges

Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing,
Rental Car Excess Cover

Customer Reviews

How are Bank of Melbourne credit cards rated by the Mozo community?

Overall customer rating

7.6/10

Based on 117 Bank of Melbourne credit card reviews

Price

6.8/10

Features

6.4/10

Customer service

7.6/10

Convenience

7.7/10

Trust

7.6/10

Latest reviews of Bank of Melbourne Vertigo Platinum

Overall

0/10

Hopeless. Everything is just a mess and hopeless

My review is that the online banking is far too hard for older people, we have no idea what to...

Read full review

My review is that the online banking is far too hard for older people, we have no idea what to do. Staff try to explain but it is far too complicated a system and is directed for the young ones.

Price

-1/10

Features

3/10

Customer service

0/10

Convenience

0/10

Trust

0/10

Less

Pauline | Victoria

reviewed 4 months ago
Overall

8/10

Great customer service

Credit card can be used anywhere.

Read full review

Credit card can be used anywhere.

Price

6/10

Features

7/10

Customer service

8/10

Convenience

9/10

Trust

7/10

Less

Yen | Victoria

reviewed over 2 years ago
Overall

10/10

Best credit card I've ever had

Very competitive rates, especially with balance transfers. Staff are friendly, polite and helpful...

Read full review

Very competitive rates, especially with balance transfers. Staff are friendly, polite and helpful with great product knowledge. It's the best credit card I've ever had.

Price

9/10

Features

9/10

Customer service

9/10

Convenience

9/10

Trust

10/10

Less

Samantha | Victoria

reviewed almost 3 years ago
Overall

6/10

Ease of application.

Ease of application.

Read full review

Ease of application.

Price

3/10

Features

4/10

Customer service

5/10

Convenience

8/10

Trust

5/10

Less

Lachlan | Victoria

reviewed almost 3 years ago
Overall

10/10

Best credit card

Awesome service.

Read full review

Awesome service.

Price

10/10

Features

10/10

Customer service

10/10

Convenience

10/10

Trust

10/10

Less

Manu | Victoria

reviewed over 3 years ago

Bank of Melbourne

About Bank of Melbourne

Formerly St.George in Victoria, The Bank of Melbourne provides a banking alternative to customers with its large range of products in home, personal and business banking. Based in Victoria the Bank of Melbourne offers its customers bank accounts, credit cards, term deposits, private banking services, home loans and personal loans.

See Bank of Melbourne credit cards

Promoted

American Express

Explorer Credit Card

balance transfer rate

0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

purchase rate

20.74% p.a.

annual fee

$395

Bank of Melbourne Vertigo Platinum

Mozo Review Bank of Melbourne Vertigo Platinum Review

What's hot:

What's not:

Mozo snapshot:

Key features:

Who it's good for:

Any catches?

Details

Rates

Fees

Features

Payment options

Rewards privileges

Customer Reviews

How are Bank of Melbourne credit cards rated by the Mozo community?

Overall customer rating

Latest reviews of Bank of Melbourne Vertigo Platinum

Hopeless. Everything is just a mess and hopeless

Great customer service

Best credit card I've ever had

Ease of application.

Best credit card

About Bank of Melbourne