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Bank of Melbourne Vertigo Platinum

Purchase rate
12.99% p.a.
Balance transfer rate
6.99% p.a. for 12 months and then 21.49% p.a.
Annual fees
$99
Interest free days on purchases
55

Mozo editorial review Bank of Melbourne Vertigo Platinum

Last updated: 13 August 2020.

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What's hot
  • Multiple 2019 Mozo Experts Choice Awards
  • 0% on new purchases for 15 months
  • Low 12.99% purchase rate
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% 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. 

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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 (offer ends 30 September 2020). 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.

And if you've got some lingering debt you'd rather seen gone, the Vertigo Platinum Credit Card also features a 6.99% balance transfer offer for 12 months. 

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Who is it good for

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

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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 and fees information correct as at 29 September 2020 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 12.99% p.a.

  • none

  • 6.99% p.a. for 12 months and then 21.49% p.a.

  • yes

  • 21.49% p.a.

  • 55

Fees
  • $99.00

  • none

  • none

  • none

  • $15.00

  • 2%, Min $2.50

  • 3.00%

  • $2.00

  • $10.50

  • $0.00

Features
  • $10.00

  • 2.0

  • 3

  • none

Payment options

Apple Pay, Google Pay, PayID, Samsung Pay

Rewards privileges

Travel Insurance,
Extended Warranty,
Purchase Protection

Customer Reviews

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

Overall
7.4/10
Price
6.7/10
Features
6.2/10
Customer service
7.3/10
Convenience
7.4/10
Trust
7.5/10

Latest reviews of Bank of Melbourne Vertigo Platinum

  • Overall 0/10
    Worst bank ever.

    Worst bank ever. Horrible customer service and long hold times.

    Read full review

    Worst bank ever. Horrible customer service and long hold times.

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Mathew, Victoria reviewed 6 months ago
  • 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 do. Staff try to explain but it is far too complicated a system and is directed for the young ones.

    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 about 2 years 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 about 4 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 with great product knowledge. It's the best credit card I've ever had.

    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 over 4 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 5 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.

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