Bank of Melbourne Vertigo Credit Card
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.
The Bank of Melbourne Vertigo Credit Card
Credit cards don’t have to be complicated. If you’re not that interested in flashy features or complex rewards programs, you can find cards out there that eschew these offerings.
Only providing access to credit – with a few essential extras thrown in to keep things interesting – these cards can be the ideal option for cardholders who are looking to keep things simple.
One such card is the Bank of Melbourne Vertigo Credit Card.
Providing a low purchase rate and low ongoing annual fee, this little beauty likes to keep it simple, while allowing cardholders to save some money.
And, if you apply today, you can save even more money, taking advantage of the card’s offer of 0% p.a. on balance transfers for 16 months. Pretty sweet deal, we say.
What we love...
One of the most obvious features attracting us to the Bank of Melbourne Vertigo Credit Card is that balance transfer offer. If you have existing credit card debt, a 0% balance transfer offer can provide a great way to pay it off faster, while saving you heaps in interest.
With its offer of 0% p.a. on balance transfers for 16 months on card application, the Bank of Melbourne Vertigo Credit Card could give you plenty of time to pay off that debt. Plus, you can enjoy the benefits of a simple, low cost card along the way.
What are some of those benefits exactly? First off, the card has a low ongoing purchase rate. While it’s always best to clear your balance month-to-month – especially when paying off a transferred balance – this card does keep ongoing interest on purchases on the lower end of the scale.
On top of that, the card also offers an affordable ongoing annual fee, which happens to be $55.
What’s not so great...
Now we’ve talked about the great bits, let’s go over some of the not-so-great bits. First up, if you want to take advantage of the balance transfer offer, you may not be able to transfer an existing balance from a St.George, BankSA or Westpac credit card.
In addition, any balances you do transfer may be capped at 80% of your approved credit limit,.
It’s also worth bearing in mind that any transferred balance left unpaid at the end of the 16-month introductory period will revert to the card’s higher cash advance rate – not the much lower purchase rate.
Why should you choose this card?
While many new cardholders apply for the Bank of Melbourne Vertigo Credit Card for its excellent balance transfer offer, it is of course a fantastic card to keep in your wallet day-to-day.
With a low minimum income requirement of $15,000 p.a., the card may be easier to get approved for than other credit cards. And while it’s not jam-packed full of fancy features, it does provide a few of the essentials that most credit cardholders now rely on.
These include the convenience of Visa PayWave, up to 55 days interest free on purchases, one free additional cardholder, Visa’s Zero Liability Policy, and 24/7 fraud monitoring.
A low rate card offering essential features and a superb 16-month 0% p.a. balance transfer offer, all in one simple package. Offer ends 2 October 2019. New cards only.