- 0% p.a. on balance transfers for 18 months with no balance transfer fee
- Purchase rate of 13.99% p.a.
- Low annual credit card fee of $55
- Up to 55 days interest free on purchases
- Add up to 1 additional cardholder at no extra cost
- 24/7 fraud monitoring
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 18 months. Pretty sweet deal, we say.
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 18 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.
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 18-month introductory period will revert to the card’s higher cash advance rate – not the much lower purchase rate.
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 18-month 0% p.a. balance transfer offer, all in one simple package. Offer ends 12 February 2020. New cards only.
Purchase rate 13.99% p.a.
Cash advance rate 21.49% p.a.
Interest free period on purchases up to 55 days
Balance transfer rate 0% p.a. for 18 months
Balance transfer revert rate 21.49% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit 80% of approved credit limit
Banks you can't balance transfer from Bank of Melbourne, BankSA, St.George
Minimum credit limt $500
Maximum credit limit $40,000
Annual fee $55 p.a.
Additional card holder fee $0 p.a.
Foreign transaction fee 3%
Minimum repayment 2%
Cash advance fee 2%
Late payment fee $15
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Disclaimer: 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.
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Australian permanent resident. Temporary residents are eligible
Minimum income of $15,000 p.a.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
Something you need to know about this card? Ask a our credit card expert a question.Ask a question