Bank of Melbourne Vertigo Platinum Credit Card Online Exclusive Offer

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Card features
balance transfer
purchase rate
annual fee
Money saved
Bank of Melbourne Vertigo Platinum Credit Card Online Exclusive Offer
Apply by 30 jun 18
0% p.a. for 24 months on balance transfers. Reverts to cash advance rate. (1% balance transfer fee applies).
$0 p.a. annual fee for the first year.
Complimentary overseas travel insurance and extended warranty on purchases.
Add to comparison
24 months
0% p.a.
then 19.49%
with a 1% fee
12.74% p.a.
1st year
then $99

Pros & cons

What's good?

What's not so good?

0% p.a. for 24 months on balance transfers. (1% balance transfer fee applies). After that, any remaining amount will be subject to the 19.49% p.a. interest rate.
$0 p.a. annual fee for the first year.
Up to 55 days on purchases.
Complimentary overseas travel insurance for trips up to 6 months.
Purchase cover, extended warranty and price guarantee cover on eligible purchases.
Visa Platinum Concierge Service.
Take less time to checkout at the till using Visa payWave.
No rewards program.
Small balance transfer fee applies to amounts transferred.

Our review

Our review of the Bank of Melbourne Vertigo Platinum Credit Card Online Exclusive OfferReviewed by Yvonne Taylor

Want to go one better than the already attractive Bank of Melbourne Vertigo Platinum Credit Card? Well now you can, with this Bank of Melbourne Vertigo Platinum Credit Card Exclusive Offer. It has all the features of the standard Bank of Melbourne product – a low interest rate on purchases, a really long balance transfer offer and a suite of complimentary insurance policies – plus an annual fee waiver in the first year so that you can try out all these great features without paying a cent.

Ongoing 12.74% p.a. purchase interest rate

While it’s not the lowest purchase interest rate available in Australia, 12.74% p.a. is right down at the lower end of the scale.

You probably won’t want to use the card for purchases while you have an unpaid balance transfer. This is because the unpaid debt means you won’t qualify for the usual interest-free period of Up to 55 days on purchases. But if you do need to use it, it’s a whole lot better than paying 20% p.a. or more. And once your balance transfer is repaid, the 12.74% p.a. plus the interest-free days add up to a useful fallback position for anyone whose income and expenses are unpredictable.

24 months at 0% p.a. on balance transfers

This is a great money-saving offer. Here’s why.

Let’s say you transferred a balance of $5,000, from a card where you were paying interest of 20% p.a., to your new Bank of Melbourne card. After paying the 1% balance transfer fee you’d save a net $1,867 after 24 months ($1,917 in interest, less the 1% transfer fee of $50).

Those two long years should give you plenty of time to reorganise your finances before the revert interest rate of 19.49% p.a. kicks in.

Even if you are in a position to repay the $5,000 in full right now, you could leave the cash in a 4% p.a. mortgage offset account for two years, reducing your mortgage interest by a handy $416. Every small reduction in your mortgage makes a big difference over the long term.

Extensive complimentary insurance

Low rate credit cards don’t often come packaged with this much free insurance. You’ll get the following seven policies:

  • Overseas travel insurance: annual multi-trip policy for trips up to six months long
  • Interstate flight inconvenience insurance: effectively a domestic air travel insurance policy, but without the emergency medical expenses covered by the overseas travel policy, for trips of up to 14 days
  • Transit accident insurance: compensation for serious injuries sustained while travelling on public transport or a commercial airline
  • Rental vehicle excess in Australia: local car hire insurance excess waiver (overseas waiver is covered by the overseas travel policy)
  • Purchase security: four months’ cover against loss, theft or accidental damage for goods purchased with the card
  • Extended warranty: for goods purchased with the card, doubles the manufacturer’s Australian warranty, up to a maximum of 12 extra months
  • Price guarantee cover: refunds the price difference (minimum difference $75, maximum payout $300) if your recently-purchased item is subsequently advertised at a significantly lower price

The cover provided exceeds most credit card offerings in three ways: the length of overseas trips permitted (up to six months), the purchase security cover (four months rather than the usual three) and the domestic rental vehicle excess waiver (most cards only have an overseas car hire excess waiver).

Visa Platinum concierge and Visa Premium

By now the significance of the word ‘platinum’ in the card’s name is becoming evident. The extra-generous insurance cover is accompanied by Visa’s premium concierge service and also Visa FrontLine Access, letting you effectively jump the queue for tickets to in-demand events. As a Visa Premium member, you’ll also get access to other special offers and privileges.

No rewards points, but low fee

The good new has to stop somewhere. Many platinum cards also offer rewards points, but this isn’t one of them. Fortunately, the absence of points keeps the annual fee at a reasonably low $99 p.a., including up to three supplementary cards at no extra charge.

Online exclusive – no annual fee at all in the first year

This is the icing on the cake for anyone taking up this online exclusive offer. You’ll pay no annual fee in the first 12 months. It makes it even easier to try out the card to see if it meets all of your needs.

Compare other low-rate platinum cards

There are other card choices for anyone interested in platinum benefits combined with a low purchase interest rate. They can be found on our ‘Low interest’ feature page, accessible by clicking the ‘Feature’ button at the top right of this page.

When comparing, don’t overlook this card’s extra-long balance transfer offer and the particularly robust insurance cover.

A card for when the 0% p.a. balance transfer and annual fee waiver are distant memories

Although you may find a couple of cards with a longer zero-interest balance transfer offer, it may not have an ongoing interest rate as low as this Bank of Melbourne card, or complimentary benefits this extensive (if, indeed, any at all).

The Bank of Melbourne Vertigo Platinum Credit Card Exclusive Offer has lasting features you’ll appreciate long after your balance transfer is repaid.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.24 months1%80% of credit limit19.49% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the Bank of Melbourne Vertigo Platinum Credit Card Online Exclusive Offer at the promotional balance transfer rate from:

  • Bank of Melbourne
  • Bank SA
  • St.George

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.24 months1%80% of credit limit 19.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.62% 19.49% p.a.
Purchases 1.06% 12.74% p.a.


Annual fee
$0 p.a.
Annual fee 2nd year
$99 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are allowed
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Family Tax Benefits and Parenting Payments is acceptable.
Austudy, Carer's Allowance, Child Support Payments and Foster Care Allowance are not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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