Assumptions that this calculator makes:

  • You don’t make any purchases on your card until the promotional period ends or the balance transfer is paid in full.
  • You only make minimum repayments on your card during the promotional term.
  • The interest rate applying to your non-Bank of Melbourne credit card will not change.
  • You don’t pay your card off in full each month.
  • The minimum monthly repayment will be paid by the statement due date each month. The minimum repayment on your credit card is whichever is greater of: 2% of your total balance, or $10, or the amount of outstanding government and interest charges.
  • No cash advance transactions are made.
  • Excludes any fees that may apply to either card, including annual fees and when they are charged.

Interested in finding out more about how balance transfers work?

The Detail

Conditions and fees apply. Credit criteria apply to all credit products

Before making a decision, it's best to read the terms and conditions.

Please read these documents and keep a copy. You can request a paper copy at a branch.

1. The promotional balance transfer rates are available when you apply for a new Bank of Melbourne credit card between 3rd May 2017 and 20th September 2017 and request at application to transfer balance(s) from non-St.George, Bank of Melbourne and BankSA Australian issued credit, charge or store cards. The variable purchase interest rate applies to balance transfers requested at any other time. Promotional rate will apply to any balance(s) transferred (min $200 up to 95% of your approved available credit limit) for the promotional period, unless the amount is paid off earlier. The variable purchase rate will apply to balance(s) transferred but left unpaid after the end of the promotional period. Card activation will trigger the processing of the balance transfer. Bank of Melbourne will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). Interest free days don’t apply to balance transfers.

3. Depending on your choice of rewards program, you can earn Amplify Points or Qantas Points on your eligible purchases.

4. QBE Insurance (Australia) Limited ABN 78 003 191 035 AFSL 239545 has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 which allows eligible Bank of Melbourne account holders and cardholders to claim under it as third party beneficiaries. The terms, conditions, limits and exclusions, of the group policy, are set out in the Credit Card Complimentary Insurance Terms and Conditions, which may be amended from time to time. Westpac does not guarantee the insurance. You can get a copy of the policy booklet by calling 13 22 66 or download the Credit Card Complimentary Insurance Terms and Conditions.

$0 first year annual card fee promotion: The first year annual card fee waiver is available when you apply for a new Vertigo, Vertigo Platinum or Amplify credit card via Bank of Melbourne between 3rd May 2017 and 20th September 2017 and make your first purchase within 12 months from card approval. The first annual card fee will be debited on the 12 month anniversary of the first transaction on your account and annually thereafter.