The important numbers
|Ongoing annual card fee||$55|
|Variable purchase rate||13.99% p.a.|
|Variable cash advance rate||21.49% p.a.|
|Minimum credit limit||$500|
0% p.a. interest on balance transfers for 32 months##
No balance transfer fee.
The variable cash advance rate will apply after the promotional period. This 0% p.a. offer relates to balance transfers requested at card application. New cards only.
No card fee for the first year (saving $55)^^.
What you'll get
A lower interest rate on purchases than our Rewards cards
A lower annual card fee than our Rewards cards
Up to 55 days interest-free on purchases¹
A higher annual card fee than our No Annual Fee card
No rewards points or complimentary insurances
A final check that this is the right credit option for you. Credit cards are a secure payment method for short-term borrowing needs such as everyday purchases or unplanned expenses, with some cards offering additional features like rewards. However, there are instances where it might be worth considering another form of credit:
- You have a longer-term or specific borrowing need, like a car or home renovations. In this case, view our Personal loans
- You want a repayment schedule with fixed repayments and a defined loan end-date. In this case, view our Personal loans
- You need ongoing access to credit to help with short-term cashflow, but don’t want a credit card. In this case, look at our Overdraft
##Vertigo Balance Transfer Promotion: The promotional balance transfer rate is available when you apply and are approved for a new Vertigo credit card between 20th October 2021 and 31st August 2022, and request at card application to transfer balance(s) from up to 3 non-Bank of Melbourne, St.George and BankSA Australian issued credit, charge or store cards. The promotional rate will apply to balance(s) transferred (min $200 up to 80% of your approved available credit limit) for the promotional period, unless the amount is paid off earlier. Activating your card triggers the processing of the balance transfer. No balance transfer fees apply to a Vertigo credit card. The applicable variable cash advance rate will apply to any unpaid balance transfer amount remaining at the end of the promotional period. 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). 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.
^^Vertigo First Year Card Fee Waiver: The first-year card fee waiver is available when you apply and are approved for a new Vertigo credit card between 20th October 2021 and 31st August 2022. After the first year, the card fee will be debited to your account on the 12-month anniversary of the Card Fee date and annually thereafter.
1 55 Days Interest Free: Receive up to 55 days interest free on your purchases if your Monthly Payment Balance is paid in full by the due date shown each month. This amount is calculated as the main account balance minus the balance transfer amount plus any Plan&Pay instalments for this month. If you do not have any Plan&Pay instalments or a balance transfer, the Monthly Payment Balance will be the same as the Closing Balance.