Bank of Melbourne Vertigo Visa
Apply by 31 July 2024

Bank of Melbourne Vertigo Visa


  • Enjoy 0% for 28 months on Balance Transfers with a 1% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Pros and cons


  • 0% p.a. for 28 months on balance transfers with 1% balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.


  • Balance transfer rate reverts to 21.49% p.a. after 28 months.
  • There is no rewards program for this card.

Our review


Customer service

Rates and fees



The Bank of Melbourne Vertigo Visa may be an ideal package for anyone looking for a first credit card, or wanting to switch to a fuss-free, money-saving option. You don’t need to be a customer of the bank or a Victorian to apply, as long as you are a resident of Australia.

Low interest rate

The card’s most outstanding feature is the 13.99% p.a. charged on purchase balances not repaid by the due date. For a credit card this is a low rate, so if you have run out of other options and need to use a credit card as a temporary source of finance, this card should be at or near the top of your list.

The low rate does not extend to cash advances, however. You’ll pay 21.49% p.a. on cash advances, charged from the day you take the advance until the day you repay it.

Generous 28 months interest-free balance transfer

If you already have some debt on up to three other cards (outside the Bank of Melbourne, BankSA, St. George stable) you can consolidate your debt (up to 80% of your approved credit limit) via a balance transfer onto this one card and enjoy an interest holiday on the combined balance for 28 months – plenty of time to get your finances sorted out.

You could save around $2,370 on a $5,000 balance during a 28-month period if you are paying 20% p.a. and only making minimum repayments on your current card. Unlike many other cards, there’s no balance transfer fee to pay upfront.

Do be aware, though, that if you are unable to repay the balance at the end of 28 months, the high revert interest rate of 21.49% p.a. (the cash advance rate) will then be applied to any remaining debt.

Competitive annual fee

With no rewards program or ‘free’ insurance policies to pay for, the annual fee for this card is a very manageable $55. You can also have a fee-free supplementary card for your partner or another family member.

55 interest-free days each month

You may start to think 55 is your lucky number because that’s also how many interest-free days on purchases you’ll get each month, not the more restrictive 44 days associated with many low-rate, low-fee cards. This means that you won’t need to pay for your purchases until 24 or 25 days after your monthly statement cut-off date. If you made a purchase right at the beginning of the statement cycle, you won’t need to come up with the cash until 55 days later.

Now that extra 11 days credit (when compared with 44 days) may not sound like much, but if you multiply it by 12 months it means that you can delay your monthly payments by an extra 132 days each year. If, like a quarter of Australian credit card users, you are putting $2,000 or more on your card each month, leaving that $2,000 in your mortgage offset account for an extra 132 days will help to reduce your mortgage interest charges.

You will only continue to receive this benefit if you pay off your Monthly Payment Balance in full on the due date each month.


If you do get behind with your repayments, or make a large purchase (e.g. a new fridge or computer) that you can’t afford to pay for all at once, there is a way to repay by instalments without losing your interest-free days. Simply commit to a Plan&Pay instalment plan in either of two ways:

  • Pay off a new purchase over $200 in easy 3,6 or 12 monthly instalments, with 0% interest. Instead of paying interest, you’ll be charged a small upfront fee based on a percentage of the purchase price – 1% for 3 months, 2% for 6 months or 4% for 12 months.
  • Pay off an accumulated card balance in instalments, over a period of up to 36 months, with no upfront fee, and interest charged at a lower rate than the card’s standard interest rate.

Useful extra features

The Bank of Melbourne has come up with some constructive ideas for helping you to manage your credit card account. In addition to the usual internet banking and phone apps, you can set up email alerts to tell you when you have reached your credit limit. No more red faces at the checkout.

You can also set up an automated repayment plan so that you don’t have to remember payment due dates. This will help you avoid unnecessary interest charges if you forget to pay.

The bank’s mobile banking app lets you put a block on your card for up to 15 days (if you’ve misplaced it, for example, but don’t want to cancel it outright in case it turns up).

Falcon Fraud Monitoring keeps an eye on your account for suspicious purchases, and you can access an extra level of security when shopping online by signing up for ‘Verified by Visa’ one-time password authentication via your mobile phone. The bank would also like you to advise them if you plan to travel overseas so that the unexpected appearance of purchases made in a foreign country doesn’t trigger an alert suggesting that your card details have been stolen.

You’ll also get the convenience of Visa PayWave for purchases under $100, saving you time because you don’t need to insert or swipe your card or enter a PIN.

Will this card be a good fit for you?

So, what type of card user should give serious consideration to the Bank of Melbourne Vertigo Visa?

Anyone looking for their first credit card should opt for a moderate annual fee and a low purchase interest rate in case they accidentally overlook the monthly repayment, and this card certainly fits the bill. You can also request a credit limit as low as $500, to limit any temptations to overspend.

The card is not cluttered with a rewards points program or complimentary insurance policies, both of which inevitably lead to a higher annual fee. These are extras that only benefit big spenders, and they can wait until you have found your feet in the credit card world. And you might just decide that this fuss-free card will suit you for many years to come.

Competing low-rate, low-fee cards

If a low purchase interest rate coupled with a moderate card fee is important to you, take a look at other cards with similar features before you take the plunge.

The NAB Low Rate Card, Westpac Low Rate Credit Card, and Bankwest Breeze Mastercard are also very similar, so it’s worth checking their features on our credit card comparison page before you make your final decision.

Yvonne Taylor

Reviewed by Yvonne Taylor

Lead Product Analyst

User reviews


Customer service

Rates and fees



Convenient for first time credit card holder

Reviewed by Danielle

As a student and part-time worker, I find this card to be the most convenient and with the best interest rates offered for a first time credit card holder. The customer service is friendly, prompt and they are always there willing to help resolve your problems. They even have the courtesy to give you a follow up call and/or email.

Very good card

Reviewed by Anon

It is a good looking card and very convenient and has affordable and competitive rates and can also be used at a lot of places. With the security of specialised PIN that can only be used once and due to this security it makes life so risk free and recommend.


Much better than any other bank

Reviewed by Deenadeena

The customer service is excellent, they are very helpful when i need it. The card is amazing, I use it every now and then when needed, and the rates are fantastic. It took me a long time to find the right bank and I have finally found it. I will never change banks again.

Second to none service

Reviewed by Steve

Amazing customer service, understanding personal requirements. If every bank was this understanding we as consumers would be much happier. It feels like this bank is bringing back the old service that we as consumers deserve and crave. I couldn’t recommend Bank Of Melbourne highly enough. Try for yourself and you will see the difference.

Very pleased with this card

Reviewed by Samantha

I needed a card for emergency, for when we were travelling. It is perfect for families – easy to pay and easy to use. Customer service seeems great so far. Even though the online application was thorough, it was easy to navigate. They called the next day to see if we had any questions or problems.

So far I'm very happy with this product

Reviewed by David Foon

Changed to this product because previous card had no interest free period and had a higher interest charge. Still early days, but hopefully this should suit what my requirements are.

I am a little bit annoyed with Bank Of Melbourne because as a long term customer they never advised me that the old card had very little to offer me plus cost me more!

Run of the mill, nothing special

Reviewed by Jacki

This card is your standard credit card. I don’t find any real benefits from having it. I use it out of ease because it is easy to use. The charges are easy to understand, but I think they need to communicate any benefits that accompany it a lot better. The annual charges are not too bad and access to additional funds are fairly easy to acquire.

Easy to manage low rate card

Reviewed by Quenfin

The Bank of Melbourne Vertigo Card is great for those who are looking to consolidate credit cards and have one simple every day low rate card to manage. The sign-up process was very easy and streamlined. I would have no hesitation in recommending this credit card to others who are in a similar situation.

Easy to use with banking app, but no rewards

Reviewed by Laurinda

It’s very simple to use, and connects to your everyday account with the Bank of Melbourne internet banking app. I chose this card so I don’t have to log in to another bank to check my statement.

It’s a very good card for the modern user — standard rates, no yearly fee. However, there are no types of rewards or points. I recommend it for younger generations due to its simplicity.

This card had a great 0% balance transfer deal

Reviewed by Vicki

I took advantage of the Vertigo 0% balance transfer deal earlier this year. So far I haven’t had any dramas and no fuss. The payment reminders are great and Internet banking is easy to use. It has a competitive interest rate and is a great value no frills credit card.

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