Bank of Melbourne Vertigo Credit Card: features and benefits

Only a few credit cards are simple and provide you with much-needed features. One of these simple cards is the Bank of Melbourne Vertigo Credit Card.
Bank of Melbourne Vertigo Credit Card

Credit Cards have gained a lot of trust by offering different fancy and complicated features. From Rewards programs to travel insurance, these offers attract most of the customers. But the fact is, these offers come with a lot of terms and conditions. Many use these cards irresponsibly and end up in debt. Contrary to these, there are a few cards out there that are much simpler and provide you with very basic and much-needed features. One of these basic and simple cards is the Bank of Melbourne Vertigo Credit Card.

This card has features like 0% p.a interest on long balance transfers for 32 months, no balance transfer fee, a $0 annual fee for the first year, and many others. The Bank of Melbourne Vertigo Credit Card is the best option, if you want to avoid these complex features and just want your card costs to be minimum.  We will now explain the features and benefits in detail.

Bank of Melbourne Vertigo Credit Card main benefits

This card offers 0% p.a interest for 32 months on balance transfers. This is a much easier way to pay off any existing credit card debt while saving money. To avail of this offer, you have to apply before 30 June 2022 and you also have to mention the balance transfer request while applying. After the introductory period, a variable cash advance rate of 21.49% will be charged on any unpaid amount.

If your application for the Bank of Melbourne Vertigo Credit Card is approved by 30 June 2022 there will be no annual fee for the first year. A $55 annual fee will be charged after the first year. This credit card has an interest rate of 13.99% p.a on purchases which is quite low compared to other cards. There is also an option to add this card to your Google Pay, Samsung Pay Wallet, or Apple Pay.A

There are 55 interest-free days on purchases if you manage to pay your monthly balance in full before the due date mentioned on the statement. These interest-free days are separate from any other or longer-term interest rate promotions. You can also add a second cardholder with no extra charges. This credit card offers a minimum credit limit of $500 and a maximum credit limit of $80,000.

Bank of Melbourne Vertigo Credit Card

The credit limit doesn’t apply immediately but will take some time based on the bank policies and your credit history. This credit card is a Visa card, allowing you to use your card anywhere in the world where Visa is accepted. With the Visa option, you can also take advantage of the many promotions for hotel bookings, shopping, travel, etc. You might want to check the details for these deals on the Visa Australia Website.

Cashback offer

Apply before 30 June 2022 to enjoy the 5% cashback offer. Use the Bank of Melbourne Vertigo Credit Card to pay for your shopping at any listed supermarket. 5% cashback will add to your account within 30 days. The Maximum limit is $400. This cash-back offer will be valid till 31st December 2022. Remember you have to mention that you are applying for the cashback offer.

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Bank of Melbourne Vertigo Credit Card security features

This credit card offers 24/7 fraud monitoring. To keep you out of any trouble the security systems provide Anti-virus protection to keep away any threats. Firewalls are there to prevent any unauthorized access to your account on the system. Other security features include Adaptive authentication, Automatic time-out period, and Secure Code. The Fraud and detection support team will also contact you personally if they find something suspicious.

The Fraud Money Back Guarantee will reimburse any unwanted and unauthorized transaction if you prove that you have not contributed to the loss. It would be a good idea to read the Bank of Melbourne Vertigo Credit Card terms and conditions properly. For secure online shopping Bank of Melbourne, eftpos Secure, and Visa Secure Services work together. Services for online payments like ‘One Time Password’ are also there, for a secure and smooth shopping experience.

Bank of Melbourne Vertigo Credit Card rates and fees

The Bank of Melbourne Vertigo Credit Card fee for the first year is $0. A total of $55 will be payable annually after the first year. The cash advance rate is 21.49% p.a. This credit card charges a 13.99% p.a variable interest rate on purchases. Note that this rate will be payable from the transaction date. For each cash advance amount, a 3% cash advance fee is applicable. There is a $15 fee for the late or missed payment. The international transaction fee is 3% of the transaction value.

Important things to remember

It is worth remembering that the balance transfer offer is available to only those who apply by 30 June 2022 as a new cardholder. If you want to benefit from the balance transfer offer, you must remember that you can transfer debt from Australian credit cards not issued by Bank of Melbourne, BankSA, or St.George.

The minimum transferable amount is $200 and you can transfer a maximum of up to 80% of your credit limit. There is an option to apply online, which only takes 10 minutes or you might want to visit the nearest branch. To apply for a Melbourne Vertigo credit card, you must be an Australian citizen or a permanent resident of age 18 or above.

While applying you have to enter your personal details like full name, date of birth, residential address, phone number, and email address. You will have to submit a valid driver’s license or passport. Then, you will continue to fill in the employment details. These details include your job title, employment tenure, and salary. You might have to submit the payslips or the bank statement as proof of your income to get the Bank of Melbourne Vertigo Credit Card.

How to apply?

The next step of the Bank of Melbourne Vertigo Credit Card application will be to provide other financial details such as pensions or any other government payments. You will have to mention other details like savings or assets. In the next step, you will have to share the details of your household expenses, any existing debt, loans, or other liabilities.

Conclusion

The simple features of the Bank of Melbourne Vertigo Credit Card make it a perfect option for someone looking to pay off their credit card debt easily. The Zero interest on the eligible purchases is great. Card balance transfer offer is also attractive but the restriction to transfer an existing balance from St.George, BankSA, and Bank of Melbourne is not suitable for many. The cash advance rate is quite high and the balance transfer is at 80%. Security features are up to date and well balanced with the current times.