Bank of Melbourne
Enjoy up to $500 cashback on eligible spend and balance transfers at 6.99% p.a. for up to 36 months. Perfect for those wanting to save on interest.
The Bank of Melbourne Vertigo Credit Card features an enticing offer for Australians seeking real value. With up to $500 cashback on purchases at select supermarkets and petrol stations, it stands out for everyday savings.
New applicants benefit from a competitive 6.99% p.a. interest rate on balance transfers, available for either 12 or 36 months depending on the offer. There is no balance transfer fee applicable for new customers, making it appealing for consolidating existing debts.
The credit limit will be determined individually upon application, taking into account your financial circumstances and credit assessment. Standard eligibility criteria, including credit and income checks, apply as per usual banking practice.
How to Apply for the Vertigo Credit Card
Begin by preparing your identification and proof of income documents before applying online. Then, complete the secure Bank of Melbourne application form with your personal and employment details.
Submit your application for assessment. Bank of Melbourne will review your file, check eligibility, and assess creditworthiness before making a decision.
If approved, you will receive your new Vertigo Credit Card in the mail. Simply activate it and use it at eligible supermarkets and petrol stations to start earning cashback or set up your balance transfer as needed.
The step-by-step process is straightforward and primarily digital, with guidance available on the Bank of Melbourne website for any questions that may arise.
Key Pros of the Vertigo Credit Card
The most prominent advantage is the cashback of up to $500, making it ideal for those who spend regularly at supermarkets and petrol stations. This feature helps lower daily expenses effectively.
The 6.99% p.a. on balance transfers for up to 36 months is also notable, providing ample time to pay down existing credit card debts at a low interest rate. This creates an opportunity for significant interest savings.
Key Cons of the Vertigo Credit Card
Existing customers or those who have held a Bank of Melbourne, St.George, or BankSA credit card in the last 24 months are ineligible. This limits the offer to new customers only.
Also, cashback is restricted to purchases at merchants officially classified as supermarkets and petrol stations; spending outside these categories does not qualify for the bonus.
Our Verdict
For new Bank of Melbourne customers looking to save on everyday purchases and reduce interest on existing card debts, the Vertigo Credit Card is a strong contender. The cashback offer is generous and the balance transfer rate stands out in the market.
Consider your eligibility and spending habits before applying. Overall, it provides valuable financial perks and simplicity for everyday Aussies seeking more from their credit card.