Tired of the hassle and high fees of traditional credit cards? The Bank of Melbourne Vertigo Credit Card is the ideal solution for savvy spenders who want to keep costs low. With a competitive interest rate, flexible repayment options, and strong security features, this card is designed to simplify your financial life. In this article, we’ll explore the key benefits of the Bank of Melbourne Vertigo Card, discuss its fees and interest rates, and guide you through the application process.
Why Should I Get a Bank of Melbourne Vertigo Credit Card?
The Melbourne Vertigo Credit Card offers a range of features that can help you manage your finances more effectively. Here are some key reasons to consider this card:
Low Interest Rate
The card features a low variable interest rate of 13.99% p.a. on purchases, making it an ideal choice for those who may not always pay their balance in full each month.
Flexible Repayment Options
With up to 55 interest-free days on purchases, you have more time to pay off your balance and avoid interest charges. This can help you manage your cash flow more effectively.
Security Features
The Bank of Melbourne Vertigo Card comes with a range of security features, including Falcon Fraud Monitoring and Verified by Visa, to help protect you from unauthorized transactions.
Convenient Features
The card offers the convenience of Visa PayWave for purchases under $100. It allows you to make quick and easy payments without the need to insert or swipe your card or enter a PIN.
Cashback Offer
New cardholders can take advantage of a special offer of 10% cashback on spending at selected supermarkets.
Pros and Cons of Bank of Melbourne Vertigo Credit Card
| Pros | Cons |
|---|---|
| Low 13.99% p.a. variable interest rate on purchases | $55 annual fee |
| Up to 55 interest-free days on purchases | 3% overseas transaction fee |
| Falcon Fraud Monitoring and Verified by Visa security features | No rewards program |
| Visa PayWave for convenient payments | |
| 10% cashback on supermarket and petrol spend (up to $500) |
Fees and Interest Associated with Bank of Melbourne Vertigo Credit Card
| Fee | Amount |
|---|---|
| Annual fee | $55 |
| Balance transfer fee | 2% of the transferred amount |
| Overseas transaction fee | 3% of the converted amount |
| Cash advance fee | 3% of the cash advance amount or $3.75, whichever is greater |
| Late payment fee | $15 |
| Over-limit fee | $15 |
How to Apply for a Bank of Melbourne Vertigo Credit Card?
To apply for the Bank of Melbourne Vertigo Card, follow these steps:
- Visit the Bank of Melbourne website and go to the Vertigo Credit Card page.
- Click on the “Apply Now” button.
- Fill out the online application form with your personal and financial information.
- Submit the application and wait for a decision.
Eligibility Criteria
To be eligible for the Bank of Melbourne Vertigo Card, you must:
- Be at least 18 years old
- Have a good credit history
- Meet Bank of Melbourne’s income and credit assessment criteria
- Provide valid proof of identity documents
The Final Words
The Bank of Melbourne Vertigo Credit Card is a great option for keeping credit card costs low. It offers a low interest rate, flexible repayment options, and strong security features. This card can help you manage your finances with ease. If you meet the eligibility criteria and are comfortable with the fees and interest rates, consider applying for the card.