Bank of Melbourne Vertigo Credit Card: Cashback, Low Rates, and Big Rewards Reviewed

The Bank of Melbourne Vertigo Credit Card presents an appealing combination of cashback, competitive interest rates, and rewards points, designed to attract a broad range of Australian consumers looking for value. Currently, new applicants can receive up to $500 cashback by spending at selected supermarkets and petrol stations within the first 180 days. Additionally, approved cardholders can benefit from a low 6.99% p.a. interest rate on balance transfers for 12 months, with a separate deal available for 36 months at the same rate and no transfer fee. Card details, such as credit limits, are based on individual application criteria and Bank of Melbourne’s assessment.

How to Apply: Step by Step

Begin by gathering your personal identification documents and recent financial information. Head to the Bank of Melbourne website and navigate to the Vertigo card application page.

Fill out the online form, entering your details honestly and ensuring all information matches supporting documents.

Indicate your balance transfer request at application, if desired, nominating up to three non-Bank of Melbourne issued credit or store cards for transfer.

Submit your application and await approval. Upon receiving your card, activate it, and you’re ready to start using it for eligible cashback and rewards.

Key Pros of the Offer

One major advantage is the 10% cashback that can significantly reduce everyday expenses at participating supermarkets and petrol outlets, up to $500 total.

Furthermore, the 6.99% interest rate for balance transfers presents a cost-efficient way to manage your credit card debt without hefty fees draining your finances.

Some Cons Explained

This offer is only available to new customers, not those who have held a Bank of Melbourne, St.George, or BankSA credit card in the last 24 months.

Additionally, not all retailers are eligible for cashback, and certain transactions like gift cards or government payments are excluded, which may limit rewards.

Our Verdict

The Vertigo Credit Card from Bank of Melbourne is a compelling choice for Australians wanting to lower costs and access flexible balance transfer options. While not perfect for everyone, the cashback and low rates can provide genuine value for new applicants who qualify.