BankSA Vertigo MasterCard – Details and Application
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If you use your credit card to make a lot of purchases and can’t always pay off the balance in full every month, then this is a card to consider.
With a low interest credit card you get peace of mind when it comes to your repayments. The Bank SA Vertigo Credit Card offers such a low interest rate, one that can be compared with an unsecured personal loan. There are no promotional deals for spending or balance transfers.
| Product Name | BankSA Vertigo MasterCard | |
|---|---|---|
| Balance Transfer Rate | 2.99% p.a. for 6 months | |
| Interest Rate on Purchases | 13.24% p.a. | |
| Offer end date | 2 July 2013 | |
| Annual Fee | $0 p.a. annual fee for the first year ($55 p.a. thereafter) | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.49% p.a. | |
| Minimum Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|
$500 | |
| Minimum Monthly Repayment | 2% | |
| Credit Card Type | MasterCard | |
| Late Payment Fee | $9 | |
| Complimentary Travel Insurance | No | |
| Available to Temporary Residents | No | |
| Joint Application | Yes |
The could be the ideal credit card for someone who love shopping with a low rate on purchases.
- Up to 55 interest free days on purchases – conditions do apply.
- Linked access to your other BankSA accounts, for the ease of one card banking
- Instant discounts with BankSA Instant Benefits
Annual fee
The BankSA Vertigo MasterCard has a $0 p.a. annual fee for the first year ($55 p.a. thereafter) which is also one of the lowest fees available when compared to other cards. This annual fee covers the cardholder’s card and 1 additional card as well.
Cash advances
If you need to make a cash withdrawal because something unexpected has come up, you can at 21.49% p.a. It is best to save this feature for the times you really need to use it.
Low interest rate
The annual fee and the interest rate are kept low on the Vertigo MasterCard could be because it does not offer a large rewards program. Rewards programs can be quite unproductive if you have to do trade rewards for a higher interest rate. That is why this card instead offers privileges and discounts to its cardholders only. These offers include magazine subscriptions, leisure experiences, shopping and entertainment experiences.
Interest-free spending periods
You will be given a 55 day grace period to play back your purchases when you use the Vertigo MasterCard offered by BankSA. This gives you some time to pay off the balance and still make the purchases you may need right away.
The BankSA Vertigo MasterCard has been designed for people that understand the value of a low interest rate. If you aren’t always able to pay off your balance every month, find some peace of mind with this card.
Credit Card Review
The basic interest rate is generous at 13.24% and the card has been awarded Australia’s cheapest credit card award by Money magazine. At $0 p.a. annual fee for the first year ($55 p.a. thereafter) is also fair. The interest free period of 55 days is also selling point of the card. There is also a system of linked access to other BankSA accounts and a discount incentive system with other BankSA products.
Customers reviewing the card have always stated that the card is very functional and have been impressed by its major selling features. In addition to this, the customer service which accompanies the card also often gets a wrap. The card activation, internet and phone service are all quick convenient and user-friendly. Overall, this card is a great product!
BankSA Vertigo MasterCard Benefits
- You’ll pay only $0 p.a. annual fee for the first year ($55 p.a. thereafter) – this is for the servicing of your account.
How to Apply
If you are ready to apply gather up your financial documents including details of your pay, debts and assets and your drivers licence number.
Read the BankSA Vertigo MasterCard terms and conditions.
| Minimum Age | 18 years of age | |
|---|---|---|
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $500 |
| Annual Fee | $0 p.a. annual fee for the first year ($55 p.a. thereafter) | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $9 | |
| Over Limit Fee | $9 | |
| Overseas Cash Advance Fee | $2 | |
| Overseas Emergency Replacement | $52.50 | |
| Foreign Currency Conversion Fee | 3% | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 | |
| Number of Additional Cardholders | 1 |
Pros
- A balance transfer rate of just 2.99% for 6 months is a great tool for cutting back on excessive interest repayments.
- A purchase rate of 13.24% is among the cards with the lowest in the market.
Cons
- This is a classic 'no-frills' credit card with no additional features, perks or rewards.
Read the BankSA Vertigo MasterCard terms and conditions.
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Am I able to apply for this card in Western Australia?
Thank you.
Hi Maggie
The current Bank SA Vertigo MasterCard balance transfer offer is available to all Australian residents, so long as the balance being transferred is from an Australian credit or store card from a bank other than Bank of Melbourne, St.George or Bank SA credit cards.
Cheers
Jeremy
Can i transfer a balance from my wife’s card as well as my own?
Thanks.
Hi Martyn,
Thanks for the question. For information on transferring a balance from your wife’s card please refer to our guide found here – http://www.creditcardfinder.com.au/balance-transfers-with-joint-primary-cardholders-guide.html
Cheers
Jeremy
hi,i am on family benefits,asking for a card that would allow me a 1500.00 balance,which card could i apply ty
Hi,
Thanks for your question. Provided you meet with the minimum income requirement and other credit card lending criteria there are a range of cards that you can apply for with that limit. The St.George Vertigo MasterCard and BankSA Vertigo MasterCard are two cards that have a minimum credit limit of $500. Cheers.
Jeremy
Hi guy’s mine is any easy one, i just applied for one of your cards. I would like to get the phone to contact someone about this as I did not write it down. thank you
Hi Garry. Thanks for your question. Please refer to this article for further information .