Bank of Melbourne Credit Cards
Do you have any idea why Bank of Melbourne credit cards are so popular among consumers? Despite hundreds of options, cards from this bank rank high in terms of customer satisfaction and features. With a moderate selection, anybody interested in credit cards from Bank of Melbourne is sure to find one that matches their personal criteria. Not only does this bank offer a choice of cards, but all of them have something unique.
| credit card details | purchase rate (p.a.) | balance transfer (p.a.) | balance transfer period | annual fee | online application |
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| credit card details | purchase rate (p.a.) | balance transfer (p.a.) | balance transfer period | annual fee | online application | |
|---|---|---|---|---|---|---|
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Bank of Melbourne Vertigo MasterCard Special balance transfer rate available until 29 Feb 2012 and low ongoing interest rate on spending. |
13.24% | 0.99% | 12 months | $55 | top choiceApplication |
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Bank of Melbourne Gold Low Rate Credit Card Overseas travel insurance. Shopping protection. Low rate on balance transfers. |
15.99% | 1.99% | 9 months | $79 | |
Help with Choosing a Bank of Melbourne Credit Card
There is no denying that other banks have a larger selection than the Bank of Melbourne. However, this does not mean you have to turn somewhere else to find what you are looking for. Quantity doesn’t necessarily mean quality.
With a variety of high quality offers to consider, it is easy to compare every option – without missing a single detail. The cards include the highly popular Vertigo MasterCard, Gold Low Rate Visa or MasterCard, Amplify Visa, Platinum Visa, and No Annual Fee Visa Card or MasterCard. As you compare these options, consider the following details.
- Is the interest rate important to you? – Some of these cards offer lower rates than others. If you carry a balance or are interested in a balance transfer, this is one of the most important questions you need to answer.
- Do I qualify? – Some of the credit cards from Bank of Melbourne require a higher income and better credit score than others. This is standard, however, across the whole industry.
- What do I get in exchange for becoming a customer? – Although access to a credit card is benefit enough, there is nothing wrong with wanting more. Is there a rewards program? How about complimentary insurance?
Pros
- Limited choice, easier decision – Although the Bank of Melbourne have a smaller number of cards to choose from, this does make it easier to choose the right card.
- Low interest rates – The Platinum Visa, for example, has a low ongoing interest rate on purchases. Several others offer excellent balance transfer deals during an introductory period.
- Low annual fees – When compared to the competition, the Bank of Melbourne credit card range is quite reasonable in terms of the annual fees charged. Some competing banks charge hundreds of dollars per year, although this is for the higher end cards.
Cons
- Limited choice: – Just as smaller numbers can be a benefit, it can also be a drawback. Will one of the credit cards from the Bank of Melbourne suit your needs, or do you need to broaden the scope of your comparison?
- Variable interest rates – Variable interest rates on some cards, such as the Vertigo MasterCard, can make it difficult to plan ahead for future purchases, especially if you plan on carrying over a balance, month to month.