Surprised this hasn't been posted yet. Walked by a Bank of Melbourne branch today with an ad for this stuck on the window. Annual fee is $99 for the Vertigo Platinum credit card (waived for first year if existing customer), but you can potentially save a lot more with the balance transfer over the 20 months.
There are other credit cards with lower annual fees, but they give a lower duration for the 0% rate.
https://www.bankofmelbourne.com.au/personal/credit-cards/com…
Vertigo Card ($49) - 18 months
No Annual Fee Card ($0) - 12 months
Fine print:
The promotional balance transfer rate is available when you apply for a new Bank of Melbourne Vertigo Platinum card between 24 June 2015 and 23 September 2015 and request at application to transfer balance(s) from non- St.George, Bank of Melbourne and BankSA Australian issued credit, charge or store cards. The variable purchase interest rate applies to balance transfers requested at any other time. Switches, upgrades, customers accessing employee benefits or packaged cards are ineligible. Promotional rate not available in conjunction with any promotion other than the special purchase rate promotion. Promotional rate will apply to any balance(s) transferred (min $200 up to 95% of your approved available credit limit) for 20 months, unless the amount is paid off earlier. The variable cash advance rate, currently 21.49% p.a. will apply to balance(s) transferred but left unpaid after 20 months. Card activation will trigger the processing of the balance transfer. Bank of Melbourne will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). Interest free days don’t apply to balance transfers.
TLDR:
- Must be transferring from an account not from a St.George, Bank of Melbourne or Bank SA credit card
- Balance transfer must be done at the time of applying for a new card
- 0% transfer only applies for transfers up to 95% of credit limit
- Transfer will occur when card is activated
Not just Bank of Melbourne, but just by changing the domain name you can get exactly the same offer at BankSA or St George:
https://www.banksa.com.au/personal/credit-cards/low-rate/ver…
https://www.stgeorge.com.au/personal/credit-cards/low-rate/v…
(Thanks zzymurgy)
Bureau of Meteorology?