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BankSA

BankSA Vertigo Platinum

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BankSA
Medium vertigo platinum

Good For

Low Rates Introductory Offers Balance Transfer Offers Perks Max Interest Free Days lowest Monthly Repayments

  • Type: Visa
  • Level: Platinum

All Offers

Balance Transfers Offers 0% for 18 months then 12.74%
Introductory Offers 1% for 12 months then 12.74%
Special Offers N/A

Rates & Fees

Ongoing Purchase Interest Rate 12.74%
Annual Fee $99
Maximum free days Up to 55
Late Payment Fee $9
Over Limit Fee $0

Overseas Spending

Currency Conversion Fee 3%
Overseas ATM Charges $2.5 or 2% (the higher of)
Estimated ATM Cost for AU$300 withdrawal $15.00

Perks

Travel Insurance Up to 180 days
International
VIP Perks
  • Price guarantee scheme
  • Rental vehicle excess insurance
  • Extended warranty
  • VIP Seating
  • Concierge service available

Repayment Details

$ Minimum Repayment $10
% Minimum Repayment 2%

Application Requirements

Minimum Credit Limit $6,000
Maximum Credit Limit $80,000

Striking the balance between wants and needs is always difficult. All of us want to enjoy the finer things in life - the trade-off is that we often end up having to burn more cash to do it. This is the same with credit cards - many of us want to be able to enjoy the VIP privileges that come with some credit card offerings, but we're also aware that they're usually accompanied by high fees and rates.

The BankSA Vertigo Platinum Card attempts to strike a finer balance between these two competing ideals. While it provides the regular trappings of a platinum product, it's also a low rate credit card, which means if you manage your finances wisely you may be able to pay less for the luxury treatment.

The BankSA Vertigo Platinum Card rates and fees

This product is unique among BankSA rate credit cards in that it offers the bank's lowest variable purchase rate. At 12.74 percent, it compares favourably with other BankSA credit cards and with other products on the market.

It's also a low fee credit card, with an annual fee of $99 - relatively low compared to other platinum cards on the market. If you want to share its benefits with others, then take note that you can add up to three more cardholders at no charge.

Not all of the BankSA Vertigo Platinum Card rates and fees are so generous, however. If you need money in a hurry and take out a cash advance, you'll not only pay a 2 percent fee at a minimum of $2.50, but also accrue interest on the transaction at a rate of 21.49 percent per annum. This is also the regular rate on balance transfers.

Other fees to take note of include:

  • Card replacement fees of $15 and $52.50 if within or outside of Australia, respectively, plus $45 for emergency card replacements
  • A late payment fee of $9
  • An over limit fee of $9

The platinum perks

While even this can seem like an intimidating expense, for the buyer who can manage their spending wisely, it may be worth it. There are a number of benefits cardholders automatically receive that they wouldn't get from other BankSA Visa cards.

For one, you will receive both complimentary overseas travel insurance and transit accident cover. This includes:

  • Unlimited cover on medical expenses, excluding emergency dental and bed care allowance
  • $20,000 per person for damage or loss of personal items
  • Unlimited cover for travel cancellations due to unforeseen events, with some terms and conditions
  • $750,000 worth of cover for injury or death while travelling outside Australia

To apply, however, you will have to pay for certain travel costs and tickets with your BankSA Vertigo Platinum Card, plus meet some other eligibility criteria.

Other complimentary types of insurance you'll receive are price guarantee cover (claiming back the difference if you find an item you bought for a cheaper price), purchase cover (protecting you against theft, damage or loss) and 12 months automatic extension of the manufacturer's warranty. Note that these all have particular conditions and time limits set.

Finally, for those who find there's never enough time in the day, you'll have access to the Visa Platinum personal concierge service. They can do everything from arrange vehicle hire to restaurant and hotel bookings.

You can apply online if you're interested. You'll need to be over 18 and an Australian citizen or permanent resident, plus provide your driver's licence, and details of your income, employment and financial commitments.

More about BankSA

BankSA takes advantage of some of the best Credit Cards in the industry, offering its customers a wide choice for their different spending habits. For low rates and fees, many customers have chosen the Vertigo Credit Card, while big spenders will enjoy the luxury of the Platinum Visa and MasterCard Credit Cards. All 3 have been awarded 5 Star CANNEX ratings for value and service.

Expensive shopper? Compare platinum credit cards by the highest CANNEX Star Ratings.