The Mystics had the better of the opening two quarters, but a couple of late Caitlin Thwaites goals brought the Pulse within two as the teams went to the break.
In the third quarter the Pulse found another gear as they forced turnovers from the visitors and held the lead during the middle stages of the quarter before the Mystics restored their parity to lead by two heading in to the fourth.
The final 15 minutes of play was dominated by the Mystics who used their experience and calm under pressure to record their fourth win of the season from five games.
The game featured two of the most penalised players in the transtasman league, with Mystics goal defence Kayla Cullen (65) and Pulse defender Te Huinga Reo Selby-Rickit (62) having had the whistle blown against them numerous times during the first four games of the season.
Cullen was substituted with about four minutes to go in the second quarter having accumulated nine penalties in her typically robust fashion and was replaced by former Tactix defender Charlotte Kight, although Cullen returned for the fourth and final stanza.
Pulse shooter Caitlin Thwaites came in to the game having connected on the fourth-most goals in the competition having drained 117 goals at 87 per cent and the Australian imported was again impressive as she scored 33 goals from 37 attempts.
1Q: 14-10, HT: 27-25 3Q: 38-36.
For the second week in a row, the Melbourne Vixens have staged an extraordinary comeback to defeat the Queensland Firebirds 52-51, the winning goal coming from Karyn Howarth with just three seconds to play.
The Vixens remain the only undefeated team in the 2012 transtasman netball season.
They had trailed by eight goals in the early stages of the final term yesterday and it appeared the Firebirds had secured just their second win of the year.
But just as they did last week against Waikato/Bay of Plenty Magic, the Vixens stormed home.
Coach Julie Hoornweg made the pivotal move late in the third quarter, replacing goal shooter Kate Beveridge with Howarth. Having scored just 12 goals, Beveridge had been beaten by Queensland's Australian defender Laura Geitz.
By contrast, the Firebirds shooters of Romelda Aiken and Natalie Medhurst had been well on top for most of the match. Aiken was brilliant, scoring 33 goals from her 36 attempts, while Medhurst had scored 18 from 23 shots.
The Firebirds have won just one of their opening five games this year; their only win at the expense of Central Pulse.