ANZ Business 55 Interest Free Days

Last updated: Aug 18, 2020

Manage your business cash flow and save on costs with up to 55 interest-free days on purchases and a $0 annual fee in the first year.

The ANZ Business 55 Interest Free Days card is designed to improve business cash flow, simplify how you track company expenses and offer savings with up to 55 interest-free days.

If you apply by 15 December 2020, you'll get a $0 annual fee for the first year (reverts to $150).

17.74% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($150 p.a. thereafter)

55 days

Interest free period

Details

Product Name	ANZ Business 55 Interest Free Days
Purchase rate	17.74% p.a.
Annual fee	$0 annual fee for the first year ($150 p.a. thereafter)
Interest-free period	55 days
Cash advance rate	19.24% p.a.
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	No
Joint application	No

Pros

$0 annual fee for the first year
Enjoy an interest-free period of up to 55 days.
Give employees their own cards with a predetermined spending limit to avoid overspending.
Request for an additional card at no extra cost.

Cons

This credit card does not offer any introductory rates on purchases and balance transfers.
You cannot earn rewards for your spending.

Bonus points	N/A

Annual fee	$0 annual fee for the first year ($150 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$35
Foreign currency conversion fee	3%
Cash advance fee	1.5% or $1.50, whichever is greater
Overseas cash advance fee	1.5% or $1.50, whichever is greater
Additional cardholder fee	$0

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The ANZ Business 55 Interest Free Days credit card is suited to small and medium businesses that want to manage their expenses under one account. You can manage your employee spending with additional cardholders and individual limits for each card.

Like many business cards, you can also link it with accounting software programs to simplify your cost tracking. The annual fee is relatively low when compared to other business credit cards, but cards with higher fees will generally offer more perks or may be linked with a frequent flyer program.

How to apply

You can apply for the ANZ Business 55 Interest Free Days credit card online in 10 minutes. Before you apply, make sure you've met the eligibility requirements and have the necessary information to complete the application.

Eligibility criteria

Eligible Australian business. This card is available to business entities (including sole trader, partnership, company, trust, association or co-operative) operating in Australia. The primary cardholder must be authorised to open an account on behalf of the organisation.
Residency. At least one director, partner or proprietor applying for the account must be a permanent Australian resident.

Age. You must be at least 18 years old.
Business purchases. You must agree to use the card wholly or predominantly for business purposes.

Required documents

Registered ABN or ACN. You'll need to confirm your company's name, the type of business it is and list the ABN, ACN, trading address, mailing address.
Personal details. This includes the name, date of birth, address, income, expenses, assets and liabilities of each director, partner or proprietor authorised to apply for the account. You’ll also need to include the same details for each additional cardholder and authorised signatory.
Existing finances. You'll be asked to provide details of any existing business accounts or loans with ANZ or other institutions. You'll need to list the facility, purpose, institution and current credit limit.

Card benefits

$0 annual fee in the first year. This card waives the annual fee for the first year when you apply by 15 December 2020. After the first year, the card's annual fee of $150 will apply.
Up to 55 interest-free days. If you pay your balance in full by the statement due date, you can improve your cash flow and save on interest costs with up to 55 interest-free days on purchases.

Expense tracking. Your monthly statements will be sorted by cardholder, making it easy to understand individual and total business credit card expenses. You can simplify your account process with data feeds to Xero, MYOB, Intuit Quickbooks Online and more.
Additional cardholders and spending controls. Request additional cardholders for no extra fee. You can set monthly spend caps, transaction limits and merchant category controls for each card.
Security and purchase protection. Take advantage of Unauthorised Transaction Insurance that protects your business against fraudulent transactions up to $37,500 per cardholder and $200,000 for the total account per 12 month period. Your account will also be monitored 24/7 by ANZ Falcon and you'll be covered by ANZ Fraud Money Back Guarantee.
Transit accident insurance. This covers certain injuries or loss of life sustained on a trip purchased with the card.

Rates & fees

Annual fee. Outside of any promotions, this card charges a $150 annual fee. The annual fee is charged on the anniversary date of your account activation.
Purchase interest rate. Your purchases will be charged 17.74% p.a.

Cash advance interest rate. If you use the card to make a cash advance, such as an ATM withdrawal, you'll be charged 19.24% p.a.
Minimum credit limit. You can request a credit limit as little as $1,000.

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6 Comments

Annie
January 24, 2015

Can I withdrawn from an ATM from my business one credit card? If I can what is the daily limit?

Reply
- PEMNI
  October 8, 2015
  
  Hi
  
  If I pay off my monthly accounts payable statements with this card, Is this considered a cash advance?
  Is this included in the interest free days?
  Do I earn reward points?
  
  If so, is there a card which allows me to do this, which is not Amex? and earns me FF points.
  
  Thanks
  Pemni
  
  Reply
- finder Customer Care
  
  Jonathan
  October 13, 2015
  
  Hi Pemni, thanks for your inquiry!
  
  Monthly accounts payable statements are generally considered cash advances but is dependent on the merchant/ company you are transacting with. If they are considered purchases then they can be included in interest-free days. This account does not come with reward points earnings. You can compare frequent flyer cards on this page.
  
  Cheers,
  
  Jonathan
  
  Reply
- finder Customer Care
  
  Jonathan
  January 27, 2015
  
  Hi Annie,
  
  Thanks for your inquiry,
  
  Withdrawals from a ANZ Business One card are possible as it is a VISA card. The daily limit on withdrawals sums of money up to a limit of AUD $1000 – and more if you make special arrangements with ANZ.
  
  I hope this has helped.
  
  Cheers,
  
  Jonathan
  
  Reply
Phillip
November 24, 2014

WHY AM I CHANGE INTERST ON PURCHASES

Reply
- finder Customer Care
  
  Elizabeth
  November 25, 2014
  
  Hi Phillip,
  
  Thanks for your question.
  
  You’re charged interest on purchases because that is the way this card, and most credit cards work. You can take advantage of up to 55 days interest-free on purchases when you pay your balance back in full each month to help save on interest charges.
  
  I hope this has helped.
  
  Thanks,
  
  Elizabeth
  
  Reply

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ANZ Business 55 Interest Free Days