ANZ Business 55 Interest Free Days – Review

Manage cash flow and enjoy a $0 first year annual fee with the ANZ Business 55 Interest Free Days credit card.

When you run a business keeping a good handle on your cash flow is key to success. The ANZ Business 55 Interest Free Days can help you do this by providing one more way to manage your bills and control spending. Just by using your Visa for certain expenses you automatically qualify for insurance which will help you remain safe in the event of fraudulent use of the card, or even when travelling overseas for work. Running a business is unpredictable, therefore having a card that can be flexible and secure enough to meet the bends along the way may prove to be handy.

Product NameANZ Business 55 Interest Free Days
Purchase rate (p.a.)17.74% p.a.
Offer end date31 December 2017
Annual fee$0 p.a. annual fee for the first year ($150 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)19.24% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment2% or $10, whichever is greater
Card TypeVisa
Late Payment Fee$35
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$0 p.a. annual fee for the first year ($150 p.a. thereafter)
Minimum Repayment2% or $10, whichever is greater
Late Payment Fee$35
Over Limit Fee5% of the overlimit amount, to a max of $50/monthly statement
Cash Advance FeeThe greater of $1.50 or 1.50% of the Cash Advance amount plus any ATM Operator Fee
Overseas Cash Advance FeeThe greater of $1.50 or 1.50% of the cash advance amount
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingNo
Internet Banking TransfersNo
In BranchYes
MailYes

Pros

  • First year annual fee waived if you apply before 31 December 2017
  • You can enjoy an interest-free period of up to 55 days.
  • You can give employees their own cards with a predetermined spending limit to avoid overspending.
  • You can 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.

ANZ Business 55 Interest Free Days Review

Benefit from up to 55 days interest-free for purchases, controlled spending and easier management of your statements with the ANZ Business One Visa credit card.

The ANZ Business 55 Interest Free Days is a Visa card that gives you an introductory offer of up to 55 days of extended cash flow. The Visa card enables you to have greater control over your spending, and you can also apply a limit on your transactions.

ANZ allows you to conveniently access your account online and using phone banking as well. You can monitor your account by checking transaction details and account balance. As a Visa card, the card can be used anywhere in Australia and all over the world.

This credit card can also be used to make purchases online, over the phone and in-store via EFTPOS as well. Cardholders are able to easily manage their accounts by setting limits and monitoring transactions with ANZ phone and internet banking.

An important consideration is the insurance policies that come with this card. You will receive company liability insurance as well as transit accident insurance which covers the cardholder and family.

Benefits and features of ANZ Business 55 Interest Free Days credit card

  • Annual fee waiver. Get a $0 first year annual fee if you apply before 31 December 2017.
  • Unauthorised Transaction Insurance. The insurance policy covers against fraudulent use of your credit card with a cap of $37,500 per card. There is an annual limit of $200,000 which is available for the entire card facility. This policy is underwritten by QBE.
  • Cardholder transit accident insurance. Transit accident insurance provides coverage for the cardholder, his/her spouse and dependent children in the event of an accident occurring while travelling. The insurance policy is only valid if the journey was paid for using this credit card. The policy comes with a claims limit of $250,000 and it is also underwritten by QBE Insurance (Australia) Limited. Both insurance policies are subject to certain terms and conditions as stipulated by ANZ and QBE Insurance (Australia) Limited.
  • ANZ credit card security. The ANZ Business 55 Interest Free Days credit card is secured by ANZ Falcon security which provides 24-hour surveillance. All your transactions, whether conducted regionally or internationally, are monitored. This includes phone, online and POS transactions. You can also monitor your credit card by accessing monthly statements.
  • Optional extras. ANZ allows you to customise the appearance of your credit card with Design My Card feature. Businesses who want to have their logo or custom design appear on the card can take advantage of this extra feature for a $15 charge. ANZ online statements are also an optional extra available with the credit card.

ANZ Complimentary Credit Card Insurance Guide

Rates and fees of the ANZ Business 55 Interest Free Days

  • Interest-free days. This is one of the most notable features of this credit card. New cardholders have access to an interest-free period of up to 55-days with their purchases. Make sure that you pay off your balance each statement period, or the standard purchase rate of 17.74% p.a. will apply.
  • Fees and rates. Cardholders are required to pay an annual fee of $150 and you can also have an additional cardholders at no cost. ANZ offers standard variable rates with this credit. Interest on cash advances is 19.24% p.a. while interest on purchases is offered at a rate of 17.74% p.a.

How to apply for the ANZ Business 55 Interest Free Days card

Eligibility requirements for the ANZ Business 55 Interest Free Days credit card are as follows:

Application criteria

  • Age limit. The minimum age for this credit card is 18 years of age.
  • Eligible applicants. This card is eligible for business purposes and as such only sole traders, partnerships, companies, trusts, association or co-operatives can apply.

Required documents

You will need to have the following information ready for your application.

  • Business details. You will be required to provide details of your business number, trading address, type of business whether sole trader or partnership etc, mailing address and the registered business name. You will also provide details of the business accounts whether or not provided by ANZ.
  • Personal details. Personal details of directors/proprietor/partner will need to be included as well as the personal details of each cardholder. These include: their full names, contact details, date of birth etc.

Apply for the ANZ Business 55 Interest Free Days Visa credit card to benefit from extended cash flow of up to 55 days, complimentary insurance policies and much more. The credit card is available at an annual fee of $150.

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6 Responses

  1. Default Gravatar
    AnnieJanuary 24, 2015

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

    • Default Gravatar
      PEMNIOctober 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

    • Staff
      JonathanOctober 13, 2015Staff

      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

    • Staff
      JonathanJanuary 27, 2015Staff

      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

  2. Default Gravatar
    PHILLIPNovember 24, 2014

    WHY AM I CHANGE INTERST ON PURCHASES

    • Staff
      ElizabethNovember 25, 2014Staff

      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

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