Managing Cash Flow With The ANZ Business One - Interest Free Days
When you run a business keeping a good handle on your cash flow is key to success. An ANZ Business One Visa 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 Name | ANZ Business 55 Interest Free Days |
|---|---|
| Purchase rate (p.a.) | 17.74% p.a. |
| Annual fee | $150 p.a. |
| 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 Repayment | 2% |
| Card Type | Visa |
| 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. | 2.5% of transaction value |
| Complimentary Travel Insurance | No |
| Available To Temporary Residents | No |
| Joint Application | No |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | No |
| 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 | $150 p.a. |
|---|---|
| Minimum Repayment | 2% |
| Late Payment Fee | $35 |
| Over Limit Fee | $50 |
| Cash Advance Fee | The greater of $1.50 or 1.50% of the Cash Advance amount plus any ATM Operator Fee |
| Overseas Cash Advance Fee | The greater of $1.50 or 1.50% of the cash advance amount |
| Overseas ATM Withdrawal Fee | $1.50 |
| 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. | 2.5% of transaction value |
| Gambling Transactions Allowed | Yes |
| Gambling Transactions Interest Rate | Cash Advance Rate |
| Additional Cardholder Fee | $30 p.a. |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | No |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| In Branch | Yes |
| Yes |
Pros
- You can enjoy an interest-free period of 55 days.
- This card comes with a complimentary travel insurance
- You can give employees their own cards with a predetermined spending limit to avoid overspending.
Cons
- You need to pay an annual fee of $150.
- There is a fee of $30 per additional cards.
ANZ Business One 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 One is a Visa card that gives you an introductory offer of up to 55 interest-free days on your credit purchases. 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 of ANZ Business One Interest Free Days
Complimentary insurance policies
- Company liability insurance. Company liability insurance is offered with this credit card. The insurance policy covers against fraudulent use of your credit card with a cap on $37,500 per card. Optionally, there is an annual limit of $200,000 which is available for the entire card facility. This policy is underwritten by Zurich Australian Insurance.
- Card holder 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 Zurich Australian Insurance. Both insurance policies are subject to certain terms and conditions as stipulated by ANZ and Zurich Australian Insurance.
ANZ Complimentary Credit Card Insurance Guide
Features of the ANZ Business One 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.
- ANZ credit card security. The ANZ Business One 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.
- Fees and rates. Cardholders are required to pay an annual fee of $150 and you can also have an additional cardholders for a fee of $30. 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.
- Optional extras. ANZ allows you to customise the appearance of your credit card with Design My Card feature. Businesses who want to have their business logo appear on the card can take advantage of this extra feature. ANZ online statements are also an optional extra available with the credit card.
How to apply for the ANZ Business One
Eligibility requirements for the ANZ Business One credit card are as follows:
- 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.
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 One Visa credit card to benefit from interest-free days on purchases for 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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Can I withdrawn from an ATM from my business one credit card? If I can what is the daily limit?
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
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
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
WHY AM I CHANGE INTERST ON PURCHASES
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