ANZ Business One Low Rate – Review & Online Application

Information verified correct on December 6th, 2016

Set limits for each additional card and control your business spending

The ANZ Business One - Low Rate Card has an annual fee of $150 and an additional cardholder fee of $30. If minimum spend of $20,000 is reached, annual card fee of $150 and additional cardholder fee of $30 will be waived.

You can set monthly spending caps for each additional card to match your business budget — cash can restricted on some or all cards depending on your requirements.

Product NameANZ Business Low Rate
Purchase rate (p.a.)14.26% p.a.
Annual fee$150 p.a.
Cash advance rate (p.a.)16.41% 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%
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.
2.5% 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$150 p.a.
Minimum Repayment2%
Late Payment Fee$35
Over Limit Fee$50
Cash Advance FeeGreater of $1.50 or 1.50% of the cash advance amount
Overseas Cash Advance Fee1.50% 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 AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$30 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • A low interest rate of 14.26% p.a. on purchases
  • The $150 annual fee can be waived if the annual spending is above $20,000.
  • Provides a company liability insurance, which protects your business against misuse of your cards

Cons

  • There is no interest free period with this card.

ANZ Business One - Low Rate review

The ANZ Business One Low Rate Credit Card gives you a cheap and effective way to control your business spending. All your account information is displayed on your monthly statement. Details for fees, charges, spending and payments are displayed for each individual card.

The annual fee is usually, $150 An additional cardholder can be added to the account (the primary card holder can set the limit for the supplementary card). You can get a supplementary card for $30. The annual fee is waived if you reach the minimum annual account spend on the card every year.

The ANZ Business One - Low Rate Card also has a number of insurance policies included, which can protect you in the event of fraud or other circumstances. Transit accident insurance is a handy feature that protects the card holder while travelling to and from work.

The following ANZ business One Low Rate review should help you know whether this card is right for your business.

Low rate account

  • Low annual fee
    The ANZ Business One - Low Rate has an annual fee of $150 If minimum spend of $20,000 is reached, annual card fee of $150 and additional cardholder fee of $30 will be waived.
  • A low ongoing purchase rate of interest
    The ANZ Business One - Low Rate account has a purchase rate of interest of 14.26% p.a. This is charged when you are not eligible for any interest free days and you use the card for purchases.
  • A low rate on cash advances
    Although still a somewhat high rate of interest of 16.41% p.a., the cash advance rate of interest (applies when the card is used to withdraw cash at an ATM, for example) is still lower than most cash advance rates on personal and business credit card products.

Low Annual fee and additional cardholder fee

The Business One Low Rate has an annual fee of $150, and an additional cardholder fee of $30. If minimum spend of $20,000 is reached, annual card fee of $150 and additional cardholder fee of $30 will be waived.

Up to days interest free

The ANZ Business One Low Rate is a great tool to compliment your business spending. The account offers up to days interest free when a purchase is charged to the card. This doesn’t apply if you’re carrying a balance from month to month though. Pay your account in full when the statement arrives and you’ll be able to make interest free purchases throughout the course of the month.

Complimentary insurances

  • Company liability insurance
    Company liability insurance offers cover up to $37,500 for each cardholder, and a total of $200,000 p.a. for the entire account for a range of events. Check the terms and conditions (available on request) for further information about this cover.
  • Transit accident insurance
    This pays up to $250,000 to cardholders in the event of an eligible accident while on a journey that was paid for with the account. This gives your employees added protection in the event that they must take a trip for work.
  • ANZ Falcon
    ANZ Falcon offers around the clock monitoring of your account for suspicious transactions. If a suspicious transaction is detected, ANZ will notify you to confirm whether you have authorised the card use. If you can’t be contacted, a decision will be made about blocking your account.
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ANZ Business One - Low Rate - Rates & Fees features

  • Annual fee. The annual fee is waived in the first year and in subsequent years if you reach the minimum account spend.
  • Company liability insurance.
  • Up to days interest free when the card is used to make a purchase and you pay back the balance in full each month.
  • A low ongoing purchase rate of interest of just 14.26% p.a.
  • Transit accident insurance provides cover while you’re travelling if you purchased the tickets with the ANZ Business One - Low Rate Card.
  • Add an additional cardholder to the account for an annual fee of $30
  • ANZ Falcon account security.
  • Visa No Liability anti-fraud guarantee protects you if you are the victim of credit card fraud.
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How to apply for the ANZ Business One - Low Rate credit card

To apply for the ANZ Business One - Low Rate Credit Card, follow the links on this page.

The online application should only take about ten to fifteen minutes to finish, and once you’ve submitted the application, ANZ will be in touch on the email you provided to inform you about the status of your application. Your application will be approved, declined or conditionally approved. You should receive notification of the outcome of your application within 7-10 business days.

You can confirm your eligibility for the product by reading the following information.

Application requirements

To be eligible for the ANZ Business One Low Rate Credit Card, you need to be applying on behalf of a business entity, which is either a:

  • Sole trader, partnership or company
  • A trust, association or co-operative

You must also:

  • Be authorised to open the account on behalf of the business
  • All proprietors must be permanent Australian residents and over the age of 18
  • Agree to use the card wholly for business purposes

Joint applications

A minimum of two people must apply if the business entity has two or more directors proprietors or partners. If you’re a sole trader, the principal of the business must apply.

Required documents

Make sure you have the following information on hand before you start the application.

  • The registered business name, business number (ABN or ACN), trading address and mailing address and the business structure (partnership, company or a sole trader for example)
  • Information of your existing business accounts and products held with other lending institutions
  • Personal information about each of the authorised applicants who wish to apply for the account
  • Information about each additional card holder and signatory you want to add to the account

After you apply

The nominated ANZ Business One Low Rate applicants may be required to verify their identity at an ANZ branch to complete the verification process.

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Rates last updated December 6th, 2016
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