ANZ Business Low Rate

Save with a $0 annual fee in the first year, a 12.99% interest rate for purchases and additional cards for employees.

The ANZ Business Low Rate credit card suits small to medium Australian businesses that want to free up cash flow with a line of credit while minimising interest costs. If you apply and get approved, you’ll get a first-year annual fee waiver (reverts to $100 p.a. thereafter).

You can use the card to manage employee spending with additional cardholders and shop with peace of mind thanks to complimentary insurances.

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Sally McMullen

Last Updated Aug 6, 2021

12.99% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($100 p.a. thereafter)

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Details

Product Name	ANZ Business Low Rate
Balance transfer revert rate	Cash Advance Rate (14.49% p.a.)
Purchase rate p.a.	12.99%
Annual fee	$0 for the first year ($100 thereafter)
Interest-free period
Cash advance rate	14.49% 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 ($100 p.a. thereafter)
A low interest rate of 12.99% p.a. on purchases
Provides Unauthorised Transactions Insurance, which protects your business against misuse of your cards

Cons

There is no interest-free period with this card.
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 for the first year ($100 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

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The ANZ Business Low Rate credit card boasts the bank’s lowest annual fee and purchase interest rate in its business card range. If you regularly carry a balance from month to month, you could minimise your interest costs with the ANZ Business Low Rate compared to some other cards.

Unfortunately, this card doesn’t offer any interest-free days if you do pay your balance in full each statement period. If you often clear your balance each month and want to take advantage of interest-free days, you might want to consider the ANZ Business 55 Interest Free Days credit card instead.

How to apply

You can apply for the ANZ Business Low Rate 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

First year annual fee waiver. Apply for this card and get approved to save with a $0 annual fee in the first year. After the first 12 months, an annual fee of $100 will apply each year on the anniversary of your account opening. Please note that ANZ may withdraw this offer at any time.
Low purchase interest rate. Your purchases will attract a 12.99% p.a. interest rate from the date they are made..

Additional cardholders. You can request additional cards for your employees at no extra cost. You can specify monthly spend caps, transaction limits and merchant category controls for each card.
Track business expenses. Your monthly statements will be sorted by cardholder, simplifying how you review individual and total business credit card expenses. You can also take advantage of data feeds to Xero, MYOB, Intuit Quickbooks Online and more.
Security and purchase protection. Your purchases will be protected from fraudulent transactions by Unauthorised Transaction Insurance for 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 an annual fee of $100 p.a.
Cash advance interest rate. This card charges a low cash advance rate of 14.49% p.a.

Minimum credit limit. You can request a credit limit as low as $1,000.
Worldwide emergency card replacement. If your card is lost or stolen, you can request an emergency card replacement in Australia and around the world.

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