Bank of Melbourne BusinessVantage Visa Credit Card

Get up to 55 interest-free days on purchases and look forward to a competitive interest rate with a BusinessVantage Visa.

The Bank of Melbourne BusinessVantage Visa Credit Card aims to simplify how businesses manage their cash flow and day-to-day expenses. With up to 55 interest-free days on purchases, you can ensure that you don't end up paying interest, and this becomes easy to achieve when you setup an auto payment plan that helps make sure your balances are paid in full each month.

Product NameBank of Melbourne BusinessVantage Visa
Purchase rate (p.a.)9.99% p.a.
Annual fee$55 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.)17.15% 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
Card TypeVisa
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
Minimum Age18 years of age
Available To Temporary ResidentsNo
Annual fee$55 p.a.
Late Payment Fee$15
Cash Advance Fee2% of the cash advance amount (minimum $2.50 and maximum $150)
Foreign Currency Conversion Fee
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
Additional Cardholder Fee$55
Number of Additional Cardholders9

Review of the BusinessVantage Visa Credit Card

As a business you stand to receive detailed statements that give you the ability to track and monitor expenses on individual cards, and you can tailor-make these reports based on parameters like transaction details, entertainment and travel expenses and merchant summaries. The Corporate Mastercard offered by this bank is another credit card that is designed for business customers.

Since this is a Visa credit card, cardholders can use their BusinessVantage Visa cards at over 32-million locations around the world.

This card comes with a minimum credit limit of $1,000, and it offers complimentary insurance against unauthorised transaction charges and fraudulent use. If required, you can use this card to transfer balances from other credit cards.

Benefits of using a Bank of Melbourne BusinessVantage Visa

Up to 55 interest-free days on purchases

  • Use this card for business purchases and don't pay interest. Cardholders can use this card to make everyday business purchases, and you don't have to pay interest on these purchases for up to 55 days. The exact number of days depends on the facility's billing date and the date the purchase was made.
  • Pay entire closing balance. To take advantage of the interest-free days on purchases it is necessary that you pay the account's closing balance in full every month.
  • Automatic payment plan. You don't have to set reminders to make payments each month, because you can set up an automatic payment plan.

Easy account reporting

  • Round-the-clock access. With Bank of Melbourne's online banking platform, you can access just about every kind of account-related information from any computer that has an internet connection and a compatible browser.
  • Detailed statements. Comprehensive statements give you an easy way to keep track of all expenses, and you can seek consolidated summaries for different divisions and departments.
  • Tailor-made reports. This feature allows you to track expenses in accordance to specific parameters. For example, you can find out just how much the business has spent as a whole at any particular merchant, how much was spent on entertainment, monthly travel expenses, and so on.

Visa benefits

  • Emergency assistance. The Visa Emergency Assistance Centre offers all cardholders round-the-clock assistance to deal with different kinds of emergencies.
  • Visa pay Wave. These cards come with Visa pay Wave technology, so cardholders can use their cards for contact less transactions as long as they're paying less than $100, and as long as the merchant in question offers this kind of payment.

Bank of Melbourne BusinessVantage Visa Credit Card features

Before you apply for the Bank of Melbourne BusinessVantage Visa Credit Card, make sure you take the following points into account as well.

  • Annual fee. Each card attracts a standard annual fee of $55.
  • Credit limit. The minimum credit limit per facility is $1,000.
  • Complimentary insurance. This card offers complimentary insurance that protects you from unauthorised transactions and fraudulent use.
  • Foreign transaction fee. A foreign transaction fee of 3% applies on all foreign transactions.
  • Cash advance fee. Cash advance fee stands at 2% of the cash advance amount (minimum $2.50 and maximum $150).
  • Late payment fee. Fee applied for every late payment is $15.
  • Replacement card fee. If you need a replacement card overseas, you have to pay a fee of $52.50.

How to apply for the Bank of Melbourne BusinessVantage Visa Credit Card

Application criteria

Bear in mind that you have to meet the following criteria in order to apply.

  • You should be a permanent resident of Australia
  • You should be at least 18 years of age

Required information

The application process requires you to submit certain information that the bank uses to verify your business' credentials as well as its ability to borrow and repay, so keep the following information close at hand.

  • Contact details of your business
  • An Australian Business Number (ABN), if your business has one
  • If you're a sole proprietor, provide your tax file number
  • List of all authorised signatories
  • Details of pre-tax earnings and turnover
  • Details of assets and liabilities

Businesses looking at streamlining their expenses can consider applying for the Bank of Melbourne BusinessVantage Visa card, but given that other banks offer credit cards for businesses, carrying out a thorough comparison will help you find the best card for your business needs.

Back to top
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

Credit Cards Comparison

Rates last updated May 27th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Westpac Low Rate - Online Offer
13.49% p.a.
0% p.a. for 26 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
NAB Low Fee Card
19.74% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
Citi Platinum Credit Card - 100k Bonus Points
20.99% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
Go to site