Bendigo Bank Business Credit Mastercard
Better manage your business expenses and save with a low purchase interest rate.
Bendigo Bank’s Business Credit Mastercard offers a 13.99% p.a. interest rate on purchases and you can link additional cards to the account to manage employee spending.
Interest free period
|Product Name||Bendigo Bank Business Credit Mastercard|
|Balance transfer revert rate||Cash Advance Rate (13.99% p.a.)|
|Purchase rate||13.99% p.a.|
|Interest-free period||44 days|
|Cash advance rate||13.99% p.a.|
|Foreign currency conversion fee||3%|
|Available to temporary residents||No|
- Low annual fee of $48 (Monthly fee of $4.00 per card)
- 13.99% p.a. on purchases and cash advances
- Charges a 3% foreign transaction fee
|Minimum monthly repayment||3% of the closing balance or $10, whichever is greater|
|Late payment fee||$15|
|Foreign currency conversion fee||3%|
Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.
Like many business cards, you can request multiple cardholders and set individual credit limits per card. This card charges a lower purchase interest rate than most business credit cards, which could help cut your business costs if you regularly carry a balance from month to month.
How to apply
You can apply for this card by making an online enquiry or requesting to speak to a business specialist through the Bendigo Bank website. You can also visit a Bendigo Bank branch to apply. Make sure that you check the eligibility criteria and have the necessary information before you get started.
- Business details. You'll need to confirm your business name and provide your ABN or ACN.
- Credit criteria. You'll need to confirm that you can meet the credit criteria according to the chosen type of liability arrangement.
- Age. You must be at least 18 years old to apply.
- Business information. Including the relevant contact information and address of the business.
- Finances. You'll need to confirm your business' annual turnover and provide other details such as expenses, assets and liabilities.
- Low purchase rate. With a competitive variable purchase interest rate of 13.99% p.a., your business could save on interest costs if you don't pay your balance in full by the statement due date.
- Additional cardholders. You can easily manage your employees' spending by linking additional cards to the account. You can set up each card with individual credit limits and grant ATM access to particular cardholders.
- Simplified accounting. You can upload your transactions to accounting software such as MYOB. You'll receive a single monthly statement that's broken down by individual cards, making it easier to monitor your business expenses.
- Flexible liability arrangements. You can opt for the right liability arrangement for your needs. Business with company structures can opt for company liability, where Bendigo Bank assesses the business for the credit facility, and the business accepts liability for all transactions. Individual liability is for employees of businesses and sole traders, where Bendigo Bank assesses the individuals in question and they accept liability for all transactions made using their individual cards. Joint and several liability is suited to partnerships, where all partners have to accept joint and several liability for all transactions.
- Personalise your card. You can customise your cards with the business and employee's name. You can also personalise your card with the business branding or logo.
- Card security and management. Use the free Bendigo Bank Protect+Pay app to temporarily block your card if you've misplaced it, block specific types of transactions, update your PIN, check your balance, report a lost or stolen card or cancel the card from your mobile.
Rates & fees
- Annual fee. You'll be charged an annual fee of $48 p.a., charged at $4 per month, per card.
- Cash advances. When the card is used to make cash advances, such as ATM withdrawals, you'll collect the 13.99% p.a. interest rate.
- Interest-free days. You can take advantage of up to 44 interest-free days on purchases.
- Mastercard features. You can use your card at EFTPOS terminals, ATMs and online wherever Mastercard is accepted around the world. You can also use Mastercard PayPass technology to make contactless purchases of under $100. If your card is lost, stolen, damaged or you have an urgent enquiry, you can contact the Mastercard Global Service for assistance.
- Mobile wallets. Link your card to Apple Pay, Samsung Pay and Google Pay to tap and pay using your eligible smartphone or device.