Get better control over financial management, promote your business by personalising your credit card and get a low interest rate on purchases.
Bendigo Bank’s Business Credit Mastercard offers a 13.99% p.a. interest rate on purchases, and it comes with both the business name and the individual name embossed on the card.
You can get multiple cards linked to a primary account and you have the ability to allocate different limits to each card. You also get multiple liability options from which to choose.
|Product Name||Bendigo Bank Business Credit Mastercard|
|Purchase rate (p.a.)||13.99% p.a.|
|Annual fee||$48 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 44 days on purchases|
|Cash advance rate (p.a.)||13.99% p.a.|
|Foreign Currency Conversion Fee (MC)|
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 Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$48 p.a.|
|Minimum Monthly Repayment||3% or $10, whichever is greater|
|Late Payment Fee||$15|
|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.
Bendigo Bank Business Credit Mastercard review
Businesses looking at streamlining their expenses can benefit by getting the Bendigo Bank Business Credit Mastercard that allows multiple cardholders under a single umbrella. As the primary account holder, you can assign individual spending limits, and you get a consolidated statement as well as itemised addendums.
Benefits of Bendigo Bank Business Credit Mastercard
- Low purchase rate. If you don’t plan to pay the account’s balance in full each month, you can benefit from this card’s low ongoing rate of 13.99% p.a.
- Increased financial control. In addition to being able to assign individual credit limits, you have the ability to grant ATM access to particular cardholders. You get consolidated statements that detail all transactions, and you also get itemised addendums for every cardholder. Uploading transactional details to accounting software like MYOB is also easy.
- Flexible liability arrangements. 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 they make using their individual cards. Joint and several liability comes into play with partnerships, where all partners have to accept joint and several liability for all transactions.
- Personalise your card. This service gives you the ability to promote your card every time a cardholder uses it, and apart from the embossed name of your business, you can get your card to carry your business logo or any other image that represents it best.
- Card Security. You can download the free Bendigo Bank Protect+Pay app, which allows you 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.
Features of the Bendigo Bank Business Credit Mastercard
- Monthly fee. You have to pay a nominal monthly fee of $4 for each card.
- Global access to funds. Owing to the Mastercard affiliation, cardholders can use their cards just about anywhere in the world, at EFTPOS terminals and at ATMs. They can also use their cards for online and phone transactions.
- Mastercard Global Service. Cardholders can access emergency services the world over using the Mastercard Global Service.
- Mastercard PayPass. The Business Credit Mastercard makes use of PayPass technology, and this allows cardholders to make contactless purchases of under $100 at any merchant that displays the PayPass sign.
How to apply for the Bendigo Bank Business Credit Mastercard
You can apply for the Bendigo Bank Business Credit Mastercard by visiting any Bendigo Bank branch, or you can initiate the process over the phone. Bear in mind you have to meet certain eligibility criteria, which are as follows:
- The registration of your business is in Australia
- Applicants meet required credit criteria according to the chosen type of liability arrangement
- Registration details of your business
- Name, phone number and address of your business
- Your business' financial details
The Business Credit Mastercard gives you an easy way of monitoring and regulating business expenses, but given that other business credit cards offer similar features, it’s best that you compare a few before applying.Back to top