Bendigo Ready Red Credit Card – Rates and Fees

Earn reward points for purchases and balance transfers and enjoy competitive ongoing rates and fees with the Bendigo Ready Red credit card.

The Bendigo Ready Red is a low-cost reward credit card that allows you to earn points on your spending. It offers complimentary membership to the Bendigo Bank Rewards program and earns 1 point per $1 on both purchases and balance transfers. It has the same standard variable interest rate of 19.74% p.a. for purchases, balance transfers and cash advances and offers up to 44 interest-free days on purchases.

Product NameBendigo Bank Ready Red credit card
Rewards ProgramBendigo Bank Reward
Purchase rate (p.a.)19.74% p.a.
Annual fee$45 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.)19.74% 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.
$500
Minimum Monthly Repayment$10 or 3% whichever is greater
Card TypeMasterCard
Late Payment Fee$15
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 InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationYes
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.
$500
Annual Fee$45 p.a.
Minimum Repayment$10 or 3% whichever is greater
Late Payment Fee$15
Over Limit Fee$0
Cash Advance Fee0.50% min. $3.25
Overseas Cash Advance Fee$3.25 or 0.5% of the transaction amount
Overseas Emergency Replacement$100
Overseas ATM Balance check$1.50
Overseas ATM Withdrawal Fee$5
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
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Earn 1 point per $1 spent on purchases and balance transfers.
  • Enjoy up to 44 interest-free days on purchases.
  • Request for an additional cardholder at no extra cost.

Cons

  • This credit card does not offer any introductory rates on purchases and balance transfers.
Rewards ProgramBendigo Bank Reward
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points Expiry36 months

Bendigo Bank Ready Red credit card review

The Bendigo Bank Ready Red is designed to offer competitive access to credit, plus additional value through the bank's rewards program. As well as earning 1 point per $1 spent on purchases, you can earn points on balance transfers at the same rate with no points cap.

This card has a standard variable interest rate of 19.74% p.a. for purchases, balance transfers and cash advances. There are discounted rates available for existing Bendigo Bank residential home loan customers or personal customers who hold Bendigo and Adelaide Bank shares. It also offers up to 44 days interest-free on purchases and has a competitive annual fee of $45.

Benefits of the Bendigo Bank Ready Red credit card

  • Reward points for balance transfers. If you transfer your balance from another bank to the Bendigo Ready Red, you can earn 1 reward point for every $1 of your balance transfer.
  • Reward points for shopping. This card offers a standard earn rate of 1 point per $1 spent. You can also boost your point balance with personalised promotions listed on the Bendigo Bank Rewards website.
  • Interest-free days. This card offers up to 44 days interest-free on your purchases. Unlike most credit card providers, Bendigo Bank applies interest on purchases from the statement date instead of the purchase date. This means you can take advantage of the interest-free period on new purchases even when you have an existing balance.
  • Interest rate discounts. If you're an existing residential-loan customer, you can get a lower standard variable interest rate of 16.74% p.a. If you're a personal customer who has shares for Bendigo or Adelaide Bank, you can get a lower standard variable interest rate of 14.74% p.a.
  • 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 Ready Red credit card

Here are the other key features to consider when you're comparing the Bendigo Bank Ready Red to other options:

  • Annual fee. You will be charged $45 for as long as this card remains open.
  • Interest rate. Your purchases, balance transfers and cash advances will be charged an interest rate of 19.74% p.a. Note that cash advances may also carry additional fees for the transaction.
  • Foreign transaction fee. This card charges a fee of 3% for every transaction made in an international currency.
  • Mastercard features. This credit card gives you access to exclusive travel, shopping, dining and entertainment offers through the Priceless Cities program. It also has PayPass contactless functionality that allows you to simply "tap and go" for in-store payments under $100.
  • Card personalisation. You can customise the image on your card to make it unique to you.
  • Additional cardholder. You can request an additional cardholder at no extra cost, allowing you to share the account and boost your rewards balance. Note that you will still be responsible for keeping the account in good standing.

How to apply for the Bendigo Bank Ready Red credit card

Applying for the Bendigo Bank Ready Red is easy and can be done online in around 20 minutes. Before you apply, make sure you meet the application criteria and have all the relevant information and supporting documentation on hand.

Eligibility criteria

  • Age. You must be over 18 years of age.
  • Residency. You must be an Australian citizen or permanent residents.
  • Credit history. Your credit history must be free of any defaults, bankruptcies and court judgments.

Required documents

  • Personal information. This includes your full name, date of birth, residential address, email address, contact number and relationship status. You'll also be asked to verify your identity by providing details such as your driver's license number and expiration date.
  • Employment details. The details of your employment, including your position, your employer's contact information and your salary.
  • Financial information. Such as any additional income you receive from outside sources (such as investments or shares), as well as assets such as savings. You'll also be required to provide details of existing debts and financial responsibilities such as household bills and expenses.

The Bendigo Bank Ready Red is an entry-level reward credit card that offers an earn rate of 1 point per $1 spent and has a reasonable annual fee of $45. As this is not the only rewards card available, make sure you compare it to a range of other options so that you can find a card that is right for you.

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

Ask a Question

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

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

4 Responses to Bendigo Ready Red Credit Card – Rates and Fees

  1. Default Gravatar
    Cheryl | January 20, 2017

    Does Bendigo do balance Transfers

    • Staff
      Anndy | January 20, 2017

      Hi Cheryl,

      Thanks for your question.

      Yes, you can transfer your credit card balance to Bendigo Ready Red Credit Card and even earn points on the transfer. However, you’ll incur interest on the transferred amount at 19.74% p.a.

      If you want to check credit cards with 0% balance transfer rate, please refer to this page.

      Cheers,
      Anndy

  2. Default Gravatar
    wendy | December 29, 2016

    Does it matter when u are on a disability pension and also get income protection every month?

    • Staff
      May | December 29, 2016

      Hi Wendy,

      Thanks for your question.

      If you are asking for the eligibility criteria for the Bendigo Bank Ready Red Credit Card, you must have a regular salary-paying job. Since you are on a pension, you may check on this page which bank or credit card issuer that may accept your application. You can also contact the bank directly to confirm your approval before you apply for their issued credit card.

      Hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated June 26th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent in the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 20 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 20 months with 2% balance transfer fee $90 p.a. Go to site More info

* 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
feedback