In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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Hume Business Credit Card Residentially Secured

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Hume Business Visa Residentially Secured Credit Card
Terms and conditions apply
Purchase rate
10.1% p.a.
Reward point per $ spent
1
Annual fee
$60 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

Get a low interest rate of 10.1% for business purchases and additional cards for employees.

The Hume Business Visa Residentially Secured credit card gives you a way to save on interest charges, with the lowest rate of any Hume Business Visa credit account. However, it does require you to use a residential property as collateral, so think carefully about whether this option will work for you.

Pros

  • You can have your annual fee waived if the card spend on your account the previous year exceeds $24,000.
  • This card offers a low purchase interest rate of 10.1% p.a.
  • You can request up to 9 cardholders.

Cons

  • Charges a 2.85% foreign transaction fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

This Hume Business Visa credit card offers a competitive interest rate when you secure the account against a residential property. It has a $60 p.a. annual fee and offers up to 9 additional cards for employee.

Details

Product details

Product Name Hume Business Visa Residentially Secured Credit Card
Purchase rate p.a. 10.1%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 19.95%
Min credit limit $5,000
Card type Visa

Eligibility

Available to temporary residents No
Joint application No

Rewards

Rewards program Hume Loyalty Program
Bonus points N/A
Rewards points per $ spent 1

Fees

Annual fee $60
Minimum monthly repayment 3% of the closing balance or $10, whichever is greater
Late payment fee $20
Foreign currency conversion fee 2.85%
Number of additional cardholders 9

How to apply

You can apply for the Hume Business Visa Residentially Secured credit card by visiting a branch. Alternatively, you can call 1300 004 863 or submit an online enquiry form and have a Hume Bank representative call you back to discuss your application.

As part of the application process, you will also need to meet the following eligibility criteria and provide the documents and details listed below.

Eligibility criteria

  • Business details. You must be the business owner, director or a partner to apply for this card. You will also need a valid ABN and/or other official business details.
  • Hume Bank membership. You must be a member of Hume Bank to apply for this card or to get an additional card.

Card benefits

  • Low interest rate. Get a 10.1% p.a. interest rate on business purchases made with the Hume Business Visa Residentially Secured credit card.
  • Loyalty program. Collect 1 point per $1 spent on eligible purchases, with every 500 points equal to cashback. This is equivalent to a 0.2% cashback rate.

Rates & fees

  • Annual fee. This account has a $60 p.a. annual fee, which is charged when you open the account and then each year on the anniversary of that date (unless you meet the annual fee waiver requirements).
  • Cash advance rate. An interest rate of 19.95% p.a. applies for cash advance transactions. As these transactions are not eligible for interest-free days, interest will accrue from the date a cash advance transaction is added to your account balance.

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Amy Finder

Editor

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