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Our verdict

Manage your business spending with up to 55 days interest-free on purchases and additional cards for employees.

The Hume Business Visa Unsecured credit card gives you low-cost access to credit for your business. Unlike the other Hume Bank business credit card options, you won’t need to use a residential or commercial asset as security for the account – similar to most other cards, it is unsecured.

With this card, you have the option of adding up to 9 additional cardholders, which could help you keep track of expenses for both you and your employees. You also get access to a rewards program that offers the equivalent to 0.2% cashback on purchases.

Pros

Has a competitive interest rate of 13.6% p.a. on purchases.
You can get up to 9 additional cardholders.
You can get up to 55 days interest-free on purchases.

Cons

Does not offer 0% introductory rates unlike other cards.

The Hume Business Visa Unsecured credit card offers a competitive 13.6% p.a. interest rate for purchases and a $60 annual fee. You can also get an annual fee waiver if you spend at least $24,000 in the previous year.

Details

Product details

Product Name	Hume Business Visa Unsecured Credit Card
Purchase rate p.a.	13.6%
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 Unsecured credit card by visiting a branch, calling 1300 004 863 or submitting an online enquiry form.

As part of the application process, make sure you meet the following eligibility criteria and have all 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.

Residency. You must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This covers your full name, date of birth, email address, phone number, residential address, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver's licence number.
Business details. This includes your ABN or other relevant business registration details, your business name, location and contact details as well as financial records. You may also need to provide details of your accountant.

Card benefits

Annual fee waiver. You can get the $60 annual fee waived for this account if you have spent $24,000 on purchases in the previous card year.
Loyalty program. Collect 1 point per $1 spent on eligible purchases, with every 500 points equal to $1 cashback. This is equivalent to a 0.2% cashback rate.

Interest-free days. If you pay the full closing balance on your account statement by the relevant due date, you can get up to 55 days interest-free on purchases.
Additional cardholders. Get up to 9 additional cards for employees, with the option of setting spending limits for each one. Note that any additional cardholders you add to this account must be members of Hume Bank.
Mobile wallets. Enjoy the convenience of making contactless payments using your eligible device by linking your card to an Apple Pay or Google Pay wallet.

Rates & fees

Purchase rate. This card offers an interest rate of 13.6% p.a. for purchases, which is competitive among business credit cards.
Annual fee. This account has a standard $60 annual fee, which is charged when you open the account and then each year on the anniversary of that date.

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.
Currency conversion fee. A fee of 2.85% applies for transactions made overseas or online in a foreign currency.

Sources

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Hume Business Visa Unsecured Credit Card

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Required documents

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