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Our verdict

Manage your business cash flow with a 12.95% p.a. interest rate and additional cards for employees.

The Heritage Bank Business Visa credit card gives you a way to keep track of business spending, with multiple cards for employees, individual spending limits and integration with MYOB, Reckon and Xero accounting software.

It offers a minimum credit limit of $1,000 for the account and allows you to set individual limits for additional cards, starting from $500. This can help you keep track of employee spending while also simplifying expense-reporting processes. But if you have a lot of employees, the $45 annual fee per card could quickly add up – making it important to compare a range of business options.

Pros

12.95% p.a. interest rate on purchases
Up to 40 days interest-free on purchases
Multiple cards are issued under one overall approved limit and each card has an individual spend limit
One free replacement card per year

Cons

Charges 3% for transactions performed in a currency other than Australian Dollar
$45 annual fee per card

The Heritage Bank Business Visa credit card offers up to 40 days interest-free on purchases and has an annual fee of $45 per card.

It also gives you a way to set individual monthly spending limits for any employees you add as additional cardholders.

Details

Product details

Product Name	Heritage Bank Business Visa Credit Card
Purchase rate p.a.	12.95%
Interest-free period	Up to 40 days on purchases
Cash advance rate p.a.	12.95%
Min credit limit	$1,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$45
Minimum monthly repayment	3% of the closing balance or $30, whichever is greater
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
Overseas cash advance fee	2% of the withdrawal amount (minimum fee of $2.50)
Overseas ATM withdrawal fee	$5

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Well done, Heritage Bank!

The Heritage Bank Business Visa Credit Card has been recognised as a finalist in this category for the second year in a row, after also being highly commended in 2023. This year, it scored well for its 12.95% purchase rate, $45 annual fee and up to 40 days interest-free. While not factored into the scoring, it also offers data feeds with MYOB, Xero or Reckon.

Full list of 2024 winners

How to apply

You can apply for a Heritage Bank Business Visa credit card by visiting a branch or by phoning 1300 272 197. You can also request a call by filling in the contact form on the Heritage Bank website.

As part of the application process, you will be asked to supply the following information to ensure that you and your business are eligible for this card:

Eligibility criteria

Business requirements. You must be the business owner, director or partner to apply for this card. You will also need to provide a valid ABN or other business registration details.
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 includes your full name, position in the business, 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.
Personal financial details. As the business owner or executive, you may be asked for some basic personal financial details, such as your income, existing assets, liabilities, debts and regular expenses.
Business details. This includes your business name, any relevant trading names, as well as your ABN and financial details. You may also need to provide contact details for your accountant and recent GST or tax assessment notices.

Card benefits

Accounting software integration. You can add this account to your MYOB, Xero or Reckon bank feed to help speed up reconciliations and other accounting tasks.
Cards for employees. If you want to share this account with employees, you can request additional cards and set separate spending limits for each one. Note that the spending limits must be within the account's overall approved limit and each card has an annual fee of .

Interest-free days on purchases. This card offers up to 40 days interest-free on purchases if you pay the full closing balance listed on your statement by the applicable due date. Note that interest-free days do not apply for cash advance transactions.
One free card replacement per year. If you or an employee loses a card that's linked to this account, you can get one replacement per year free of charge. Any subsequent replacements attract a fee of $10 per card.

Rates & fees

Annual fee. This account has an annual fee of $45 per card.
Purchase rate. The 12.95% p.a. interest rate on this card is competitive with other business credit card options.

Cash advances. If you use this card to withdraw cash or make any other cash advance transactions, you'll be charged interest at a rate of 12.95% p.a. from the date of the transaction. A cash advance fee of 2% (minimum $2.50) also applies.
Currency conversion fee. A fee of 3% applies to transactions made overseas or online in a foreign currency.

Heritage Bank Business Visa Credit Card information PDF

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Heritage Bank Business Visa Credit Card

Pros

Cons

Well done, Heritage Bank!

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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