Heritage Bank Business Visa Credit Card – Rates & Fees

Information verified correct on December 9th, 2016

Get an affordable and flexible business credit card facility for you and your employees with the Heritage Bank Business Visa credit card.

The Heritage Bank Business Visa credit card is designed to make business operations easier for entrepreneurs and their employees. The card is issued to employers and their employees to enable them to take care of business expenses, such as fuel and accommodation, without having to carry petty cash or cheques.

With a competitive interest rate, simplified features and the option to get multiple cards, the Heritage Bank Business Visa credit card can change the way you manage business expenses and give you more control over your employees' expenditure and business funds.

Product NameHeritage Bank Business Visa Secured Credit Card
Purchase rate (p.a.)10.65% p.a.
Annual fee$35 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 40 days on purchases
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.
$1,000
Minimum Monthly Repayment3% or $30.00 whichever is the greater
Card TypeVisa
Late Payment Fee$20
Foreign Currency Conversion Fee (VISA)
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.
2.5% of transaction value
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Joint ApplicationNo
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.
$1,000
Annual Fee$35 p.a.
Minimum Repayment3% or $30.00 whichever is the greater
Late Payment Fee$20
Over Limit Fee$20
Cash Advance Fee$2.50
Overseas Cash Advance Fee$5.00 (plus overseas currency conversion service fee)
Overseas Emergency Replacement$200
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)
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.
2.5% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$7.50 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Heritage Bank Business Visa Credit Card Review

The Heritage Bank Business Visa credit card can be a useful tool in the management of business expenses. The card provides business owners to a credit card facility and can be issued to multiple employees, helping them conveniently take care of their business expenses and access cash advances from inside Australia and abroad. This card features a competitive annual fee of $35 per issued card with individual limits available for each card, interest free period of 40 days on purchases and a low interest rate of 10.65% p.a.

Benefits of the Heritage Bank Business Visa Credit Card

  • Affordable repayments - The minimum repayment on this card is 3% or $30 whichever is the greater.
  • Control over expenditures - Business owners have the option to order multiple cards (available to business principals and their employees) and set the limit on each card individually, thus ensuring that they maintain control over business expenditure. The minimum credit limit is $1,000.
  • Interest Rate - Receive a low interest rate of 10.65% p.a. and up to 40 days interest free on purchases.
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Features of the Heritage Bank Business Visa Credit Card

  • Annual Fee -  This card carries a competitive annual fee of $35 per issued card.
  • Cash Advances - Business owners and their employees can access cash advances at Heritage ATMS across Australia and over 2,900 Network ATMs nationwide. Cash advance fees are $2.50 within Australia.
  • Purchase Rate - Receive a low interest rate of 10.65% p.a.
  • Interest Free Period -  Get up to 40 days interest free on purchases (available on purchases only if the full balance is paid before the interest free period expires)
  • Affordable repayments - The minimum repayment on this card is 3% or $30 whichever is the greater.
  • Control over expenditures - Business owners have the option to order multiple cards and set the limit on each card individually, thus ensuring that they maintain control over business expenditure.
  • ATM access available - You can withdraw cash from your credit card from domestic and international ATMs at rate of $5.00 (plus overseas currency conversion service fee) outside Australia.
  • Replacement Card Convenience - The bank offers one free card replacement for every account annually. Subsequent card replacement cost $10 and emergency replacements are also available. Overseas emergency replacement is also available for a fee of $200
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How to apply for the Heritage Bank Business Visa Credit Card

You will be asked to supply the following information to ensure that you and your business are eligible for this card:

  • Position - All applicants must either be a business owner, director or partner.
  • Residency - Only permanent residents and citizens of Australia will be accepted for this business credit card.

If you meet the eligibility requirements, continue ahead with the application having the following documentation ready:

  • Business details - Your business name and address as well as any trading name plus a valid ABN will be needed.
  • Income - Your personal income and liability details will also be required in the application.
  • Identification - You must have at least two forms of valid ID. They can include a passport, driver’s license or ID, Australian birth certificate or marriage license.
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