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Hume Business Credit Card Residentially Secured

Amy Bradney-George
Amy Bradney-George
Last updated:  

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

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.

10.1% p.a.

Purchase rate

1

Reward point

Per $ spent

$60 p.a.

Annual fee

55 days

Interest free period

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Details

Product NameHume Business Visa Residentially Secured Credit Card
Rewards programHume Loyalty Program
Purchase rate10.1% p.a.
Annual fee$60
Interest-free period55 days
Cash advance rate19.95% p.a.
Min credit limit$5,000
Card typeVisa
Foreign currency conversion fee2.85%
Available to temporary residentsNo
Joint applicationNo

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
Rewards programHume Loyalty Program
Rewards points per $ spent1
Annual fee$60
Minimum monthly repayment3% of the closing balance or $10, whichever is greater
Late payment fee$20
Foreign currency conversion fee2.85%
Number of additional cardholders9

Expert review

Amy Bradney-George

Review by

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

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.

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 $1 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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