Westpac BusinessChoice Everyday Card review

The Westpac BusinessChoice is an everyday business credit card that offers a range of money saving features and a low annual fee.

The Westpac BusinessChoice Everyday Visa credit card is designed to make managing your work expenses easy and affordable. It has a low standard interest rate and annual fee, up to 45 days interest free and a range of complimentary extras. Find out more about this card and how to apply here.

Product NameWestpac BusinessChoice Everyday Card
Purchase rate (p.a.)14.25% p.a.
Annual fee$75 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 45 days on purchases
Cash advance rate (p.a.)19.96% p.a.
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.
$2,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$100,000
Minimum Monthly Repayment3%
Card TypeVisa
Late Payment Fee$15
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.
3% of transaction value
Complimentary Travel InsuranceYes
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
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.
$2,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$100,000
Annual Fee$75 p.a.
Minimum Repayment3%
Late Payment Fee$15
Over Limit Fee$15
Cash Advance Fee2% of the value of the transaction or minimum charge of $2.50
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
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.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$75 p.a.
Number of Additional Cardholders10
BPAYYes
ChequeYes
Direct DebitYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • This card features a low purchase rate of interest of just 14.25% p.a.
  • The account can be portioned up to four times so that each department within your organisation can have its own card and own budget. From these four segments of the account, you can have up to ten additional card holders on the account.

Cons

  • The interest free period on purchases made on your card is up to 45 days.

Westpac BusinessChoice Everyday Card review

The Westpac BusinessChoice Everyday credit card is a product for small to medium businesses. It is a low fee business cash flow solution that has a standard purchase rate of 14.25% p.a. (variable) and an annual fee of just $75.

It also offers an annual fee waiver, up to 10 additional cards for your employees and a range of other business-focused benefits. While there is no rewards program linked to the Westpac BusinessChoice Everyday credit card, its features provide competitive value for money when compared to other business options.

Benefits of the Westpac BusinessChoice Everyday Card

  • Annual fee waiver. Spend $15,000 or more on a specific card in a year for the annual card fee to be waived on that card in the subsequent year.
  • Complimentary insurance package. The Westpac BusinessChoice comes with three complimentary insurances: transit accident insurance, flight inconvenience insurance and unauthorised transaction insurance.
  • Low purchase rate. Purchases using the Westpac BusinessChoice accrue interest at 14.25% p.a. (variable).
  • Interest free days. If you pay back your account in full by the statement due date, you get up to 45 days interest free on this card.
  • Additional cards. Order up to 10 additional cards linked to this account for your employees. You can customise the credit limit for each additional card, with limits starting from as low as $1,000.

Features of the Westpac BusinessChoice Everyday Card

  • Annual fee. The Westpac BusinessChoice Everyday Card annual fee is $75.
  • Cash advance rate of interest. Cash advance transactions accrue interest at 19.96% p.a.
  • Credit limit. You can choose your account credit limit when you apply for the Westpac Business Choice credit card.
  • BusinessChoice credit card. The minimum credit limit is $2,000 and maximum credit limit is $100,000. The credit limit is shared between all additional cardholders. You can also set individual limits for each additional cardholder.
  • Minimum repayment. If you don’t make the minimum repayment by the statement due date, you’ll incur a late payment fee of $15.
  • Contactless payments. Use the Westpac BusinessChoice to make instant tap and go purchases under $100 at participating merchants.
  • Unauthorised transaction insurance. Get financial compensation to the value of $20,000 per cardholder and $150,000 per account if you’re the victim of credit card fraud.
  • Transit accident insurance. Provides cover for death and injury while riding in a passenger vehicle such as a bus. Benefits are up to $100,000 in value.
  • Flight inconvenience insurance. Covers you for flight delays, lost luggage and missed connections.
  • Online banking. Westpac Internet banking lets you manage your business credit card account online anytime of the day of week. You can manage the credit limits of additional cards, view statements, make payments and see an overview of business spending from your desktop or mobile device.
  • Business reporting. Westpac BusinessChoice transactions and statements can be exported to popular business accounting software (such as MYOB and BAS) for easy tax reporting.

How to apply for the Westpac BusinessChoice Everyday Card

The application for the Westpac BusinessChoice Everyday credit card is hosted on the Westpac website. The process is completely secure and takes less than 20 minutes to complete.

Eligibility criteria

  • Age. You must be 18 or over to apply for the BusinessChoice.
  • Residency. You must be an Australian citizen or permanent Australian resident.
  • Registration. Your business must be registered in Australia.

Required information

As well as your personal and contact information, you’ll need to provide your accountant or financial controller’s contact information.

  • Identification. Westpac needs to verify your identity before your application for the BusinessChoice Everyday card can be completed. You can do this online by entering your passport number, driver’s licence number or proof of age card. You can also complete this step using a combination of non-photographic identification documents.
  • Business information. Make sure you have your ABN, ACN, ARBN or ARSN on hand. You’ll also need to provide your business name and address.
  • Business financials. You will need to include information about your business’s after-tax income for the previous year, as well as assets and liabilities.

The Westpac BusinessChoice Everyday credit card gives you a competitive interest rate on purchases and a suite of complimentary insurances for a low annual fee. For other options, have a look at our business credit card comparison so you can make sure you get the right product for your business’s needs.

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2 Responses

  1. Default Gravatar
    PaulineFebruary 9, 2015

    Can monthly direct debit payments to various service suppliers be setup on a BusinessChoice Everyday Visa Credit Card?

    • Staff
      JonathanFebruary 10, 2015Staff

      Hi Pauline, thanks for your inquiry!

      As long as the merchant/ recipient supports direct transfer payment, direct debit is possible from the BusinessChoice Everyday Card.

      Cheers,

      Jonathan

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