The Bendigo Red Free Days MasterCard is a credit card that is offered by Bendigo bank in conjunction with MasterCard.
The Bendigo Red Free Days MasterCard is a rewards card, and any card holder is automatically enrolled into the rewards program. The rewards program is a points based system with 1 point earned for every dollar spent using the card. After enough points have been built up then the balance of rewards points can be redeemed for rewards.
The Bendigo Red Free Days MasterCard has a number of partners. If money is spent with these partners then there are up to ten points awarded per dollar spent with these partners. There are a number of rewards statements and newsletters that are sent out every three months
The Bendigo Red Free Days MasterCard has a low annual fee at $45, which is quite a bit lower than many other reward cards. However the interest rate is reasonably high for a credit card. The card has an interest free grace period of up to 44 days.
There is no introductory balance transfer offer, and the card has the same interest rate across both balance transfers and purchases. Unlike many credit cards the cash advances are charged at the same rate as purchases. However as the normal interest rate is relatively high then this should not be used as an alternative to a personal loan.
One of the most interesting terms that the credit card has is a tie in with the Bendigo bank mortgage. This means that there is a 3 per cent discount on the credit card interest rate if a mortgage that is run by Bendigo bank is taken out.
Bendigo Bank is the consumer division of the Bendigo and Adelaide bank; an Adelaide based commercial bank with a wide range of commercial interests.
MasterCard is the second largest credit card provider in the world. It is accepted at almost 30 million vendors around the world. If the card is used abroad any transactions will pay in the foreign currency, be billed in Australian dollars and be translated at near market rates, although there may be a foreign transaction charge. There is a zero liability guarantee that stops a card holder being charged for an unauthorised transaction.
The card is good for a credit card user who is used to paying off the balance every month.
