ANZ Business Low Rate

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt Ask Pauline a Question about this card.

The ANZ Business Low Rate Card

With the ANZ Business Low Rate Card you could save on your business spending with ANZ’s lowest ongoing purchase rate and $0 annual fee in the first year. Keeping things simple, this is an easy card to get your head around, plus you can enjoy several handy business tools and features, including unauthorised transactions insurance, transit accident insurance, spend tracking and control over individual cardholder spending.

What we love...

When you see ‘low rate’ in the name of a credit card, you know it focuses on providing low rates of interest to cardholders. This is exactly the case with the ANZ Business Low Rate Card, as it offers ANZ’s lowest ongoing interest rate, with a nice low rate on both purchases and cash advances. So, if you’re trying to keep business costs low while managing your cash flow, this card could help.

Offering further money-saving, the card also has a relatively low annual fee. In fact, it is ANZ’s lowest annual fee business card. Currently, it offers a $0 annual fee in the first year when you apply for a new card and get approved by 31 March 2022, saving you $100.

If you want to add additional cardholders to the account, you can do so at no extra cost. With some business cards charging high annual fees on both the primary and additional cardholders, this could save some serious money.

What’s also nice to see on this card is that its features don’t stop at low rates and low fees. While its extras may not be extravagant, and while it may not offer rewards on business spending, the card has a few handy features up its sleeve. These start with complimentary insurance covers.

As a cardholder, you can protect your business against card misuse with unauthorised transactions insurance. This protects against fraudulent misuse for up to $37,500 per cardholder, up to a $200,000 maximum for the total account within any 12 month period. You can also benefit from transit accident insurance, which covers certain injuries and loss of life sustained on a trip purchased with your card.

As for business tools, the card makes it easy to track and control cardholder spending with simple monthly statements with transactions sorted by cardholder, plus the ability to set monthly spending caps, transaction limits and merchant category controls for each cardholder. Accounting is also made easier with data feeds to Xero, MYOB, Intuit QuickBooks Online and many others.

What’s not so great...

What you may notice on the ANZ Business Low Rate Card is its lack of interest free days. While many credit cards offer a certain number of interest free days on purchases to cardholders who clear their balance month-to-month, this card does not. With 0 days interest free, you will pay interest on all purchases from the day you make them.

While the card certainly offers a low interest rate, interest charges will still stack up if you wait too long to pay them off. You may choose to keep interest costs to a minimum by paying off your balance within the month, not just on the due date at the end of the statement period.

Why should you choose this card?

If you tend to carry a balance on your card, the ANZ Business Low Rate Card could help you save on interest with its low ongoing rate. However, if you generally clear your balance each month, a business card with interest free days on purchases may be worth looking into. However, this card does offer a further opportunity to save, with a relatively low annual fee.

As a name we all know and recognise, ANZ can offer cardholders a lot simply because of its size. As a cardholder, you can benefit from fraud protection with ANZ Falcon and the ANZ Fraud Money Back Guarantee. If you happen to lose your card or have it stolen, you can also benefit from worldwide emergency credit card replacement should you need it.

For the creative types, there is the opportunity to design your own ANZ business credit card with ANZ Design My Card. Allowing you to show off your business whenever you hand over your card, this feature lets you personalise your card with an image of your choice at no extra cost.

Overall Rating

Providing a way for cardholders who tend to carry a balance to save on interest, the ANZ Business Low Rate Card has ANZ’s lowest ongoing interest rate and annual fee, with functional extras such as insurance and business tools thrown into the mix.