- Low standard purchase rate
- Low annual fee
- Control cardholder spending by setting a spending cap
- Company Liability and Transit Accident Insurance
Pros
Low standard purchase rate
Low annual fee
Control cardholder spending by setting a spending cap
Company Liability and Transit Accident Insurance
Cons
No interest free days
100% of customers who have rated this card would recommend it
| Interest Rates | |
| Purchase rate | 12.99% p.a. |
| Cash advance rate | 14.49% p.a. |
| Interest free on purchases | up to 0 days |
| Balance Transfer | |
| Credit limits | |
| Minimum credit limit | $1,000 |
| Maximum credit limit | N/A |
| Fees & repayments | |
| Annual fee | $100 p.a. |
| Additional cardholder fee | $0 p.a. |
| Cash advance fee | 2% |
| Foreign transaction fee | 2.5% |
| Minimum repayment | 2% |
| Late payment fee | $35 |
| Credit card type | Visa |
| Complimentary insurance | |
| Flight inconvenience insurance | No |
| Transport accident cover | Yes |
| Smartphone screen insurance | No |
| Purchase protection insurance | No |
| Extended warranty insurance | No |
| Rental vehicle excess cover | No |
| Extras | |
| Unauthorised Transactions Insurance |
ANZ Business Low Rate
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.
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 annual fee. 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. 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.
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ANZ Business Low Rate
The ANZ Business Low Rate is a simple, low fuss option for business owners. There’s a low ongoing purchase rate of 12.99% p.a. and a low $100 annual fee. You have the ability to assign different spending limits to individual cardholders. This card also comes with relevant insurances and one convenient, simple statement showing all fees, charges and payments sorted by cardholder so that each can be easily assigned. One thing to remember is that there are no interest free days with this card, as with many business credit cards.
Key features
- Set a monthly cap for each cardholder to match your budget. You can choose to restrict cash access on some or all cards depending on your requirements.
- ANZ Falcon Security
- A low purchase rate of 12.99% p.a. and low cash advance rate of 14.49% p.a.
- $100 annual fee
- Unauthorised Transactions Insurance protects your business against fraudulent misuse for up to $37,500 per cardholder, and $200,000 per annum for the total card facility
- Cardholder Transit accident insurance to cover the cardholder, their spouse and/or children in case a covered accident occurs
- Be over 18 years old
- Good credit and not applied for multiple credit cards recently
- Permanent Australian resident or non-permanent resident with more than 9 months remaining on your Visa
- You have your personal details ready to complete the online application
Vicky
18 February 2018Roland
19 February 2018