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Bank of Melbourne BusinessVantage Credit Card

1 review

Purchase rate

9.99% p.a.

Balance transfer

N/A

Annual fee

$55 p.a.
55% Complete (success)

Pros

9.99% p.a. on purchases

17.15% p.a. on cash advances

$55 annual fee per card

Up to 55 interest free days on purchases

Cons

The annual card fee is charged per card so if you had 10 cards the total annual fee will be a lot higher

Bank of Melbourne BusinessVantage Credit Card

The Bank of Melbourne BusinessVantage Visa credit card has a low 9.99% p.a purchase rate and comes with a $55 annual fee per card.

Key features

  • 9.99% p.a. on purchases
  • 17.15% p.a. on cash advances
  • Annual card fee of $55 per card
  • Up to 55 interest free days on purchases
100% of customers who have rated this card would recommend it
  • Rates
    76%
  • Fees
    46%
  • Rewards
    N/A
  • Customer Service
    53%
  • Value
    47%
Overall user rating 44%
1 reviews
Interest Rates
Purchase rate 9.99% p.a.
Cash advance rate 17.15% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Credit limits
Minimum credit limit N/A
Maximum credit limit N/A
Fees & repayments
Annual fee $55 p.a.
Additional cardholder fee Up to 9 at $55 p.a. per card
Cash advance fee 2%
Foreign transaction fee 3%
Minimum repayment 2%
Late payment fee $15
Credit card type Visa
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No
Extras
Unauthorised transactions insurance

The Bank of Melbourne BusinessVantage Credit Card

Designed to help businesses keep costs low as they access credit, the Bank of Melbourne BusinessVantage Credit Card offers a low rate of interest on purchases, alongside a number of handy business features. Suiting small businesses, the card offers joint and several liability, with up to ten cardholders in total on the account, and detailed statements to track spending.

What we love…

With a low ongoing purchase rate, the Bank of Melbourne BusinessVantage Credit Card is a card that can help small businesses keep interest costs low, while providing access to credit for up to ten cardholders in total. You can set individual limits on each card, and you will receive detailed statements to allow you to monitor and manage your expenses, with optional consolidated summaries by department and division.

Unlike some other business card options that offer personal liability, this card provides joint and several liability, which allows you to share the responsibility within a liability structure to suit your business. And, while it may be a low rate card, it has a number of functional features on offer. As a cardholder, you can take advantage of complimentary insurance, in the form of unauthorised transactions insurance.

In terms of interest, if you carry a balance, you could save on interest with the card’s low purchase rate. Or, if you pay off your balance each month, you can benefit from up to 55 days interest free on purchases. This can help you manage business cash flow more efficiently, using credit where you need it, while paying nothing in interest. To find out more about how this feature works, check out the small print.

What’s not so great…

While the Bank of Melbourne BusinessVantage Credit Card may be a low rate card, it’s worth taking a closer look at the annual fee to make sure it offers value for the way you do business. The annual fee is charged per card, so if you only have a few cards in operation, the cost will remain low. However, if you opt for the maximum ten cards, that total annual cost will be a lot higher.

Whether that fee is worthwhile really comes down to the value this card offers your business. Compare the options, taking into account how much the card could potentially save you in interest, and work out how much you benefit from the tools and other extras it offers.

Why should you choose this card?

Choosing a business card such as the Bank of Melbourne BusinessVantage Credit Card could allow your business to function more effectively. It offers a number of ways to track and control individual cardholder spending, while providing access to credit to those who need it in the business.

If you tend to carry a balance on your business spending, this card could help to keep costs low with its remarkably low purchase rate. By paying less in interest, you could then work on clearing your balance that much faster. Then, you can take advantage of the card’s interest free period to enjoy interest free spending and more manageable day-to-day cash flow.

Overall Rating

Providing access to credit for up to ten cardholders, the Bank of Melbourne BusinessVantage Credit Card can help keep interest costs low, with joint and several liability options available.

(showing the latest 10 Q&As)

  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Australian registered business
  • You have your personal details ready to complete the online application
Bank of Melbourne BusinessVantage Credit Card
Bank of Melbourne BusinessVantage Credit Card

Bank of Melbourne BusinessVantage Credit Card

Updated 8 April 2019

Purchase Rate (p.a)

9.99%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$55

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 9.99% p.a. on purchases
  • 17.15% p.a. on cash advances
  • $55 annual fee per card
  • Up to 55 interest free days on purchases

  • The annual card fee is charged per card so if you had 10 cards the total annual fee will be a lot higher

Creditcard.com.au review

Editor Review

The Bank of Melbourne BusinessVantage Credit Card

Designed to help businesses keep costs low as they access credit, the Bank of Melbourne BusinessVantage Credit Card offers a low rate of interest on purchases, alongside a number of handy business features. Suiting small businesses, the card offers joint and several liability, with up to ten cardholders in total on the account, and detailed statements to track spending.

What we love…

With a low ongoing purchase rate, the Bank of Melbourne BusinessVantage Credit Card is a card that can help small businesses keep interest costs low, while providing access to credit for up to ten cardholders in total. You can set individual limits on each card, and you will receive detailed statements to allow you to monitor and manage your expenses, with optional consolidated summaries by department and division.

Unlike some other business card options that offer personal liability, this card provides joint and several liability, which allows you to share the responsibility within a liability structure to suit your business. And, while it may be a low rate card, it has a number of functional features on offer. As a cardholder, you can take advantage of complimentary insurance, in the form of unauthorised transactions insurance.

In terms of interest, if you carry a balance, you could save on interest with the card’s low purchase rate. Or, if you pay off your balance each month, you can benefit from up to 55 days interest free on purchases. This can help you manage business cash flow more efficiently, using credit where you need it, while paying nothing in interest. To find out more about how this feature works, check out the small print.

What’s not so great…

While the Bank of Melbourne BusinessVantage Credit Card may be a low rate card, it’s worth taking a closer look at the annual fee to make sure it offers value for the way you do business. The annual fee is charged per card, so if you only have a few cards in operation, the cost will remain low. However, if you opt for the maximum ten cards, that total annual cost will be a lot higher.

Whether that fee is worthwhile really comes down to the value this card offers your business. Compare the options, taking into account how much the card could potentially save you in interest, and work out how much you benefit from the tools and other extras it offers.

Why should you choose this card?

Choosing a business card such as the Bank of Melbourne BusinessVantage Credit Card could allow your business to function more effectively. It offers a number of ways to track and control individual cardholder spending, while providing access to credit to those who need it in the business.

If you tend to carry a balance on your business spending, this card could help to keep costs low with its remarkably low purchase rate. By paying less in interest, you could then work on clearing your balance that much faster. Then, you can take advantage of the card’s interest free period to enjoy interest free spending and more manageable day-to-day cash flow.

Overall Rating

Providing access to credit for up to ten cardholders, the Bank of Melbourne BusinessVantage Credit Card can help keep interest costs low, with joint and several liability options available.

User reviews

Bank of Melbourne BusinessVantage Credit Card ( based on 1 Creditcard.com.au user review )

44% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 9.99% p.a.

Cash advance rate 17.15% p.a.

Interest free on purchases up to 55 days

Credit limits

Minimum credit limt N/A

Maximum credit limit N/A

Fees & repayments

Annual fee $55 p.a.

Additional card holder fee Up to 9 at $55 p.a. per card

Foreign transaction fee 3%

Minimum repayment 2%

Cash advance fee 2%

Late payment fee $15

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Extras

Unauthorised transactions insurance

Overview

Bank of Melbourne BusinessVantage Credit Card

The Bank of Melbourne BusinessVantage Visa credit card has a low 9.99% p.a purchase rate and comes with a $55 annual fee per card.

Key features

  • 9.99% p.a. on purchases
  • 17.15% p.a. on cash advances
  • Annual card fee of $55 per card
  • Up to 55 interest free days on purchases

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Australian registered business

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

(showing the latest 10 Q&As)

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