Update your filters to get more cards to display. Reach out if you are having any problems.
Looking for a credit card provider with a good bit of history behind it? Bendigo Bank could be right up your street. With origins that date back more than 150 years, Bendigo Bank has been around the block more than a few times. But what has it learned along the way?
So, Bendigo Bank believes in community. But does that positive thinking trickle down to its financial products? Offering everything from loans and insurance, to bank accounts and credit cards, Bendigo Bank has a pretty decent selection of products to choose from. When it comes to credit cards, it’s simply a matter of comparing what’s on offer to find out if any of them are good for you.
First off the blocks is the Bendigo Bank Low Rate Credit Card. This is Bendigo Bank’s version of a low rate, low fee card. So, what does Low Rate have to offer – and who is it good for?
A low rate credit card is one that charges a low rate of interest. A low fee card is one that charges a low annual fee. Some low rate cards have high annual fees, while some low fee cards have high interest rates. Luckily for us, Bendigo Bank Low Rate offers both low rates and low fees.
A low rate, low fee card is perfect for anyone looking to save money. With a low annual fee, you are paying less per year to keep the card, whether you use it or not. With a low purchase rate, you will pay less in interest on any unpaid balance.
Cards with low annual fees can be great for cardholders who don’t use their card that often. Day-to-day they may use cash or debit cards. However, a credit card can be good to have in case of an emergency.
Something big comes up and you don’t have the cash to cover it? You could pay with your emergency card. In the meantime though, before that emergency pops up, you’re not paying heaps in annual fees to keep the card in your wallet.
Meanwhile, cards with a low purchase rate can be the best solution for cardholders who have a revolving balance on their card. What is a revolving balance? Someone with a revolving balance may use their card each month, and then pay off some of what they owe. But the balance is never fully paid off. Some in, some out, revolving.
On the other hand, some cardholders simply have a large credit card debt that they can’t pay off. In both of these cases, it can be a good idea to choose a card with the lowest possible interest rate. This can help save money on interest, allowing the cardholder to pay off their debt faster.
Another good use for a low rate card can be as a first credit card. Ready for a credit card but not sure if you might mess up? Even if you spend a little too much getting used to your credit card, a low rate card has your back. Instead of paying up 23% p.a. on your unpaid balance on some cards, the interest on a low rate card can be much more manageable.
Some people just love getting something extra as they spend. For those people, a rewards credit card can be the ideal option. A rewards card allows cardholders to earn points for their credit card spending. Those points can then be redeemed for merchandise, flights or cashback.
Bendigo Bank has a couple of rewards card options on the table. Its ‘value’ option is the Bendigo Bank Platinum Rewards Credit Card, and its Qantas points option is the Bendigo Bank Qantas Platinum Credit Card. Which one is for you? Before choosing a rewards card – any rewards card – there are a few things you should know.
Rewards cards don’t work for everyone. Or at least, some rewards cards are better suited to certain types of cardholders. Before applying for a rewards card, first think about how much you will be paying out.
Rewards cards usually have a higher rate of interest. That means, if you retain a balance, the amount you pay in interest could quite possibly be more than whatever get back on your rewards. For rewards cards to work, you need to pay off your balance each month. Simple as that.
It’s also a good idea to look at how much you are paying in annual fees. Again, rewards cards can charge higher annual fees. Ensure the value of the rewards you receive is higher than the amount you pay out in annual fees to make it work for you.
That’s one reason why rewards cards often suit big spenders. Because they are earning big on points, they can earn more in return. They still pay the same annual fee, but they are getting more back on their rewards program.
Sure that rewards cards are for you? Then it’s time to find the right one. After looking at how much each card will cost, you now need to look at what each one has to offer. That means comparing the points-earning potential.
Each rewards card allows you to earn points on your spending. The key is to find the card that rewards you most for the spending you do most. Some cards will offer 1 point per $1 spent, some will offer 2 points per $1 spent. Some will offer more points for spending in certain stores.
Then look at what each point is worth. What value does it have when it is redeemed? Be sure to choose the card that offers the best value – on items that you actually want.
The Bendigo Platinum Rewards Credit Card is the bank’s prestige rewards card. Yes, this means paying a much higher annual fee – but it also means getting back a bit more in return. Cardholders get free membership to Be Rewarded, but they also earn more points as they spend.
For standard spending, cardholders can earn 1.5 points per $1 spent. For spending at Bendigo Bank’s bonus partner stores, again it’s up to 5 points per $1 spent. You can also earn 1 point per $1 on balance transfers. It’s also worth checking out any intro offers, as there are often bonus sign-up points on the table.
Other platinum perks include complimentary overseas travel insurance, up to 55 days interest free on purchases, and one additional cardholder free of charge.
Business credit cards can offer an easy way to keep track of business spending. And of course, they can also help with cash flow as well. Bendigo Bank offers the Bendigo Bank Business Credit Mastercard as its no frills business card.
It has a low annual fee and a low ongoing purchase rate. It offers up to 44 days interest free on purchases, when the balance is paid in full each statement period. As a business card, it also offers up to 99 additional cardholders. But, be aware that there is a $4 monthly fee per card.
While we’ve been talking about ‘Bendigo Bank’, it actually has a more official title. After the merger of the Bendigo Bank and Adelaide Bank in 2007, the bank became officially known as the Bendigo and Adelaide Bank Limited.
Both banks started off as building societies, helping Australians to become homeowners. Now merged, the bank is a top 60 ASX listed company, owned by more than 90,000 shareholders. It has 6,500 employees serving 1.5 million customers in more than 500 communities across Australia.
Alongside its credit cards, Bendigo Bank provides a whole heap of other products, offering its customers a wide range of options to choose from. Is Bendigo Bank right for you though? Now you know more about the credit cards on offer, why not find out what Bendigo Bank is doing in your community?
Impressed? Compare the credit card options on offer from Bendigo Bank today.
Something you need to know? Ask a our credit card expert a question.Ask a question