- 11.99% p.a. ongoing rate for purchases, balance transfers, and cash advances
- Up to 55 days interest free on purchases
- Add up to three additional cardholders for free
- Personalise cards with business name at no extra cost
- Accepted at millions of merchants worldwide
- Consolidate each cardholder's spend into one account and one monthly payment
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Bankwest Credit Cards
Discontinued: Bankwest Low Rate Business Mastercard
Updated 10 November 2023
This card is no longer available for application. This information has been left for those who still have the card or were previously interested
Designed for small startups, Bankwest Low Rate Business Mastercard offers low ongoing rate at 11.99% p.a. on purchases, balance transfers and cash advances. Add up to 3 additional cardholders plus personalise your cards with your business name, both perks at no extra cost.
Purchase Rate (p.a)
11.99%
Balance Transfer (p.a)
11.99%
Annual Fee (p.a)
$99
Pros and cons
- Annual fee of $99
Creditcard.com.au review
Editor Review
Discontinued: Bankwest Low Rate Business Mastercard
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 Bankwest Low Rate Business Mastercard
Sometimes all you need is the basics. When it comes to business credit cards, flashy features can seem nice enough, but if you don’t need them – and don’t particularly want to pay for them – then there’s not much point choosing a card that offers them.
Offering just the basics, the Bankwest Low Rate Business Mastercard keeps it nice and simple. Cardholders can benefit from a low ongoing purchase rate, plus a handful of extras that are sure to come in handy.
What we love...
If you do clear your balance each statement period, you could take advantage of the card’s offer of up to 55 days interest free on purchases. Helping you to extend your business cashflow, this could allow you to make larger purchases, with longer to pay them off before interest starts accruing.
Another money-saving aspect on the Bankwest Low Rate Business Mastercard is its relatively low annual fee. Allowing you to keep costs down, the annual fee on this card is only $99. While it’s not the lowest annual fee on the market, the card does offer value in its low rate and extras on offer.
What’s not so great...
As a low rate business card, the Bankwest Low Rate Business Mastercard doesn’t give us much to grouse about. It basically does what it says will, offering business owners the opportunity to access credit at a low cost, with a few nice features thrown into the bargain.
If you’re looking for a business card with loads of features and extras, with travel perks and complimentary insurances, or if you want to want to earn rewards on your business spending, then you’re looking in the wrong place.
This card is low cost and low frills, and that’s all there is to it.
Why should you choose this card?
As we’ve mentioned, the main reason to choose this card is for its money-saving abilities and its handy features. With that in mind, let’s find out a bit more about the features on offer.
Providing convenient cardholder management, the Bankwest Low Rate Business Mastercard allows you to add up to three additional cardholders, with each cardholder’s spend consolidated into one account and one payment.
Credit limits on offer range from $2,000 to $50,000, and while it may not be a deal-breaker, you can also choose to personalise your cards with your business name at no extra cost.
Overall Rating
A low cost business card offering just the essentials.
User reviews
Rates and fees
Interest rates
Purchase rate 11.99% p.a.
Cash advance rate 11.99% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 11.99% p.a. for 99 months
Balance transfer revert rate 11.99% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit 95% of approved credit limit
Brands you can't balance transfer from Bankwest
Credit limits
Minimum credit limit $2,000
Maximum credit limit $50,000
Fees & repayments
Annual fee $99 p.a.
Additional cardholder fee Up to 3 at no extra cost
Foreign transaction fee 2.95%
Minimum repayment 2% or $20 (whichever is greater; closing balance applies if less than $20)
Cash advance fee 3% or $4 (whichever is greater)
Late payment fee $35
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Overview
Discontinued: Bankwest Low Rate Business Mastercard
The Bankwest Business Low Rate Credit Card has the same rate of 11.99% p.a. on purchases, balance transfers, and cash advances. The annual fee is $99 and you can add up to three additional cardholders.
Key features
- 11.99% p.a. ongoing rate for purchases, balance transfers, and cash advances
- Annual fee of $99
- Up to 55 days interest free on purchases
- Add up to three additional cardholders for free
- Personalise cards with business name at no extra cost
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Operate as a sole proprietor or director of a small business
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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