Heritage Bank Business Visa Credit Card

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 Heritage Bank Business Visa Credit Card

The Heritage Bank Business Visa Credit Card is a classic business card, offering up to 40 days interest free on purchases and a reasonable annual fee. With a secured or unsecured option on offer, accountholders can benefit from a lower interest rate by securing their card against some form of collateral.

What we love...

Unlike many of the business cards we see, Heritage Bank allows for both secured and unsecured cardholders to enjoy access to credit for their business spending. According to Heritage Bank, this card is available with or without security, subject to credit amounts and lending criteria. While there are pros and cons to both options, it is worth noting that a secured card offers a lower interest rate than an unsecured card.

This could make it a worthy option for accountholders who may carry a balance, as it would mean their balance accrues interest at a slower pace. However, if you manage to clear your balance each month, this card will reward you with up to 40 days interest free on your purchases. This can make the card an excellent business tool, working to ease your cash flow month to month.

Now to the card’s annual fee. As this is a business card, accountholders can apply for a number of cards to be used under one account. The amount you pay in annual fees will depend on the number of cards you have on your account. And while the annual fee for each card is pretty reasonable when taken individually, if you have a large number of cards on the go, the cost in annual fees will be significant.

What’s not so great...

For some business cardholders, it’s all about the perks. They want to earn rewards on their business spending, while enjoying enticing extras. Unfortunately, the Heritage Bank Business Visa Credit Card doesn’t offer rewards or fancy features, but it also doesn’t charge the higher annual fees that usually go hand in hand with them.

If you want extras – and you think you can get value back from them after paying higher annual fees – then it may be a good idea to look elsewhere.

Why should you choose this card?

On the other hand, if you want a simple card that is designed to make business spending easier to manage, the Heritage Bank Business Visa Credit Card could be for you. Business cards such as these can make it easy for employees to pay for essentials such as petrol and client lunches, as business owners keep personal and business spending separate.

With the Heritage Bank Business Visa Credit Card, there is one overall credit limit, and each card has its own individual spend limit. This can be adjusted by the accountholder to suit the needs of each employee. While there is no mention of it on the bank’s site, it’s likely the accountholder can track each individual cardholder’s spend.

Overall Rating

A basic business card with a low rate on purchases and cash advances, the Heritage Bank Business Visa Credit Card offers up to 40 days interest free on purchases, and the opportunity to enjoy a lower rate by securing the card.