- $60 annual fee. The annual fee is waived when previous spend exceeds $24,000 p.a.
- Up to 9 cardholders with individual limits
- 13.60% p.a. on purchases unsecured and an even lower secured rate is available
Allowing small business owners to manage their cash flow more effectively, the Hume Bank Business Visa Card provides up to 55 days interest free on purchases, waiving the annual fee after a minimum annual spend is met. Accountholders can have up to nine cards on the account, each with individual spend limits, and each earning cashback rewards.
Unlike certain other rewards programs that can be difficult to understand, the Hume Bank Business Visa Card keeps things super simple with its system offering cashback rewards. With this card, you will earn 1 Loyalty Point per $1 spent. For every 500 Loyalty Points you earn, you will receive $1 cash back, placed directly into your account to spend as you like.
In terms of value, a $25,000 annual spend would equate to $50 in cashback. While this probably doesn’t make you rub your hands with glee, it doesn’t compare that badly with what’s on offer elsewhere. For example, if you had a Qantas card earning 0.5 points per $1, your $25,000 spend would equate to 12,500 Qantas Points. Spent in the Qantas Store, those points could give you a $50 Bunnings gift voucher (with a few points left over in change).
We’d be the first to say rewards programs such as Qantas tend to offer more back when points are redeemed for flights and upgrades, but if you’re not much of a traveller – or you don’t want to mess about with a rewards program like Qantas – simple cashback may be more appealing.
Aside from its rewards, the Hume Bank Business Visa Card keeps features basic. But, that could be because it’s essentially a low cost card. If you spend at least $24,000 on the card each year, its – very small – annual fee is waived. So, with that $25,000 spend, you earn $50 back while paying out nothing in annual fees.
And interest? Yep, interest is also low on this card. If you secure the card, the purchase rate you get will be one of the lowest in the market, but even unsecured, the rate is still pretty low. However, we will make a point of saying that carrying a balance will quickly negate any cashback rewards you earn, so it’s best to clear the balance each month to take advantage of up to 55 days interest free on purchases.
If you want a business card that’s bursting with features, this is probably not the card for you. The Hume Bank Business Visa Card focuses on keeping costs down with a low or waived annual fee and a low purchase rate, with a nice little sideline in cashback rewards. Those who want extras like airport lounge access and hotel upgrades may want to look at the most costly options.
If you are a small business owner and want to streamline the way you deal with business expenses, the Hume Bank Business Visa Card could be worthwhile looking into. You can have up to nine cards on the account, each with individual spend limits, allowing employees to cover everyday expenses such as lunches, travel costs and office essentials as needed.
As a low cost option, it will not overwhelm you with features, but it does allow you – and each of your cardholders – to earn something back on your business spending.
The Hume Bank Business Visa Card provides up to nine cards with individual spend limits, a low secured or unsecured purchase rate, a low annual fee that is waived with a minimum annual spend, and the opportunity to earn cashback rewards day-to-day.
Purchase rate 13.60% p.a.
Cash advance rate 19.95% p.a.
Interest free period on purchases up to 55 days
Minimum credit limit $5,000
Maximum credit limit N/A
Annual fee $60 p.a.
Additional card holder fee N/A
Foreign transaction fee 2.85% of the transaction value
Cash advance fee N/A
Late payment fee $20
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
Eligible with Apple Pay & Google Pay
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Permanent Resident or Australian Citizen
You have your personal details ready to complete the online application
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.
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