Bendigo Bank | Low Rate Credit Card (Australia) Review

Bendigo Bank is not one of the Big Four, but it provides a similar variety of banking goods and services. A Bendigo Bank credit card, which is available to consumers throughout Australia, can provide rewards, a balance transfer, Qantas Points, and other benefits. The method interest is computed on Bendigo Bank credit cards is also unique. While most credit cards charge interest from the day of purchase, Bendigo Bank charges interest from the date of statement issuance, possibly saving you up to 50% on interest payments.

Rate and fees -

• Annual fee This card charges a standard annual fee of $45.
• Purchase rate. Outside of any promotions, this card charges an 11.99% p.a. purchase rate, which is competitive with other low rate cards.
• Up to 55 days interest-free. Outside of any purchase rate offers, you can save with up to 55 days each statement period. This interest-free period consists of your 30-day statement cycle, plus the 25 days to the payment due date.
• Cash advances. If you make a cash advance transaction with this card, you'll be charged at the 13.99% p.a. variable interest rate. You'll also be charged a cash advance fee of 0.5% of the transaction amount or $3.25 (whichever is greater).
• International transaction fees. You'll be charged 3% of the transaction amount when you use your card for payments in a currency other than Australian dollars

Features and benefits –

• No fees for additional cardholders.
• 24/7 fraud monitoring and no liability for unauthorised transactions.
• Up to 55 days interest free.
• Interest is calculated from the statement date, not the date you made the purchase.
• Tap & go for contactless purchases.
• Use in store, online and withdraw local currency at millions of locations, everywhere Mastercard is accepted.
• Access to Mastercard Priceless® Cities exclusive experiences and special offers.

Advantages –

• 0% p.a. on purchases for 18 months
• Low annual fee of $45
• No fees for additional cardholders

Disadvantages-

• Purchase rate offer reverts to 11.99% p.a.
• Does not offer a rewards program or travel insurance covers

Eligibility Criteria -

• Rewards rate: 1 percent cash back on all purchases
• A new cardholder has arrived. You must not now have or have held a Bendigo Bank Low Rate in the last 12 months to be eligible for this offer.
• Age. To apply for this card, you must be at least 18 years old.
• Offer of a 0% purchasing rate. If you apply by February 28, 2022, you can get a 0% p.a. interest rate on purchases for up to 18 months. Any leftover debt beyond that term is subject to a regular purchase rate of 11.99 percent p.a. Keep in mind that throughout the interest-free time, you must also satisfy your minimum repayment obligations.
• Calculations of interest Bendigo Bank credit cards calculate interest from the statement date, rather than the date of purchase, as most credit cards do. When compared to the charges that would apply on most other credit cards, depending on when you make a purchase, this has the potential to practically reduce your interest expenses.

CONTACT NUMBER - 1300 001 153