Balance Transfer Rate
for 6 months then 11.99%
for 12 months then $45
Max Free Days
Number free supplementary
Interest Free Days
Interest Free Days
for 12 months then $45
Maximum credit limit
No set max
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
for 6 months then 11.99%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
3% on Mastercard
Estimated ATM Cost
Australia Citizen, Permanent Resident
- FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 16 years of age
- Balance Transfer 0% on Balance Transfers for 6 months. $0 annual fee in Year 1 then reverts to $45. Get a $150 Woolworths Supermarket Gift Card when you spend $1k in 60 days.
Compare and review credit cards with similar features
In 2007 Bendigo Bank merged with Adelaide Bank to form the Bendigo and Adelaide Bank Group of companies or what is commonly known as Bendigo Bank today.
The unique strengths of Adelaide Bank in wholesale finance and Bendigo in retail banking have combined and grown to be one of Australia’s largest retail banks, now servicing over 300 communities, families and businesses and over 1.3 million customers.
Their head office is located in the central Victorian city of Bendigo, with business operating dominantly in Victoria and Queensland.
The bank has extensive experiences in communities and joint ventures as it continues its tradition of providing its customers with quality personal service and a broad selection of home loan products and advice to match. Bendigo Bank is now a publicly listed company on the Australian Stock Exchange.
Bendigo Bank customers can reach customer support by contacting them via:
- Customer service (phone, email, branch)
- Mobile app
- Live chat
- Online banking
- Mobile banking staff
The Bendigo & Adelaide Bank Low Rate Mastercard has a moderately low annual fee, moderately low interest rates, and a moderate number of interest-free days. Unlike many other credit cards, this card calculates interest from the statement date rather than the purchase date. The card charges a moderately low fee for late payments and does not offer a rewards scheme.
While the Bendigo & Adelaide Bank Low Rate Mastercard does not have an associated rewards program, card holders are granted access to Mastercard Priceless Cities, which gives members exclusive offers in cities around the world.
The card also comes with 24/7 fraud monitoring, which observes your card for fraudulent activity. The Bendigo & Adelaide Bank Low Rate Mastercard also has a no liability policy, which means card holders are not held responsible for unauthorised transactions.
- Free additional cardholders
- Interest calculated from statement date
- Access to Mastercard Priceless Cities
- Charges an annual fee
- No rewards scheme
- No frequent flyer points
Who is it good for?
The Bendigo & Adelaide Bank Low Rate Mastercard is best for potential card holders who want low rates and reasonable fees. The card boasts relatively low interest rates and a moderate interest-free period, which may be an incentive for those who struggle to pay their credit card bill in full each month. Unlike other cards, this card calculates interest from the statement date rather than the purchase date. This card also charges a moderately low annual fee, which may be attractive to customers who wish to minimise costs.
The Bendigo & Adelaide Bank Low Rate Mastercard is not a rewards card, which means that potential card holders in search of rewards should consider looking elsewhere. The card does not earn points on eligible purchases, nor can it accumulate frequent flyer points.
What RateCity says
The Bendigo & Adelaide Bank Low Rate Mastercard may be a sensible choice for budget card holders. Customers who tend not to pay their bill in full might appreciate the moderately low interest rates as well as the card’s policy of charging interest from the date of the statement instead of the date of the purchase. The rates, as well as the moderate number of interest-free days, may help budget card holders save money over a number of months.
However, the Bendigo & Adelaide Bank Low Rate Mastercard provides few advantages to potential card holders who pay their bill in full each month. The card does not have a rewards scheme, which may deter those who want to earn points or frequent flyer miles for their purchases. Customers looking to minimise associated fees may be better off with a card that does not charge an annual fee.
Customers can apply for the Bendigo & Adelaide through a secure online application. To be eligible, you must be at least 18 years old and be an Australian citizen or permanent resident. You must also have a good credit rating. While applying, you’ll need to provide personal information including photo identification, as well as financial details. Customers who don’t wish to complete the online application can also apply over the phone or at a Bendigo Bank branch.
About Bendigo & Adelaide Bank
Bendigo & Adelaide Bank’s history spans over 150 years, with their beginnings linked to two separate banks in Bendigo, Victoria and Adelaide, South Australia. Both banks began as building societies before joining forces to become a larger Australian financial institution. Bendigo & Adelaide Bank now offer a range of financial services, including credit cards, bank accounts, personal loans, insurance and superannuation. Bendigo & Adelaide Bank serve over 1.5 million customers across the country.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice.
Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.
If you’re wondering about how to make a credit card online application, here are some steps to follow:
- Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
- Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
- Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
- Review details. Ensure the information you’ve entered is correct.