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Bendigo Bank Low Rate Mastercard Full Review

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Save on bank card prices with an rate of interest of 11.99% p.a. on purchases, a aggressive annual charge and as much as 55 days interest-free.

The Bendigo Bank Low Rate Mastercard is designed to supply reasonably priced get entry to to credit score, with a low same old rate of interest of 11.99% p.a. (variable) on purchases and an annual charge of $45. It additionally gives as much as 55 days interest-free on purchases and international acceptance in the course of the Mastercard community. Use this information to check the advantages and prices of the Bendigo Bank Low Rate Mastercard so you’ll be able to come to a decision if it’s the appropriate card for you.

Product Name Bendigo Bank Low Rate Mastercard
Purchase charge (p.a.) 11.99% p.a.
Annual charge $45 p.a.
Interest Free Period

The interest-free duration on purchases is the duration or collection of days you do not need to pay curiosity for your card purchases. You will likely be charged curiosity both from the day you’re making a purchase order or from the commentary date, except you pay the final steadiness in complete by way of the due date (or throughout the interest-free duration) for your commentary.

Up to 55 days on purchases
Cash advance charge (p.a.) 13.99% p.a.
Min credit score restrict

This is the bottom bank card restrict that you’ll be able to request. It is conceivable to use for the next bank card restrict however now not a decrease one than this determine.

$500
Minimum Monthly Repayment $10 or three% per thirty days whichever is bigger
Card Type Mastercard
Late Payment Fee $15
Foreign Currency Conversion Fee (MC)

Foreign forex conversion charges are charged when you’re making a transaction this is transformed by way of a bank card community, equivalent to GraspCard, Visa or American Express, from Australian bucks to a foreign currency echange. You’ll additionally incur a forex conversion charge if you’re making a purchase order or download a money advance in Australian bucks whilst in a foreign country or buying groceries on-line with a overseas service provider or monetary establishment.

three% of transaction worth
Complimentary Travel Insurance No
Available To Temporary Residents No
Minimum Age 18 years of age
Available to Temporary Residents No
Credit Rating Requirement Good
Min Credit Limit

This is the bottom bank card restrict that you’ll be able to request. It is conceivable to use for the next bank card restrict however now not a decrease one than this determine.

$500
Annual Fee $45 p.a.
Minimum Repayment $10 or three% per thirty days whichever is bigger
Late Payment Fee $15
Cash Advance Fee $three.25 or zero.five% of the transaction quantity
Overseas Cash Advance Fee $three.25 or zero.five% of the transaction quantity
Overseas Emergency Replacement $100
Overseas ATM Balance test $1.50
Overseas ATM Withdrawal Fee $five
Foreign Currency Conversion Fee (MC)

Foreign forex conversion charges are charged when you’re making a transaction this is transformed by way of a bank card community, equivalent to GraspCard, Visa or American Express, from Australian bucks to a foreign currency echange. You’ll additionally incur a forex conversion charge if you’re making a purchase order or download a money advance in Australian bucks whilst in a foreign country or buying groceries on-line with a overseas service provider or monetary establishment.

three% of transaction worth
Additional Cardholder Fee $zero p.a.
BPAY Yes
Cheque Yes
Direct Debit Yes
Australia Post Yes
Phone Banking Yes
Internet Banking Transfers Yes
In Branch Yes
Mail Yes

Pros

  • A low annual charge of $45
  • Up to 55 days interest-free on purchases
  • 24/7 fraud tracking and Mastercard Zero Liability
  • charges for added cardholders

Cons

  • This is a elementary card that provides not one of the perks like go back and forth insurance coverage or a rewards program.
  • A charge of $15 for past due bills will likely be imposed.

Review of the Bendigo Bank Low Rate Mastercard

As neatly as providing a aggressive variable acquire charge of 11.99% p.a., the Bendigo Bank Low Rate Mastercard permit you to save on curiosity fees in response to how it calculates those prices. While maximum bank cards calculate curiosity from the day a purchase order is made (and rate it per month), Bendigo Bank calculates curiosity from the commentary date.

Depending on when you’re making a purchase order, this would prevent an enormous amount of cash on curiosity fees every month. It additionally way you’ll be able to rise up to 55 days interest-free on purchases even while you elevate a steadiness.

In phrases of alternative prices, the Bendigo Bank Low Rate Mastercard has an annual charge of $45 and a money advance rate of interest of 13.99% p.a. (variable). It additionally gives no annual charge for added cardholders if you wish to percentage your account with any individual.

Features and advantages of the Bendigo Bank Low Rate Mastercard

Here are the important thing advantages you’ll be able to get with the Bendigo Bank Low Rate Mastercard:

  • Low acquire charge. This card gives a aggressive variable rate of interest of 11.99% p.a. for purchases.
  • Up to 55 days interest-free. Enjoy the versatility of interest-free purchases for as much as 55 days every commentary duration. This interest-free duration is composed of your 30-day commentary cycle, plus the 25 days to the fee due date. Note that the collection of interest-free days you get for a purchase order is determined by which day for your commentary cycle it’s made. For instance, a purchase order on day 1 would get 55 days curiosity unfastened, whilst a purchase order on day 10 would get 45 days interest-free.
  • Contactless bills. Enjoy the ease of tap-and-go bills on the checkout every time your purchases are beneath $100.
  • Mastercard advantages. You can use this card on-line, over the telephone and in-person all over the global, any place Mastercard is approved. You too can acquire get entry to to exclusive shopping, travel and lifestyle offers via Mastercard Priceless Cities.
  • Security options. This card comes with a 24/7 fraud tracking provider and provides 0 legal responsibility for unauthorised transactions for your account.

Rates and costs for the Bendigo Bank Low Rate Mastercard

Weigh up those prices while you’re deciding if the Bendigo Bank Low Rate Mastercard is best for you:

  • Annual charge. This card has an annual charge of $45.
  • Cash advance charge. The Bendigo Bank Low Rate Mastercard fees a variable rate of interest of 13.99% p.a. for money advance transactions equivalent to ATM withdrawals. Note that money advances aren’t eligible for interest-free days and curiosity is calculated from the date of the transaction.
  • Cash advance charge. If you utilize your card for a money advance, you’ll pay a charge definitely worth the better of $three.25 or zero.five% of the transaction quantity.
  • International transaction charges. A charge price three% the transaction is implemented while you use your card for bills in a forex rather than Australian bucks.
  • Default charge. A charge of $15 applies when your minimal reimbursement is price greater than $25 and has now not been made 30 days after the due date for your commentary.

How to use for the Bendigo Bank Low Rate Mastercard

You can follow for the Bendigo Bank Low Rate Mastercard on-line in round 15 mins. Just remember to meet the eligibility necessities and feature the entire related main points able for the applying.

Eligibility standards

  • Are you 18 or older? You should be no less than 18 years of age to use for this card.
  • What is your residency standing? You should be an Australian citizen or everlasting resident to use for this card.
  • Are you bankrupt? You can simplest follow for this card in the event you’re now not bankrupt or bancrupt.
  • Are you a person or an organization? Only folks can follow for this card.

Details and paperwork

Here is the guidelines you’ll want to have available to finish your utility:

  • Personal data. You’ll want to supply your complete identify, deal with and courting standing. You’ll additionally desire a legitimate type of ID equivalent to your driving force’s licence, Medicare card or passport.
  • Income main points. Provide main points of your employment standing, wage and employer’s touch main points. You too can supply main points of source of revenue from different assets, equivalent to Centrelink or superannuation.
  • Financial commitments. Provide main points of your very important prices and residing bills, together with expenses, groceries, delivery and schooling. You’ll additionally want to supply main points of any dependents, equivalent to youngsters.

With a low acquire charge of 11.99% p.a. and an annual charge of $45, the Bendigo Bank Low Rate Mastercard gives easy and handy get entry to to credit score. With some low charge playing cards additionally providing complimentary extras, it’s price weighing up this card in opposition to others so you’ll be able to make a choice the person who suits your wishes.

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