Our verdict

Offers up to 55 interest-free days on purchases and a $0 annual fee in the first year, which goes to $150 after that.

The ANZ Business 55 Interest Free Days credit card is suited to small and medium businesses that want to manage their expenses under one account. This includes the option of cards for employees, with custom spending controls and no additional cardholder annual fee. While it offers up to 55 days interest-free on purchases, keep in mind that the account's full closing balance needs to be paid by the due date on each statement. Otherwise, a 17.74% p.a. purchase rate applies.

Like many business cards, you can also link it with accounting software programs to simplify your cost tracking. The $150 p.a. annual fee for this card is waived in the first year and is relatively low compared to other business credit cards.

Pros

$0 annual fee in the first year
Up to 55 days interest-free on purchases
$0 additional cardholder fee, plus individual card controls
Unauthorised Transaction Insurance

Cons

No introductory interest rate offers
No rewards program

The ANZ Business 55 Interest Free Days Card currently offers a $0 annual fee for the first year, which goes to $150 p.a. after that and is competitive among business credit cards. But cards with higher fees do generally offer more perks, such as rewards or travel benefits. So make sure you weigh up its other features before you apply.

Details

Product details

Product Name	ANZ Business 55 Interest Free Days
Purchase rate p.a.	Purchase rate p.a. 17.74%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	19.24%
Min credit limit	$1,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	Annual fee $0 first year ($150 after)
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$35
Foreign currency conversion fee	Foreign currency conversion fee 3%
Cash advance fee	1.5% or $1.50, whichever is greater
Overseas cash advance fee	1.5% or $1.50, whichever is greater
Additional cardholder fee	$0

How to apply

You can apply for the ANZ Business 55 Interest Free Days Card online in around 20 minutes through ANZ GoBiz. For this option, you need to connect your accounting software (Xero, MYOB or Intuit QuickBooks) to the platform.

Alternatively, you can request a callback through the ANZ website or call 1800 032 481 between 8am and 6pm (AEST), Monday to Friday. Before you apply, make sure you and your business meet the eligibility requirements and have the necessary information to complete the application:

Eligibility criteria

Eligible Australian business. This card is available to business entities (including sole trader, partnership, company, trust, association or co-operative) operating in Australia. The primary cardholder must be authorised to open an account on behalf of the organisation.
Residency. At least one director, partner or proprietor applying for the account must be a permanent Australian resident.

Age. You must be at least 18 years old.
Business purchases. You must agree to use the card wholly or predominantly for business purposes.
ANZ GoBiz online application requirements. If you're applying through ANZ GoBiz, you need to have been operating under the same ABN or ACN for at least 6 months, have at least 6 months of reconciled financial data in Australian dollars and be registered for GST if your business turnover is at least $75,000 per annum. Your annual turnover also can't be over $10 million.

Required documents

Registered ABN or ACN. You'll need to confirm your company's name, the type of business it is and list the ABN, ACN, trading address, mailing address.
Personal details. This includes the name, date of birth, address, income, expenses, assets and liabilities of each director, partner or proprietor authorised to apply for the account. You’ll also need to include the same details for each additional cardholder and authorised signatory.
Existing finances. You'll be asked to provide details of any existing business accounts or loans with ANZ or other institutions. You'll need to list the facility, purpose, institution and current credit limit.

Card benefits

$0 annual fee in the first year. This card waives the annual fee for the first year, which saves you $150 on the annual fee that applies from the second year on. Keep in mind that ANZ may withdraw this offer at any time.
Up to 55 interest-free days. If you pay your balance in full by the statement due date, you'll get up to 55 days interest-free on purchases made with this card.

Expense tracking. Your monthly statements will be sorted by cardholder, making it easy to understand individual and total business credit card expenses. You can also set up data feeds for Xero, MYOB, Intuit QuickBooks Online and other compatible accounting software platforms.
Additional cardholders and spending controls. You can request additional cards for employees, with monthly spend caps, transaction limits and other controls. And unlike some business credit cards, the ANZ Business 55 Interest Free Days doesn't charge an additional cardholder annual fee.
Security and purchase protection. This card offers Unauthorised Transaction Insurance that protects your business against fraudulent transactions of up to $37,500 per cardholder and $200,000 for the total account per 12-month period. Your account will also be monitored 24/7 by ANZ Falcon and you'll be covered by ANZ Fraud Money Back Guarantee.

Rates & fees

Annual fee. Outside of any promotions, this card charges a $150 annual fee, which is charged on the anniversary date of your account activation.
Purchase interest rate. Your purchases will be charged 17.74% p.a.

Cash advance interest rate. If you use the card to make a cash advance, such as an ATM withdrawal, you'll be charged 19.24% p.a.
Minimum credit limit. You can request a credit limit from $1,000.

Sources

ANZ Business 55 Interest Free Days information PDF

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Annie

January 24, 2015

Can I withdrawn from an ATM from my business one credit card? If I can what is the daily limit?

PEMNI

October 08, 2015

If I pay off my monthly accounts payable statements with this card, Is this considered a cash advance?

Is this included in the interest free days?

Do I earn reward points?

If so, is there a card which allows me to do this, which is not Amex? and earns me FF points.

Thanks

Pemni

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Jonathan Finder

January 26, 2015

Hi Annie,

Thanks for your inquiry,

Withdrawals from a ANZ Business One card are possible as it is a VISA card. The daily limit on withdrawals sums of money up to a limit of AUD $1000 – and more if you make special arrangements with ANZ.

I hope this has helped.

Cheers,

Jonathan

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PHILLIP

November 24, 2014

WHY AM I CHANGE INTERST ON PURCHASES

Elizabeth Barry Finder

November 24, 2014

Hi Phillip,

Thanks for your question.

You’re charged interest on purchases because that is the way this card, and most credit cards work. You can take advantage of up to 55 days interest-free on purchases when you pay your balance back in full each month to help save on interest charges.

I hope this has helped.

Thanks,

Elizabeth

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ANZ Business 55 Interest Free Days

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