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Our verdict

Manage business spending with a 9.99% variable purchase rate and additional cards for employees.

The BankSA Visa Business credit card is suited to small or medium-sized businesses looking for a way to manage spending and cash flow. It gives new cardholders a competitive variable interest rate of 9.99% p.a. for purchases and offers up to 99 additional cards for employees.

As well as detailed monthly statements, you have the option of viewing spending summaries by department or division – which could help you save time on financial reporting and management. For businesses with more than one owner or partner, this card’s joint and several liability structure means that responsibility can be shared. In comparison, the responsibility for a business credit card with personal liability rests solely on the person who applies. However, it is worth noting that each card added to the account attracts a $55 annual fee – meaning you’d pay up to $5,500 per year if you got the maximum 100 cards for this facility.

Pros

Low 9.99% p.a. interest rate on purchases
Complimentary insurance against unauthorised transactions
Up to 55 days interest-free on purchases

Cons

Charges a 3% foreign transaction fee

The BankSA Visa Business credit card offers detailed statements that can help you keep track of expenses and complimentary insurance against unauthorised transactions.

It also offers up to 55 days interest-free on purchases when you pay your account’s closing balance by the due date on each statement.

Details

Product details

Product Name	BankSA Visa Business Credit Card
Purchase rate p.a.	9.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	17.15%
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	$55
Late payment fee	$0
Foreign currency conversion fee	3%
Cash advance fee	3%
Overseas cash advance fee	3% of each cash advance amount
Additional cardholder fee	$0
Number of additional cardholders	99

How to apply

You can apply for the BankSA Visa Business credit card by calling 1800 804 411 or visiting a branch. Get started now by checking that you meet the following eligibility requirements and have the details and documents you need for the application.

Eligibility criteria

Business details. Your business must be registered in Australia.
Residency. You must be an Australian citizen or permanent resident.

Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, contact details and a valid form of ID. You also need to provide basic details for each additional cardholder.
Business details. This covers your business name and address, as well as the ABN (Australian Business Number), ACN (Australian Company Number), ARBN (Australian Registered Body Number) or ARSN (Australian Registered Scheme Number). You also need to provide financial details for your business, such as the annual turnover, profit and loss statements and contact details for your accountant.
Employment details. This includes your employment status, your salary and contact details. If you're self-employed, you may be required to provide additional information such as your accountant's contact details.
Assets and liabilities. This includes any other income or assets – such as shares or savings – as well as existing debts, loans or other financial liabilities.

Card benefits

Simple expense reporting. The BankSA Visa Business credit card gives you comprehensive statements that help you monitor and manage expenses. You also have the option of getting consolidated summaries by department or division.
Up to 100 cards linked to the account. Keep track of business spending and manage expenses with up to 99 additional cards for employees.

Complimentary unauthorised transaction insurance. If you get additional cards for employees, this cover offers you protection against unauthorised transactions made by other cardholders.
Low purchase rate. If you want the flexibility to pay off spending over time, the 9.99% p.a. variable purchase rate on this card could help you save on interest charges compared to business credit cards with higher interest rates.
Up to 55 days interest-free. This account offers up to 55 interest-free days on purchases when you pay the full closing balance on your statement by the due date.
Visa benefits. Make contactless payments at the checkout and get access to exclusive travel, shopping and entertainment offers through the Visa website.

Rates & fees

Annual fee. The BankSA Visa Business charges an annual fee of $55 p.a. per card.
Cash advance rate. This card has a variable interest rate of 17.15% p.a. for cash advance transactions. Note that cash advances are ineligible for interest-free days.

Cash advance fee. If you use this card to withdraw cash, you will be charged 3% of each cash advance amount.
Foreign transaction fee. A fee worth 3% applies for any transactions made overseas or online in a foreign currency.

Sources

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Amy Finder

Editor

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verne

April 09, 2015

Hi ,I am a discharged bankrupt as at November 2013 ,I am pensioner have a part time job in administration in a Real Estate company.

I have been developing a marketing program for selected Real Estate Agencies and will be releasing this to the market later this year.

This will be through a new company that I have formed.

With my pension and part time income I currently have an annual income of $45,000 a year.

Would I qualify for consideration for a Business Credit Card,I currently do not have any credit cards and loans.

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Jonathan Finder

April 10, 2015

Hi Verne, thanks for your inquiry!

The requirements are your business must be trading for a minimum of 1 year & you will need to provide minimum 1 year of tax return documents, with no minimum income requirement. BankSA will assess your application, personal situation and needs to best advise on your options upon application completion.

Cheers,

Jonathan

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BankSA Visa Business Credit Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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