Our verdict

An everyday business credit card that offers competitive rates and individual card limits, with a $75 annual fee per card.

The Westpac BusinessChoice Everyday Mastercard is a straightforward business credit card with a handful of useful extras. It offers compatibility with MYOB and BAS so you can directly export transactions and also gives you a way to export data to Microsoft Excel. If you're sharing the account with employees, the customisable credit limits are also a handy feature to help manage and track spending.

While there's no rewards program with this card, you can get extra value and peace of mind through the complimentary flight inconvenience insurance, transit accident insurance and unauthorised transaction insurance. Plus exclusive shopping offers through Mastercard – including with travel and hotel partners.

Pros

A low purchase rate of 14.25% p.a.
Complimentary insurance covers including transit accidents, unauthorised transactions and flight inconvenience

Cons

Charges a 3% foreign transaction fee

The Westpac BusinessChoice Everyday Mastercard has an annual fee of $75 per card, a competitive variable purchase rate of 14.25% p.a. and up to 55 days interest-free on purchases.

It also offers a range of complimentary extras, including complimentary flight inconvenience insurance and individual credit limits for cardholders. Find out more about this card and how to apply here.

Details

Product details

Product Name	Westpac BusinessChoice Everyday Mastercard
Purchase rate p.a.	Purchase rate p.a. 14.25%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	19.96%
Min credit limit	$2,000
Max credit limit	$250,000
Card type	Mastercard

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	Yes

Rewards

Bonus points

N/A

Fees

Annual fee	Annual fee $75
Minimum monthly repayment	3% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	Foreign currency conversion fee 3%
Cash advance fee	2% or $2.50, whichever is greater
Overseas cash advance fee	2%
Additional cardholder fee	$75
Number of additional cardholders	10

How to apply

You can apply for the Westpac BusinessChoice Everyday credit card online in around 20 minutes, with responses offered within 1 business day of submitting the completed application form. Get started by making sure you meet the following eligibility requirements and have all the relevant documents and details on hand.

Eligibility criteria

Business requirements. You must be the business owner, trustee or company director. You also need to have an active ABN or ACN and intend to use the card for business spending.
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. You need to provide your full name, email address, date of birth, driver's licence number, marital status, number of dependents and contact number.
Business details. This includes ABN, address, phone number and financial details for the current and previous year. You also need to provide details for your accountant or financial secretary.
Personal financial details. As the person applying, you'll need to provide details including your personal income (after tax), financial commitments, liabilities, assets and expenses.

Card benefits

Annual fee waiver. If you spend $15,000 or more in one year on an individual card, the annual fee on that card will be waived for the subsequent year.
Flight inconvenience insurance. Use your Westpac BusinessChoice Everyday card to pay for flights and you can get cover for a range of costs that may arise if your flight or luggage is delayed, or if you miss a connection.

Unauthorised transaction insurance. Get financial compensation to the value of $20,000 per cardholder and $150,000 per account if you're the victim of credit card fraud.
Transit accident insurance. Use your card to pay for overseas travel and you'll get cover against accidental injury or death when riding as a passenger on a plane, train, bus or ferry while outside of Australia.
Competitive purchase rate. Purchases using the Westpac BusinessChoice Everyday Mastercard accrue interest at 14.25% p.a. (variable).
Interest-free days. You can get up to 55 days interest-free on purchases during your statement period, as long as you pay back your account in full by the statement due date.
Additional cards. Order up to 10 additional cards linked to this account for your employees. You can customise the credit limit for each additional card, with limits starting from as low as $1,000. Note that each card has an annual fee of $75.
Mastercard benefits. Get access to seasonal travel and shopping offers through the Mastercard website and exclusive ticket and entertainment offers via Mastercard Priceless Cities.

Rates & fees

Annual fee. Outside of any promotions, the Westpac BusinessChoice Everyday Mastercard charges a standard annual fee of $75 per card.
Cash advance rate. Cash advance transactions accrue interest at 19.96% p.a.

Credit limits. The minimum account credit limit is $2,000 and maximum credit limit is $250,000.
Online banking. Westpac Live Online Banking lets you manage your business credit card account online anytime of the day of week. You can manage the credit limits of additional cards, view statements, make payments and see an overview of business spending from your desktop or mobile device.
Business reporting. Westpac BusinessChoice transactions and statements can be exported to popular business accounting software (such as MYOB and BAS) for easy tax reporting.

Sources

Westpac BusinessChoice Everyday Mastercard information PDF

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Pauline

February 09, 2015

Can monthly direct debit payments to various service suppliers be setup on a BusinessChoice Everyday Visa Credit Card?

Jonathan Finder

February 09, 2015

Hi Pauline, thanks for your inquiry!

As long as the merchant/ recipient supports direct transfer payment, direct debit is possible from the BusinessChoice Everyday Card.

Cheers,

Jonathan

Westpac BusinessChoice Everyday Mastercard

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