Bendigo Bank Low Rate Credit Card

This low rate card offers 0% interest on purchases and balance transfers for the first 12 months but also charges a 2% balance transfer fee.

The Bendigo Bank Low Rate Credit Card is a no-frills credit card designed to help you keep your card costs low, with a competitive interest rate of 11.99% p.a. for purchases and an annual fee of $45.

If you apply by 31 October 2021, you can save with 0% interest on both purchases and balance transfers (with a 2% balance transfer fee) for up to 12 months. While this card doesn’t have a lot of extra perks, it’s a competitive option if you’re focused on saving money.

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Amy Bradney-George

Last Updated Jul 20, 2021

0% p.a.

Balance transfer rate

for 12 months with 2% balance transfer fee

0% p.a.

Purchase rate

for the first 12 months (reverts to 11.99% p.a.)

$45 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	Bendigo Bank Low Rate Credit Card
Balance transfer rate	0% p.a. for 12 months with 2% balance transfer fee
Balance transfer revert rate	Purchase Rate (11.99% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	0% p.a. for 12 months, reverts to 11.99% p.a.
Annual fee	$45
Interest-free period	Up to 55 days on purchases
Cash advance rate	13.99% p.a.
Min credit limit	$500
Card type	Mastercard
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

0% p.a. on purchases for 12 months
0% p.a. for 12 months on balance transfers (reverts to 11.99% p.a. thereafter)
Low annual fee of $45
No fees for additional cardholders

Cons

Charges a 2% balance transfer fee
Does not offer a rewards program or travel insurance covers

Bonus points	N/A

Annual fee	$45
Minimum monthly repayment	3% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	0.5% or $3.25, whichever is greater
Overseas cash advance fee	0.5% or $3.25, whichever is greater
Overseas ATM withdrawal fee	$5
Additional cardholder fee	$0

Go to Bendigo Bank's site More info

Review by

Amy Bradney-George

[email protected]

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Bendigo Bank Low Rate Credit Card gives you a way to cut down on card costs with 0% interest for the first 12 months on your purchases and balance transfers. After the introductory period, the remaining purchase balance and debt from your balance transfers will attract the standard purchase interest rate of 11.99% p.a. While this rate is competitive with other low rate cards (and some other balance transfer cards revert to a higher cash advance rate), it’s still ideal to pay off your entire balance transfer during the 0% period. Also keep in mind that if you’re planning to use it for existing debt, the one-time 2% balance transfer fee is on the higher end of the scale for balance transfer offers currently on the market.

When you’re using this card for purchases, you get up to 55 days interest-free on purchases. Bendigo Bank also charges interest from the statement date rather than the date of purchase, which can help give you more breathing room before interest charges apply. You also get worldwide acceptance through the Mastercard network and can add it to Apple Pay, Google Pay or Samsung Pay to make mobile payments. If you like the sound of this card but are willing to fork out a higher annual fee for extra features, you could also consider the Bendigo Bank Low Rate Platinum card.

How to apply

You can apply for the Bendigo Bank Low Rate Credit Card online. Before you get started, check if you meet the eligibility criteria and have the necessary information to complete the application:

Eligibility criteria

New cardholder. To apply for this offer, you cannot hold or have held a Bendigo Bank Low Rate in the previous 12 months.
Age. You must be at least 18 years of age to apply for this card.

Credit history. You can only apply for this card if you have a good credit score and you're not bankrupt or insolvent.
Residency. Permanent Australian residents and Australian citizens are eligible to apply. Temporary residents are eligible to apply as long as you have a 188, 457 or 489 visa, have applied for permanent residency and have at least 12 months remaining on the visa.
Eligible balance transfer debt. If you're looking to transfer a balance to this card, Bendigo Bank allows you to transfer from accounts not serviced by Bendigo.

Required documents

Personal information. You'll need to provide your full name, address, relationship status and number of financial dependents. You'll also need a valid form of ID such as your driver's licence, Medicare card or passport.
Income. Confirm your employment status, salary and employer's contact details. You can also provide details of income from sources such as Centrelink or superannuation.
Finances. You'll need to list your liabilities, assets and any expenses including bills, groceries, transport and education.
Balance transfer information. If you're planning to transfer a balance, you will need to provide the details of that account.

Go to Bendigo Bank's site More info

Card benefits

0% interest on balance transfers for up to 12 months. Apply by 31 October 2021 and you'll get a 0% p.a. interest rate for up to 12 months on balance transfers, with a 2% balance transfer fee. Any balance remaining at the end of the introductory period will be charged interest at the card's standard purchase rate, currently 11.99% p.a.
0% purchase rate offer. Save with a 0% p.a. interest rate on purchases for up to 12 months if you apply by 31 October 2021. A standard purchase rate of 11.99% p.a. applies to your purchase balance after that period. Remember that you also need to meet repayment requirements during the interest-free period.

Interest calculations. While most credit cards calculate interest from the date a purchase is made, Bendigo Bank credit cards calculate interest from the statement date. Depending on when you make a purchase, this has the potential to almost halve your interest costs when compared to the charges that would apply on most other credit cards. It also means you can take advantage of interest-free days even if you carry a balance.
Mastercard benefits. You can use this card online, over the phone and in-person globally wherever Mastercard is accepted. Plus, you can access to exclusive shopping, travel and lifestyle offers through Mastercard Priceless Cities.
Additional cardholder. You can request an additional cardholder to be added to your Bendigo Low Rate account at no extra cost.
Mobile payment technology. You can use your smartphone and other eligible devices to tap and pay when you link your account to Apple Pay, Google Pay or Samsung Pay. You can also make contactless payments using your fitness tracker via Fitbit Pay or Garmin Pay.

Rates & fees

Annual fee. This card charges a standard annual fee of $45.
Purchase rate. The 11.99% p.a. purchase rate on this card is competitive with other low rate cards.

Up to 55 days interest-free. Outside of any purchase rate offers, you can save with up to 55 days each statement period. This interest-free period consists of your 30-day statement cycle, plus the 25 days to the payment due date.
Cash advances. If you make a cash advance transaction with this card, you'll be charged at the 13.99% p.a. variable interest rate. You'll also be charged a cash advance fee of 0.5% of the transaction amount or $3.25 (whichever is greater).
International transaction fees. You'll be charged 3% of the transaction amount when you use your card for payments in a currency other than Australian dollars.

Go to Bendigo Bank's site More info

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12 Comments

Lazlo
June 18, 2019

Hi i’m a old age pensioner i want to know if i can get acredit card for 1000 or $2000

Bella
June 19, 2019

Hi Lazlo,

Thanks for your inquiry.

Your eligibility for a credit card would depend on the provider’s requirements and discretion. You may want to refer to our list of providers offering a credit card for a pensioner to see the documents you’ll need to improve your chances of approval.

Just a reminder, please ensure to read the details, as well as the relevant Product Disclosure Statements / Terms & Conditions of the option is right for you.

I hope this helps.

Kind regards,
Bella

Wayne
March 12, 2019

Can I cancel the card after 90 days ? what is going to be happened ?

Nikki
March 13, 2019

Hi Wayne,

Thanks for reaching out!

You can cancel the card after 90 days and your account will be closed after then. You can use our guide on how to close and cancel your credit card to know how to properly do it. Hope this helps and if you have questions, just email us back.

Cheers,
Nikki

John
May 28, 2018

Do any Bendigo cards have tap and go facility included?

finder Customer Care

Jeni
May 28, 2018

Hi John,

Thank you for getting in touch with finder.

Yes, they have. Once you have added your Bendigo Bank card to Google Pay you can simply unlock your phone and tap on a shop’s contactless card reader. There’s no need to open an app.

For transactions under $100 you won’t need to enter your card Personal Identification Number (PIN).

The purchase amount will then be debited from the card you have loaded as the default card.

When you make a purchase, you’ll see a payment confirmation that shows you exactly where the transaction happened, along with the merchant’s name and number.

If you have a Bendigo Bank credit card with rewards you’ll continue earn points when using Google Pay.

As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

I hope this helps.

Have a great day!

Cheers,
Jeni

ron
May 25, 2018

I have a Citibank credit card with MasterCard.The limit is $11,500 approx. and amount outstanding is approximately $3,000. Can I transfer this to a new card with Bendigo.

Arnold
May 25, 2018

Hi Ron,

Thanks for your inquiry.

You can opt for this card’s balance transfer offer to move the $3,000 debt from Citi provided that your approved credit limit is equal to or above $3,750. This is because this card’s balance transfer limit is only at 80%. Check out our review on balance transfer limit for more details. If you would like to apply for this card, please ensure you meet the eligibility criteria and can provide the needed documents above. If you do, press the “Go to Site” button to start your application.

You can also check our list of balance transfer credit cards to check your other options. On the page is a comparison table you can use to see which card suits you.

Hope this information helps

Cheers,
Arnold

Amanda
April 25, 2018

Will a guarantor be accepted if applied for

finder Customer Care

Joshua
April 25, 2018

Hi Bara,

Thanks for getting in touch with Finder.

The Bendigo Bank Low Rate Mastercard doesn’t necessarily need a guarantor for your application to be approved. However, some credit card companies do provide an option for you to bring along a guarantor. As a guarantor, the person basically signs a contract saying that any credit card debt will be transferred to him/her should the owner default, or not be able to pay it back.

Please refer to our guide on on joint credit card for more details.

I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

Have a wonderful day!

Cheers,
Joshua

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