Compare business credit cards

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Compare your business credit card options

American Express Business Explorer® Credit Card

Annual Fee

No Annual Card Fee for First Year

Credit Card

Up to 55 interest free days to pay for purchases. Introductory interest rate of 3.99% p.a. on new purchases for first 6 months*

Key Benefit

Earn up to 2 points per $1

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Receive 100,000 Membership Rewards Bonus Points. Simply spend $3,000 on your new Card within 3 months of your approval date. Offer ends 2 November 2022. Available for new American Express Card Member only.

American Express® Qantas Business Rewards Card

Annual Fee

$450 annual fee

Charge Card

No pre-set spending limit, 51 days payment terms

Key Benefit

Earn up to 2 Qantas Points per $1

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Offer: Enjoy 160,000 bonus Qantas Points + $450 Qantas Flight Voucher with the American Express® Qantas Business Rewards Card, plus an additional 20,000 bonus Qantas Points when you enroll in Qantas Business Rewards for the first time. Apply between 1st – 31st July 2022

American Express® Platinum Business Card

Annual Fee

standard annual fee of $1750

Charge Card

No pre-set spending limit, 55 days payment terms

Key Benefit

Earn up to 2.25 points per $1

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Receive 300,000 Membership Rewards Bonus Points and half the annual card fee for your first year. Simply spend $12,000 within 3 months of your approval date. Offer ends 27 July 2022. Available to new American Express Card Members only.

Archa Mastercard® Business Card

Annual fee

From $14 p/mth

Charge Card

Flexible credit limits up to $40,000. 30 day payment terms.

Key benefit

Instantly issue multiple company cards. Xero bank feed integration (coming end of Feb).

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More than a credit card, Archa is your all-in-one spending solution. Instantly issue cards to staff, track and control spending, and enjoy fast, local customer support.

Cape Mastercard Business Card

Annual Fee

Free Beta Programme Access (we’ll be in beta for the next few months)

Charge Card

30 day payment terms.

Key Benefit

Instantly issue multiple company cards and set custom limits on each card.

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Designed for well-funded startups, the no-annual-fee Cape 30 Card requires no personal guarantee, has no FX Fees and offers dynamic credit limits that move in tandem with your company’s cash flow that are 10-20x higher than the traditional business credit cards

Frequently Asked Questions

A credit card is a way to borrow money. You use a credit card to pay for purchases just like you’d use your debit card. But, unlike a debit card where you spend the money deposited in your bank, with a credit card, you’re actually borrowing the money from a credit provider to pay for your purchases.

Credit cards are typically meant for borrowing relatively small amounts of money, usually ranging from $1,000 to $10,000, although credit limits can go much higher for those on high incomes.

Credit cards give you more flexibility in borrowing money. Instead of getting a lump sum of cash with traditional loans, credit cards give you a set amount of credit, and you can borrow as much as you need, within that amount.

You can then choose to pay off the balance straight away, or in monthly instalments. If you pay via installments, you may have to pay interest on what you owe. Bear in mind, the longer you take to repay the amount, the more interest you might incur.

Business credit cards are specially-tailored to the unique needs of business owners. They make it easier for small business owners to separate business transactions from personal transactions giving them more control and visibility over the business’s spending. Some business cards may also offer rewards you can use for virtually free travel, expense management, and credit to grow your business.

  • Flexibility: A set credit limit can give you great control over how much your business can borrow. Some business cards offer longer payment terms and no preset spending limits boosting your cashflow and helping you focus on growing your business.
  • Increased visibility: Business cards help you streamline your business transactions and financial information. You can keep a track on your spending and use this information to manage your future transactions better. Business cards can be very helpful to demonstrate your business’s financial health for future borrowings.
  • Employee expense management: Some business cards can allow you to take out one or more employees’ cards. This is especially helpful in avoiding delays in payments and purchases for the business. You can manage the transaction history keeping track of all spending.
  • Business features: Business card providers may also offer business owners access to resources geared towards helping the business grow such as cashflow tools and business insights.

When applying for a business card, you might need to fulfil some criteria.

Personal criteria:

  • Be over 18 years of age
  • Be an Australian citizen or permanent resident
  • Have a good credit history with no record of bad debt or payment default

Business criteria:

  • Have an annual revenue of $75,000 or more
  • Have a valid ABN registered for GST
  • Have been trading for 12 months or more

Eligibility criteria specific to AMEX business cards

Spending Limit:

A credit card has a pre-set spending limit unlike a charge card which has no pre-set spending limit. However that does not mean you can spend unlimited with a charge card. The amount of purchases you can make with a charge cards are based on several factors and can be adjusted with time.

Repayments:

In the case of a credit card, you can choose to pay the whole balance in one go or make payments over time. There is usually a minimum amount you have to pay at the end of the month and any deferred payments will likely incur interest charges.  In the case of a charge card, you have to make the full payment at the end of each month.

 

 

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