Hume Business Credit Card – Unsecured – Rates & Fees

Information verified correct on October 1st, 2016

Get a business credit card that rewards spending and offers up to 55 interest-free days on purchases

The Hume Unsecured Business Credit Card works like any other conventional credit card, where you don’t have to provide any kind of security to apply. This card comes linked to Hume’s loyalty program, where you earn loyalty points upon making eligible purchases. Use the card in the right manner and you can get up to 55 interest-free days on purchases. You have to pay a nominal annual $40 fee, which is subject to waiver.

Product NameHume Business Visa Unsecured Credit Card
Rewards ProgramHume Loyalty Program
Purchase rate (p.a.)13.60% p.a.
Annual fee$40 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)17.95% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$5,000
Minimum Monthly Repayment3% or $10, whichever is greater
Card TypeVisa
Late Payment Fee$20
Foreign Currency Conversion Fee (VISA)2.85% of transaction value
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$5,000
Annual Fee$40 p.a.
Minimum Repayment3% or $10, whichever is greater
Late Payment Fee$20
Foreign Currency Conversion Fee (VISA)2.85% of transaction value
Number of Additional Cardholders9
Rewards ProgramHume Loyalty Program
Rewards Points per $ (VISA/MC)1
Points ExpiryNever

Hume Business Credit Card – Unsecured Review

If you’re looking for business credit cards for your employees, this card could fit the bill. You can, for starters, get up to 9 cards under a single account, and you have the ability to set limits for each card. The fact that your business expenses result in rewards is a plus, and cardholders can use up to 55 interest-free days on purchases to good effect. To further your business awareness, Hume personalises these cards for you.

Benefits of Hume Business Credit Card – Unsecured

  • Hume’s loyalty scheme

    This loyalty scheme is easy to understand and does not place limitations on how you can redeem your rewards. Every dollar spent on eligible purchases earns one loyalty point, and you can get these points to credit to your nominated credit card account or a Hume’s savings account. The transfer of loyalty points takes place once every six months, and you get one Australian dollar for 500 loyalty points.

  • Competitive purchase rate

    This card charges a competitive interest rate on purchases, which currently stands at 13.6% p.a.

  • Comprehensive reporting

    You receive individual statements for all cards linked to the primary account, giving you detailed information about transactions made using each card.

  • Personalised cards

    Hume Unsecured Business Credit Cards come with your business name embossed on them, while also carrying the name of the individual cardholder. Each time an employee uses this Hume credit card, it helps spread the name of your business.

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Features of the Hume Business Credit Card – Unsecured

  • Annual fee - An annual fee of $40 applies per account, but this fee is subject to waiver if the account’s previous year’s total spending exceeds the predefined spend hurdle of $24,000.
  • Interest-free days - You can get as many as 55 interest-free days on purchases by paying the account’s closing balance completely before each due date.
  • Additional cards - You can get up to 9 cards linked to a single business credit card account. Every cardholder should be at least 16 years old and a Hume customer.
  • Credit limit - Hume Secured Business Credit Card comes with a minimum credit limit of $5,000. The maximum limit depends on the business’ ability to make repayments.
  • Access funds anywhere, anytime - Visa is accepted internationally, so cardholders can use this card just about anywhere; you simply have to look for the Visa logo. This card can also be used to make online and over-the-phone purchases and bill payments.
  • Individual limits - As the primary account holder you get to decide each card’s credit limit, and the total cannot exceed the account’s credit limit. You have the ability to make changes to individual limits at any time.
  • Visa Entertainment - This online platform allows cardholders to access a number of special entertainment offers, which include pre-sale tickets to events.
  • Verified by Visa - Upon the use of your credit card details online, this service works as an additional layer of defence.
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How to apply for Hume Business Credit Cards – Unsecured

Visiting a Hume branch is one way to apply. Another is to download an application and mail it or take it to any Hume branch once it’s complete. Bear in mind you have to meet the following application criteria:

Application Criteria:

  • You run an Australian registered business
  • The application is in the name of a company, partnership, trust, or sole trader
  • You are a customer of Hume Bank

To complete the application you have to provide some personal information, which includes the following:

  • Details of your business like its trading name, business structure, phone number, and address
  • Complete business and personal taxation returns from the last two years
  • Details of individual cardholders

While businesses can benefit by getting these Hume business credit cards with individual limits, know that you can find similar features in offerings by other banks. So it is good to take some time to compare a few business cards before making a decision.

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