If you’re travelling abroad, you may be looking for an international card that saves you money on exchange rates and conversion fees. There are many different...
Using a credit card for travel can be a convenient and practical way to manage your expenses while overseas. Many credit cards offer travel-related benefits, such as rewards points, cashback, and travel insurance, which can help you save money and make your trip more enjoyable.
Bendigo Bank has been around for just over 160 years and offers customers a range of credit cards that include some of these travel perks.¹ We’ll introduce you to one of these cards, the Bendigo Ready Credit Card, and get to know its features and application process.
|💸 Hold over 40 currencies in your account and spend at the mid-market exchange rate with the Wise Debit card while abroad.|
The Bendigo Ready Card is a credit card offered by Bendigo Bank that has no annual fee and comes with a range of perks including platinum travel features.²
This credit card is for customers looking for a credit card that will save them foreign transaction fees on overseas purchases and included travel insurance.² This card is only available to personal banking customers that meet certain eligibility criteria.³
One thing that commonly sets credit card and debit cards apart is the added features attached with credit cards. Here are some of the features and benefits that come with the Bendigo Ready Credit card.²
- No foreign transaction fees
- Travel insurance on journeys that last up to 90 consecutive days
- Extended warranty on eligible purchases made using this card
- Additional cardholders at no extra cost
- Fraud monitoring
- Access to digital wallet payments
- Up to 55 days interest free
Holders of this card will also have Mastercard's Zero Liability which is an added fraud protection feature by Mastercard. This feature protects you against being held responsible by Bendigo bank for unauthorised purchases made with your credit card.⁴
The Bendigo Ready credit card is not associated with any rewards scheme.⁵ However, customers will gain access to exclusive experiences and offers organised through Mastercard Priceless Cities. These offers are only available to eligible Mastercard card holders.⁶
Although you will be getting some great features with this credit card, there are cons to using this credit card. These include:
- High-interest rate on unpaid balances
- Fees incorporated with late payment fees, balance transfer fees, and cash advance fees.
- Extra ATM fees on top of cash advance fees
- No rewards scheme associated
It's important to remember that you will not be spending your own money when using a credit card on purchases. This can lead to possible debt, as well as consequences associated with missing payments or keeping a high balance owing that affect your credit score and your eligibility for further loan products.
|Read more: Credit cards with no foreign transaction fees in Australia|
This credit card comes with a minimum credit limit of $3000.²
As mentioned, this card comes with other fees that you should be aware of. Here is a breakdown of some of the common fees of the Bendigo Ready credit card.
|Fees*||Bendigo Ready Credit Card²|
|Points / cash back||No cashback or reward points issued with this card⁵|
|Minimum repayments||$10 or 3% per month, whichever is greater⁵|
|Local/Foreign ATM fees||19.99% p.a. + potential ATM fees|
|Interest/purchase rate||19.99% p.a.|
|Additional card holders||Free|
*As seen on 17th April 2023
When making purchases in a currency other than the Australian dollar, you’ll need to access an exchange rate for the conversion. The Bendigo Ready credit card uses the exchange rate supplied by Mastercard.⁷ Bendigo bank does not specify if any margins are incorporated or added to this rate.
Unlike applying for a debit card or basic transaction account, you will need to provide a few extra documents to prove your eligibility for a credit card. Here are the eligibility requirements and documents to have handy before starting an application.
To get a Bendigo Ready Credit Card, you will need to meet these basic eligibility requirements³:
- Be over the age of 18 years
- Are applying as an individual and not a company
- Are not currently bankrupt or insolvent
- Will be applying for the credit card in your name only
- Be a permanent Australian resident or citizen
- Receive a regular income
For individuals that are not permanent residents but on a visa, you can still apply but must ensure you have a valid visa subclass and have at least 12 months left on your visa. To prove many of these requirements, you’ll need to provide Bendigo bank with some documents. These include³:
- Valid identity documents including drivers licence or passport
- Employment information
- Proof of income documents including payslips, bank statements and any rental income
Existing customers can easily apply online, but new customers may need to present into a local branch if they cannot verify their identity online. The online application takes around 15 minutes to complete. Once submitted, you’ll get an outcome on your application within 60 seconds unless you are requested to provide further documents to Bendigo Bank.³
|Read more: Prepaid Debit/Credit Card Australia Compared|
After your application has been officially approved, you’ll receive your new Bendifo Ready Credit Card within 10 days.³
There are two things to keep in mind about this credit card before you apply. These relate to the included travel insurance and checking if some of Bendigo banks other products are better suited to your needs.
When it comes to the travel insurance included with this credit card, you should know that you’ll still need to meet some eligibility requirements to take advantage of its cover.
You will need to be under 76 years of age, have a return ticket from Australia, and have spent at least $500 toward the travel expenses using your Bendigo Ready credit card. It is important that you read all the insurance terms before setting off on any journey.⁸
Bendigo Bank also offers other credit cards that offer several perks, especially for those looking to save on foreign transaction fees. However, you should keep in mind that one of the key differences of the Bendigo Ready Credit card is the $0 annual fee.⁵
If you need to contact Bendigo Bank for any reason, or you can easily:
- Call 1300 236 344 from within Australia
- Call +61 3 5445 0666 from outside Australia
- Visit their website hereto find all of their contact methods
Phone lines are open Monday to Friday between 8am - 9pm and 9am - 8pm on Saturday and Sunday.
If you aren't confident that a credit card is what you’re looking for, but still want a card that saves you money when travelling, why not check out Wise.
Not only can you use your Wise Account to hold and convert over 50 currencies, but you can order your own Wise Debit card to connect to your Wise Account and spend online or overseas at the mid-market rate — just like the one you see on Google.
Forget unexpected international transaction fees or high conversion rates, say hello to the world with the Wise Account.
- Bendigo Bank history
- Bendigo Ready Credit Card Info
- Bendigo credit card eligibility
- Mastercard Zero Liability
- Mastercard priceless cities
- Bendigo Bank card fees
- Bendigo credit card exchange rate
- Bendigo Bank travel insurance eligibility
Sources checked on: 17 April 2023
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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