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Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance

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Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance
Go to Deal
E5TOQUE on 06/12/2023 - 16:40 bendigobank.com.au (8759 clicks)
Last edited 10/07/2024 - 22:35

Bendigo Bank Ready Credit Card

This is a repost from the original deal here:
https://www.ozbargain.com.au/node/742184/

Remember OzBargain has their Wiki here for all cards similar to Bendigo Bank's Ready Credit Card.
https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…

This card could be good for people looking to go on overseas holidays over the xmas/ new year period and beyond.
It has some advantages other cards don't have like a lower minimum credit limit, joint accounts and travel insurance.

Joint Accounts Available

Bendigo Bank support joint credit card holders.
Joint account means the credit facility is opened under two peoples names. Not many banks offer this on credit cards.
https://www.finder.com.au/joint-account-credit-cards

BSB/Account Number linked to the card

Which enables you to send fast payments directly onto the card. No need to send money in via BPAY.
Not all banks support sending fast payments via BSB/Account No, so you will need to check with your respective bank.

Other features

  • Uses the Mastercard Exchange Rate (https://www.mastercard.us/en-us/personal/get-support/convert…)
  • 0% International Fee
  • $0 Yearly Fee
  • Joint accounts available (you apparently need to go into a branch to set this up)
  • $0 Additional Card Holder Fee
  • 90 Days Travel Insurance (inc cancellation cover)
  • Extended Warranty on purchases
  • Purchase Protection on purchases
  • $3000 minimum credit limit

Bendigo Bank is also considered an 'ethical bank' with no investments in fossil fuel's according to Market Force:
https://www.marketforces.org.au/info/compare-bank-table/

Enjoy.

Financial Credit Card Insurance MasterCard Travel Insurance

Related Stores

Bendigo Bank
Bendigo Bank
MasterCard AU
MasterCard AU
Marketplace

Comments

      • punkel on 05/06/2024 - 16:30
        +1

        The benefits were transferred over to NAB - same as CitiBank

    • Dealsguri on 06/12/2023 - 18:46
      +4

      If you are looking for debit card, try Ubank (Owned by Nab). No transaction fee and overseas ATM fee
      if you are looking for credit card, try Bankwest Zero platinum card. No Annual or foreign transaction fee + free insurance + all mastercard platinum benifits
      Credit cards are always safe because if you loose your card overseas or someone use your card, you can just dispute.

      • Gavman on 06/12/2023 - 18:52

        Do Ubank change currency conversion fee? Or do they convert at a commissioned rate?

        • Dealsguri on 06/12/2023 - 18:53
          +1

          No, they charge spot rate by visa.

      • bobz79 on 06/06/2024 - 01:50
        +1

        From 3 September 2024, we'll be removing the complimentary overseas travel insurance as well as other insurances cover from Bankwest Zero Platinum credit cards!
        https://www.bankwest.com.au/help/cards/credit-card-changes

        • sav11 on 07/06/2024 - 17:09
          +1

          Damn, that's disastrous. It was the last card I had that still had travel insurance. Might have to actually buy insurance for the next trip!

    • StingyGeek on 06/12/2023 - 20:13
      +8

      I am going to the US this month. I have been trying to find out which ATM's are the best ones to use regarding fees, to draw cash, but have been unable to find info online.
      I am taking:
      1) Ubank visa debt (Good for shopping at Costco USA as they do not take MC!)
      2) Up debit Card (MC)
      3) Macquarie debit (MC)
      4) Citibank debit (MC) ( the one you can not get anymore and stops working on 24 Feb 2024)
      5) and hopefully, the NAB card being issued to replace the Citi card (if it arrives in time.)
      My plan is to see which one is the best one for drawing cash.
      ALL of these cards have Zero annual fee, zero forex fee, zero foreign ATM fees, and use the MC or Visa exchange rate.
      The only unknown fee is what the ATM operator may charge to use their ATMs. This is what I want to find out.
      I promise to report back to the Ozbargain community on my findings.

      Other than that, I have the Combank Ultimate Credit card as my primary CC and the 28º card as a backup. (both MC, both zero forex fee, both MC exchange rate)

      Not directly related to your question whatsavage, when you travel get yourself an eSim for your phone. Cheaper and/or easier than other options such as Roaming or using a local sim. (I use Airalo) There is plenty of info on Ozbargain about this.

      • The king on 07/12/2023 - 14:25

        @StingyGeek I have maple leaf lounges for sale to use US and domestic, let me know if you’re interested. TIA

  • KaitoKid1412 on 06/12/2023 - 16:55

    Is the exchange rate for this card just the MasterCard rate, or does Bendigo Bank apply an extra margin?

    • E5TOQUE on 06/12/2023 - 16:57
      +1

      From comments I've seen online Bendigo Bank use the Mastercard rate you see here:
      https://www.mastercard.us/en-us/personal/get-support/convert…

      I can personally confirm that UP Bank also uses the mastercard rate (I've personally cross checked that one)

      • pizzaguy on 06/12/2023 - 17:02

        With 0% International Fee (as opposed to eg. CommBank having 3% fee), that would make it absolutely comparable with Revolut. For the most popular currencies at least.

      • KaitoKid1412 on 06/12/2023 - 17:15

        Thanks for the reply!

    • Gavman on 06/12/2023 - 18:46
      -1

      You find all banks will pass on some sort of currency / margin for exchange rates. No one will give you pure Spot Rate.

  • askvictor on 06/12/2023 - 16:59
    +4

    This also has rental vehicle excess insurance even if you're not interstate (a lot of credit cards rental insurance only applies interstate/overseas). For zero fees this alone makes it pretty useful.

    • N B on 06/12/2023 - 20:15

      Which credit card would be best if you are going to rent vehicle overseas considering no annual fee & no international transaction fee and also has better rental vehicle related insurance cover?

      • askvictor on 06/12/2023 - 22:42

        No idea sorry

  • TaurusHead on 06/12/2023 - 17:03

    0% International Fee

    this means if I use the card in different country or online transaction for Non-AUD currency then there won't be any currency exchange fee?

    • rlf on 06/12/2023 - 17:08
      -5

      Yes but they still will use their own FX rates which are often juiced compared to current market rates.

      • jeefbeef on 06/12/2023 - 17:23
        +2

        This is just not true - if Bendigo uses the official Mastercard rates (like Bankwest and 28 Degrees) then they are essentially the best rates you can get on purchases in foreign currency.

        Certainly way better than the rates used for cash conversions or travel money options.

          • toomuchdogfur on 06/12/2023 - 18:55
            +4

            @1st-Amendment: The CBA Travel Money card uses their own exchange rate table, which is noticeably worse than other options like cards using the MasterCard exchange rate or the Wise debit account (which allows currency preloading like TMC does).

            For example as of right now, the TMC load rate for USD is $USD0.6318 per $AUD1, so loading $USD1,000 will cost $AUD1,582.78.

            For the same amount, Wise converts at the spot rate of $US0.6591 + $AUD7.28 fee = $AUD1,524.50. That is $58.28 or 3.7% less than TMC!

          • jeefbeef on 06/12/2023 - 22:33
            +1

            @1st-Amendment: Please provide an example based on your experience which gives a better exchange rate at the current spot rate.

            The second point isn't even relevant - I'm surprised you didn't just say you exchanged the cash in 2010 when AUD / USD was parity, and "where can I get that rate now?".

            You said any place that offers "no-fee" will have crap rates, which is clearly not true for the Mastercard rate. If you had used the Mastercard rate the last time to the US, you would've gotten a better result than travel money. You can then decide to get some additional USD via travel money if you were "anticipating a drop".

            Of course if you time the market you can always try to get a better rate, but the flipside is you can get a worse rate too.

            • 1st-Amendment on 07/12/2023 - 08:13
              -3

              @jeefbeef:

              Please provide an example based on your experience

              I did exactly that above, can you read?

              which gives a better exchange rate at the current spot rate.

              I specifically said that the advantage of travel money is that you have the choice of WHEN you buy into a rate, but you chose to ignore that…

      • E5TOQUE on 06/12/2023 - 17:29
        +1

        They use the Mastercard exchange rate.
        It’s very close to the actual exchange rate.

    • Asti on 05/06/2024 - 18:53

      There are no exchange fees, but the other thing to consider is the buy sell spread.

  • JohnHowardsEyebrows on 06/12/2023 - 17:10

    How do people fare with approvals for Bendigo credit products? I've had zero success with them and their subsidiairies (Tic Toc), and suspect being a credit card churner is the reason.

    • Brick50 on 06/12/2023 - 18:01
      +1

      Bankwest Zero Platinum offer the same thing, and I found they were great at approvals. Got called up next morning after applying for a couple questions from the local call centre and got approved a few mins after

      • evgpek on 06/12/2023 - 19:20

        Min 6k limit though

      • onlybargains on 07/12/2023 - 06:54
        +1

        I haven't read the PDS yet, but Bankwest reduced their level of complimentary insurance a while back.

        So Bendigo may have an edge on them here

        • onlybargains on 07/12/2023 - 07:05

          OK, I have read (skimmed through) the PDS and it looks like for my needs Bendigo's insurance is much better than Bankwest.

      • souths123 on 05/06/2024 - 19:51

        only trouble with them now is they are stopping the travel insurance after 1st week Sept

    • dbnewman89 on 05/06/2024 - 18:01
      +2

      Myself and 4 friends have applied, 3 were approved. We all applied with 5/6k limits with excellent credit ratings (1 enquiry in 12m, stable positions, stable incomes, minimal liabilities).

      45k salary casual - no other lines of credit Denied
      55k salary FT perm - one other 5k card Denied
      65k salary FT perm - no other lines of credit Approved
      80k salary FT perm - no other lines of credit Approved
      125k salary FT perm - one other 6k card Approved

      • timhn on 06/06/2024 - 14:41

        I see myself out. Got 4 cards under my bell right now.

  • lawyerz on 06/12/2023 - 17:29

    Would you replace 28 degrees with this card as the default international credit card?

    • E5TOQUE on 06/12/2023 - 17:31
      +1

      Depends which 28 degree card you have. If you have the card from years and years ago with that price protection insurance, I doubt you would give it up.

      For anyone else, this seems to be the better card.

      • lawyerz on 06/12/2023 - 17:55

        oo. it was rejected - "did not meet credit guidelines". waiting to churn a few cc so holding more credit cards than usual. might try again at some later time to replace my 28 degrees.

  • triggerr on 06/12/2023 - 17:33
    +1

    Can anyone comment on the application process please?

    • st1ng on 06/12/2023 - 22:59

      Pretty straight forward when I applied two months ago. Only issue I had was my application was too long, so wasn't able to log in. A quick call sorted out that issue.

  • Appox7 on 06/12/2023 - 17:36

    so this or wise?

  • SuperCyp on 06/12/2023 - 17:38

    Okay, I've never had a credit card - I'm looking to travel in May. The travel insurance could be useful for me.

    Is this essentially a no cost card? In that if the balance is at $0.00 you don't have any fees at all? Is there anything I should be aware of when owning a credit card?*

    Edit: *besides paying off the balance before accruing interest.

    • Brick50 on 06/12/2023 - 18:00
      +5

      Yes there is no cost as long as you pay off your balance at the end of each statement period. Nothing you need to be aware of except for the fact it is easier to buy something with a credit card as you don't have to think about whether you have the money in your acct or have to transfer money across etc.

      If you aren't financially mature/sensible you can definitely end up spending more than you would have before having the CC

      • SuperCyp on 06/12/2023 - 18:05

        Awesome, thanks for that! I wasn't sure if there were other monthly fees or rates that aren't clearly listed.

  • Duckie2hh on 06/12/2023 - 17:41

    What do people use for withdrawing cash from foreign ATMs?

    • Poor Ass on 06/12/2023 - 17:43
      -3

      you don't

      • lawyerz on 06/12/2023 - 17:56
        +3

        You definitely do.

        • Poor Ass on 06/12/2023 - 17:57

          well try to avoid it

          • lawyerz on 06/12/2023 - 17:58
            +3

            @Poor Ass: It's my primary method to get cash if you're at a destination that needs cash, beats money changer every time.

            • Poor Ass on 06/12/2023 - 18:01
              -2

              @lawyerz: negative

              if you know a reputable money exchange at the country it usually has better rates

              but if you use your card it's no fuss no fake money and more convenient

              I guess what I mean is there is no one method that wins everytime

              • Naigrabzo on 07/12/2023 - 09:47

                @Poor Ass: Hmm. This is all good and well but how in the world would you know a reputable money exchange when travelling? Trustpilot reviews??

                • Poor Ass on 07/12/2023 - 10:47

                  @Naigrabzo: can be hard but those that get a lot of positive mentions wouldn't be too bad

                  but if you were in a dodgy country I'll try to avoid

                  • Naigrabzo on 07/12/2023 - 11:44

                    @Poor Ass: yeah this is my problem. If I am in dodgy country I can't trust neither ATMs nor money exchange… HAHA.

                    • Poor Ass on 07/12/2023 - 11:47

                      @Naigrabzo: lol maybe walk into a reputable bank that looks legit haha

                      or take cash over and get robbed by corrupt customs / cops

                      • Naigrabzo on 07/12/2023 - 11:48

                        @Poor Ass: I know right. Corrupt customs are so scary. Had one in Cambodia who wanted USD and kept me in the queue for a long time for no reason.

                        • Poor Ass on 07/12/2023 - 11:52

                          @Naigrabzo: ya that's where all the murderers go to hide

                          what was the going rate USD for customs now?

                          • Naigrabzo on 07/12/2023 - 12:29

                            @Poor Ass: So he wanted me to pay and put it in the passport and hand it to him.

                            Honestly I only had 5 bux in my wallet (Ozbargainers should only have velcro wallets). So I gave him that. He wanted more but I didn't have. He eventually let me go.

                            He was very surrepticious though.

                            I think I was very naive throughout the whole situation. I was a bit shaken afterwards.

                            • Poor Ass on 07/12/2023 - 13:35

                              @Naigrabzo: Just makes us feel how good we got it here

                              • Naigrabzo on 07/12/2023 - 14:27

                                @Poor Ass: AGREE! Every time I return home, I am so F#$%^ happy.

                                Some of my travels are just to illustrate to kids (and my self) how good we have it here.

    • PiperDan on 06/12/2023 - 17:46
      +2

      UP card. Signed up, card in my apple wallet and transferred money across in less than 10 minutes.
      https://up.com.au/features/cards/

      • Naigrabzo on 07/12/2023 - 11:46

        what's UP card? ;)

    • ozchobie on 06/12/2023 - 17:50

      ING or ubank.

    • lawyerz on 06/12/2023 - 17:56
      +1

      ING, Up card, Ubank, Citibank - in that order

      • Gavman on 06/12/2023 - 18:51
        +1

        Ubank:
        Using your card overseas or online
        Card purchases and ATM cash withdrawals

        Free
        Some ATM operators may charge a fee

        1) Do they charge fee for currency conversion or just convert at commissioned rate?
        2) Would this mean main/local banks are the free ATMs and just third-party ATM charge fee?

        • lawyerz on 06/12/2023 - 19:50

          1) they just convert at whatever the current rate is - whenever I checked, its better than money changers and far more convenient.
          2) depends on the bank - some banks charge an ATM fee for any other card other than their own card, just like Australia did not too long ago. Some don't.

          ING - if you meet their increasingly annoying requirement the month prior, gives you 5 fee-free ATM withdrawal, they rebate you any 3rd party atm fees.

      • d351 on 07/12/2023 - 13:23

        Curious to know why you have left the Macquarie Bank Platinum Debit card out? I thought that was a good option as well? $0 FX fees, $0 ATM Fees, including International (albeit Operator fees are not covered, same for ING) ?

    • twistedbow on 06/12/2023 - 18:14

      depends on the country. Check the fx rate at local fx changes and mastercard/visa fx rate.

    • antirealist on 07/12/2023 - 11:13
      +2

      It's a little complicated. Lots of cards (see those recommended elsewhere in the comments) are pretty good, e.g. UP, Wise, Maquarie (what I use), all have small pros and cons, all have no foreign ATM fees (as charged by the card itself) and use the visa/mastercard rate (as good as you'll get).

      Some ATMs in some countries will charge an additional fee, which is hard to avoid (I think some cards e.g. 28 degrees might offer to reimburse for these fees but IDK I've never tried). The last places I travelled are Indonesia (no fees for any of the ATMs I used) the US (no fees), Mexico (no fees), and the Phillipines (every ATM charged a flat fee so the play was to find the ATMs with the biggest withdrawal limit). All of that comes down to the bank you withdraw from so it's subject to change.

      I strongly disagree with the commenter recomending money changers. Maybe there are some countries where this is true but in general they charge a much worse spread than mastercard/visa.

      • StingyGeek on 08/12/2023 - 15:37

        You mentioned you use the Maquarie card. I have recently got one and plan to use it in the US to draw cash. Can you tell me which US ATMs had no fee?

        • antirealist on 11/12/2023 - 09:28

          Hi stingygeek. So I tried to look into it, and am now worried that I might have misremembered the US experience. In retrospect I believe there were fees (something like a few dollars), but I was able to withdraw large amounts (e.g. 1K US) which made the fee a small percentage.

          In terms of what ATMs to focus on in general, I previously had a citi card and found this resource very handy. I'm not sure whether other cards (e.g. Maquarie) are exactly the same in terms of ATM fees as citi was but it wouldn't surprise me if ATMs had a consistent 'foreign card fee' which is the same for every card, in which case this info might actually generalise decently. https://whirlpool.net.au/wiki/citibank_plus_transaction_acco…

    • legelas on 15/02/2024 - 12:58

      Yes with debit card. Big no no with credit card :)

  • Scrooge McDeal on 06/12/2023 - 17:44

    @E5TOQUE do you know until this offer it's valid? Or it's unknown? I mostly likely will travel next year so this deal looks very good.
    And thanks for posting. 👍

    • E5TOQUE on 07/12/2023 - 09:20

      Its been out for about a year. I am guessing this credit card is a product Bendigo Bank will be keeping around for a while yet.

  • Brub on 06/12/2023 - 17:47

    Which is better? This or the Bankwest Mastercard Zero Platinum card? They seem to offer the same thing…?

    • npnp on 06/12/2023 - 18:08

      I would like to know this too (have been using Bankwest zero platinum for few years and can't recommend that enough.) Although the insurance isn't the best (i.e. NAB credit card insurance is much better than Bankwest one)

      • Brub on 06/12/2023 - 18:13
        +1

        From what I could glean from another poster:

        Pros

        • 90 days travel insurance (vs. 31)
        • $3000 minimum limit (vs. $6000)
        • Extended Warranty on purchases
        • Purchase Protection on purchases

        Cons
        - Minimum $500 spend on travel expenses to activate travel insurance

        I don't know if that's worth the hassle of opening/closing a new card though.

      • Poor Ass on 06/12/2023 - 18:21

        but NAB credit cards mostly have international fees now and $500 to activate for international insurance coverage

        • fozzie on 06/12/2023 - 20:17

          Anz only $250. I have the rewards one which is about $70 a year (which I mostly earn in points).

  • ozchobie on 06/12/2023 - 17:50

    We recently applied and used this card for our Japan Trip last month. Great card for the added free insurance. We only prepaid one of our hotels via Agoda to activate the insurance early on.

    Only gripe is the app lacks basics features like in and out transaction notifications.

    For atm cash withdrawals, we use our ING card.

    • KaitoKid1412 on 08/12/2023 - 09:09

      Does it tell you if insurance is activated, or do you have to keep track yourself?

      • ozchobie on 08/12/2023 - 09:44

        Nah as soon as you spend at least 500 towards the trip, the insurance is implied.

  • epicttiimm on 06/12/2023 - 17:55
    +11

    My Ozbargain travel tips:

    • Use AMEX for booking and their Travel Insurance (tends to be the best).
    • Use a Mastercard/Visa Credit Card with no FX fees. Even better if your no FX card (1) earns points, and (2) has a sign on bonus. The Commbank Ultimate Awards and Bankwest Zero Cards come to mind. Use this for all purchases overseas. You might meet enough minimum spend for a few thousand FF points towards your next holiday!
    • Use a debit/travel card with no FX withdrawal fees for cash. You can either use a card which you can pre-convert currency (Wise, HSBC, Revolut etc) or just convert on the fly with other cards (Ubank, UP, etc). Up to you to predict on the exchange rate.
    • npnp on 06/12/2023 - 18:11

      I have AMEX but their eligibility requirement kills the benefits of the travel insurance. NAB has similar insurance but eligibility criteria is much better (plus much less annual fees).

      My quick recommendations:

      1) NAB signature card for insurance
      2) Bankwest zero platinum for credit card transactions
      3) ING for cash withdrawals + any debit card requirements

      • fozzie on 06/12/2023 - 20:18

        Check Anz, I think they are the best.

        • npnp on 06/12/2023 - 20:22

          ANZ and NAB has same insurance I believe. But who wants to deal with ANZ credit card application? No thanks for that experience.. lol. If you have an ANZ credit card, good on you..

          • fozzie on 06/12/2023 - 21:43

            @npnp: I didn’t know it was hard to get a credit card with them. It has been very easy for us.

    • huntingforbargainz on 06/12/2023 - 20:44

      What's FX?

      • jaydisc on 07/12/2023 - 08:03
        +1

        Foreign Exchange (currency conversion)

    • OzFrugie on 06/12/2023 - 23:04

      Thanks for the tip!

      Interested in Commbank Ultimate Awards but noticed its only fee free if spend at least 4k per month.. big requirement, otherwise have to cop $35 fee pm which is quite steep..

      Bankwest Zero does not have reward points, does it?

      Atm im using 28D and Wise/Revolut..

  • Brick50 on 06/12/2023 - 17:58
    +6

    Is this really a deal considering Bankwest Zero Platinum offers the same thing, it's more an everyday price rather than a deal or hack.
    The other benefit is they run on WA time so you have more time to contact them in the afternoon

    • souths123 on 05/06/2024 - 19:53

      no free travel insurance after sept this year though

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