Two Possible Alternatives to Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance

HeWhoKnows on 03/10/2024 - 19:23
Last edited 15/10/2024 - 09:16

Just posting two great alternatives to the Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance.

EXECUTIVE SUMMRY

Other than the popular Bendigo Bank Ready Credit card……..

If you are still looking for a credit card with:
a) NO ANNUAL FEE
b) Complimentary Travel Insurance and
c) Rewards/Points programs

Then check out:
1) The HSBC Premier World Mastercard and
2) The BankVic Qantas Visa card.

Both have specific qualification criteria so check these out.
Both include Complimentary Travel Insurance
Both include Rewards programs (which the Bendigo Ready Credit Card does NOT include)
However both do charge foreign exchange fees ….
Suggest you use alternative cards with no foreign exchange fees when travelling overseas - plenty around!

THE BACKGROUND FOR THIS POST AND THE DETAILS

Many OBers have complained about being unjustifiably unsuccessful or the painful application process or the long time to receive an approval or the fact Bendigo bank granted them a much lower credit limit than they had on thier previous credit card.
Yes some OBers got through without a hitch and congratulations to all of you that did. You were certainly the LUCKY ONES!

The main draw card of the Bendigo Bank Ready (Platinum) Credit card is that is a great alternative to the now very much less attractive Latitude 28 Degrees MasterCard and the Bankwest Zero Platinum Mastercard..

In fact the Bendigo Bank Ready (Platinum) Credit card WAS IDENTICAL in almost every way to the BankWest Zero Platinum MasterCard before Bankwest stripped out all its wonderful Platinum Insurances, including the Complimentary Travel Insurnace.
All thats left now is zero annual fee and fee-free foreign exchange transactions which is standard on many decent MasterCard and Visa debit cards
eg HSBC Global Visa debit card, uBank Visa debit card, Macquarie Platinum Debit card and BankWest Platinum Debit Card.

Latitude Financial have now introduced an $8/mth monthly fee whilst thier interest rate is whopping 27.99% making it probably the highest in Australia. Two great reasons to ditch Latitude and switch to another card with no annual fee and offering complimentary travel insurance amongst some other attractive features.

So other than the Bendigo Bank Ready (Platinum) Credit card, what are your other options for a zero annual fee (ongoing) credit card that offers complimentary travel insurance amongst some other nice benefits?

Thats the question everyone wants to know, right?

1. HSBC Premier World Mastercard

This one is rather limited in accessibilty because you must have at least A$150,000 invested with HSBC (in any currency) or depositing $9,000/mth into one of their bank accounts for at least 6 months - i.e. you must qualify as a "HSBC Premier Customer"…

If you do, this is what you get:
- Zero annual fee
- Full suite of Platinum credit card insurnaces including Complemtary Travel insurances
- Choice of HSBC Rewards Plus or Qantas Rewards programs
- Minimum $10,000 credit limit
- up to 55 days interest free
-19.99% interest rate
- 2 airport lounge passes every year with Mastercard Travel Pass
- over 4,500 ways to save when you get the HSBC Instant Savings app
- easy, straight forward application process for HSBC Premier Customers
Other than the very tall qualification criteria, the only draw back is that you pay the 3% Foreign exchange fee.
But no problem because HSBC will give you a free Visa Global Debit card with thier Everyday Global Account - which actually comes with Zero Foreign exchange fees!

OK The HSBC Premier World Mastercard is not for me I hear you say.
What else have you got?

2. The BankVic Qantas Visa card

NB: BankVic is formerly the Police Credit Union VIC
This credit card is for exclusively for TPAV and VAU members (Victorian police and ambulance Union members).

This is what you get with this card:
- Zero annual fee
- Complemtary International Travel insurance
- Qantas Rewards program
- Minimum $5,000 credit limit
- up to 55 days interest free
- 18.95% interest rate
Other than the Vic police and ambulance employee requirements the only draw back is that you pay a (lower) 2% Foreign exchange fee. So just pair up with one of the debit cards mentioned above which include free foreign exchange transactions.(there are probably more)

P.S. NAB have just increased thier foreign exchange fee to 3.5%. Probably the other major banks will follow suit.

Please let us know your thoughts and if you have been successful in your application for this BankVic Qantas Visa card.

Financial Credit Card

Related Stores

BankVic

Comments

Gdsamp on 03/10/2024 - 19:31

+5

Probably should be a forum thread……
- Gdsamp on 03/10/2024 - 19:44
  
  yeah Godspeed to the travel insurance
  the Bankwest Easy Transaction account has no overseas transaction fees, no account fees either.
  - randomusername2017 on 04/10/2024 - 06:54
    
    +1
    
    TLDR
- SBOB on 03/10/2024 - 22:33
  
  +3
  
  In true op fashion, agreeing with you because it's the first post, and adding similar words that don't add much content like 'this post should definitely not be posted as a bargain'
  
  I think I did it right.
  - 2025 on 04/10/2024 - 00:26
    
    I think I did it right.
    
    Nailed it
  - brendanm on 06/10/2024 - 20:40
    
    Perfection.
Lucille Bluth on 03/10/2024 - 19:32

+2

Forum post.
- HeWhoKnows on 03/10/2024 - 22:27
  
  The original Bendigo Bank Ready Credit Card post is listed as a LONG RUNNING "DEAL"
  Hence as this is retated it was posted as an "alternative deal"
  
  I dont mind whether its a forum post or deal
  
  Minor technicality - easily rectified if need be
MS Paint on 03/10/2024 - 19:33

+9

This is a PSA or forum thread.

OBers

A wall of text and you couldn't spell out ozbargainers? Please.
- HeWhoKnows on 03/10/2024 - 22:31
  
  You know what I am talking about so the abbreviation used (which is commonly used here) is correct.
  
  Now pls stick to the subject.
  
  Your contribution and wisdom as a regular poster would be most appreciated.
  - MS Paint on 03/10/2024 - 22:39
    
    +1
    
    (which is commonly used here)
    
    Really. The last time it was used in these forums, according to the search function, was in February.
askbargain on 03/10/2024 - 19:51

Disagree

If you don’t need travel insurance included in card: BankWest

If you do: ING with 6k credit limit. Small hoop to avoid international transaction fee

Or just use a debit card? If you have big holds, just use AMEX (ask a friend to be an additional user)
- HeWhoKnows on 03/10/2024 - 22:32
  
  Link to the ING card and brief outline pls
  Sounds like it could be another good alternative
  - R-Man on 04/10/2024 - 05:16
    
    https://www.ing.com.au/credit-cards/orange-one.html
    https://www.ing.com.au/credit-cards/orange-one-platinum.html
    
    Included both links because when I applied for the lower card, in the process I was bumped up to Platinum for free, which includes travel insurance but won't give you cashback
    - HeWhoKnows on 07/10/2024 - 15:14
      
      -3
      
      Sorry but you have it wrong:
      
      The ING orange card is free but only offers free foreign transaction fees IF AND ONLY IF:
      1) you deposit $1,000+ each month to any of your ING accounts (excl Living Super and Orange One) AND
      2) make 5+ card purchases that are settled (not pending).
      
      FREE Cards with no foreign exchange fees and WITHOUT ANY CONDITIONS are a dime a dozen including the forementioned BankWest Zero Platinum Mastercard.
      So the ING orange card is a REJECT for me because its subject to qualification criteria that applies to no other card.
      
      The ING platinum card with rewards and complimentary travel insurance has an annual fee of $149.
      So that one is also a REJECT for me because its NOT FREE.
      - R-Man on 08/10/2024 - 00:16
        
        @HeWhoKnows: How new are you to Ozbargain? Everyone knows about the ING steps you've listed, and, the commenter you replied too even mentioned "small hoop to avoid international fee"
        
        You replied "sounds like it could be another good alternative". You were correct there.
        
        The ING platinum card with rewards and complimentary travel insurance has an annual fee of $149.
        So that one is also a REJECT for me because its NOT FREE.
        
        How did you write this with a straight face after my comment said:
        
        Included both links because when I applied for the lower card, in the process I was bumped up to Platinum for free, which includes travel insurance but won't give you cashback
- soan papdi on 03/10/2024 - 22:34
  
  ING is 40 days travel insurance but Bendigo is 90 days. May not matter to most but worth remembering. Also Bendigo is $500 person spend requirement. So family of four means $2000 to trigger the insurance cover
  - HeWhoKnows on 07/10/2024 - 14:21
    
    -2
    
    Yep and $500 usually doesnt even cover the airfare per person so its not an issue
    The $500pp requirement also includes accomodation expenses and that alone would typically come to $2,000+
    
    The $500pp expenditure is a standard requirement with most credit cards that include complimentary travel insurance.
    
    You should compare the travel insurance policies though as they are not the same.
    
    And, like Bankwest, ING can withdraw the travel insurance cover at any time because its not conditional on the $500pp expenditure. (happned to me and nothing i can do about it)
    
    PS The ING Platinum card attracts $149 annual fee so its NOT FREE
  - fozzie on 12/10/2024 - 15:04
    
    Hi do you know what is the criteria for ING? Minimum spend? Thanks
    - soan papdi on 12/10/2024 - 15:05
      
      No points, so no min spend. More like $1000 deposited per month and 5+ settled tap/online/insert transactions per month, either via the credit card or the attached everyday account. Direct Debits from the everyday account don't count.
      - fozzie on 12/10/2024 - 15:08
        
        @soan papdi: Hi sorry I meant for the travel insurance. It's $500 spent.
        
        soan papdi on 12/10/2024 - 15:15
        
        @fozzie: Not to my knowledge. If you have $6000 credit limit, then you have travel insurance. ING I think is $500 of the travel cost. Read the PDS to be sure
        
        fozzie on 12/10/2024 - 15:23
        
        @soan papdi: $6000 is that for Bendigo? Thanks
        
        soan papdi on 12/10/2024 - 15:28
        
        @fozzie: ING
        - min limit is $6000 to get insurance (paid or free card), becomes a Platinum card. Applies to free and paid card.
        - $1000 deposited per month and 5+ settled tap/online/insert transactions per month to get 0% intl txn fee (applies to the free card only)
        - insurance only lasts 40 days
        - $500 to trigger insurance
        
        Bendigo Ready Credit (specifically this card)
        - min limit is $3000
        - min spend is $500/person to trigger insurance, so family of four needs $2000 on the card
        - standard 0% intl txn fee, no gymnastics required
        - insurance only lasts 90 days
        
        Read the PDS before you decide, don't take anyone's word at face value
        
        fozzie on 12/10/2024 - 15:30
        
        @soan papdi: Thanks so much! I might go for the ING as I need to include family (one dependent).
ruprectaus on 03/10/2024 - 20:26

+8

the only draw back is that you pay the 3% Foreign exchange fee.

Wtf ? It's not anywhere like the same then? It's like saying the Macquarie Black Card has zero foreign exchage fees, points earned for free gift cards, travel insurance etc but the only "drawback" is $295 a year fee, which is waived if you have a home loan with them.
- 2025 on 04/10/2024 - 00:56
  
  Don’t forget the conditions - the first card is deposit 9k each month for 6 months or have 150k deposited at HSBC.
  
  And the second, you gotta be a cop or ambo in VIC lol.
  
  I’m actually wondering which is the smaller/bigger population here, ppl with 150k @ HSBC or Victorian Cops/Ambos
MS Paint on 03/10/2024 - 20:53

+4

I wonder if OP will come back in 24hrs and reply to the top thread of their own post with an executive summary of the replies ~~in an attempt to appear smart~~. Actually I have no friggin' idea why they do it.
- HeWhoKnows on 03/10/2024 - 22:35
  
  Read the heading of the post.
  
  You are too busy being critical and instead of making a valid contribution to the discussion in an "attempt to appear smart".
  
  Do you have something to say about these alternatives or do you have a recommendation to consider?
  - MS Paint on 03/10/2024 - 22:38
    
    +3
    
    I'll wait for your executive summary in 24 hours before I form an opinion on alternatives.
    - HeWhoKnows on 03/10/2024 - 23:00
      
      -2
      
      Read the heading of the post.
      - MS Paint on 03/10/2024 - 23:08
        
        +3
        
        @HeWhoKnows: Here's a deal.
        
        I'll read the heading of the post if you stop replying to the top thread of nearly every forum post.
        
        Let's shake on it.
soan papdi on 03/10/2024 - 20:59

+3

Two Great Alternatives to Bendigo Bank

Both of which have international transaction fees. For HSBC you have to remember to use the debit card instead. So not same at all.
- HeWhoKnows on 03/10/2024 - 22:50
  
  -1
  
  Not all cards are the same.
  So yes, they are not the same at all as I clearly pointed out.
  I said these were great "alternatives"
  
  The main feature of all these credit cards is the complimentary travel insurance for zero annual fee.
  
  However both of the alternative credit cards ALSO include highly sought after REWARDS programs which the Bendigo card doesn't have
  Again for ZERO ANNUAL FEE in case you missed that very important point.
  
  There are plenty of cards that offer no foreign exchange/transaction fees. In fact they are "a dime a dozen" as they say.
  
  And I have listed some debit cards that offer no foreign exchange/transaction fees, all of which are free!
  These are all linked to transaction accounts and you will definitely need one of those too.
  
  So your point is ??????
- 2025 on 04/10/2024 - 00:10
  
  Excellent point @soan papdi
DashCam AKA Rolts on 03/10/2024 - 21:19

+3

TL:DR.
- HeWhoKnows on 03/10/2024 - 22:55
  
  -2
  
  If you were interested in the discussion/subject you would.read everything
  
  This is not a ramble on about irrelevent facts pertaining to nothing.
  Or a long story short that is as long as a book.
  
  Wise OBers want to know all the facts when it comes to such credit cards and they read the fine print too.
  
  But thx for looking.
  - SBOB on 03/10/2024 - 23:06
    
    OBers
    
    Stop trying to make ~~fetch~~ Obers happen
    - cashless on 04/10/2024 - 07:23
      
      In Dutch ober means waiter.
      Quite what that has to do with zero fee bank cards, I don’t know. Maybe Hewillknow.
- 2025 on 04/10/2024 - 00:35
  
  +1
  
  TLDR: If you want fee free international transactions on your CC, look elsewhere and ignore the title of the thread.
  
  But, wait there’s more, looks we’re being asked to lie on the application if we aren’t a current or retired member of The Police Association of Victoria or a member of the Victorian Ambulance Union…
  
  Then in the drop down box for how you are eligible select: "Public Service"
- HeWhoKnows on 07/10/2024 - 15:16
  
  -1
  
  Addressed
  - 2025 on 07/10/2024 - 16:58
    
    There’s still the click bait title
    
    Two Great Alternatives to Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance
    
    Hoping for a fifth edit
2025 on 04/10/2024 - 00:15

+3

So is this you formally recommending the HSBC card and listing its conditions, a few weeks after you blew up at @Russ for pointing out the conditions? Really?
- HeWhoKnows on 07/10/2024 - 14:34
  
  -2
  
  Given that is the nature of this post.. YES.
  
  Both subject to qualification criteria as with all credit cards
parisian on 04/10/2024 - 08:21

+2

So you recommend a 'travel' credit card but no you cannot use it internationally as 3% is charged per international transaction as transaction fees so you recommend a fee-free debit card.

Makes no sense.

Just need to be patient with Bendigo - end of the thread.
- HeWhoKnows on 07/10/2024 - 14:40
  
  -3
  
  Makes perfect sense my friend.
  
  Many probably already hold a credit or debit card with no foreign exchange fees.
  Foreign exchange fees are typically only charged by the MAJOR banks.
  
  And many already have more than one card.
  
  Seriously you cannot rely on one card to do all jobs these days.
  Especially when you are overseas and your one card is rejected or blocked.
  
  So relying on ONE CARD makes no sense.
  
  But yes, be patient with bendigo Bank and good luck!
  I finally got my approval after some 5 weeks and regular communications with the staff and bank manager
  My brother who is as financial as I am, got rejected simply because he has a line of credit with St George bank….Seriously???? So he has given up on Bendigo Bank as have many others.
  Hence this post is for those that have become frustrated with Bendigo bank for one reason or another.
Shadowsfury on 04/10/2024 - 08:45

+4

The HSBC Visa Debit card uses their own exchange rates which are worse than cards which use Visa or MC rates. Not quite 3% worse like you'd be hit with paying the otherwise common forex fee, but still can do better.
- HeWhoKnows on 07/10/2024 - 14:43
  
  -2
  
  Hmm usually its the Visa rate as they control the transaction.
  
  Can you pls provide a link where you found this information.
  - leigh8904 on 08/10/2024 - 06:29
    
    Refer to https://www.hsbc.com.au/content/dam/hsbc/au/docs/accounts/tr…, pg 11.
    The HSBC foreign exchange rate is used for any of the 9 supported foreign currencies; the Visa exchange rate is used for any other currency. I think you will find the HSBC foreign exchange rate has a mark up over the Visa rate.
onetwothreefour on 04/10/2024 - 08:49

As a real OBer you should know there needs to be a tldr
- montorola on 04/10/2024 - 09:21
  
  +2
  
  TLDR; excludes 99% of us lol
Remorhaz on 04/10/2024 - 15:49

+3

Note that the HSBC Visa Debit is not exactly Zero Foreign exchange fees when compared with cards which use MC or Visa FX rates - it uses HSBC's own exchange rate which is not quite as good as Visa or MC rate (anecdotally it's perhaps the equivalent of a 1% FX fee)
- HeWhoKnows on 07/10/2024 - 14:44
  
  -2
  
  Id like to read up on this.
  Pls supply link to this information
pencilman on 07/10/2024 - 19:39

I found this quite helpful as planing to cancel Macquarie and Latitude cards due to the new fees. Made me look again at becoming HSBC Premier and getting the HSBC fee free credit card.
samfisher5986 on 08/10/2024 - 10:53

+1

I'm not sure how you can suggest the HSBC Premier World Mastercard and The BankVic Qantas Visa card based on the fees.

From my experience, random Australian companies use an overseas credit card payment processor which means you'll get stuck with a 3% fee. There is also a lot of overseas companies operating in Australia for Australian services, hotels, flights etc.

Its way too much effort to be researching every single company, asking them questions just to figure out if you might get charged.
- Nom on 08/10/2024 - 16:37
  
  +1
  
  THIS.
  
  If a card has an international transaction fee, then you don't want it. Choose a different card.
lgacb08 on 08/10/2024 - 13:28

Yeah, too much useless recommendation in this tldr, OP must've been in bed with HSBC to stick his gun with them. For the hassle you may be better sleep with cba and spend $2000/$4000 with them each month to get a free card with free travel insurance and zero international transaction fees. And the best part you can pretty much use the card almost immediately after being approved.
rocmelon on 14/10/2024 - 11:50

I am looking for a credit/debit card for travel. Already have Bankwest platinum
must have's

No annual fees
No International transaction fees
No international ATM fees
Good Travel insurance
If possible free hire car insurance
- parisian on 14/10/2024 - 14:52
  
  Bendigo B Ready except ATM withdrawals (cash advances).
  
  For debit card, up bank or Macquarie (Mastercard) + Ubank (Visa) for both card networks covered.