St. George business credit card. The limits, fees and need-to-knows

If you’re a business owner in Australia, you’ll know how important it is to have a convenient and easy-to-track system in place for expenses. Whether for yourself or for employees, setting up a business credit card is one of the simplest solutions for this.

With the majority of financial institutions offering a tailored business credit product, however, it can be challenging to know which one is best suited to the unique needs of your business.

St. George Bank is one of these and offers a variety of business banking solutions. First established in Sydney in 1937 and merging with Westpac Bank in 2008, St. George is a well-known name in the Australian banking sector.¹

In this article, we’ll take a closer look at St. George Banks BusinessVantage credit card and what it has to offer.

Let’s get right to it.

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What business credit cards does St. George Bank offer

St. George currently offers two business credit card options in addition to their everyday personal credit accounts. These are²:

• The Amplify Business credit card and
• The BusinessVantage credit card

The latter is the one we will be focusing on today.

Do you need a St. George Bank BusinessVantage credit card? Who is it for?

The St. George BusinessVantage is suited to a variety of business structures seeking a competitive interest rate and who may need access to multiple linked account cards for a large employee base. These include³:

• Sole traders
• Companies
• Incorporated associations
• Partnerships and
• Trusts

If accruing uncapped award points to spend or use towards travel is a priority and there is no need for more than 4 account cards, the Amplify Business Rewards card may be better suited.⁴

What are the main features and benefits of this credit card?

The St. George BusinessVantage credit card offers a variety of benefits to business owners including³:

• Competitive interest rates on purchases and cash advances
• Up to 55 days interest-free on purchases
• The option to have up to 99 additional cards linked to the main account, each with individual card limits
• Being suited to a variety of business structures
• Easier expense reporting thanks to detailed statements and the option to consolidate these into departments and/or divisions
• Complimentary business-related insurance to cover unauthorised transactions

The cons of using this credit card

The St. George BusinessVantage credit card may not be suitable for everyone.

• It offers no rewards or perks associated with your business spending
• A 3% foreign transaction fee applies on all charges processed outside of Australia⁵

The credit limit provided by this credit card

At the time of writing, St. George does not publicly advise on the credit limits provided on this card.

Your credit limit will be made as an individual offer following a successful application. The limit offered is inclusive of all individual card limits linked to the account and of any fees or charges accrued through use.⁶

Can credit limits be increased?

St. George permits requests for increased credit limits, however, these remain at their discretion and they retain the right to decline these requests.⁶

What fees are associated with the St. George BusinessVantage credit card?

As with all credit cards, fees are applicable when using the St. George BusinessVantage credit card. These fees which apply both domestically and abroad, are outlined in the following table.

Fees & rates	St. George Bank BusinessVantage credit card⁵
Maintenance fee (monthly or annually)	AUD$55 per card, per year
Cash withdrawal or advance rate	3% of the cash advance amount domestically or internationally
Foreign exchange conversion fee	3% of the Australian dollar value of any international transaction. This applies whether it is: In a foreign currency or In Australian dollars and processed by an overseas merchant
Applied interest rates p.a.	Purchase rate: 9.99% (variable) Cash advance rate: 17.5% (variable)
Missed payment fee	AUD$0
Card replacement fee	AUD$0 – Courier fees may be applied
Overlimit fee	AUD$0
Automatic payment dishonour fee	AUD$0
Statement copy fee	AUD$2 inclusive of requests made via Phone Banking or Internet Banking services

Fees and rates current as of 27 October 2023

How to get a St. George BusinessVantage credit card

Applications for a St. George BusinessVantage credit card can be made in person at your local branch or via phone. ⁷

You will be required to provide documentation to support your application including⁸:

• Identity documents and personal details such as your contact details, licence, proof of residency or citizenship and date of birth among others
• Your Australian Business Number (ABN) or similar
• Details of your business including its activities, financials and the contact information for your accountant
• Your employment details outlining your salary, your status and whether you are self-employed
• Whether you have any assets and liabilities. This means evidence of any shares or savings as well as declaring debts, loans and any other financial liabilities

Exactly what is requested may differ based on the type of business you operate and whether you are an existing St George Bank customer.

What are the eligibility requirements for getting this credit card

There are some key eligibility criteria you must meet in order to qualify for a St. George Business Vantage credit card. You will need to⁷:

• Be 18 years or older
• Be an Australian citizen or permanent resident
• Demonstrate that you intend to use the card primarily in a business capacity and provide proof that your business is registered in Australia

Additional criteria such as evidence of income and a credit check may also be used by St. George to determine your eligibility.

How long does it take to get the business credit card

St. George does not advise regarding application processing times online or within the terms of use for this product.

We advise asking for clarification from St. George at the time you submit your application.

What if your application is rejected/declined

Keep in mind that approval of your application is subject to St. George Bank’s lending criteria and is not guaranteed.

If you are advised that your application has been declined, you should speak with the bank and ask why this has occurred. While they are not obligated to share this with you, trying to find out is worthwhile.

A rejected application may be indicative of a poor credit rating and further applications, whether with St. George or another financial institution could further damage your score.

Information regarding your credit rating and credit history is accessible online. The Australian Government recommends checking this with one of three approved reporting agencies. ⁹

What else do I need to know?

The St. George BusinessAdvantage credit card won’t necessarily suit every business. If this is you, you may like to check out their alternative business credit card product to see if it is a better match for your needs.⁴

St. George Bank Business account contact details

St. George Bank business customers can speak with a customer care specialist between Monday to Friday 8 am – 6 pm AEST at¹⁰:

• 13 38 00 for all general enquiries within Australia or via
• +61 2 9155 7800 when overseas

For 24/7 contact:

• Report lost or stolen cards via 1800 028 208 or +61 2 9155 7800 when overseas
• Georgie, St. George’s virtual assistant, through your phone app or the online banking portal

Wise Business Account and debit card

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Versatile and flexible, the Wise business debit card allows for secure online or in-store shopping as well as ATM withdrawals via the Mastercard network.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

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Sources:

1. St. George –About Us
2. St. George – Business Credit Cards
3. St. George – BusinessVantage features
4. St. George – Amplify Features
5. St. George – BusinessVantage fees
6. St. George – Credit limits pgs. 4 and 5
7. St. George – How to apply and eligibility
8. St. George – Document checklist pgs. 1 and 2
9. MoneySmart – Checking credit scores and reports
10. St. George – Contact Us

Sources checked on: 27 October 2023