FEATURES SUMMARY

• Annual fee: $45
• Purchase rate: 11.24% p.a.
• Cash Advance rate: 11.24% p.a.
• Balance Transfer rate: 11.24% p.a.
• Interest-free days: Up to 44

• Extras:
  • Apply online
  • Phone/Internet banking
  • Free additional cardholders

As the name suggests, Bendigo’s Basic Black credit card keeps it simple, with its standout feature being that it offers a really great interest rate of just 11.24% p.a.

Sure, there are other cards that have lower rates than this, but like all Bendigo credit cards, the Basic Black credit card has the same ongoing low interest rate of 11.24% p.a. right across the board.

So that’s all you’ll ever pay in interest for cash advances, purchases and even balance transfers. Seems pretty unbelievable, but it’s true. This in conjunction with its other features gives it the title of the top pick for the Editor’s Choice – Low Interest Credit Card.

This annual interest rate is at the expense of other features, but the good thing is that Bendigo is in no way trying to hide that fact. In fact that’s how they are advertising it. It’s called the ‘Bendigo Basic Black’ card for a reason – no extra features that you don’t need, just the basics.

With up to 44 days interest free, it is a little bit lower than most, however it is more than enough when you take into account the fact that unlike other banks, Bendigo only starts charging interest when you are issued with your statement.

The only other feature that needs mentioning is the $45 annual fee which, while it hasn’t quite made it into the low annual fee category, it is borderline. And with all the money you’ll save with the great interest rate and interest free days on this card, $45 a year is nothing.

So if you’re not looking for any kind of rewards or benefits, this card covers all other bases. Bendigo has taken the time old saying that ‘less is more’ and has proven it without a doubt.

See our top credit card picks in the Editor’s Choice category