Can anyone recommend a Business Credit Card or Charge Card with a low international exchange rate fee, most cards I have looked at have between 2-3%, which is a bit on the high side when paying international bills?

Currently we have an AMEX, so looking to replace that with a Visa or MasterCard.

There is nothing stopping you from using a personal credit card as most business cards are backed by directors guarantees etc anyway so you end up with the debt regardless.

Wizard has a credit card product underwritten by ANZ which has a very low cross boarder transaction fee. I believe its a MasterCard. So might want to check them out...

Actually it's a 0%, link.

Why spend money you don't have, only to pay back a fortune on interest?

Visa debit cards are wonderful and work just as well. We've been using one with ANZ for years and it works wonders and you don't have to worry about bloody interest charges on purchases

Works well for us anyway

I agree, we don't want the credit card for the credit facility but rather the payment facility. We currently have a charge card (no credit facility) with AMEX, but want something that is accepted in a few more places.

The Visa debit cards are good for personal use, however I wouldn't want such a card connected to our main business account as it would be way to easy for someone to abuse that if they got a hold of the card or the card number. Plus I don't believe the Visa Debit card comes with the same amount of insurance as the business credit cards do

Ours is not setup to the main business account, so even if someone fraudulently used it, they wouldn't get far

It is setup as it's own account...and even the accountant likes it that way for record keeping/audit/paper trail purposes.

Aaron,

The Wizard card is really good, and delivers on its promise of no fees for overseas purchases.

I agree. Although the Wizard MasterCard is a personal one (not business), it's great for international transactions because it has no currency conversion fees.

Does anyone know the max limit on the Wizard cards?

Not sure if it would work for us, as we would be putting a fair amount each month through the card...

If your a Director of the company, you can just put it under your own name and reimburse yourself the costs.

Aaron, we have ours at $5,000. Not sure if it can go any higher, but remember that credit cards can operate in reverse, so if you're spending more then say $5,000 a month, just chuck an extra $5,000 on it which gives you $10,000 to use.

No wai! You mean, paying the bill?

See can't do that if your a PTY LTD or have a group of companies like myself. Even if the account is purely used for the PTY LTD and you hold it in trust on its behalf. You could open yourself up to a huge tax liability if the ATO says nope its in your name so you owe us more $$$

Different if sole trader

Have a look at a Westpac (I hate Westpac) or Bendigo Bank Cheque accounts with a linked Visa debit/Debit Mastercard. Suncorp can sometimes give you a linked debit card to a cheque account but I think they have business rules which disallow it but some have said they've tricked Suncorp into issuing them.

Card scheme rules are the same. Customers with Visa or MasterCard numbers are protected by the same charge back rules as customers who use credit facilities with their bank...