Australian Military Bank Low Rate Visa Card

Australian Military Bank Low Rate Visa Card

Highlights

  • Benefit from a competitive interest rate of 11.99% per annum for purchases.
  • Avail a 0% interest rate for the initial 12 months on Balance Transfers, coupled with a 0% balance transfer fee. Following this period, the rate reverts to the purchase rate of 11.99% per annum.
  • Additionally, seize up to 45 days of interest-free purchasing.

Pros and cons

Pros

  • A low-interest rate on purchases.
  • Low annual fee.
  • You can get additional cardholders at no extra cost.

Cons

  • No rewards program.

About this credit card

Basics

Card usage

Apple Pay Enabled
No
Card Type
Visa
Gambling Transactions Allowed
No
Samsung Pay Enabled
No

Eligibility

Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Good
Minimum Income
N/A
Temporary Residents Accepted
No

Additional cardholders

Additional Cardholders
1
Additional Card Fee Ongoing
$0.00

Credit limits

Minimum Credit Limit
$2,000.00
Maximum Credit Limit
N/A

Repayments

Interest Charged From
Purchase date
Interest Free Period
Up to 45 days on purchases
Minimum Repayment Percentage
2%

Balance transfers

Balance transfer offer

Balance Transfer Rate
0%
Balance Transfer Period
12 months
Balance Transfer Fee Percentage
0%

Balance transfer conditions

Balance Transfer From Personal Loan
No
Balance Transfer Limit Percentage
100%
Balance Transfer Revert Rate
11.99%

Rates, fees, charges

Cash advances

Cash Advance Rate
19.99% p.a.
Cash Advance Fee
$4.50
Cash Advance Fee Percentage
N/A
Cash Advance Fee Threshold
N/A

Purchases

Purchase Rate Introductory Offer
N/A
Purchase Rate Introductory Period
N/A
Purchase Rate Ongoing
11.99% p.a.

Account fees

Annual Fee Initial Year
N/A
Annual Fee Ongoing
$49.00
Dishonour Fee
$20.00
Duplicate Statement Fee
$2.50
Foreign Exchange Fee Percentage
3%
Late Payment Fee
$10.00

Rewards

Rewards program basics

Rewards Program
N/A
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
N/A

Rewards points per $1 spent

Domestic Rewards Points Earn Rate
N/A
Government Rewards Points Earn Rate
N/A
Overseas Rewards Points Earn Rate
N/A

Additional perks

Insurance

Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
No
Cardholder's International Travel Insurance
No
Cardholder's Interstate Flight Inconvenience
No
Cardholder's Personal Item Theft Cover
No
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
No
Cardholder's Refund Protection
No
Cardholder's Transport Accident Insurance
No

Travel and lifestyle

Airport Lounge Access Included
No
Concierge Service Included
No
Complimentary Flight Voucher Included
No
Complimentary QFF Membership Included
N/A

Our review

Convenience

Customer service

Rates and fees

Rewards

Trust

The basics

  • Low-interest rate: Australian Military Bank Low Rate Visa Credit Card comes with 11.99% interest.
  • Promotional Interest Rate of 9.99% p.a. for existing Australian Military Bank home loan holders.
  • introductory balance transfer rate of 0% p.a. for 12 months.
  • Low annual card fee: $49.
  • Additional cardholder fee: Additional cardholders at no extra cost.
  • Multi-access repayments via BPAY, online and mobile banking
  • Digital wallets. The card can be linked to Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. Gambling transactions are blocked on this card.

Rewards and benefits

  • Being a low-rate card, the Australian Military Bank Low Rate Visa Card does not provide:
    • Complimentary travel insurance and other insurance
    • Concierge services.
    • Rewards points
    • A signup bonus
  • Access to exclusive shopping, dining, entertainment, and travel deals through Visa Offers + Perks.
  • To make up for the no-frills offer, the Australian Military Bank Low Rate Visa Credit Card comes with features valued by military families worldwide. These include:
    • A promotional interest rate for existing Australian Military Bank home loan holders.
    • Fast assessment
    • Worldwide acceptance
    • ATM and EFTPOS facilities
    • Cash advance facilities
    • Microchip-free fraud protection service
    • Round-the-clock lost card hotline.
    • Added online protection through Visa Secure
    • Contactless payments at the checkout. Requires no PIN for payments less than $100.

Rates and fees

  • Annual fee. This card has an annual fee of $49 p.a.
  • Balance transfers. The introductory balance transfer offer for this card is 0% p.a. for 12 months. The balance transfer rate reverts to 11.99% after the promo period.
  • Cash advances. All cash advances are charged at 19.99% p.a.
  • Foreign exchange fee. This foreign transaction fee only applies to transactions made in a foreign currency.
  • Interest-free period. Enjoy up to 45 days interest-free once you pay off your balance in full and on time with no additional purchases on the card.
  • Purchases. The Australian Military Bank Low Rate Visa Card does not have any introductory offers on purchases. All purchases will attract interest at 11.99% p.a. except existing Australian Military Bank Home Loan holders, who get a promotional interest rate of 9.99% on their purchases.
account

Reviewed by Credit Card Compare Staff

History

    User reviews

    Convenience

    Customer service

    Rates and fees

    Rewards

    Trust

    Reasonable rates and widely accepted

    Reviewed by ADCU Review

    The best of the best

    Reviewed by Don

    I still find it hard to make payments

    Reviewed by Michelle Robinson

    One for defence

    Reviewed by Stewart

    Good for those looking for a back up

    Reviewed by Matt

    Convenient, safe card from a great bank

    Reviewed by Greg

    Would you like to review this product? Click here to write your review and help others make a better decision.

    This credit card is listed in these comparisons