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Australian Military Bank Low Rate Visa Credit Card
Australian Military Bank Low Rate Visa Credit Card

Australian Military Bank

Australian Military Bank Low Rate Visa Credit Card

Updated 22 July 2021

Australian Military Bank Low Rate Visa Credit Card can save you on interest with 0% p.a. for the first 12 months on balance transfers. This no frills card can also keep costs low with an affordable annual fee and up to 45 days interest free on purchases, with a tempting promotional interest rate of 9.99% p.a. when you have an existing Australian Military Bank home loan. T&Cs apply.

Purchase Rate (p.a)

11.99%

Balance Transfer (p.a)

0% for 12 months No balance transfer fee.
Reverts to 11.99% p.a.

Annual Fee (p.a)

$49

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 11.99% p.a. interest rate on purchases
  • 0% p.a. on balance transfers for first 12 months, minimum balance transfer of $2,000 applies (reverts to 11.99%, thereafter)
  • Promotional Interest Rate at 9.99% p.a. when you have an existing Australian Military Bank home loan
  • Low $49 annual fee
  • Add additional cardholders at no extra cost
  • Up to 45 interest free days on purchases

  • No extra frills

Creditcard.com.au review

Editor Review

Australian Military Bank Low Rate Visa Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Australian Military Bank Low Rate Visa Credit Card

Australian Military Bank Low Rate Credit Card is a real money saver, offering its low ongoing interest rate for purchases at 11.99% p.a. As a fairly simple offering, this no frills card can also keep costs low with an affordable annual fee and up to 45 days interest free on purchases, plus a tempting promotional interest rate of 9.99% p.a. when you have an existing Australian Military Bank home loan.

What we love...

Australian Military Bank has been very dedicated in providing financial services to Australian Defence personnel, their families and the broader Defence community. And, as a member-owned organisation, the bank has been offering low fees and affordable ongoing interest rates to its members.

Australian Military Bank Low Rate Credit Card is a great option for cardholders who seek a money-saver and no frills card and just simply want access to credit.

It is currently offering an introductory rate at 0% p.a. for 12 months when you request a balance transfer at the time of your application. This reverts to a competitively low ongoing purchase interest rate at 11.99% p.a. While it’s always best to clear your balance month-to-month – especially when paying off a transferred balance – this card does keep ongoing interest on purchases which is one of the lowest in the market.

The Australian Military Bank Low Rate Credit Card has also a nice low annual fee, so even if you don’t use it that often, it won’t break the bank keeping it in your wallet. Another money-saving feature this card offers is interest free days on purchases. That means, as long as you clear your balance each month by the due date, you can benefit from interest free shopping, with up to 45 days to pay.

Additionally, if you have an existing home loan with Australian Military Bank, you can enjoy the promotional interest rate of 9.99% p.a. with this card.

What’s not so great...

This card is not a perk-provider. Though it presents introductory and promotional offers, features such as rewards, bonus points, complicated offers and other lovely extras, this card doesn’t have them.

Why should you choose this card?

If you tend to carry a balance on your card, choosing one with a low rate could help you save on interest as you pay down what you owe. As the Australian Military Bank Low Rate Visa Credit Card has one of the lowest purchase rates on the market, this could make it a fantastic choice for anyone looking to keep interest payments as low as possible.

As a cardholder, you can benefit from all the security features that come with it being a Visa card, including microchip free fraud protection service and Verified by Visa for online purchases. This card is connected to the Visa network, so you can use it in Australia or overseas wherever Visa is accepted. Plus, Visa payWave also comes standard on this card, helping to save cardholders time and hassle at the checkout.

Australian Military Bank Low Rate Visa Credit Card is very straightforward and comes with a low annual fee and an affordable ongoing interest rate for purchases, thus this is the only credit card you'll ever need.

Overall Rating

Appealing to money-savers and those who prefer simplicity, the Australian Military Bank Low Rate Visa Credit Card has one of the lowest ongoing purchase rates you’ll find, as well as a low annual fee, up to 45 days interest free on purchases and promotional offer of 9.99% p.a. when you have an existing Australian Military Bank home loan.

User reviews

Australian Military Bank Low Rate Visa Credit Card ( based on 1 Creditcard.com.au user review )

61% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 11.99% p.a.

Cash advance rate 19.99% p.a.

Interest free period on purchases up to 45 days

Balance transfer

Balance transfer rate 0% p.a. for 12 months

Balance transfer revert rate 11.99% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee

Balance transfer limit N/A

Banks you can't balance transfer from Australian Military Bank

Credit limits

Minimum credit limit $$2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $49 p.a.

Additional cardholder fee $0

Foreign transaction fee 2.95%

Minimum repayment 2% or $20 (whichever is greater)

Cash advance fee $4.50

Late payment fee $10

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Overview

Australian Military Bank Low Rate Visa Credit Card

The Australian Military Bank Low Rate Visa Credit Card has up to 45 days interest free on purchases, a low annual fee of $49 and a competitive 11.99% p.a. on purchases.

Key features

  • 11.99% p.a. interest rate on purchases
  • 0% p.a. on balance transfers for first 12 months, minimum balance transfer of $2,000 applies (reverts to 11.99%, thereafter)
  • Promotional Interest Rate at 9.99% p.a. when you have an existing Australian Military Bank home loan
  • Low $49 annual fee
  • Add additional cardholders at no extra cost
  • Up to 45 interest free days on purchases

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Permanent resident or citizen of Australia.

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

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