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Defence Bank Foundation Visa Credit Card
Defence Bank Foundation Visa Credit Card

Defence Bank Credit Cards

Defence Bank Foundation Visa Credit Card

Updated 26 September 2021

Save with 3.99% p.a. 6-month introductory rate on balance transfers, purchases, and cash advances plus, a low annual fee of $45. Benefit from up to 55 days interest free on purchases when you pay off your balance each month.T&Cs apply.

Purchase Rate (p.a)

3.99% p.a.

for 6 months. Reverts to 8.99% p.a.

Balance Transfer (p.a)

3.99% for 6 months No balance transfer fee.
Reverts to 8.99% p.a.

Annual Fee (p.a)

$45

$0 over 6 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances
  • 8.99% p.a. ongoing rate on purchases and cash advances
  • $45 annual fee
  • Up to 55 days interest fee on purchases

  • No extra features

Creditcard.com.au review

Editor Review

Defence Bank Foundation 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 Defence Bank Foundation Credit Card

Offering an enticing 3.99% p.a. on purchases for six months, the Defence Bank Foundation Credit Card is an award-winning card that keeps costs low over the long term as well, with a low ongoing purchase rate and a low annual fee. Cardholders can also benefit from up to 55 days interest free on purchases when they pay off their balance by the due date each month.

What we love...

Allowing cardholders to save on interest with an ever-so appealing purchase offer, the Defence Bank Foundation Credit Card is currently offering 3.99% p.a. on purchases for six months. This offer is available to new cardholders only, with the intro rate applicable for the first six months, after which, any balance left unpaid will revert to the card’s standard purchase rate.

Which brings us to the card’s low rate status. Defence Bank is a mutual organisation, which means it is owned by its members, not external shareholders. This allows the bank to provide lower rates on its credit cards, helping cardholders to save on interest if they carry a balance. While bigger banks may have ‘low rate’ cards, this card from Defence Bank has a rate that rivals most of the big bank offerings.

With that low rate, the Defence Bank Foundation Credit Card may appeal to cardholders who carry a balance, but it also has something to offer those who clear their balance month to month. As long as you pay off your balance by the due date each month, you can take advantage of up to 55 days interest free on purchases.

And its annual fee? While some low rate cards may have higher annual fees, this card does not. Thanks to its mutual status, Defence Bank can keep costs low for cardholders across the board, providing a low annual fee as well as a low interest rate on this card.

Best of all, this low cost card isn’t just for Australian Defence Force employees. Despite its name, Defence Bank has membership open to all Australians, so you can take advantage of all this card has to offer even if you’ve never set foot on a military base. Simply join online, then utilise the card’s fast application process to become Defence Bank’s newest member.

What’s not so great...

With a low cost card such as the Defence Bank Foundation Credit Card, you are paying a tiny annual fee and a super low interest rate. While this allows you to keep costs low, it doesn’t provide much incentive for the bank to offer much in the way of features. Banks don’t offer fancy features and rewards for free, so they are usually found on cards with higher annual fees and interest rates.

If all you want is a basic, low cost option, this card could be for you. However, if you want more extras, or if you want to earn rewards on your card spending, you may need to check out what’s on offer elsewhere.

Why should you choose this card?

The Defence Bank Foundation Credit Card is an award-winning credit card. Not only has it been recognised by Canstar as a five-star option offering outstanding value, it was also awarded two Mozo Experts Choice Awards in 2014 in the categories ‘Low Rate Credit Card’ and ‘Balance Transfer Credit Card’.

Half of the annual $45 card fee is donated to the Defence Bank Foundation - a charity whose sole beneficiary is Defence Community Dogs. The Community Dogs’ program changes lives through assistance dogs at no cost to veterans. Under the program, rescue dogs are trained in correctional facilities before being presented to veterans - providing a second chance for the dogs, inmates and veterans.

Enjoying recognition within the industry for its low cost status, this card could be an excellent option for anyone who wants to save on interest as they carry a balance month to month, while also paying out a low annual fee. As a money-saver, it could also work well for cardholders who clear their balance each month, to take advantage of the card’s interest free feature.

Alongside its great 3.99% p.a. purchase offer, the card provides all the accessibility and security you would expect from a modern credit card. This includes contactless payment technology from Visa payWave, and 24/7 fraud protection monitoring looking out for suspicious activity on the card.

Overall Rating

An award-winning low cost card, the Defence Bank Foundation Credit Card has 3.99% p.a. on purchases for six months, plus a low ongoing purchase rate and annual fee.

User reviews

Defence Bank Foundation Visa Credit Card ( based on 3 Creditcard.com.au user reviews )

49% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value
93%

Grant

22 April 2021

I always like the way a customer can get through to the help line with minimy=um wait time

Recommends this card

Rates and fees

Interest rates



Purchase rate 8.99% p.a.

Introductory purchase rate 3.99% p.a. for 6 months

Cash advance rate 8.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 3.99% p.a. for 6 months

Balance transfer revert rate 8.99% p.a.

Balance transfer from personal loan N/A

Balance transfer fee No fee

Balance transfer limit N/A

Banks you can't balance transfer from Defence Bank

Credit limits

Minimum credit limit $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $45 p.a.

Additional cardholder fee $0 p.a.

Foreign transaction fee 3%

Minimum repayment 3% or $10, whichever is greater

Cash advance fee From $4.10

Late payment fee $20

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

Defence Bank Foundation Visa Credit Card

Key features

  • 3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances
  • 8.99% p.a. ongoing rate on purchases and cash advances
  • $45 annual fee
  • Up to 55 days interest fee 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 Australian Citizen

  • 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.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

4 questions (showing the latest 10 Q&As)

franco

franco

29 March 2021
Hi, Do we know whats the cash advance limit. 30-40K is possible with this card ? it is a better rate and can keep this as a credit ready card whenever cash is needed. Suggestions?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 March 2021
    Hi Franco, there is no cash advance limit on this card. You just have to pay the $4.10 cash advance fee for each transaction. As for $30 - $40k, you'd need to be approved for that credit limit. I hope that helps.
Stephen

Stephen

24 March 2021
I am a vetran and have a go master card with an interest free part but have a small part I pay full intest on a bit over 1000 dollars and I am on a disability permanent pension and a good credit rating is there a chance for me to get one of your credit card with the minimum credit limit?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 March 2021
    Hi Stephen, CreditCard.com.au is a comparison website and we do not offer credit cards directly. If you'd like to apply for this card, you can apply directly on their website. The minimum credit limit is $1,000 and you can also apply to transfer your existing balance that is accruing interest at 22.74% p.a. to this one that charges 3.99% p.a. for the first 6 months and 8.99% p.a. after that. I hope that helps.
Stephen

Stephen

24 March 2021
What is the minimum credit limit you can get
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 March 2021
    Hi Stephen, the minimum credit limit on this card is $1,000.
Michael

Michael

10 December 2019
How do I apply? I would like to transfer my old card to a new one, the current company is incompetent

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