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Defence Bank Low Rate True Blue Credit Card
Defence Bank Low Rate True Blue Credit Card

Defence Bank Low Rate True Blue Credit Card

Updated 26 November 2019

Purchase Rate (p.a)

3.99% p.a.

for 6 months. Reverts to 11.74% p.a.

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$45

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 3.99% p.a. on purchases for six months
  • 11.74% p.a. 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 Low Rate True Blue 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 Low Rate True Blue Credit Card

Offering an enticing 3.99% p.a. on purchases for six months, the Defence Bank Low Rate True Blue 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 Low Rate True Blue 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 Low Rate True Blue 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 Low Rate True Blue 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 Low Rate True Blue 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’.

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 Low Rate True Blue 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 Low Rate True Blue Credit Card ( based on 1 Creditcard.com.au user review )

44% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 11.74% p.a.

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

Cash advance rate 11.74% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limt N/A

Maximum credit limit N/A

Fees & repayments

Annual fee $45 p.a.

Additional card holder fee N/A

Foreign transaction fee 3%

Minimum repayment

Cash advance fee N/A

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 Low Rate True Blue Credit Card

Key features

  • 3.99% p.a. on purchases for six months
  • 11.74% p.a. 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.

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