Australian Military Bank Low Rate Visa Credit Card

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A no-frills card that helps you save on interest with a 0% promotional balance transfer rate for 12 months, a low variable interest rate on purchases and a low annual fee.

The Australian Military Bank Low Rate Visa Credit Card, as its name implies, charges a low variable rate on purchases. It also comes with a 0% p.a. interest rate offer for 12 months on balance transfers. Pay your balance back in full each statement period and get up to 45 interest-free days on purchases. If you're after a low rate card that gives you a few different ways to save as well as convenient access to credit, the Australian Military Bank Low Rate Visa Card is one to consider.

Details

Product NameAustralian Military Bank Low Rate Visa Credit Card
Balance transfer rate0% p.a. for 12 months
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Purchase Rate (11.99% p.a.)
Purchase rate (p.a.) 11.99% p.a.
Annual fee$49 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 45 days on purchases
Cash advance rate (p.a.)19.99% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$1,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2.95% of transaction value
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationYes

Pros

  • This card comes with an introductory balance transfer offer of 0% p.a. for 12 months.
  • A low variable purchase rate of 11.99% p.a. applies.
  • Get up to 45 interest-free days on purchases.
  • You can add additional cardholders for free.

Cons

  • There is no rewards program or linked to this account.
Annual fee$49 p.a.
Minimum Monthly Repayment2% or $20, whichever is greater
Late Payment Fee$10
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2.95% of transaction value
Cash Advance Fee$4.50
Overseas ATM Withdrawal Fee$4.50
Additional Cardholder Fee$0

Benefits of the Australian Military Bank Low Rate Visa Credit Card

  • Low rate. The Australian Military Bank Low Rate Visa Credit Card charges a low purchase rate of 11.99% p.a. and if you carry over a balance from one month to the next, you can save a tidy sum in the long run. If you have an existing Australian Military Bank home loan, you may also qualify for a promotional interest rate.
  • Balance transfer offer. You can take advantage of a 0% p.a. interest rate for 12 months on balance transfers. This introductory offer is available within 3 months of card activation, with a minimum balance transfer amount of $1,000. If you apply after 3 months of card activation, an interest rate of 3.99% p.a. for 12 months will apply for new balance transfers. At the end of the introductory period, the card's low variable purchase rate of 11.99% p.a. will apply to any balance remaining.
  • Convenient access to funds. You can use this Visa card at EFTPOS terminals and ATMs all over the world, as long as you see the Visa logo. This card is perfect to use when making purchases or bills payments over the internet or over the phone.

Features of the Australian Military Bank Low Rate Visa Credit Card

  • Annual fee. If you take up this account, you'll have to pay $49 each year to keep it active.
  • Interest-free days. By paying your card’s outstanding balance completely before each due date, you can get as many as 45 interest-free days on purchases.
  • Credit limit. The minimum credit limit for the Australian Military Bank Low Rate Card is $1,000, with the limit assigned to you depending on your ability to repay.
  • Additional cards. No fees apply for additional cards that you add to your account.
  • Visa payWave. This payment method is finding acceptance with a growing number of merchants, and any merchant that supports this technology allows you to make contactless payments for purchases under $100.
  • Card security. This chip-enabled credit card offers increased protection against fraud when compared to cards that rely on magnetic strips. Verified by Visa, an online service offered by Visa, provides additional security every time an online transaction makes use of your card details.

How to apply for the Australian Military Bank Low Rate Visa Credit Card

If you're interested in applying, you can do so by completing an online application, visiting an Australian Military Bank branch, or you can even get an Australian Military Bank rep to guide you through the process over the phone. Before you proceed, check if you meet the requirements below.

Eligibility criteria

  • You’re an Australian citizen or a permanent Australian resident.
  • You’re at least 18 years old.
  • You are currently employed or receiving a regular income.
  • You must have a good credit history. This means that applicants must not have declared bankruptcy or insolvency or defaulted on any loans, credit cards, interest free finance or store cards in the last five years.

Required documents

  • Details of your Australian driver’s license or passport
  • Income and expense details
  • Employment details
  • Details about assets like real estate, motor vehicles, home contents, savings and investments
  • Details about liabilities like your current loans, credit cards, store cards and overdrafts

The balance transfer offer that this card comes with makes it worthy of your attention, but take some time to compare it with other card offers before making your final decision.

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8 Comments

  1. Default Gravatar
    Aberto
    June 27, 2019

    What do I have to do to transfer my credit card balance to the Military Bank credit card?

    • AvatarStaff
      Jeni
      June 28, 2019

      Hi Alberto,

      Thank you for getting in touch with Finder.

      If you’re a new Australian Military Bank Low Rate Visa credit cardholder, you may call them to assist you over the phone on processing balance transfer. Please have both of your new and old credit cards handy. If you’re an existing Australian Military Bank Low Rate Visa credit cardholder, kindly reach them out to know if there are BT offers you may take advantage with.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    martin
    June 17, 2019

    I am an ex service man and I wish to apply for a credit card, currently I have and ANZ credit card low interest and I find youre card will suit me better. How do I make payments to your bank when I live in NSW South coast ?
    Yours Sincerely
    Martin

    • AvatarStaff
      Nikki
      June 18, 2019

      Hi Martin,

      Thanks for your question!

      It’s great to know that you are looking to apply for the Australian Military Bank Low Rate Visa Credit Card.

      You can make payments to your card by logging in to the online banking portal on the Australia Military Bank website.

      As a friendly reminder, read the eligibility criteria, features, and details of the card, as well as the Product Disclosure Statement and Terms and Conditions of the card before committing to the product.

      Hope this helps!

      Best,
      Nikki

  3. Default Gravatar
    Roger
    February 3, 2018

    Where are your branches in Adelaide. How can payments be made to the card.

    • AvatarStaff
      Jonathan
      February 26, 2018

      Hi Roger, thanks for your inquiry.

      The Australia Military Bank branch in Adelaide is located at:

      RAAF Base Edinburgh
      Shopping Centre, McNamara Drive, RAAF Base Edinburgh, South Australia
      Edinburgh, SA 5111
      Australia

      You can make payments to your card by logging in to the online banking portal on the Australia Military Bank website. I have sent this link to your email.

      Best,

      Jonathan

  4. Default Gravatar
    John
    January 16, 2018

    Can I transfer from another card over to these guys?

    • AvatarStaff
      Jhez
      January 16, 2018

      Hi John,

      Thank you for your comment.

      If you already have a credit card (or store card) debt that you’re paying off with another bank you can transfer the outstanding balance to Australian Military Bank through a balance transfer option. You may qualify for the 0% p.a. interest rate for 12 months on balance transfers which is an introductory offer if you request a balance transfer within 3 months from the card activation. The offer will run for 12 months, after which point the purchase rate will apply.

      Regards,
      Jhezelyn

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