Australian Military Bank Low Rate Visa Credit Card
Get 0% p.a. on balance transfers for 12 months and a low variable interest rate on new purchases made with the Australian Military Bank Low Rate Visa.
This low rate credit card offers a competitive annual fee of $49 and a purchase interest rate of 11.99% p.a.
Balance transfer rate
for 12 months
Interest free period
|Product Name||Australian Military Bank Low Rate Visa Credit Card|
|Balance transfer rate||0% p.a. for 12 months|
|Balance transfer revert rate||Purchase Rate (11.99% p.a.)|
|Purchase rate||11.99% p.a.|
|Interest-free period||Up to 45 days on purchases|
|Cash advance rate||19.99% p.a.|
|Min credit limit||$2,000|
|Foreign currency conversion fee||2.95%|
|Available to temporary residents||No|
- Balance transfer offer of 0% p.a. for 12 months
- A low variable purchase rate of 11.99% p.a.
- Free additional cardholders
- Offers only up to 45 days interest-free on purchases, compared to other cards with 55 days
|Minimum monthly repayment||2% of the closing balance or $20, whichever is greater|
|Late payment fee||$10|
|Foreign currency conversion fee||2.95%|
|Cash advance fee||$4.50|
|Overseas ATM withdrawal fee||$4.50|
|Additional cardholder fee||$0|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
How to apply
You can apply for the Australian Military Bank Low Rate Visa online by completing a secure application form. Alternatively, you can apply over the phone by calling 1300 132 328 or by visiting a branch.
To get started, make sure you meet the following eligibility criteria and have all the documents and details required for the application.
- Australian Military Bank membership. You must be a member of Australian Military Bank to get this credit card. If you're not an existing member, you'll be signed up as part of the application process.
- Residency status. You can apply for this card if you are an Australian permanent resident or citizen.
- Regular income. You must be currently employed or receive a regular income.
- Credit history. This card is only available to people who have not declared bankruptcy or insolvency. You also must not have had any defaults on loans, credit cards, store cards or interest-free finance in the past five years.
- Age. You must be at least 18 years of age.
- Personal details. This includes your full name, date of birth, contact details and a valid form of ID, such as your driver's licence, passport or Medicare card details.
- Employment details. You'll be asked about your occupation, salary, length of employment and your employer's contact details. You also need to provide your most recent payslip to help verify these details.
- Financial details. As well as your salary, this covers any other forms of income along with your existing assets and debts. You also need to provide estimates of your share of regular household expenses including rent or mortgage payments, transport, utilities and groceries.
- Balance transfer details. If you want to take advantage of the balance transfer offer on this card, you'll need to provide details of the amount of debt you want to move to your new account as well as the existing account number, name and financial institution's BSB.
- 0% p.a. balance transfer offer. If you have existing credit card debt, you can pay it off interest-free for the first 12 months that you have the Australian Military Bank Low Rate Visa by requesting a balance transfer at the time of your application. At the end of the introductory period, any remaining debt from the balance transfer will attract a variable interest rate of 11.99% p.a.
- Low purchase rate. The Australian Military Bank Low Rate credit card's 11.99% p.a. variable interest rate is competitive with other low rate cards. You could also be eligible for a promotional interest rate of 9.99% p.a. if you have an existing Australian Military Bank home loan. Contact the bank to find out what's required for this rate to apply.
- Visa benefits. This card gives you access to exclusive entertainment, travel, shopping and other lifestyle perks through Visa Offers. You can also enjoy an added layer of protection when you shop online through Verified by Visa plus contactless payments when you shop in-store.
- Additional card. If you want to share your account with a loved one, you can request an additional card and take advantage of a $0 p.a. additional cardholder fee. Note that, as the primary cardholder, you will be responsible for all management of the account.
Rates & fees
- Annual fee. This card's $49 annual fee is on the lower end of the scale but, if you don't want to pay a yearly account-keeping fee at all, you could compare no annual fee cards instead.
- Interest-free days. If you pay the complete outstanding balance before the due date on each statement, you can get up to 45 days interest-free on purchases made with this card.
- Cash advances. If you use this card to withdraw cash or for any other cash advance transactions, an interest rate of 19.99% p.a. will apply from the date the transaction is made. A fee of $4.50 also applies for any cash advance you make with another financial institution.
- Foreign currency conversion. A fee of 2.95% applies for transactions made overseas or online in a foreign currency.
- 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.